Str with property management near Orlando

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Str with property management near Orlando

Dawn Harris
Member since 2023 · 12 posts · 3 votes

We have a STR managed by a property management company. They have been managing fine, although not too busy, I guess because of the market.

My question is when we see the monthly statement on the management company’s portal, we don’t see the actual booking (from Airbnb or vrbo). We only get a statement from the management company about the rate. Our concern is how can we be sure of the rate that is seen on the statement is the rate it was rented out too, when we don’t get to see the actual booking?

Is this how it works, wanted to know from people who have their star’s managed my property management company?

TIA

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Andrew SteffensBusiness Member
Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
1y

I agree with @Collin Hays its a trust issue.  You can always ask to see the reservations.

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  • Collin HaysBusiness Member
    Property Manager · Gatlinburg, TN · Member since 2020 · 3k+ posts · 4k+ votes
    1y

    This is a trust issue. If you have a PM that is stealing from you, they probably have all sorts of ways to prevent you from knowing that.

    I would be surprised if any licensed property manager is misrepresenting the rental amount on the statement. That is fraud. 

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  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    1y

    I agree with @Collin Hays its a trust issue.  You can always ask to see the reservations.

    [email protected]813-563-0877
    Vacation Rentals of Florida53 Reviews
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  • Mike GrudzienPro Member
    Lender · Eugene, OR · Member since 2019 · 2k+ posts · 1k+ votes
    1y

    You are the owner. Ask for more information or more transparency. Meanwhile, explore options with other STR PMs. Tell the possible contenders you are interested in how they format their statements and what information they include.

    2Reply
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    1y

    Keep track of the prices on Vrbo and Airbnb. When they book it just be close to that price. It will at least give you an idea if the PMs records are way off what you think they should be.

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  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    1y

    Yup @Dawn Harris. Ask them all the details. Don't let them keep you in the dark about what they are charging vs what they are telling you they are charging.

    0Reply
  • Josh SedivyBusiness Member
    St. Louis, MO · Member since 2024 · 134 posts · 55 votes
    1y

    It's great that you're focusing on ensuring full transparency with your property management company. As a property management company ourselves, we use Guesty, which offers an Owner Portal. This portal provides owners with full visibility into all reservations, allowing you to see detailed booking information, including rates and sources like Airbnb or Vrbo.

    Transparency is crucial for building a successful business, and platforms like Guesty enable real-time access to booking data, ensuring owners are always up-to-date with rates and reservation details. If you're concerned about whether the rates match what was rented, we recommend asking your property management company if they can provide access to the booking details. Alternatively, you may want to consider switching to a platform that offers this level of transparency.

    Additionally, on both Airbnb and Vrbo, if you have access to the account, you can view the transaction history. Both platforms have a feature that shows monthly transaction details, giving you insight into each booking and its corresponding rate. Hope this helps! 

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  • Alice Horn
    Property Manager · Kissimmee, FL · Member since 2019 · 445 posts · 266 votes
    1y
    Quote from @Dawn Harris:

    We have a STR managed by a property management company. They have been managing fine, although not too busy, I guess because of the market.

    My question is when we see the monthly statement on the management company’s portal, we don’t see the actual booking (from Airbnb or vrbo). We only get a statement from the management company about the rate. Our concern is how can we be sure of the rate that is seen on the statement is the rate it was rented out too, when we don’t get to see the actual booking?

    Is this how it works, wanted to know from people who have their star’s managed my property management company?

    TIA

    Hi Dawn, regarding your occupancy, with in effective dynamic pricing policy, you should still be able to beat the market while weeding out “bad” guests. 

    Not being able to see actual bookings is deeply concerning. Most softwares will list (at least) name of guest, stay dates, ADR, and revenue to owner. You shouldn’t have to go to a second platform to verify a booking.

    I’m happy to jump on a call to review your current occupancy compared to the market, as well as “the anatomy of a statement.” Just let me know.


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