All Forum Posts by: Kate Stoermer

Okay, just to counter the perspective; if you are buying as an investment did you plan to take on a job? Self-management isn't just about hiring cleaners, its very much learning the nuance of the STR market, how to navigate all the various software, how to market the property - from photos, to listing copy, to policies, etc and then staying on it. Also, its being on call 24/7. How much is your time worth? What's the opportunity cost of putting you time into managing vs putting your time into other endeavors.

I just wanted to validate its okay to run your business and your life in accord with your goals and the value you put on your time, and it's just fine to outsource. 

For the question you actually asked -  Use AirDNA to find the top grossing properties in the market, see who is managing them and call those PM.  I don't know the market, but that's how I'd find the best PM.  I find smaller, more boutique managers often do the best job; they know the nuances of the market, and they can eek enough out of your property to cover their salary vs if you did it yourself. 

There are a couple of courses out there to train co-hosts - and likely those programs help you find leads to get started.  I know Bill Faeth has a program for sure.  I'd advise starting there. 

I'll note co-host is a pretty broad description and it will be up to you and your clients to refine what the job is. That said, the key - number one role, of any STR is to optimize revenue and STR is all about marketing and positioning the offer (the listing) - getting the pricing, photos, and copy correct in addition to delivering an A+ experience. A co-host will be expected to know this and how to achieve it and execute on it in order to be successful.

Also, keep in mind some states are very strict about what it means to be a co-host.  

Good luck!