Seeking Cohost Insights: Managing 5-25 STR Properties

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Seeking Cohost Insights: Managing 5-25 STR Properties

Saad D.
Rental Property Investor · Atlanta, GA · Member since 2016 · 60 posts · 53 votes

Hey BP Community,

I’m currently conducting research on cohosting in the STR space and would love to connect with those of you managing 5-25 properties. I’m particularly interested in how you handle the financial side of things – from invoicing and payments to expense tracking and tax reporting.

If you’re open to a brief chat, I’d love to learn more about:

  • Your biggest challenges in getting paid and managing cash flow
  • How you’re currently tracking expenses and commissions (manual spreadsheets, PMS software, etc.)
  • Whether you’re using any financial tools or platforms to streamline invoicing or reporting

I’m compiling insights to better understand the needs and pain points of cohosts and would really value your input. Feel free to drop a comment or DM me directly. Thanks for your time!

Best,
Saad

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John UnderwoodPro Member
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
1y
Quote from @Saad D.:

Hey BP Community,

I’m currently conducting research on cohosting in the STR space and would love to connect with those of you managing 5-25 properties. I’m particularly interested in how you handle the financial side of things – from invoicing and payments to expense tracking and tax reporting.

If you’re open to a brief chat, I’d love to learn more about:

  • Your biggest challenges in getting paid and managing cash flow
  • How you’re currently tracking expenses and commissions (manual spreadsheets, PMS software, etc.)
  • Whether you’re using any financial tools or platforms to streamline invoicing or reporting

I’m compiling insights to better understand the needs and pain points of cohosts and would really value your input. Feel free to drop a comment or DM me directly. Thanks for your time!

Best,
Saad


 You should have commercial property management software that does this, along with a PM license and insurance which I hope you have 

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    1y
    Quote from @Saad D.:

    Hey BP Community,

    I’m currently conducting research on cohosting in the STR space and would love to connect with those of you managing 5-25 properties. I’m particularly interested in how you handle the financial side of things – from invoicing and payments to expense tracking and tax reporting.

    If you’re open to a brief chat, I’d love to learn more about:

    • Your biggest challenges in getting paid and managing cash flow
    • How you’re currently tracking expenses and commissions (manual spreadsheets, PMS software, etc.)
    • Whether you’re using any financial tools or platforms to streamline invoicing or reporting

    I’m compiling insights to better understand the needs and pain points of cohosts and would really value your input. Feel free to drop a comment or DM me directly. Thanks for your time!

    Best,
    Saad


     You should have commercial property management software that does this, along with a PM license and insurance which I hope you have 

    1Reply
  • Saad D.
    OP
    Rental Property Investor · Atlanta, GA · Member since 2016 · 60 posts · 53 votes
    1y

    @John Underwood I'm simply doing some research on the needs of cohosts. Are you a cohost?

    0Reply
    • John UnderwoodPro Member
      Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
      1y
      Quote from @Saad D.:

      @John Underwood I'm simply doing some research on the needs of cohosts. Are you a cohost?

      No, I am an investor, I own the properties I manage.
      1Reply
  • Michael BaumPro Member
    Olympia, WA · Member since 2016 · 8k+ posts · 7k+ votes
    1y

    Hey @Saad D., @John Underwood makes an excellent point.

    It is very important to start your research on what is required to manage that level of STRs. Most likely anyone will need some kind of license and strong insurance if they are in charge of 20 STRs. Without that done first, anything else won't matter much.

    Are you looking to become a property manager for STRs or ?

    I am curious as to the motivation for the research.

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

    How are you defining co-host?

    Co-host is a feature of just the Airbnb platform and some do finances, some just respond to messages.  I just find it hard to find a singular definition of a co-host.

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  • Myka Artis
    Rental Property Investor · Arlington, TX · Member since 2016 · 706 posts · 611 votes
    1y

    Hello Saad! 

    These are great questions if you're considering getting into the STR accommodation management or cohosting.

    I don't really have any challenges getting paid; I just invoice them through QuickBooks and keep track of all financials through my PMP, which is Hostfully. Communication with your clients is of the utmost importance. If I know that their numbers are lower than usual, I'll always try to reach out and offer any advice to increase profits. 

    Also, Co-hosting doesn't have as many pain points, seeing that Airbnb manages most of these features for the co-host, or at least they used to.

    1Reply
  • Max Emory
    Accountant · 100% Remote · Member since 2019 · 497 posts · 216 votes
    1y

    Hey @Saad D., the co-hosters I know use Owner Rez, Hostfully, and QBO. We serve them sometimes within our bookkeeping firm.

    For co-hosters who accept rents on behalf of the property owners are subject to state-specific requirements, such as being licensed, depending on the state. They usually have to implement a trust account.

    For co-hosters who do not accept any rents and just invoice for reimbursements and services rendered, they can usually get around the state requirements that traditional PM companies are subject to.

    I'm not an attorney. This is just what I know from working with co-hosters and traditional PM companies within our bookkeeping firm.

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