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Table of contents

Cap rate calculator
The cap rate calculator is used to understand and compare the potential return on investment from an investment property.
Enter the current market value or purchase price of the property. This is the basis for determining the capitalization rate.
Input the total yearly income generated by the property, including rent, fees, and any other sources of revenue, before expenses.
Input the percentage of annual gross income that represents the property's total operating expenses. This is an alternative way to represent operating expenses if the exact dollar amount is unknown.
Enter the annual dollar amount of all costs associated with managing and maintaining the property, such as utilities, taxes, insurance, and repairs.
Input the estimated percentage of time the property is unoccupied or not generating income. This accounts for potential income loss due to vacancies.
This field displays the calculated yearly income after subtracting operating expenses and adjusting for vacancy rate. This figure is used to determine the capitalization rate and evaluate the property's potential return on investment.
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ResourcesseparatorProperty Management

Evolve vs Vacasa vs AvantStay: Which Vacation Rental Manager Is Right for You?

Key takeaways

Evolve vs Vacasa vs AvantStay: Which Vacation Rental Manager Is Right for You?

Evolve, Vacasa, and AvantStay are three of the most recognized names in vacation rental management — and three very different products. Choosing between them depends on your property type, market, and how much owner involvement you want. Before comparing, see Awning's comprehensive review of top Airbnb management companies for a broader competitive landscape.

Evolve: The Hybrid Model

What Evolve Does

Evolve handles listing creation, multi-platform distribution, pricing, and guest communication. What they explicitly don't handle: cleaning, maintenance, and local operations. You're responsible for finding and managing your own cleaner and handling on-the-ground issues.

Evolve's Fee Structure

Evolve charges 10% of gross revenue — one of the lowest management fees in the industry. That low fee reflects limited scope: they're managing your digital presence and bookings, not operations.

Who Evolve Is Right For

Hosts who already have a reliable cleaner and are comfortable managing local operations. Evolve works for owners who want booking management without giving up operational control.

Evolve's Limitations

•       No local operations support — you handle cleaning and maintenance

•       Limited channel reach compared to full-service managers

•       Owner must be available for on-the-ground issues during guest stays

Vacasa: The Large-Scale Full-Service Manager

What Vacasa Does

Vacasa is one of the largest vacation rental management companies in North America, offering full-service management: listing, marketing, pricing, guest communication, cleaning, and local operations teams in most markets.

Vacasa's Fee Structure

Vacasa charges 25–35% of gross revenue, varying by market. They do not publish a standard rate — pricing is quoted per property.

Who Vacasa Is Right For

Owners who want true full-service management with a property in a major leisure market where Vacasa has strong local presence and operational history.

Vacasa's Limitations

•       Fee percentage is among the highest in the industry

•       Scale can mean less personalized attention for individual properties

•       Has undergone significant restructuring in recent years — raising operational consistency questions

AvantStay: The Premium Portfolio Manager

What AvantStay Does

AvantStay focuses on larger, higher-end vacation homes — 4+ bedroom luxury properties, group travel destinations, premium leisure markets. Full-service management with design services and a curated guest experience approach.

AvantStay vs Vacasa

AvantStay targets luxury and group travel properties; Vacasa serves the broad market. AvantStay properties undergo interior design review; Vacasa accepts most whole-home properties meeting basic standards. Both charge 25–35%+.

AvantStay vs Airbnb

Some owners ask about AvantStay vs. Airbnb as if they're comparable choices — but they're fundamentally different things. Airbnb is a booking platform. AvantStay is a management company that lists your property on Airbnb and other platforms. The right question isn't which one to use — it's which manager to use, and whether they distribute effectively across Airbnb and beyond.

AvantStay's Limitations

•       Highly selective — most properties don't qualify

•       High fee structure

•       Smaller market footprint than Vacasa or Evolve

Side-by-Side Comparison

Evolve Vacasa AvantStay Awning
Management Fee 10% 25–35% 25–35%+ Transparent — see awning.com
Full Operations No Yes Yes Yes
Channel Reach Limited Wide Moderate 50+ channels
Property Types All All Luxury / Large All
Dynamic Pricing Yes Yes Yes Yes
Local Ops Support Owner-managed Yes Yes Yes
Cleaning Coordination Owner-managed Yes Yes Yes — see service page
Guest Guidebook Basic Basic Premium Yes — custom
Best For DIY ops owners Major leisure markets Luxury group homes All property types

How to Validate Revenue Claims: Use Real Market Data

Any management company can make revenue projections. Before accepting them, validate against independent data. Awning's Airbnb market data tool provides free market analysis. AirDNA and Rabbu / Data Rabbu are two third-party research tools worth reviewing. Use Awning's Airbnb income estimator for a property-specific projection.

Market-Specific: Florida

If your property is in Florida — one of the highest-volume STR markets in the country — see Awning's review of Airbnb management companies in Florida for market-specific comparisons of Evolve, Vacasa, and regional competitors.

The Full Investment Picture

Management fees are one component of your STR investment return. Airbnb cap rates tell you whether the underlying investment makes sense. Airbnb loan options affect your financing cost. Insurance for Airbnb hosts protects the asset. Optimize all four, not just the management fee.

📎  Awning Comparison & Research Resources

Top Airbnb Management Companies  Reviewed

Airbnb Management Companies in Florida

AirDNA Review: Strengths and Limitations

Rabbu / Data Rabbu Review

Airbnb Income Estimator

Airbnb Market Data by City

RedAwning  Portfolio Management

 

Compare Awning to Evolve, Vacasa, and AvantStay →

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