Management percentage and structure for STR
I am curious what the going rate is for management of an STR in Columbus.
I imagine it is in the range of 20 - 30% of gross rents with the owner paying for some of the utilities and perhaps the WiFi.
Can anyone shed some light on this?
We’re in Cleveland and charge 25%, which is the going rate here. Owner pays all operating expenses (utilities, lawn care, snow removal, supplies) and maintenance.
Is this just a straight 25% of gross rent paid by the guests or are their any deductions before the 25% is calculated?
excise tax?
Quote from @Curt Bixel:
Is this just a straight 25% of gross rent paid by the guests or are their any deductions before the 25% is calculated?
excise tax?
25% of gross rent before any deductions. Assuming excise tax refers to local bed taxes imposed by the city and county, it is billed to guests as an additional charge so not an additional expense for the owner.