Starting a Virtual Property Management Business for STR owners
Hi all, I have been a member here for a few years now, but this is my first post! I have done 3 BRRRR properties, and currently have been running 2 of them as STR's for the better part of the last 3 years with "Super Host" and "Guest Favorite" status on my properties.
Now, I am trying to start a VPM business for STR owners where I would manage things like guest communications, maintenance communications, cleaner scheduling, dynamic pricing, calendar and review management, and the other online aspects of running a successful STR.
I was looking to see if anyone has any experience with running a business like this, or if any other STR owners had any thoughts or advice on how I might make this work as successfully as possible for me and the owners I will work with. Thank you all in advance!
Most Popular Reply
I own and manage 3 properties and started managing properties for others. First thing you have to identify, what do you bring to an owner as to why they would use your services. I only manage in Panama City beach as that is where my team is at (cleaners, tradesmen, etc). I can show how my places outperform my neighbors by a wide margin and what I do to get that performance. So will you concentrate only in the area where you own? and have you built out your proposal as to why they should choose you? is it just operational services? what about design and upgrades? just some things to think about.