Anyone run their STR 100% remote? Pros, cons? Stories?

Question

Has anyone owned and self-managed their STR 100% remote?

What was your experience like?

What are the pros?

The cons?

Is it scalable?

Brooklyn McCarty · Answer

My husband and I manage from over 14 hours away. Certainly doable! In 3 years we’ve hosted over 500 stays. And done every single stay as self management

Pros: More money in our pocket. We take better care of our property than a management company would

Cons: Of course from time to time, things will happen. Water heater goes out, hot tub quits, guest is mad about XYZ. The timing is typically impeccable.

100% scalable.

Avery Carl has a book, Short Term Rental, Long Term Wealth. It’s your guide. Great, quick read for anyone getting starting looking to self manage.

Leslie Anne Morris · Answer

Totally doable. Once you hit 5 it takes over your life. I personally don’t think it’s scalable unless you plan to make it your full time job and hire a team.

Bryan S. · Answer

I travel quite a bit so not always around so wouldn’t consider myself fully remote as I do check in.

I have pools, hot tubs, multi bedroom, etc. the challenge is it’s more than just cleaning and big things breaking. It’s the small things that are challenging. Building a team is the toughest part

Mark S. · Answer

@Zackarias Aitchison It is very doable with one caveat - it can’t be 100% remote if you want it done right. You should always plan on visiting your properties at least twice a year to make sure the cleaners are doing a good job, maintenance is on top of things, the kitchen has remained fully stocked and anything that is damaged or missing is replaced, etc. No one but you can really be sure that all this is done. The exception would be if you really don’t care about any of that as long as money is coming in.

Nathan Gesner · Answer

Use the magnifying glass in the top-right to search for past posts or just scroll through the forum. You'll find this is discussed many times a week.

Francisco Ruiz · Answer

Yes, very doable.  We own/self manage 3 (1 TN and 2 VA) and we live in TX.  Key is to have a great team (cleaners/handyman) and have contractors info (electrician, plumber, appliance repair, etc..) handy for when the unexpected pops up.  We both still work full time W2's.  With wifi locks, wifi thermostat, wifi cameras and your team, you can easily do it.

Pros - as mentioned, you keep more profits for yourself, peace of mind that if/when a call comes through that your team will take care of it and you dont have to run out to your property

Cons - for sure being on site is much easier when you gotta pull in a contractor, but still manageable.  Have to pay for every litte minor repair vs being able to do a quick simple fix yoursef

Scalable - for sure, your team is doing the heavy lifting and day to day.  As you grow getting systems in place (property management software, dynamic pricing, digital guidebooks) and that frees up more of your time

January Johnson · Answer

Totally doable!  I managed my first STR in Florida from Texas.  I tell my buyers all they really need is a keypad lock on the door and a great housekeeper (I also have strategies for finding these vendors).  If you buy through The Short Term Shop in any of our (currently 14) markets, once you are through your inspection period, you can attend our free, LIVE, 3-hour class, Management Mondays, and Luke Carl will teach you all about software, finding housekeepers and handymen, etc.  You can also go back through the class as often as you want for a refresher if needed.

Michael Baum · Answer

Hey @Zackarias Aitchison, we also manage our place from 360 miles away. Zero issues once you have your systems in place. A great cleaner and handy person are very important. Maintenance of your hard systems is top as well. Get your stuff serviced and you will reduce emergency issues.

Like @Mark S. said, you should plan to visit once in a while. I am there more than I would like, but I am also going to WSU to get my kid from time to time and we are only 90 miles north of the university. Plus I love being on the lake, even in the winter.

As a matter of fact, I am heading to our lake house tomorrow. After drop off at WSU.

John Underwood · Answer

Lots of people on here self manage from afar. Read through the many past posts already on here for your reading pleasure.

Anyone run their STR 100% remote? Pros, cons? Stories?

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