Property Management FAQ

What is a STR property manager?

A STR (short-term rental) property manager is an individual or organization responsible for managing a property rented out for short-term stays. This could include managing the property’s day-to-day operations, overseeing bookings, collecting rent, and dealing with tenant issues. They may also be responsible for marketing the property, ensuring it meets local regulations, and ensuring it is kept in good condition.

How much do STR property managers usually charge?

STR property managers typically charge a fee that can vary depending on the size and complexity of the property being managed. Fees usually range from 20-25% of the rental income on a monthly basis but may include additional charges for specific services such as bookkeeping, marketing, maintenance, and more. It is best to speak with a property manager about the details of their services and fees to get a better understanding of the total costs.

Do I need a property manager?

Owning a short-term rental can be a great way to generate extra income, but it also comes with some extra responsibilities. Whether or not you need a property manager really depends on the size and complexity of your rental property. There are some advantages to having a property manager, such as having someone who is available 24/7 for rental inquiries, managing any maintenance or cleaning issues, and handling any disputes that may arise. However, if your rental is small and you are comfortable managing it on your own, you may not need one. Ultimately, the decision is up to you and should depend on your budget and the amount of time you’re willing to devote to managing your rental.

What are the benefits of hiring a property manager?

Hiring a property manager can provide many benefits to those who own rental properties. A property manager can help you maximize your rental income, keep up with maintenance and repairs, ensure your tenants are following the rules of their lease agreement, and handle tenant disputes. With their expertise, they can also help you make decisions about marketing, pricing, and other important aspects of managing a rental property. Additionally, a property manager can help you save time and energy by dealing with the day-to-day activities of running a rental property. 

Property management is one of the more challenging aspects of running a short-term rental, and many hosts mention the difficulty of finding a good management company. This is because profit margins are slim in the STR property management area. While you’ll be able to enjoy your weekends, your company may not give your rental the attention you want. If you’re looking for a property manager who loves your business as much as you, expect to pay 30-40% of the rental income.

What are the benefits of managing my own property?

Managing your own property can be a great way to maximize your returns on investment. It can help you save money on property management fees, as well as give you more control over the maintenance and upkeep of the property. You can also have the ability to determine rent rates and have more flexibility to make decisions that are best for your property. 

The tradeoff is that you’ll be responding to customers and taking care of property emergencies. Have an AC go out on Labor Day weekend? You’re in charge of finding and scheduling that repair person.

When should I consider hiring a short-term rental property manager?

If you are considering renting out your property for short-term stays, you should consider hiring a short-term rental property manager. A property manager can provide invaluable help in managing your rental property and can help ensure you have a successful rental experience. They can help you market your property, set rental rates, handle bookings, manage guest communication, and more. Additionally, they can help you keep up with local regulations and ensure your property is in compliance with those regulations. Hiring a property manager can help you maximize your profits and minimize your stress.

What services do property managers provide?

Property management companies offer a variety of services. Some items they may cover include:

Services include:

  • Channel Management
  • Guest communication
  • Guest Screening
  • Handling check-ins/checkouts
  • Arranging cleaning
  • Maintenance
  • Restocking supplies
  • Social Media handling
  • Marketing
  • Advice on Local laws and regulations

Can my short-term rental make money if I have to pay a property manager?

Yes. Many short-term rental owners find their investment profitable even after paying for a property manager. It all depends on the type of rental you have and the amount of work you’re willing to put into it. A property manager can help to maximize your rental income by making sure that your rental is well maintained and marketed to the right audience. They can also assist with day-to-day tasks such as cleaning, scheduling, and responding to inquiries. With the right property manager, you can enjoy the benefits of having a short-term rental without the stress of managing it yourself.

If I have a property manager, do I still need to find a cleaner?

While it may be possible to ask your property manager to find a cleaner to come in and take care of your property, it is ultimately up to you to decide if you want to find a cleaner yourself. It is a good idea to do some research and find out what kind of services the property manager provides, as well as what kind of cleaning services are available in your area. You may also want to consider the cost of hiring a cleaner and compare it to the cost of having the property manager do the work. Ultimately, the decision is up to you, but it is important to weigh all of your options before making a decision.

What are some of the fees property managers may charge?

You should expect an initial setup fee when hiring a new property manager. This will depend on the company’s services and your property’s size. You may also have maintenance, cleaning service, and vacancy fees, depending on your contract.

