All Forum Posts by: Monika Haebich

Hi Chris,

I'd say we probably see the most demand in our marketplace from property managers in Downtown & Midtown.

Another thing to keep in mind if doing short term rentals there: http://www.nashville.gov/Codes-Administration/Construction-and-Permits/Short-Term-Rentals.aspx

Frank, if you'd rather get a guaranteed amount per year instead of paying a commission and taking on the risk, you could always do an outright rental where a manager would pay you to manage the home for a year. They'd also be in charge of paying for maintenance, occupancy taxes, booking/marketing, etc., so it could be an easy way to take away the risk of self-managing or even working with a traditional PM.

Hi Adam,

One way to manage the home from afar would be to ask the manager to take on the financial risk by offering you an outright rental where they pay you a fixed amount. Because they're financially responsible for paying you regardless of occupancy rates, it's going to be in their best interest to maintain the home in proper condition. In an arrangement like this, they'd also have to pay for any damages caused by guests, light maintenance, etc., which would again align your incentives and make them extremely careful with vetting potential guests.

Hi Cassie! 

Welcome to the site! :) I'm not a property manager, but I work with hundreds of homeowners doing short-term and vacation rentals.

If you have any questions, I'd be happy to chat! 

Best,

Monika

Hi guys,

I'm planning a webinar on short-term and vacation rentals, and I was curious to see what topics you'd be interested in learning more about.

Any suggestions for webinar topics that you'd find most appealing?

Chris, will you be paying other fees on top of that 40% commission fee (ie who pays for linens? marketing? pest control (if applicable)? maintenance? etc.)? If 40% is all inclusive, it seems like it could be a fair offer. If you're going to be paying fees and getting nickled and dimed on top of that, I'd also look into other options.

rented used to do only guaranteed offers, but they actually just opened up a commission marketplace to make sure owners are getting the best offers from managers in their areas. Essentially, the company puts your property to a non-committal auction, and managers bid with the lowest commission rate they could offer and their rental projection. 

If you'd like more detail, I'd be happy to chat! 

Hi Bryan,

Welcome to the site! I'm not a property manager, but I work primarily with homeowners looking to do outright rentals with vacation homes (it's one way of just passing off the risk and having a manager buy out a year of weeks with a guaranteed income offer). 

If you'd ever like to talk about where our managers have demand, it's always a decent way of gauging industry interest in particular areas. 

Let me know if I can be of help! 

Best,

Hi Chere,

Very cool! I'm very passionate about the sharing economy, so I always love hearing of people hosting on Airbnb. 

Have you considered doing an outright rental before? I'm not sure how good of a fit it'd be, but it's the model where someone would essentially buy out your weeks for the entire year. It's definitely one very new and creative way of further liberating you from self-managing if that's what you're currently doing. 

If you have any questions about vacation rentals or the short-term rental space, I'm always happy to chat. :) 

Best,

Monika 

Love the blog post @Logan Allec. Definitely sharing. There's a lot of value in automation and professionalization. 

@Sean Walton, while yes there are lower barriers, the popularity of sites like Airbnb and HomeAway are also changing people's preferences completely and growing the pie: In 2013, traditional rental sectors and the sharing economy combined were worth $225 billion. By 2025, PwC estimates that they'll be worth a combined $670 billion, with the sharing economy growing from $15 billion to $335 billion.

Combine that with the need and demand for professionalization within the industry, and there's plenty of room for a seasoned investor to do well in the space. 

Also, if you can do an outright rental where you pass off all of the risk to a property manager (and not pay commission), it becomes a lot easier to justify.