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Updated almost 3 years ago,

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3
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Taylor Jones
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3
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Managing STR with 50/50 partners

Taylor Jones
Posted

Hey everyone,

I'm looking at investing in my first short term rental in a saturated market in the Pocono Region of PA. It would be a 50/50 partnership with equal credit/cash coming from both sides. We are considering doing a management rotation since by week since we both live relatively close. 

I want to get the decision making basics out of the way. The obvious problem with 50/50 partners is how do you resolve disagreements. Anything from pricing, renovations, repairs, etc... Also what is fair for personal use? Assuming we get 60-70% occupancy, if one party wants to use it  during downtime, or takes a chunk out of a prime date range, how could that be worked out? I've thought about a flat fee per stay which would otherwise be unbooked and a requirement that they clean or pay the cleaning fee. 

Any experiences or ideas on what to plan for would be greatly appreciated. 

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