How do I find AirBNB and VRBO property managers?

Finding short-term rental property managers can be easy if you know where to look. 

First, you can start by checking out our property manager recommendations. You can also start by researching online for reviews of property managers in your area who have short-term rentals experience. You can also reach out to your local property management organizations to get referrals from other members. 

Additionally, you may want to connect with other short-term rental owners in your area to get their recommendations. You can also search for VRBO property managers on sites like Airbnb, HomeAway, and VRBO.

Is it okay to ask for references?

Yes! References are some of your best tools to finding quality property management companies.

Who are the top ten short-term rental property managers?

The top ten short-term rental property managers are:

  1. Hostmaker 
  2. Hostfully 
  3. Hosty 
  4. Airsorted 
  5. Guesty 
  6. BNB Guardian 
  7. Rentals United 
  8. Rentals.Management 
  9. Host.Tools 
  10. Smart Host. Each of these companies offers excellent property management services for short-term rentals and can help you maximize your rental income and minimize your stress. Be sure to research each one to find the best fit for you and your rental.

The 7 best Airbnb property management companies include:

  • Awning: Best Overall Full-Service Airbnb Management Company
  • Evolve: Best Half-Service Management Company
  • Vacasa: Best Full-Service Management Alternative
  • AvantStay: Best Luxury Airbnb Management Company
  • Skyrun Vacation Rentals: Best Local Property Management Company
  • Air Concierge: Best Pricing Model
  • Casago: Best for Management Mixed Rental Portfolios

What should I look for in an STR property management company?

When looking for an Airbnb management company, several important factors must be considered. First, you want to ensure the company is experienced and knowledgeable in managing Airbnb properties. Ask for references, and make sure they have a track record of success. Next, determine the services they offer and make sure they are tailored to your needs. Do they offer cleaning services, guest communication, and other services you may need? Additionally, make sure the company is transparent about its policies and fees. Ask about any additional charges and what the payment terms are. Finally, look for a company that provides excellent customer service and is responsive to your inquiries. Researching your options before selecting a management company will ensure you have the best possible experience.

Here’s a quick checklist to consider before signing a contract:

  • Costs: Calculating costs and upfront fees to make sure there’s still room for you to make a profit.
  • Size of Company: If you live in a rural area, it will likely be harder to find a manager. Companies with larger service areas tend to have more resources than small property management companies, but you may get less attention when you sign with a large company.
  • Customer reviews: One of the best ways to see if a company is reputable is to read through customer reviews. Trustpilot, Google Reviews, and the Better Business Bureau (BBB) are good places to start your search.
  • Services Provided: Some property management companies offer extra perks and services compared to others. Some handle marketing, guest communications, experiences, cleaners, and maintenance, while others offer fewer options.
  • Terms: Make sure you understand how easy it is to cancel your contract and the details surrounding responsibilities as the owner versus the property manager.

What is a full-service property management company?

A full-service property management company is an organization that provides a wide range of services to help landlords and investors manage their rental properties. These services range from tenant screening, rent collection, maintenance, and repair to legal and financial advice. A full-service property management company can help landlords maximize their rental income, minimize their expenses, ensure their properties are well-maintained and compliant with all local laws and regulations, and provide peace of mind when managing their properties.

What are half-service property management companies?

Half-service property management companies are a type of property management firm that provides limited services for a lower cost than a full-service property management company. These firms provide basic services such as collecting rent, coordinating repairs, and handling tenant communication but do not offer services such as tenant screening, legal advice, or marketing. Half-service property management companies are a great option for landlords who want to save money and are willing to handle some of the more complex tasks associated with being a landlord.

How do I become a short-term rental property manager?

Becoming a short-term rental property manager can be a rewarding and profitable career path. The first step is to become familiar with local laws and regulations surrounding short-term rentals. You’ll need to understand the zoning for short-term rentals and ensure you comply. You should also have a good understanding of marketing and customer service as you’ll need to effectively manage and promote your rental property. After you have the legal and marketing aspects figured out, you’ll want to start looking into rental software or property management services that can help you manage the reservations and bookings. Finally, you’ll want to create a website or listing platform to advertise your rental property and make it easy for potential guests to book. You can become a successful short-term rental property manager with the right knowledge, tools, and resources.