Evolve Property Management- Is It Worth It?

[Margaret Hill]

Hello BP! I recently purchased a vacation property in Hilton Head Island, SC that is being rented as a short term rental (airbnb, VRBO, etc.) during the times my fiancé and I are not using it. We are using a property management company with a local office on HHI, but they take 25% of our monthly rent plus a few extra fees. At this rate, we are not making any money on the property especially since we purchased it in late August (start of the slow season). 

I have been researching switching to Evolve Property Management as I see they only take a 10% fee. Id like to hear from anyone that has used Evolve, and what your experience has been? My main concern is that I would have to find local housekeeping and maintenance folks and coordinate cleanings/fixes between checkouts or if the guests have any concerns while they are there. As I am located in Michigan, this is not ideal. Does Evolve handle the coordination of these things as well?

[Davartay Miller]

Margaret, 

Great post! I am not from the Hilton Head Island, SC area but hopefully I can shine some light here. First, I say call the property manager of your course and see the services they offer. It does not hurt to start there. You are not waisting your time. What you are accomplishing here is a comparison analysis. A comparative analysis in an easy way in which two things are compared and contrasted. 

So what should you look for in an individual, team, or company that intends to take care of your investment property day-to-day? These are the questions you should ask as you consider hiring a property manager or yourself. 

1. "How long have you been in business?" Not every company is ready to handle the highs and lows with you and not every owner wants to deal with them perhaps on their vacation. 

2. "How do you market your properties?" This you might be able to answer before you ever meet the potential hire. Think about how you discovered the management team or individual. Did they show up high in Google Ranking? Did they have a nice website? A strong social media platform? If they can't adequately advertise for themselves, what makes you think they'll be able to do the same for your properties? 

3. "What is your standard of success?" In other words, Do they care that you do well, and not just because it means they get paid? Your manager should want to do their job well and be dedicated to maintaining excellent standards. 

Details to focus on to save time, save worry, and save income: 

1. Marketing Management
   
2. Maintenance Management 
   
3. Move-out Management 
   
4. Communication Management 
   

Please note that you are more than capable of doing this yourself. What it boils down to is time and freedom. If you have time and want to do it yourself – go for it. However, I challenge you to weigh your options. 

Best of luck,