Rental Property Investor · Corpus Christi, TX · Member since 2019 · 306 posts · 176 votes
Hello!
Getting ready to dip my toes into the STR world. I've got a few long term rentals but no STR's at this point. I'll be managing this one from a distance so I thought I'd use a management company at first and then transition to managing myself once I learn more.
Turnkey Vacation Rentals charges an 18% commission off your gross which doesn't seem bad compared to some that charge up to 35%.
I have a friend who started using them in SD, he said he was able to negotiate the rate a bit so give that a try if you haven't already. He seems happy with them, but nothing extraordinary in regards to service of quality that I could tell. Just be cautious if you plan to 'start with them' and then move over regarding who owns your listings. Many of these operators will own your listings on the booking sites and not transfer them to you if you want to leave. It's not the end of the world if you have to start fresh but you will just want to be aware of that...additionally, migrating bookings is a pain the butt often especially when you have future bookings and/or deposits in their system.
Best of luck and congrats on taking the plunge...you have to dive in...no dipping your toes. LOL j/k ;)
I have a friend who started using them in SD, he said he was able to negotiate the rate a bit so give that a try if you haven't already. He seems happy with them, but nothing extraordinary in regards to service of quality that I could tell. Just be cautious if you plan to 'start with them' and then move over regarding who owns your listings. Many of these operators will own your listings on the booking sites and not transfer them to you if you want to leave. It's not the end of the world if you have to start fresh but you will just want to be aware of that...additionally, migrating bookings is a pain the butt often especially when you have future bookings and/or deposits in their system.
Best of luck and congrats on taking the plunge...you have to dive in...no dipping your toes. LOL j/k ;)
Hey @Clint G. you can manage it yourself. Do a search on here about self management and just read the forum in general. There is a ton of info about remotely managing your place.
We do it from 360 miles away and haven't had any issues.
I’m thinking about that too, we buying in Orange Beach and live 4 hrs away but I really feel I can do it as long as I get a team local for cleaning and repairs. That’s my biggest hurdle. The charge there is 20%.
Vacasa just purchased TurnKey, so it is actually Vacasa & they charge 20% here. I like Vacasa because they have a global presence & do a good job, but there are many, many options here from self-management to blended models where you handle just the bookings to full service. Send me a Colleague Request if I can help in any way! Based in Orange Beach and we help a lot of out of state BP investors!
What market are you looking into? You're in Corpus Christi, why not there? We have one STR in Corpus Christi. We use Evolve, and are only mildly happy with them. I think the people that own the unit next to ours use Turnkey and they seem satisfied. Best of luck!
Hey @Clint G.. I don't use any kind of software to run our vacation rental. I just use the apps on the phone and chat with our cleaner in person to make sure things are on track.
I would like to save that 20% too and I don’t think it would be hard to manage and get a team together since my husband and I do that for a living although I’m worried about these huge management companies that dominate the google searches and drive people looking for condo rentals to their site. I’m not sure how to compete with them. Their sites are top notch and very impressive.
There is a lot of good information on remote management for STRs in these forums. Find a channel manager you like such as smartbnb, yourporter, iGMS etc. Reach out to other owners in the area you’re purchasing in and try and get some contacts for your cleaner and handyman list. You can automate pretty much everything yourself instead of using a property manager and use that extra cash flow for more properties. Good luck!
I have a pretty comprehensive list of recommended softwares, insurance, furnishings, etc. Happy to send your way. Just shoot me a Message on here with your email address.
I own 6 units and co-host 3 others from a few hundred miles away. Once you get things set up and dialed in, it’s not too difficult to manage around the rest of your life. I am a firefighter with 2 young kids and still manage all on my own.
Good luck and let me know if you have other questions.
I have a pretty comprehensive list of recommended softwares, insurance, furnishings, etc. Happy to send your way. Just shoot me a Message on here with your email address.
I own 6 units and co-host 3 others from a few hundred miles away. Once you get things set up and dialed in, it’s not too difficult to manage around the rest of your life. I am a firefighter with 2 young kids and still manage all on my own.
Good luck and let me know if you have other questions.
That's awesome of you to offer that up. I'll shoot you a message!
There is a lot of good information on remote management for STRs in these forums. Find a channel manager you like such as smartbnb, yourporter, iGMS etc. Reach out to other owners in the area you’re purchasing in and try and get some contacts for your cleaner and handyman list. You can automate pretty much everything yourself instead of using a property manager and use that extra cash flow for more properties. Good luck!
@Paige Hutchinson the commission is actually only 18% with Turnkey in Orange Beach. @Brandon Gibbs is the local executive tin Orange Beach and a great resource of information!
@Joe S. yes we do! Our corporate office is actually in Austin, TX. What part of Texas are you interested in and I can connect you with the appropriate team member. I personally oversee the Florida Panhandle area, but am happy to introduce you to the right person!
@Joe S. yes we do! Our corporate office is actually in Austin, TX. What part of Texas are you interested in and I can connect you with the appropriate team member. I personally oversee the Florida Panhandle area, but am happy to introduce you to the right person!