Any tips? Want to cover all expenses and some for repairs but don’t want to actively manage it like a host.
Price analysis of rentals?
Replies (1)
Edog
11 months ago
I own and manage STRs. If you put in some upfront work I would encourage you to self manage. In my experience and area if you pay a manager you are basically giving them the profits assuming you a mortgage. If you put in about 3 days of work you can generally put in almost all of the systems you need to be fairly hands off. I use Hospitable for all guest communication, automated messaging, check in, check out etc. And PriceLabs which helps or basically just prices all the properties I run day to day. If this a big part of your FI and its important to get that number self managing will really juice the cash on cash returns. As far as the repairs, easy your cleaner will notice them and if the don't your guests will. In the winter I do check on each property from time to time to ensure there is no water damage happening while things are slower.