This week, a Lake Norman vacation rental house -- and the Mooresville firm that manages it by association -- received national exposure that is sure to boost business.
The short-term rental on Chasestone Lane, in Mayhew (an area of Iredell County), was featured earlier this week on NBC’s “Today” show. It also landed on Vrbo’s "2023 Holiday Homes of the year" list.
Dylan Dreyer, co-host of the "Today" Show and meteorologist, spoke with Melanie Fish from Vrbo in a clip shot live on May 16, 2016 at her home. They discussed the summer travel list for 2023 and the 2023 list. A second video shows Dreyer with a friend enjoying a girls' day at Lake Norman, which included a visit to the house and a boat ride. The segments were sponsored as part of Vrbo's "Vacation Home of the Year" feature, which also went live on May 16.
Caleb Hannon said that StayLakeNorman LLC, which manages Chasestone, had secured a booking for the property in June, the same afternoon Vrbo published its list.
He said that the rental was for four nights at $17,000. They got an email about Vrbo's top properties, and this was one of them. So they booked on our site.
Vrbo is owned by Expedia Group, a leading online travel company (NASDAQ: EXPE), since 2015. It has selected 10 properties in the U.S., and one villa in Cabo-San Lucas, Mexico for its list. Vacation rental platform Vrbo said that it selected homes based on criteria such as having a star rating of 4.9 or more, "Premier host" status, and outstanding amenities and spaces.
This Nantucket inspired vacation rental is located on Lake Norman. It has four bedrooms, six and a half bathrooms, and is about 5,000 square foot. The listing says it can accommodate up to 18 guests.
What is the cost of a stay on Chasestone Peninsula?
There is also a media area, a third-floor seating area with views of Lake Norman, and plenty of indoor-outdoor living space. The home has a game area with air hockey and other games like ping-pong, shuffleboard and Peloton. It also opens to a hot tub, pool and putting green.
The property has a gated entrance and is situated on an 0.81-acre peninsula with outdoor features like a fire pit and dock. Before check-in, you can arrange for boat and water-sports rentals, chef-prepared meals, massages, and other services.
Chasestone Peninsula is only available for a minimum of three nights. The cost varies depending on the time of year and week. Vrbo's average price for a stay from Thursday to Monday in late June is $5,700 per night. This comes out to about $21,900 with taxes and fees included. If you book directly through StayLakeNorman, the cost is about $19900.
Hannon stated that Chasestone Peninsula is expected to generate over $350,000 gross in nightly rental this year. This is before expenses and commission are taken into account.
He said that it was one of his top-producing properties. It is a unique property, as there are not many peninsula lots with views like this and that offer everything.
Iredell County records indicate that the home was last sold in December 2020 for just under $3 million. Hannon says that the investor who owns Chasestone Peninsula also has a property near by, which is listed with StayLakeNorman.
StayLakeNorman creates niche for itself in the market
StayLakeNorman lists 43 properties on its website, including the Chasestone Peninsula. Hannon says that by mid-June that list will likely include at least three more homes.
He said that while StayLakeNorman partners up with Vrbo or Airbnb to show off its properties, many guests prefer to book directly through his company.
G.I. Lawrence and his wife Frances are known as 'Lawrie.' Lawrence is a longtime Mooresville Realtor and CEO of StayLakeNorman.
The idea began in 2015, when the couple built their vacation rental home at Lake Norman. The couple built a second home. StayLakeNorman began after Lawrence received numerous inquiries from homeowners looking for management services.
The company has added concierge services as well as a sister company that rents boats to make it a "one stop shop for sexy houses" for its guests.
The company focuses exclusively on luxury vacation rentals in Lake Norman, a market with affluent residential real estate. To maintain the high standards, homes must be professionally designed by an interior designer.
Hannon stated that StayLakeNorman’s short-term plan for growth is to add eight to 12 new properties per year to its portfolio. Hannon said that StayLakeNorman has just launched a new podcast featuring conversations with Lake Norman businesses on where to dine, drink and have fun.
Hannon stated that the short-term rental industry saw a huge increase in popularity as hoteliers were hit by Covid.