Soda Stays - property management alternative

[Sarah Ellenberg]

Has anyone in Dayton OH (or anywhere else) ever used Soda LLC (www.sodastays.com)?

They answered a request for info I sent via Yelp to local property managers. I'm looking for a traditional property manager for 2 of my rental homes in the Dayton area, buy I am intrigued with their model. They say they will pay me market rent for my home, not charge any fees, and then furnish and maintain the home while renting it out to corporate travelers. They claim to have a growing portfolio in the area of 96 properties. Info online is sparse, so looking here for anyone with experience with them.

thanks!

[Nathan Gesner]

Quote from @Sarah Ellenberg:

Has anyone in Dayton OH (or anywhere else) ever used Soda LLC (www.sodastays.com)?

They answered a request for info I sent via Yelp to local property managers. I'm looking for a traditional property manager for 2 of my rental homes in the Dayton area, buy I am intrigued with their model. They say they will pay me market rent for my home, not charge any fees, and then furnish and maintain the home while renting it out to corporate travelers. They claim to have a growing portfolio in the area of 96 properties. Info online is sparse, so looking here for anyone with experience with them.

thanks!

It's not property management; it's rental arbitrage and most everyone will tell you to avoid it. They are using your home to make money and you will have no control over who stays, what they pay, etc. Does your property even qualify for short-term rentals? What will your neighbors think about guests coming and going? How do you know it will be a corporate traveler and not a bunch of party animals from AirBnB? How do you know they are complying with the law, paying their taxes, or properly maintaining the home? What do you think this "company" will do when the property stops producing as much income?

They pay you $1,000 a month. They furnish it and rent it on AirBnB for $200 a night and earn $3,000 a month. If your home can produce that kind of return, why not hand it over to a professional short-term manager and earn more money yourself while maintaining control?