Should the Co-Host or Owner Pay For Startup Costs?

Question

I'm looking to start a co-hosting business, and I was wondering if there is proper etiquette when taking on a new client. I have done research on the smart tools that would be useful to manage a property, and I'm thinking about Smartbnb, August locks, Pricelabs, Hostfully, Party Squasher, Noise aware, etc. After calculating the costs, it looks like the total comes out to around $1,000.

I'm wondering if it should be my responsibility or the owner's responsibility to buy these things for the property? On one side, it protects the owner's property. On the other side, it helps me do my job easier. $1,000 is a small price to pay to start a business, but I would still like to get some insight!

Thank you :)

Bruce Woodruff · Answer

IMO, you need to buy these to give yourself value. If I were the owner and had to buy them, I would be thinking.... hmmmmm, why don't I just use these instead of going in with a co-host?

Ryan Moyer · Answer

Back before I found the joys of self managing, any time I got a quote from a PM they included those items in startup costs that I as the owner was expected to pay.

John Underwood · Answer

I don't know that you need to spend all the money on this stuff.

You could start off with a lockbox and keys. I still use this and have had no problems with it.

I manually set my prices with minimal effort so I don't subscribe to any pricing software.

Kendra Star · Answer

Yes I agee my co-host provides all of these. This is what gave them value and why I decided to go with a co-host

Alex S. · Answer

I don't use a co-host, but I would expect to pay for any permanent improvements to my property.  SmartBnB (name changed to hospitable.com) and other software subscriptions fall in your lap, I think.

Luke Carl · Answer

Why wouldn’t they just hire a PM who’s not small potatoes

Brent Barnes · Answer

@Kendra Star great to know! That's nice that it provides value for me as a co-host. Thanks for your reply :)

Brent Barnes · Answer

@Bruce Woodruff thank you! That makes total sense. I'm glad it's an easy answer!

Should the Co-Host or Owner Pay For Startup Costs?

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