Hey all. Somewhat new to the BP community, but have been a landlord for a few years now.
My wife and I are looking to purchase an income property on Hilton Head Island for short term rental opportunities so we can utilize when its not rented out.
Since we’re 3.5 hours away, we’d be looking to find a reliable property management company/ individual who has a proven track record of success handling short term rentals.
Has anyone here had a positive experience with an organization/individual they’d recommend? We’ll be in Hilton Head for a long weekend in October so we’d like to arrange a few meet ups in advance.
Hi @RJ Bogardus . You have no interest in self management? I am over 6 hours from our STR and it is very manageable if you have the right cleaners and handypersons available.
I would have to think that you would lose 40% to a STR manager. Are you prepared to take that hit?
@RJ Bogardus yup. Self manage it’s stupid easy.
@Michael Baum @Lucas Carl - I currently self manage my long term rental in CT (from NC), but that's simple since they rarely reach out. Wasn't sure if I'd be able to handle turning the property over every week, so that's why I want to have meetings with management companies to map everything out and make a decision from there.
@RJ Bogardus To Michael's & Lucas' points, think the bigger opportunity here is education on the STR market. Sounds like this is all new to you so you aren't even sure where to start. As those guys point out, self managing is realistic but there is a learning curve (one that you would also have with a manager). Happy to talk you through some key points if interested.