Updated about 3 years ago on . Most recent reply
Fair Partnership Structure
I have a friend who inherited a vacation property that she wants to still use occasionally but what like to also use as a short term rental. It's been almost two years and I'd like to propose a partnership where I would write up a plan, organize, and manage things and she would obviously provide the property. I'm wondering what everyone thinks would be a a fair arrangement? I don't have any previous experience but have professional contacts I could use as resources as well as the drive to hustle a bit to get my foot in the door. Thoughts? Suggestions?
Most Popular Reply
So what I am essentially reading is you want to be the property manager?
If that is truly the case then charge what a property manager charges. For STR's that can be in the 30's or 40's. But to get equity in the property would be hard, especially because you don't already own it. If your friend is nice then it could work but no-one I know would give equity for just being a PM.