Local STR/Vacation Rental Property Management Companies

Short-Term & Vacation Rental Discussions
7yFollow

Local STR/Vacation Rental Property Management Companies

Steven Andrews
Rental Property Investor · Member since 2019 · 30 posts · 19 votes

There's lots of discussions in these forums of the pros and cons (mostly cons) of national STR/vacation rental property management companies like Evolve, Vacasa, etc. I've had good experience with a local property management company that is full service but isn't charging a 30%-60% commission and I'd like to find others. It seems like these smaller shops provide better and more personal service to owners and guests alike and I'd like to identify more of this boutique firms.

I don't care what part of the country, if you know of a high-quality full-service STR vacation rental prop management company in the 15-25% commission range please let me know. Thanks!

1Reply
70 views

Most Popular Reply

Benjamin Vail
Real Estate Broker · Columbus, OH · Member since 2016 · 181 posts · 244 votes
7y

@Steven Andrews to answer your question, there are starting to be several smaller shops for STR property management. I run one as well. We charge 25% for full-service, and less in some situations. Our clients love it, because they are completely hands off and have great profits. We have grown quite rapidly in Ohio (Columbus and Cincinnatti), and have doubled our portfolio size again in the last year. We are now managing 46 units, and are working on expanding to new states as well (TX, PA, KY). It is not our goal to be as big as the big players (Vacasa, Evolve, Turnkey). My worst fear is taking on more than we can properly manage, and I see the big guys doing that ALL THE TIME! But our goal is steady, sustainable growth, and to be more of a great service for individual investors to gain experience and profits in the short term rental space without having to reinvent the wheel.

I know my friends @Luke Carl and @John Underwood always want to promote the self-Managment style, but the reality is some people just want to hire a bit of specialized help, instead of take on the learning curve and pay their dues by making costly mistakes. Also, some (high net worth individuals) value their time at a high enough price they would rather pay a manager to do the day-to-day stuff. 

- Cheers!

4Reply
See this reply in the discussion

23 Replies

Jump to latestLatest
  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    7y

    How much is your PM company charging?

    Remember this off your Gross profits. So they take their profit off the top from all income, but you have to pay your mortgage, utilities, taxes, advertising, cleaning, landscaping, insurance etc.

    If you don't have a great vacation rental property in a great location that is really pulling in the money then there isn't much meat on the bone left for an average performing property.

    1Reply
  • Luke CarlPro Member
    Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
    7y

    @Steven Andrews The best part about STR is self management is easy from anywhere in the world IF you're in a heavy tourist market.

    Podcast Guest on Show From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills
    4Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    7y
    Originally posted by @Luke Carl:

    @Steven Andrews The best part about STR is self management is easy from anywhere in the world IF you're in a heavy tourist market or with a large labor intensive industry.

    FIFY Lucas

    0Reply
  • Steven Andrews
    OP
    Rental Property Investor · Member since 2019 · 30 posts · 19 votes
    7y

    Thanks for the responses John and Lucas. I understand what prop management companies do and how the commissions work and I understand the non-commission benefits/savings of self management. But for those who aren't able to self-manage or don't want to....

    I return to my original question...

    Anyone know any good local, boutique, low-commission but full-service property management companies? I've met a few owners/operators of them here on BP but hopefully members can shed light on others. Thanks!

    1Reply
  • Kenny Dahill
    Investor · Tempe, AZ · Member since 2018 · 1k+ posts · 731 votes
    7y

    @Steven Andrews, are you looking in a particular market?

    0Reply
  • Steven Andrews
    OP
    Rental Property Investor · Member since 2019 · 30 posts · 19 votes
    7y

    @Kenny Dahill Any market is fine. Just trying to get a 40,000-foot view to see what's out there.

    For example, here's a realty firm that also does vacation rental management in North Carolina for 15-20%: https://www.sunsurfrealty.com/...

    I've found other similar companies in that range in other places. Just trying to see what anyone else knows.

    0Reply
  • Julie McCoy
    Real Estate Agent · Sevierville, TN · Member since 2015 · 1k+ posts · 1k+ votes
    7y

    I was impressed with Carolina Cabin Rentals in the Boone, NC area; they charge 20%.  They've never been my PM, but seem to be a big enough operation to run smoothly while still having their stuff together.  

