Best practices consulting with a Co-Host when I don't have a property yet
8 Replies
- Rental Property Investor · Philadelphia, PA · Member since 2016 · 543 posts · 716 votes1y
Quote from @Thu Pham:
Hi community, I'm in the process of acquiring my first STR property in Joshua Tree and have met with a co-host that I really liked. I'd love to utilize their expertise when assessing a property since they are local but I'm not sure what the general expectation is when I don't have a tangible property and I have not entered into contract to work with them yet.
Some questions I have are: local regulations/permitting timeline, property's potential from their perspective, landscaping/amenities cost estimate (they also help facilitate this). Should I offer to pay them for their consultation, or are these types of questions common as part of the PM vetting process and is a "courtesy service"?
Any and all advice are welcome as this is my first time working with a PM/co-host. Thank you in advance!
You should pay them an hourly rate for all of this.
After all, there’s no guarantee that you will even end up buying a property or selecting them as your cohost. So you should definitely pay them an hourly rate for all pre-purchase time they help you with. Good luck!
- 1yThu PhamMember since 2023 · 13 posts · 6 votesOP
Quote from @Mark Miles:
Quote from @Thu Pham:
Hi community, I'm in the process of acquiring my first STR property in Joshua Tree and have met with a co-host that I really liked. I'd love to utilize their expertise when assessing a property since they are local but I'm not sure what the general expectation is when I don't have a tangible property and I have not entered into contract to work with them yet.
Some questions I have are: local regulations/permitting timeline, property's potential from their perspective, landscaping/amenities cost estimate (they also help facilitate this). Should I offer to pay them for their consultation, or are these types of questions common as part of the PM vetting process and is a "courtesy service"?
Any and all advice are welcome as this is my first time working with a PM/co-host. Thank you in advance!
You should pay them an hourly rate for all of this.
After all, there’s no guarantee that you will even end up buying a property or selecting them as your cohost. So you should definitely pay them an hourly rate for all pre-purchase time they help you with. Good luck!
Thanks, Mark! That's what I'm thinking too but I haven't seen this anywhere in my research so wanted to check in with the community. Is there a rate you recommend or have seen for these types of services?
- 1ySarah KensingerPro MemberReal Estate Consultant · OH · Member since 2023 · 2k+ posts · 1k+ votes
There's no reason for someone to charge you for these questions, and I'm a co-hosting company owner! To put it bluntly....if a company can't take 15-20 minutes and talk with an investor about the market and the possible purchase of a property, they're not a company I would recommend working with. Helping others and adding value should be at the top of their list, not making another dollar! If you want they're help applying for permits or getting contractors around, that's a different story, but general questions is what every business answers the phones for.
BTW if you need a great PM/co-host company in Joshua Tree, reach out to me and I can send you some names. - 1yThu PhamMember since 2023 · 13 posts · 6 votesOP
Quote from @Sarah Kensinger:
There's no reason for someone to charge you for these questions, and I'm a co-hosting company owner! To put it bluntly....if a company can't take 15-20 minutes and talk with an investor about the market and the possible purchase of a property, they're not a company I would recommend working with. Helping others and adding value should be at the top of their list, not making another dollar! If you want they're help applying for permits or getting contractors around, that's a different story, but general questions is what every business answers the phones for.
BTW if you need a great PM/co-host company in Joshua Tree, reach out to me and I can send you some names.Thanks, Sarah! Just DM'd you. Your thinking makes sense and is what I would expect as well. I actually had an initial phone call with the co-host that ended up lasting an hour because he kept giving me tips and local knowledge. I think that's what led me to wanting more insights from him! I'm looking for a bit more dedicated time to analyze for example, my top 3 properties so that's why I'm thinking of paying for his time, since it'll be a bit more targeted and in depth than just an overview of the market.
- 1ySarah KensingerPro MemberReal Estate Consultant · OH · Member since 2023 · 2k+ posts · 1k+ votesWe offer one or two analyzed deals with comps that is complementary, so they might as well.
Quote from @Thu Pham:
Quote from @Sarah Kensinger:
There's no reason for someone to charge you for these questions, and I'm a co-hosting company owner! To put it bluntly....if a company can't take 15-20 minutes and talk with an investor about the market and the possible purchase of a property, they're not a company I would recommend working with. Helping others and adding value should be at the top of their list, not making another dollar! If you want they're help applying for permits or getting contractors around, that's a different story, but general questions is what every business answers the phones for.
BTW if you need a great PM/co-host company in Joshua Tree, reach out to me and I can send you some names.Thanks, Sarah! Just DM'd you. Your thinking makes sense and is what I would expect as well. I actually had an initial phone call with the co-host that ended up lasting an hour because he kept giving me tips and local knowledge. I think that's what led me to wanting more insights from him! I'm looking for a bit more dedicated time to analyze for example, my top 3 properties so that's why I'm thinking of paying for his time, since it'll be a bit more targeted and in depth than just an overview of the market.
- Real Estate Agent · Pasadena, CA · Member since 2017 · 276 posts · 255 votes1y
Quote from @Thu Pham:
Hi community, I'm in the process of acquiring my first STR property in Joshua Tree and have met with a co-host that I really liked. I'd love to utilize their expertise when assessing a property since they are local but I'm not sure what the general expectation is when I don't have a tangible property and I have not entered into contract to work with them yet.
Some questions I have are: local regulations/permitting timeline, property's potential from their perspective, landscaping/amenities cost estimate (they also help facilitate this). Should I offer to pay them for their consultation, or are these types of questions common as part of the PM vetting process and is a "courtesy service"?
Any and all advice are welcome as this is my first time working with a PM/co-host. Thank you in advance!
Hi Thu, self-managed STR owner in the California High Desert and realtor who has helped several clients purchase properties for the purpose of renting on a short-term basis.
General questions pertaining to the overall STR landscape should not incur a cost when directed at a PM/co-host. If a co-host/PM is trying to charge you for questions that you definitely need to ask each potential candidate just to make sure they know what they are doing, RUN. Examples of general questions are local STR regulations, general expense expectations to run an STR, etc., expectations for the owner, etc. Basically questions that the PM/co-host need to be able to answer without having to do any deep-dive analysis.
Property-specific questions such as property improvement advice, revenue potential, etc. that involve deep-dive analysis might justifiably incur an up-front cost depending on the PM/co-hosts business model.
- 1yAndrew SteffensBusiness MemberTampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
So - As a PM I do free property analyses for people who are current owners or are people under contract or even just see one that catches their eye. That is all free. If they close and sign up with us then we do a site walk etc and begin onboarding.
I am also a broker who assists in finding the property, doing walkthroughs etc and I get paid a commission at closing from seller.
Long story short I would expect them to give you an analysis of properties you are interested in for free based on the hopes of future business, if you want them to go above and beyond and attend showings etc then ask them if they are interested and offer them compensation for their time :)
Vacation Rentals of Florida53 Reviews - 10moArthur TolentinoPro MemberNew to Real Estate · Lansdale, PA · Member since 2025 · 34 posts · 15 votes
Hi @Thu Pham - I came across your post and was curious — were you able to move forward with purchasing and launching your STR in Joshua Tree? I'm currently exploring options in the area as well and looking for a reliable co-host. If you've already started operating your property, I'd love to hear how that process went and whether you'd recommend the co-host you ended up working with.
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