All Forum Posts by: Monika Haebich

Eric, if a professional property manager would be willing to pay you each $9186 per year (or more) to manage the home for you, would you be interested? They'd be liable for guests & most operational costs. 

Hi Nancy,

I really would say it depends on the location and market. Managing a vacation home can be a lot of work (as I'm sure you know), but it can also be an incredible place to create family memories and create passive income. 

Nice! Year-round demand in Hawaii makes it a really great place for vacation rentals. Where in Hawaii are you thinking of purchasing?

Hi Sonja! 

A lot of the property managers I work with are looking to manage vacation rentals right now in Orlando, PCB, Miami, Fort Lauderdale, St. Augustine, Cape Coral/Fort Myers, Naples, Destin, & 30A. 

If you have any questions about specific areas, I'm always happy to talk! :) 

Welcome to the site, Nikki! 

@Neal Collins, here is more information as requested from the Vacation Rental Managers Association Review on rental rights and fixed rent deals: Fixed-Rent Contracts

@Brian Hood, love the feedback! The calculator I shared is primarily for current homeowners to figure out how much they're currently making, but it would be really helpful to have some sort of tool to compare long v. short term rental returns. I'll have to see if I can build something like that. 

@Dan Madden, yes you can respond to guest reviews online. I also recently came across this tip on avoiding bad reviews, and it seems like a really great idea.

@Neal Collins, it's essentially a way for property managers to quickly grow, acquire new inventory, & maintain full control over rental properties and an easy way for homeowners to get guaranteed yearly rental income and turnkey service. The idea is just that PMs can buy rental rights (aka buy out a homeowner's available weeks) at a fixed price in bulk and sell them short-term to guests for more. 

Hi Neal,

Great tips. The more flexibility you have and the better understanding you have of the various needs of your market, the better you'll do as a vacation rental property manager.

Some additional things homeowners should consider: 

•  marketing costs
• booking costs
• occupancy taxes
• maintenance 
• essentials (e.g., shampoo, conditioner, soaps, light bulbs, towels, etc.)

Here's a calculator that you can use to calculate how much you're actually making from each property. 

Of course, all of this is not to say that you can't make money by renting out your second home on Airbnb or VRBO. A lot of homeowners make vacation rentals significantly less risky by selling their rental rights in bulk to property management companies, and if anyone would like to discuss that, I'm always happy to chat. 

Hi @Haley Varner! Just messaged you, but there absolutely is short-term rental demand for Atlanta properties. 

Business travel and urban markets are becoming hugely popular with sites like Airbnb and VRBO. In fact, the second most popular summer destinations after beaches are cities (and that’s placing them ahead of lakes, mountains, international travel, resort destinations, and national/state parks). 

Business travel is also a $120 billion market, so there is a lot of potential there if you can market your property towards that crowd. 

In terms Atlanta specifically, Atlanta is actually one of the top 5 U.S. markets in terms of demand per listing according to HomeAway, so I'm sure you'll do well here! :) 

Hi Jordan! I have a ton of short-term rental experience in that area! Do you have any specific questions? I'm not a Property Manager, but I work with a lot of homeowners there.

I'm happy to schedule a time to talk on the phone if you'd like! Good luck!