    1Reply
  • Wendy Schultz
    Property Manager · Wisconsin and Florida · Member since 2017 · 346 posts · 227 votes
    7y

    Hi Steven, we fit that bill. We are really focused on maximizing your revenues because when your property does well, we do well too. We have a case study where we took on two properties owned by the same person who were with a different property manager. Since they switched to us in May, we've already increased their gross revenues by over $18,000 YTD. Over 125% increase. Other property managers may charge less but do they maximize your revenues and consult with you on how to buy and furnish a property that will rent well? So many owners that self manage leave a lot of money on the table too or they get too controlling and lose money that way. 

    2Reply
  • Steve RozenbergPro Member
    Specialist · Houston, TX · Member since 2015 · 1k+ posts · 1k+ votes
    7y



    It is very important that you make sure you take the time to interview and have candid conversations with a PM company. Let them know your strategy, your goals and what your business plan is to ensure that your business plan aligns with theirs and you can both work towards the same goal. If they are not aligned then simply keep looking till you find one that is.I would look up NARPM and start with them..Below are some questions I would think would be a good starting point for you to see who really treats their company like a business or a hobby.
    My business partner is a regional VP for NARPM and I am happy to help if you need anything please reach outQuestions to Ask prospective management companies

    • What are your average days on market for vacant homes?
    • What is your average rent amount for all properties managed?
    • What is your average work order cost for the owner?
    • What is your average make ready cost for the owner?
    • Are all my invoices uploaded to my owner portal?
    • How do you advertise your vacant units?
    • Do I receive video of my pre and post make ready?
    • Do you have a setup fee?
    • Do you upcharge on maintenance?
    • When do you make owner payments? How often?
    • Are you a Certified Property Manager?
    • Are you a member of NARPM?
    • What is your Guarantee?
    • Do you provide move in and move out reports
    • How many pictures do you take of the property prior to tenant moves in and after the tenant moves out
    • Do you get weekly reports when the property is vacant what prospective tenants are saying about your home
    • Do you provide monthly newsletters to your tenants
    • Do you hold investor education classes to help me become a better investor
    • Do you have single point portfolio based management services?
    • How many properties do the owners actually own themselves?
    • What do you do to ensure that the tenant is responsible for security deposit disputes since that is the largest reason for owner lawsuits
    • How familiar are you with the newly changed laws that can affect you the owner if they are not used correctly?
    0Reply
  • Paul Sandhu
    Investor · The worst town to live in, KS · Member since 2016 · 4k+ posts · 4k+ votes
    7y

    I manage my own STRs. The guy up there ^^^ has some valid questions. But I'll tell you stuff from my own experience with 23 STR in a refinery town.

    What will you do when you find an unconscious and unresponsive tenant from a narcotic overdose?

    What will you do when there are prostitutes frequenting your properties?

    What if some of you tenants have pet rattlesnakes that escape?

    What do you do when a tenant with no family contacts dies in your place?

    What if one tenant is having adulterous liasons with his neighbors wife, and things lead to fisticuffs at another property?  

    Minor things are like the washer/dryer don't work, internet doesn't work, etc

    1Reply
  • Benjamin Vail
    Real Estate Broker · Columbus, OH · Member since 2016 · 181 posts · 244 votes
    7y

    @Steve Rozenberg - I think you missed that they were asking about Short Term Rental Property Managment. It sounds like you have great systems for long-term property management, but I don't see your most of your questions being relevant for STR. This is an STR forum just FYI. Or is this just a canned response that you post to any forum that mentions finding a property manager?

    2Reply
  • Steve RozenbergPro Member
    Specialist · Houston, TX · Member since 2015 · 1k+ posts · 1k+ votes
    7y

    @Benjamin Vail

    I would say that management is management. It's about processes , procedures and systems.  This is even hyper important in a short term cycle market like short term rentals 

     I think setting expectations with whoever you use should always be the biggest priority when interviewing a company.

    Some may and some may not be relevant. The reason I use a wide array is that there is no set short term rental Moreland no short term rental exact science. They are all different due to area, cycles, price points, seasons etc.. All companies manage and operate differently so you need a wide array of questions to choose from.

