All Forum Posts by: Damian Spears
Damian Spears has started 1 posts and replied 3 times.
Post: Short Term Rental Property Managing
- Posts 3
- Votes 1
Originally posted by @Sean McDonnell:
Would you want to charge 15-20% of all rental income or just 15-20% of the profit?
I definitely do not think most Airbnb/VRBO hosts would be willing to pay 15-20% of their rental income to a property manager especially with how easy it is to systematize everything now.
From what I have learned so far, this would be 15-20% of the profit. I am only asking because I have seen this work before with people who have a large amount of rental properties, and would rather someone else manage their properties and still collect 80-85% while they are pursuing other interests. This is definitely new to me, so an outside input is always appreciated before I look too far into something that may not be as beneficial as I initially expected.
Post: Short Term Rental Property Managing
- Posts 3
- Votes 1
Originally posted by @Michael Baum:
Hey @Damian Spears, there are quite a few companies both local and national that do property management so there is a lot of competition.
For the 15-20% you are planning on charging, does that include cleaning and repairs at no extra cost to the owner?
Personally, that is something that I would never use. I self manage and I wouldn’t want to lose 15-20% right off the top.
Where are you planning on doing this? Many states require you to be licensed as a real estate broker or the like.
I would assume the cleaning fee would be paid by the person renting when booking the Airbnb, and repairs would be paid by the person booking the property, or through the insurance provided by Airbnb. I am basing this idea off of a friend who uses this same approach in Nashville, and I am planning on doing this in Chattanooga. My main market is to owners who have a larger amount of properties who could use this service, and not as much for those who can property manage on their own (i.e., one or two Airbnb properties in the same city). In Chattanooga, you do not have to be licensed as a real estate broker to do something of this sort.
Post: Short Term Rental Property Managing
- Posts 3
- Votes 1
I am considering starting a small business in which I manage short term rental properties for primary owners of Airbnb properties. This technique allows the primary owner to retain about 80-85% of their profit while my services ask for around 15-20%. The services include house manuals, key/code exchange, handling repairs and incidents during and after the stay, cleaning, counting inventory, and updating photos/information on the listing website. This approach is relatively new to me, and I was curious if anyone has tried this yet, or has any advice on getting started?