If you're thinking of using a property manager for your short-term rental property read this!
You'll want to ask a few questions before "how much?" to make sure your property is cared for as well as generating high returns for you!
Reviews
- Does the company-managed properties have great reviews on Airbnb/VRBO/Google?
- Get referrals! Do their other owners provide great reviews about their services as well?
- Do they have a history of high-performing properties vs. others in the area?
- Do they optimize for Revenue, Occupancy or both? How is this done?
- Do they guarantee that they are giving 100% effort to maximize revenue for you and your property, or are they trying to balance revenue across many properties?
- Where will your property be found by guests? Airbnb, VRBO, or just their direct booking site?
- How often and clearly are the property performance and fees reported to you?
- Do they have an online portal for access where you can monitor in real-time?
- How will you get in touch with them if you have a question? Is there a central call-in number or do you have a personal PM or contact?
Property Care:
- How do they maintain the property?
- Is preventive maintenance included in the cost, if not what are the costs?
- Are there frequent complaints about cleanliness from guests?
Finally, How are the property management fees structured?
- Does the company take a commission on all fees, just the nightly rate, etc...
- How is the commission calculated?
- Add up all the extra "fees" to see what the real % of revenue that is taken by the management company