    This is not a guide exact it is merely a reference. Also there are many companies like mine that do manage both Short term and long term rentals

    0Reply
  • Benjamin Vail
    Real Estate Broker · Columbus, OH · Member since 2016 · 181 posts · 244 votes
    7y

    @Steven Andrews to answer your question, there are starting to be several smaller shops for STR property management. I run one as well. We charge 25% for full-service, and less in some situations. Our clients love it, because they are completely hands off and have great profits. We have grown quite rapidly in Ohio (Columbus and Cincinnatti), and have doubled our portfolio size again in the last year. We are now managing 46 units, and are working on expanding to new states as well (TX, PA, KY). It is not our goal to be as big as the big players (Vacasa, Evolve, Turnkey). My worst fear is taking on more than we can properly manage, and I see the big guys doing that ALL THE TIME! But our goal is steady, sustainable growth, and to be more of a great service for individual investors to gain experience and profits in the short term rental space without having to reinvent the wheel.

    I know my friends @Luke Carl and @John Underwood always want to promote the self-Managment style, but the reality is some people just want to hire a bit of specialized help, instead of take on the learning curve and pay their dues by making costly mistakes. Also, some (high net worth individuals) value their time at a high enough price they would rather pay a manager to do the day-to-day stuff. 

    - Cheers!

    4Reply
  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    7y

    @Benjamin Vail 25% is cheap. I know some companies in the area that offer full service (including furnishing) for 50%. If you provide this for 25% I would be interested in talking to you, the next time I have a turn. I was thinking about doing it myself but would rather give it to you and spend my time elsewhere.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
    Reafco512 Reviews
    WebsiteView Page
    0Reply
  • Emir Dukic
    Rental Property Investor · Charlotte, NC · Member since 2019 · 57 posts · 26 votes
    7y

    @Steven Andrews We do management services for 25% in Charlotte, Atlanta and Savannah primarily. Happy to answer any questions that you may have.

    1Reply
  • Ken Latchers
    Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
    7y

    dup

    0Reply
  • Ken Latchers
    Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
    7y

     I would say that anybody who pays 25 to 50% to manage any short-term rental should not be doing remote. You are not going to be making the money you think you're making.

    It's totally unnecessary  and makes it no longer as profitable as you think

    0Reply
  • Steven Andrews
    OP
    Rental Property Investor · Member since 2019 · 30 posts · 19 votes
    7y

    @Ken Latchers hence this thread... I've found quite a number of good prop managers in the 15-20% range that help make it more profitable for people who can't self-manage. 

    0Reply
  • Ken Latchers
    Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
    7y
    It is not more profitable, it is only that the owners do not understand the dynamic pricing and automation and  being listed on all the booking websites and a good property management system. In other words, property managers are preying on  And take advantage of the ignorance of the owners.

    people on this forum try to help them to avoid this somewhat unscrupulous behavior that steal so much of their profit

    posted by @Steven Andrews:

    @Ken Latchers hence this thread... I've found quite a number of good prop managers in the 15-20% range that help make it more profitable for people who can't self-manage. 

    0Reply
  • Steven Andrews
    OP
    Rental Property Investor · Member since 2019 · 30 posts · 19 votes
    7y

    @Ken Latchers I totally understand how dynamic pricing works. If you don't like vacation rental property managers don't reply to a thread on them. There's no need to impugn the intelligence of those owners who use them.

    1Reply
  • Ken Latchers
    Hatfield, PA · Member since 2012 · 1k+ posts · 629 votes
    7y

    The owners only need the property managers because they're ignorant of everything else available to them. Property managers are totally irrelevant and unnecessary. As has been discussed at great lengths in this forum.

    the only ones who tend to defend the property managers are property managers who post here

    0Reply
  • Zachary Betters
    Flipper/Rehabber · Charlotte, NC · Member since 2015 · 93 posts · 31 votes
    7y
    Originally posted by @Emir Dukic:

    @Steven Andrews We do management services for 25% in Charlotte, Atlanta and Savannah primarily. Happy to answer any questions that you may have.

    This guy is legit! Emir and his company are top level! Just what you need for a STR company.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free