Reasonable Property Management Fee for MTR

[Clay Boothe]

I'm under contract to purchase my first investment property. It is currently a STR on AirBNB, but I'm planning on switching to a MTR due to proximity to multiple hospitals. I'm debating self-management vs keeping the current property management. The current property management team charges 18% for MTRs. I haven't been able to find much info on competitors rates for MTRs. Does anyone know what the norm is for MTR property management?

[Sean Monahan]

It's going to depend market to market and confirm that the property management team has the systems in place to care for your traveling professionals.  Also pay attention to additional fees they may incorporate.  18% is a bit high.  We run lean team in Baltimore and charge 12%.