STR: How to Deal with Cities that Mostly Use Management Companies

STR: How to Deal with Cities that Mostly Use Management Companies

Member since 2022 · 4 posts · 0 votes

Hi there. I am looking into buying my first STR property in Ocean City, NJ. The city's majority of rentals are handled by property management companies. They handle everything from booking, cleaning and maintenance. My realtor thinks it might be an issue if I try to manage the house on my own because he's worried I won't be able to find the right team to help me out nor the renters.  I take what he says lightly because he doesn't know a ton about the STR world.  On the flipside he lives in the town, so many be he knows more than I'm giving him credit for.

What do you think?  Do you think managing it myself is a chance worth taking?  I tried looking on Airbnb and VRBO and there are some listings, but it isn't oversaturated.  Would not having many options on these sites be an advantage, or am I looking at this through rose colored glasses?

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  • Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
    4y

    Whether 3rd party management or self-managed, all the properties should be on the popular OTAs.

  • Member since 2022 · 4 posts · 0 votes
    4y
    Quote from @Mike Dymski:

    Whether 3rd party management or self-managed, all the properties should be on the popular OTAs.


    Thanks, Mike. Does that hold true for all cities? I ask because when my family and I visited OBX, we went on Twiddy's site to do the booking and they handled everything. I'm thought the house we stayed at wasn't on these common STR sites. This was 2 years ago, so maybe things have changed since then...

  • Investor · Greenville, SC · Member since 2016 · 5k+ posts · 13k+ votes
    4y
    Quote from @Alexandra Danner:
    Quote from @Mike Dymski:

    Whether 3rd party management or self-managed, all the properties should be on the popular OTAs.


    Thanks, Mike. Does that hold true for all cities? I ask because when my family and I visited OBX, we went on Twiddy's site to do the booking and they handled everything. I'm thought the house we stayed at wasn't on these common STR sites. This was 2 years ago, so maybe things have changed since then...


    Sorry, I should step back and let the experts answer.

  • Member since 2022 · 4 posts · 0 votes
    4y
    Quote from @Mike Dymski:
    Quote from @Alexandra Danner:
    Quote from @Mike Dymski:

    Whether 3rd party management or self-managed, all the properties should be on the popular OTAs.


    Thanks, Mike. Does that hold true for all cities? I ask because when my family and I visited OBX, we went on Twiddy's site to do the booking and they handled everything. I'm thought the house we stayed at wasn't on these common STR sites. This was 2 years ago, so maybe things have changed since then...


    Sorry, I should step back and let the experts answer.


     Don't be sorry!  We're all learning here.  I appreciate you stepping in with your thoughts.

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