Vacation Rental Management fees
Hello BP forum,
Question? How much to charge for the below scenario?
I have a client that lives out of state and has purchased a second home here in OR. They will use it 2-3 times a year for vacations. The rest of the time they want to rent it out as a vacation rental. They will perform the bookings, collect payments, order cleaning services. I would handle checking people in giving keys, inspections before/after, available for the guests locally. Basically be eyes on site and also arrange any needed repairs as they come up.
Typical PM fees for regular rentals are 10% and 1/2 first month rent here. Vacations are usually more but I am not offering full service as far as finding guests, for now at least.
I am a licensed broker in Oregon with our license we are also able to perform property management. I am starting to build up the business as well. I want to be fair with these clients and also be appropriately compensated for my time running around.
What does the community think of how to structure this scenario?