Boston, MA · Member since 2019 · 14 posts · 2 votes
Hi BP community - I'm closing on a house in Pittsburgh, and I'm thinking about doing Airbnb. Any recommendations on good STR management company/contacts?
Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
7y
@Doreen M ODonovan my phone rings non stop with people asking me to teach them how to fire their PM and do it themselves.
“Self managing” a VR, or even an LTR, does not mean you’re changing toilet seats. I self manage 19 doors in 4 different markets. I have a “day job,” a family with a new born, and 3 rescue dogs. I’ve also run 24 full marathons. I eat lightning and crap thunder.
Did I mention I travel constantly and I’m financially free and basically retired at 39?
My vacation rentals don’t take me more than a few minutes per day for all 5 of them. Today for instance I ignored one phone call I knew wouldn’t be important, and I sent one text. Wow. Big time suck.
I’ll gladly trade 30% of 50 grand gross on a 2 bedroom for two minutes per day.
Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
7y
@Vicky Li everyone on this forum will suggest self managing. YES you can do it from another state. I’m happy to help as my book is still yet to be finished.
Rental Property Investor · Charlotte, NC · Member since 2019 · 57 posts · 26 votes
7y
@Vicky Li Agree with what Lucas said. Try to manage it yourself first even if only at the beginning. Will help you gain invaluable insight on how to operate the property and allow you to call out any inconsistencies with a future manager if you go that route.
Hi BP community - I'm closing on a house in Pittsburgh, and I'm thinking about doing Airbnb. Any recommendations on good STR management company/contacts?
Boston, MA · Member since 2019 · 14 posts · 2 votes
7y
@Ken Latchers, @Emir Dukic, @Luke Carl, thanks a lot for the input! Have you guys self-managed from afar? I live in Boston, but have portfolio in Pittsburgh, so would love to have STR in Pittsburgh as well.
Investor · Forest Hills, NY · Member since 2014 · 101 posts · 52 votes
7y
@Vicky Li You can contact other hosts near your property and ask whether they co-host or would be interested in doing so. If you want to hire someone to manage it, it's probably better to have someone local rather than a big company like Evolve.
Rental Property Investor · Nashville, TN · Member since 2013 · 63 posts · 43 votes
7y
Managing remotely is very doable. I self-mange one short-term rental in my home market, and several more that are 700 miles away. Finding an exceptional housekeeper is task #1, closely followed by a good handy-person who can take care of the relatively minor repairs, and help refer on the major stuff. From there, its just a matter of doing excellent guest communication and marketing, which can be done from anywhere.
Rental Property Investor · Aptos, CA · Member since 2019 · 42 posts · 30 votes
7y
@Vicky Li I can’t think of anything more horrible than trying to manage short term rentals from far away. I personally am willing to pay a premium for never having to hear about the day-to-day operations of my rental. I’m about to purchase a property and Plan on paying 30%. They cover absolutely everything unlike evolve. I found property that still makes plenty of money after paying it.
Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
7y
@Doreen M ODonovan my phone rings non stop with people asking me to teach them how to fire their PM and do it themselves.
“Self managing” a VR, or even an LTR, does not mean you’re changing toilet seats. I self manage 19 doors in 4 different markets. I have a “day job,” a family with a new born, and 3 rescue dogs. I’ve also run 24 full marathons. I eat lightning and crap thunder.
Did I mention I travel constantly and I’m financially free and basically retired at 39?
My vacation rentals don’t take me more than a few minutes per day for all 5 of them. Today for instance I ignored one phone call I knew wouldn’t be important, and I sent one text. Wow. Big time suck.
I’ll gladly trade 30% of 50 grand gross on a 2 bedroom for two minutes per day.
Boston, MA · Member since 2019 · 14 posts · 2 votes
7y
@Luke Carl - Thanks for the insights haha (and I'd love read your book once it's finished). Would you suggest having great 1) cleaning team & 2) maintenance team is enough to get me started on STR?
Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
7y
@Vicky Li I don’t know a damn thing about Pittsburg other than the fact that I think I’ve been there 2-3 times. Happy to help any way I can check out my profile
Real Estate Agent · Fort Walton Beach, FL · Member since 2018 · 219 posts · 275 votes
7y
@Vicky Li I agree that if you can self-manage (have the time and the inclination) you will will make more profits. If you have to hire a management company, however, I would say go with small, local, focused on you and able to respond to the needs of your guests onsite. Evolve has glitzy adds, can take nice picture and make nice listings of your unit online but... they own the listings, they manage thousands of units and when it comes to cleaning and maintaining your place onsite they do not really assist. Your cleaning lady or maintenance guy onsite may be awesome, but will they really pick up the phone and explain to your guests how to reset the wi-fi modem at 11 pm at night? And that is the kind of issues that your guests will have most of the time. And yes, apparently no wifi is a big deal and can lead to a bad review... and that kinda kills all the brownie points from all the glitzy online pictures :-). My two cents.
Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
6y
Well, have STR in wine country Oregon. Between Vacasa, AirBnB and local, I picked local. They all want about the same amount (35%-40%), but the local guy has their own staff and not sub-contractors.
One piece of advice, if you get a >1 month tenant, should ask if you can do less of a split than shorter term tenants.
Investor · Colorado Springs, CO · Member since 2011 · 322 posts · 238 votes
6y
We have been using Evolve Vacation Rental since December 2019 for our one vacation rental in Colorado.
I have never self managed an STR so I cannot compare my experience with Evolve against self management or another firm; I can only share my personal experience. In no particular order here are some immediate thoughts regarding Evolve.
1) Accounting - I tend to leave my accounting to others. However, I spot check accounts from time to time and look for anomalies and ask a lot of questions. I do the same with Evolve. However, when I communicate with them about a particular payment, line item, fee etc. I have yet to come across a customer service rep who can interpret their own reports in an intelligent manner. Evolve has not done a good job training their folks in this regard. Or they have automated their way into a mess of accounting and third party plugins and have lost control of skynet. I don't like the idea of paying an accountant to interpret Evolve's accounting which is what I expect to do this year.
2) Management? - Our original draw to use Evolve was the idea of getting us off the ground and running quickly and efficiently as well as Evolve's ability to communicate with guests prior to check in and managing post check out issues if they arose. Evolve did the write up, took pictures, posted our home on vacation rental platforms, gave owners and guests customer service and an app for calendar management. For that they earn 10%. We were going to take care of guests once they arrived manage cleaning and maintenance. Evolve had our flanks we had the middle if you will. Also, their on-boarding process was well executed and the staff were commendable.
not so fast...
On at least two occasions guests have contacted me prior to check-in after they were advised by Evolve to reach out to me. One was looking for a complete refund 24hrs out the other was a COVID lock down related issue where guests were booked to close and in violation of local ordinance. We took care of our guests, but I promptly ripped Evolve a new one in scathing emails. Evolve was putting their monkey on my back. Both of these issues were in Evolve's wheel house and should have been MANAGED by them.
3) Customer service pre and post COVID - Before the pandemic Evolve's customer service was really quite good. I particularly liked the easy to use 24/7 reporting feature on their app and website and I took advantage of live chat messaging as needed and when I called them responses were prompt. I was happy with their attitude, efficiency and response to issues... Post COVID... Total shite-show. Getting someone to even respond let alone managing an issue has been challenging. I submitted a report of damage 4 days ago and haven't heard a peep. I have also reported, on four separate occasions, that my listing appears on airbnb's mobile app as being in a town 30 miles away from the town we are actually located! Evolve cannot resolve the issue.
4) Evolve's vetted maintenance and cleaning network - Even though Evolve does not manage cleaning and maintenance they do have a network of cleaners, maintenance and on-ground services they recommend. My experience with Evolves network has not been great. The first lady we hired was a nonstop chatty Cathy whom we needed for a post-construction clean - she showed up with homemade chili and cornbread and was trying to figure out if she wanted to be my mother or chat me up for a-bit-of-the-you-know-what. I wanted to throw myself off the balcony after an $900 bill. (expensive chili in case you were wondering). The second guy was overwhelmed and under prepared for our place, he didn't make it a half day before quitting. The third and last Evolve vetted cleaner was a drugged out junky who was literately working in the dark - no lights and curtains closed- at nano speed with her kid in the basement and dog in the car. Poor creature was wacked out on pills or something. I felt bad so I fed the kid and let the dog out, she then quit.
Evolve needs to step up and remember that home owners are their customer not guests or anyone else. I'm on my last legs with them and hope they can turn things around. Their business model reads well but execution is questionable. COVID has a put a strain on everyone so I don't want to beat them up to badly. I'm willing to give them through the end of the year or until @Luke Carl book comes out, which ever comes first.
P.S Does Evolve even have a presence on BP? if not their nose is not to the ground.