STR Property Partners - Property Management Group

[Alec Nault]

Hi,

I was recently contact by STR Property Partners or per their website S.T.R Properties Inc. in regards to managing my rental property. I currently have my property listed up for long term rent but they want to manage it as a short-term rental. They claim they guarantee I will be paid what I am asking for in long-term rent regardless of how my property would do as a short-term rental under their management. Then any revenue above what I am asking for monthly rent they will pay me 70% of that revenue while they pay themselves 30%.

Has anyone had any experience with doing business with this property management group? Here is their website below.

https://str-properties.site123.me

[Sarah Kensinger]

Quote from @Sue Wiseman:

Did either of you, or anyone else sign up with them? 

I have just received the same call

This a legitimate business model for a STR company, but the website raised a lot of red flags and I would not feel comfortable doing business with them. We run a STR co-hosting company, and I also call up LTR listings if the property has been on the market for a while. But we are backed up by a large group of successful people who have done this for years, as well as an advisor that has been wonderful! From the looks of this website, they probably don't have an advisor helping them build systems, processes, etc. pretty much the whole business. If you would like to see the difference in websites, you can check out ours...the link is in my bio....it's a vast difference!

Something that confuses a lot of people is they think these calls from companies are a form a rental arbitrage. That couldn't be further from the truth! There is no lease in anyway shape or form! You would become an owner of a STR instead of an LTR. Pretty much instead of you looking for someone to run your STR, it's a company looking for you because your property is in a vacation area, or they realize it has great potential as a STR. But they should have exact numbers not just "I'll guarantee you get paid what you're asking for LTR". The payment method in the original post of this thread sounds like a half scam!

I wouldn't trust it in the least and this is even what we do! I would definitely check your options and get referrals if you're interested!