Short term rental mgmt companies - having a bad experience with one.

[Anna Sam]

Short term rental mgmt companies - having a bad experience with one. Have signed up with a popular company Vacasa but seems like their fees charged to guests are a ripoff and I myself would not rent with those high costs. 

Have any of you run into these issues?  How criteria did you use to switch Property Management companies? kindly share

[Collin Hays]

The first problem is that Vacasa isn't a management company as much as it is a marketing company.  They've got lots of slick brochures and mail-outs, but very little on the delivery side.  

And as you pointed out, they advertise ultra-low management fees, but then sock the guests with big booking and administrative fees.  They have to lower your rents to make this happen.  I call it rent-shifting, and unfortunately, it goes on a lot.  It is really nothing more than a new twist on the old "bait and switch" game.

If you aren't in to self-managing, scout around for local management companies.  You want to get answers to these questions, in addition to what their management fee is:

1.  What internet channels do they market your property on?  (It should be a half dozen or more)

2.  What extra fees do they charge guests?  (should be very minimal)

3.  What extra fees do they charge homeowners?  (should be zero except for certain supplies)

4.  Do they mark up repairs and maintenance charges? (should be "no")

5.  How much repairs and maintenance are done by in-house staff, versus hiring out contractors that cost more money?  (should be "most repairs are handled in-house")

6.  Can you leave the company at any time if you are unhappy with their performance?  (should be "yes, you can leave at any time")  

7.  Do you have a list of homeowner clients that I can call to obtain references?  (should be "yes")

8.  Do you have the right to barter my home for up to two weeks a year for "marketing purposes"?   (should be "no") 

Hope this helps!