Anyone try Fairly.com?

[Vivian Key]

We're currently using Vacasa but have heard about Fairly a few times. We've done some homework on the differences between Fairly and managers like Vacasa but we would love feedback from any STR owners that have actually made the switch to Fairly. What has the experience been like? Are you happy with your decision?

[Collin Hays]

These national "property managers" (using that term loosely) are all very similar. They offer deceptively cheap management fees, and fund themselves through very high "add on" fees that they do not share with the client. These fees act to suppress the rents, because the grand total still needs to be something palatable to Joe Sixpack. The last Vacasa deal I looked at, the owner was paying them over 40 percent when taking into account all of the junk fees, not including suppressed rents.

And they have zero ability to actually manage properties, because they aren't on site. The best they can do is keep a short list of local housekeepers and handymen and call them in a pinch.