All Forum Posts by: Monika Haebich

Evolve is a great option if you are looking to have a management company book & market your home! Unlike Vacasa, they are not providing full-service management, meaning you'll have to find someone else to do cleaning, maintenance, check-ins, etc. (or pay one of the people they recommend). 

In Florida, full-service management fees typically range from 25 to 30%, and the U.S. average is about 24% (or 28% when all fees are accounted for). 

@Joe Garvin, if you want to look at or compare other local managers, please feel free to reach out! That's exactly why my company exists. 

Also, if you are interested in a more comprehensive study of short-term rental management fees in the U.S., I'd be happy to message you with the study my company did!

Looking to increase your Orlando vacation rental's ROI? Try offering these 5 guest perks.

I've heard Parakeet & Nest are both good!

Hi Ariel,

Ah, what a great area to have a vacation home! We work with a lot of people who have homes in Palm Springs, and it is definitely a competitive market.

If you'll be managing remotely, I'd recommend automating as much as possible. You can do everything from keyless entry to noise monitoring to energy usage monitoring to remote thermostats... 

I'd also try to automate the check-in process with scheduled instructional emails, a guest book, etc. 

Even with that in place, you'll need to have a reliable team on the ground. Is your cleaning team also willing to maintain the property? 

In regard to which site to use... I'd recommend listing your home on as many as possible & using a channel manager to sync bookings across channels. If you are to pick one channel, however, I'd say HomeAway would be most relevant—assuming you're renting out an entire, luxury home & are targeting older guests. 

Hope this helps, and good luck!

I'd also look into Proper Insurance. They offer speciality vacation rental insurance, and a lot of the homeowners I've worked with have gone with them. 

Welcome, and good luck, Bernee! Loving the name you chose for the property. :) 

Grant, as long as regulation allows it, it's definitely a viable option. Keep in mind that should you operate it on your own, it will be more work than a normal, straight rental (HomeAway estimate 8.4 hours/week). 

Another option, however, would be to essentially lease it out to a short-term management company willing to pay you a fixed amount per month (even outside of ski season) & compare that to what you would make w/ a long-term rental. I've helped a lot of Salt Lake City owners find companies offering guaranteed income, so I'd be happy to see if I can help!  

Hi Bea,

HomeAway has stated that the average management fee is 24%, but that isn't necessarily the average effective rate after additional fees. At my company, we have property managers bid on homes with their lowest commission rates. All of them bid on the same contract, which is all-inclusive, and the average bid on our site is 28%.

Is there a link to your home? I can create a private profile for you on our site & see if we have any interested property managers. 

May I also ask what company you're currently using?

Best of luck!

@Jeff B., I agree with you comment on the 42% rate, and as I said, that commission is ridiculous. I would not recommend a homeowner work with a manager charging that percentage; the chart was simply meant to illustrate my point that homeowners need to do their due diligence in comparing their options—especially when it comes to comparing vacation rental property managers & their pricing.

That is not to say, however, that any form of professional property management would kill an operation. From what I've seen, the average self-managing homeowner simply cannot compete with professional managers. With lower costs, preference from OTAs, full-time staff, sophisticated technology, etc., property managers are usually able to outcompete homeowners, which is why they are able to offer homeowners guaranteed income that is often just as high as a host's net income from self-management. 

Hi all,

@Jeff B., it can be completely hands off; many people wouldn't have vacation homes otherwise. 

As to the do's and don'ts, here are a few:

1. Before buying, do your research. 

How much will a long-term rental make in comparison? Sites like Mashvisor & free online tools (e.g., we have a Rental Grader & Calculator) can help. See how similar homes in the neighborhood have been doing on Airbnb. What are their occupancy rates? Average nightly rental rate? Cleaning costs, etc. 

2. Know your costs.

Unless you're planning on using a management company that will take on these costs for you, factor in short-term rental costs like maintenance, utilities, cleaning, booking costs, insurance, occupancy taxes, home essentials (i.e., linens, etc.). If you're also considering a long-term rental instead, make sure you consider that the home will have to be furnished for a short-term rental.

3. Compare your options.

Do you want to use property management? Do you plan on self-managing? HomeAway reports that the average user spends 8.4 hours per week managing their vacation home, and the industry is beginning to even more obviously favor the professionals in the industry (Tnooz published an article on this today). 

4. If you do decided to self-manage, make sure you have the right tools. 

From remote locks & keys to booking managers to dynamic pricing tools, make sure you have the tools you'll need to be competitive.

5. If you decide to go with a property manager, also know your options. 

Don't be fooled by a property manager that offers low commission rates only to have additional fees added to your bill later.

Here's an example of what I mean (although a 42% commission is still very high):

The average all inclusive commission offer on our site is 28%, and I'm happy to help anyone compare rates in your area if you'd like.

Another option to consider is the fixed (or guaranteed) income model. Here, you and a property manager decide on a fixed monthly income for you to be paid—regardless of occupancy. 

I'm also happy to help you compare fixed income if you'd like.

6. Finally, keep up with the industry.

The short-term rental industry is rapidly changing, so make sure you're following relevant blogs & sites to see the latest in terms of regulations, technology, etc. The VRMA is a great source for an overview of industry trends, and I'm happy to refer you to a number of my favorite vacation rental blogs.