Rent Properties to Vacation Rental Manager
I have a small 3/2 no-pool upgraded house in Fort Lauderdale zip code 33315 that receives several calls from vacation rental managers. Some of them want to rent it from me for $3500+/mo and turn the property into short-term rental themselves; others want to to charge a percentage of gross revenue for full service management (They claim that it generates minimum $5000-$6000 revenue. I am not sure if this number is exaggerated though as I have no experience in short-term rental market). Which one of these 2 types of lease is better? For the percentage-based full service, what percentage do you pay?
Anyone with short-term rental experience can offer some tips and recommendations? Thanks!
Most Popular Reply
I have managed some short term rentals in Fort Lauderdale and Pompano Beach. Those numbers seem plausible, but homes without pools don't do as well. I am getting out of the management business. There are a lot of hassles with short term rentals. I would be especially cautious about letting someone sublet your home as a vacation rental. My recommendation is don't bother. Just as an annual rental your home should do very well without the potential liability vacation rentals bring.