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Louis Pace
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8
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Tools to better manage property managers for STRs

Louis Pace
Posted

I have owned 2 STR properties in the 30A are of Florida for a few years. I have tried two property managers and am still underwhelmed. Most tools available for PMs are focused on renters and service providers, while the owner of the asset is underserved. I have considered self-managing but do not want the hassle - I would rather get the service I expect for what I am paying.

I am curious how others hold PMs accountable. Are there tools available, or is the market focused on the renter. I am looking for performance analytics vs. market, ticketing (vs. texts and e-mails) with SLA for listing/pricing/maintenace issues, forecast vs, actuals.

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175
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133
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Tyler Divin
  • Property Manager
  • Chattanooga, TN
133
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175
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Tyler Divin
  • Property Manager
  • Chattanooga, TN
Replied
Quote from @Jules Aton:

I'm not a fan of the price estimating sites based on my very small sample size n=2. The nightly rates are extremely low as compared to units in the same neighborhood, and I suspect impossible to include consideration of the crappy ones not being comps. These sites also pull from nearby neighborhoods that are close but not comps. PMs want heads in the bed. I get it but neither of those things are in keeing with my goals and being fully booked 8-9 months out is a red flag. I'm working on changing over to self-managing which definitely won't be easier but seems worth a try. 

We've tried several dynamic pricing tools and we felt the same way about them then we tried Pricelabs, tweaked it, tuned it, got professional help with it, had several calls with Pricelabs to fine tune.  Here we are 5 years later and I wouldn't even consider trying to run an Airbnb without Pricelabs.

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