Felipe Cadavid - CEO of Miami Ress

About Felipe & Miami Ress

Felipe started his career as a real estate agent in 2005 and quickly became a very successful realtor and property manager in Miami, Florida. With year-round tropical warm weather, the international city of Miami is a vacation hotspot for millions of tourists each year ranking high on the list of best beaches and cities in the world to visit.

Realizing the tourism potential of the city, Felipe ventured into vacation-rental management which seemed more rewarding than traditional property management. What Felipe didn’t realize when first transitioning to vacation-rental management was how much more time-consuming it would be.

Despite the challenges of growth, Felipe now manages a portfolio of 16 vacation rentals in Miami with more on the way. He says he’ll “definitely use Angel Host” as he keeps growing his portfolio and breaking revenue and occupancy milestones every quarter!

The Challenges of Growth

Despite having had a good revenue year in 2019, Felipe was still struggling to keep up with guest communications and to determine the ideal price at which to promote his properties. In Felipe’s words: “Communicating with the guests was exhausting. I really wanted to focus on other areas like growing the business. However, when you start to grow, the guest communication grows. And when you constantly need to be available to field calls, inquiries, and requests from the guests, it makes it hard to concentrate on much else.”

Felipe realized he needed to delegate more so that he could focus on his business’ growth. He needed a partner he could trust to help increase bookings and produce higher returns for his portfolio of properties.

The other challenge Felipe faced was staying up-to-date with his seasonal pricing strategy. With so many properties in the vacation rental market, finding the right price to stay competitive while maximizing his revenue was a difficult and time-consuming task.

Felipe was looking for a solution that could help him:

• Manage his properties’ pricing strategy to stay competitive and maximize revenue and ROI
• Rethink strategies to deal with the COVID pandemic and ensure homeowner satisfaction
• Reply to clients in both English and Spanish, given the multicultural nature of the Miami market
• Manage guest communications across multiple platforms, day and night, all year round
• Reduce his workload so he could focus on growth
  
  

The solution

“Angel Host can do it better than me and in multiple languages! They’ve helped me with resources and research that weren’t even part of their job description…things that save me time. They go the extra mile and solve problems before they happen!”

Angel Host's solution included:

• Writing and optimizing property listings to stand out and get more exposure.
• A friendly and knowledgeable team of “Angels” responding to all guest inquiries 365 days/year!
• Dynamic, data-driven pricing optimization based on real-time market monitoring to ensure higher occupancy rates and annual revenues!
• Online reports clearly demonstrating performance vs. market that he could easily share with property owners.

The results

Throughout 2020, and despite COVID, Felipe saw:

A significant revenue increase in 2020 vs. 2019, with occupancy and revenue over 80% higher than competing properties in Miami.

An increase in the time he could spend growing his business and adding more properties thanks to the reduction in workload!

Since signing on with Angel Host, Felipe has substantially increased his bookings, has seen higher occupancy rates (even during times of COVID), and he no longer has to handle pricing strategy and management. All of this has allowed him to focus on growing his business! Felipe credits this success to a good working relationship with Angel Host.

• The pricing optimization and dynamic pricing system
• The ongoing communication with the guests
• The great team, who handles all aspects of rental management

“The communication with the Angel Host team is simple, they’re very resourceful and they help me a lot.”

When asked where Angel Host ranks on a scale of 1 to 10 (10 being best):

“Angel Host is a 10!”