Rental Property Investor · Las Cruces, NM · Member since 2017 · 65 posts · 38 votes
Looking at possibly buying a STR. Who do you use for PM of a short term rental? Is it just a regular property manager? I dont want to manage it myself, seems like a crazy hassle. But also would like to know how much more people are charging to manage STR's since it is definitely more work.
True a lot of PM's charge up to 30% or more, but not all do. Turnkey Vacation Rentals does not. They charge 18-23% depending on the location.
I've been in the industry for over 15 years though and a lot of manager do charge a LOT. Also, really important to make sure you are with a reputable manager who uses trust accounting to protect advanced guest deposits!
@Aaron Barber where are you looking to invest in short term rental properties?
True a lot of PM's charge up to 30% or more, but not all do. Turnkey Vacation Rentals does not. They charge 18-23% depending on the location.
I've been in the industry for over 15 years though and a lot of manager do charge a LOT. Also, really important to make sure you are with a reputable manager who uses trust accounting to protect advanced guest deposits!
@Aaron Barber where are you looking to invest in short term rental properties?
I have a Sister-in-law who is managing short term rentals in Las Cruces. I'm not sure about her rate but you could certainly contact her. She maybe found on Facebook Lacey Sherwood
I leverage a cleaning service to help with looking over everything. If you can't find someone local that specializes, checkout Hux and Turnover BNB. They can manage turnover and also fill you in on the condition of your property.
Also, you may want to evaluate your level of involvement from a tax perspective. You might receive greater usage of your write-offs if you materially or actively participate in the rental.