If you self-manage your STR, this post is probably not for you. I own STR rental properties in Gatlinburg, Pigeon Forge, and Sevierville. Over the years I have worked with Turnkey, Amazing Views, Cabins for You (CFY), and others because each property I purchased was already under management. I consolidated with CFY after evaluating different PM companies, and since then my experience has not met expectations. They do a good job of marketing and keep keeping the cabins booked, but maintenance and inspections during turns are mediocre at best. These are mid-size cabins that sleep 10-14 people, all with amazing views, one with an indoor pool, and well maintained by me in terms of the big thing. My challenge is that I have yet to find a PM that pays attention to the details between guests and has missed reporting some major items. Issue range from little nit-picks, to big things like deck railing being broken and not reported by inspectors until it's too late, which can cause a safety hazard.
I'm interested in hearing about the experience from other vacation rental owners in the area.
Property Manager · Orlando Kissimmee Davenport Salt Lake City, Park City · Member since 2019 · 991 posts · 1k+ votes
3y
Generally the big box shops aren't the way to go in that area. I would look at a more boutique place that's going to spend more time and energy on your place rather than your place just being another home in the blender.
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
3y
We inherited Volunteer Cabin Rentals.
They are good at checking and fixing minor issues. They have an office down the road from our cabin and force guests to check in and out with them. This can head off problems as they see who is checking in. They have several full time maintenance guys that take care of the small stuff.
Our cabin is one of their biggest and most popular so they have many repeat gusts that book directly through them.
My only complaint is that they add on a 7% admin fee which is straight income for them.
Real Estate Agent · Smoky Mountains, TN · Member since 2022 · 1k+ posts · 984 votes
3y
I would be happy to talk to you. I own a property management company that grew out of my own portfolio. I created the company after finding a lack in the market place and no one I could feel good about referring my buyer clients to. We were nominated for Best of Pigeon Forge this year and have some pretty big partnerships on the marketing side.
Property Manager · Orlando Kissimmee Davenport Salt Lake City, Park City · Member since 2019 · 991 posts · 1k+ votes
3y
Generally the big box shops aren't the way to go in that area. I would look at a more boutique place that's going to spend more time and energy on your place rather than your place just being another home in the blender.
Realtor · Gatlinburg, TN · Member since 2018 · 261 posts · 155 votes
3y
If preventative maintenance is important to the owner, I usually suggest hiring a home inspector to do annual / bi-annual / quarterly inspections. That way, you have trained personnel investigating your property on a regular basis. Hire the same people a few times, and you'll be able to track problem spots, potential repairs, etc.
Or just pay regular visits to your property for DIY inspections.
Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
3y
As the original poster pointed out, risk management is something you should expect from a good PM. Poor risk management can affect your financial health just as much as a property that isn't rented, and maybe more so.
I appreciate the vote of confidence as a PM from many of you. We do not market ourselves to new homeowners per se. We are a small, "boutique" company, and only take on a new client when it is a good fit for both of us. If we do not feel we can do a good job, or if it isn't a good fit, we will pass on the opportunity. We pass up most. Better to under-promise and over-deliver.
Been a great experience. I'm a new investor with just 1 property and was a little nervous about how it was going to pan out. But repairs happen quickly. Guests are happy. No random hidden fees for guests. And the property's performing really well.
Plus, they helped us design and furnish the property which was a huge deal for us and made the pics look awesome.
Overall a great experience and will work with them again on our next property.
Been a great experience. I'm a new investor with just 1 property and was a little nervous about how it was going to pan out. But repairs happen quickly. Guests are happy. No random hidden fees for guests. And the property's performing really well.
Plus, they helped us design and furnish the property which was a huge deal for us and made the pics look awesome.
Overall a great experience and will work with them again on our next property.
"Repairs happen quickly" is so important. Stuff breaks in cabins fairly routinely. The manager's/self manager's ability to address it immediately, in order to preserve the stay and the revenue, is key.
Self management is great, but if you are refunding 20 days per year in rent because you couldn't adequately handle repairs, you probably didn't save any money by self managing.