Struggling with lack of transparency from property managers, is this the industry standard?
I have recently hired new property management companies for my short term rentals, Avari in Navarre, Florida, and another firm in OKC, but I am already deeply unhappy with both.
Having self managed my properties for almost a year, I have a solid understanding of how things work. I am finding the lack of transparency completely unacceptable. I am not able to see the booking gross, the total fees, or how the net payout is calculated. Both companies are telling me their software does not allow for this level of reporting.
To me, this feels like a major red flag as it makes it impossible to verify the financial performance of my own assets. I am honestly at the point where I am ready to let both of them go.
I am looking for some community wisdom here:
1.Am I right to be this concerned, or is this normal for these types of management companies?
I feel quite discouraged and would appreciate any advice from those who have navigated these transitions before.
They should be able to provide an itemized list even if is it a print out from their own accounting report. They have the info (they have to for so many reasons).
Atlanta · Member since 2022 · 707 posts · 635 votes
9h
I am in the process of taking over a client from Avari in Panama City Beach. I can't say how their reporting is, but their operations were horrible. His property should have been doing more than twice what it was. But as a computer guy in my normal job, their excuse is just that, an excuse. I would not work with someone that couldn't be transparent with all their data. Running a smaller co-hosting company, always amazed at how these bigger property management companies handle their business and how they keep customers. Though I have pulled in 4 clients from the bigger companies so I guess they don't keep them all.
You are right to be concerned, but it also seems pretty normal for these companies. Maybe look at some of the smaller boutique management companies. They are generally more responsive and often times perform better because they don't make money on volume but on performance.
My biggest complaint with two properties in different locations was their pricing. While they were excellent at handling all the guest stuff which truthfully was huge and garnered positive reviews they underpriced my properties, despite multiple discussions. One had a platform with invoices that were comprehensive but 45 days after the fact so I was behind the curve with price transparency. The other guy was low tech so I got nothing but gross and net however as we were transitioning out and added as co-host the guy was honest just didn't have the time or tech to send me the details. Either way despite the additional reponsibility so far I'm happier and obviously netting more since raising rates and not paying PM fee.
Property Manager · FL · Member since 2026 · 2 posts · 0 votes
7h
It sounds like a problem with the management companies themselves. We run a vacation rental management company (Florida Vacation Collection), and our owners get insight into all of these financial metrics on a monthly basis.
I'd be glad to discuss helping with your property, if you're considering working with someone else rather than going back to doing it yourself.
They should be able to provide an itemized list even if is it a print out from their own accounting report. They have the info (they have to for so many reasons).
Real Estate Consultant · Melbourne, FL · Member since 2019 · 225 posts · 117 votes
5h
Anthony I'd ask them to walk you through one completed reservation, from what the guest paid to what landed in your account. Every deduction. If they can't explain one booking, a prettier monthly report won't help much. Did either show you a sample owner statement before you signed?