Inside Vacasa’s Lessons for STR Founders

Cliff Johnson is the former Co-Founder of Vacasa, one of the largest short-term rental management companies in the United States, and now serves as President of PadSplit, a fast-growing affordable housing marketplace. His journey from startup founder to industry veteran gives him a rare perspective on how far the STR sector has come (and what still holds it back).

In this episode, Simon Lehmann sits down with Cliff to trace Vacasa’s early days, the decisions that shaped its rise, and the lessons learned from scaling too fast. Cliff also shares how his mission-driven approach now guides his work at PadSplit, tackling housing accessibility through a completely different model.

This is an inside look at the human side of growth, leadership, and what the industry can learn from both its successes and its missteps.

In this conversation, we discuss:

• How Cliff Johnson and Eric Breon founded Vacasa during the 2008 recession and built it into a national brand.
• Why Vacasa’s focus shifted from mission and quality to growth at all costs—and what that change revealed about the industry.
• The challenges of raising capital and why positioning as a “tech company” mattered to investors.
• Lessons from Vacasa’s global expansion and what went wrong in scaling internationally.
• Why operational quality and human capital still define long-term success in short-term rentals.
• How today’s property managers can balance owner expectations, guest experience, and sustainable profitability.