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Updated over 2 years ago on . Most recent reply

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Bethany James
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Fair fees for managing STR

Bethany James
Posted

I have been onboarding properties and automating them through Hostfully for a friend who is a real estate investor. We had agreed on a specific price for this initial process. She recently approached me about taking over the management (messaging and assigning cleaning/maintenance tasks) for the 3 active properties for a fee that I though was fair. I have done some research and it looks as though there are a few options for this, a flat monthly fee or a percentage based fee. I want to be fair and am looking for the opinion of STR owners. So I have 3 questions:

1. What do you feel is a fair amount for either a flat monthly fee or % based (it seems like such a wide range from what I have seen)

2. If you do a percentage based fee is that based on gross or net income for each property?

3. What do you feel is a fair fee for onboarding additional properties in the future and automating them as well as setting up a guidebook for the property? 

Thank you for your time!

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Eliott Elias
  • Investor
  • Austin, TX
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Eliott Elias
  • Investor
  • Austin, TX
Replied

15-20% is common 

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