Help me jump to self managing.

[Jim Stutzman]

We own 3 vacation properties. 2 in the black hills and one in Broken Bow. I feel like we are not being represented well by any of the companies. We just bought the Broken Bow property 3 weeks ago and our summer is nearly full but they listed it at $225/night. This is a $900k property. The enemy method showed me $400/night minimum. Should I pull the property going into the busy season a try and rebook or should I wait until the slow season at the end of the year? I’ve been having to advise them on descriptions and photos and I’m kinda at my wits end. Please help maintain my sanity. 

[Collin Hays]

If your assumptions are correct and you can increase rent by that much and actually book the place, pull the plug immediately.  

But consider the possibility that your rent is marked down because demand is down. In March, I had a client complaining of the low rental rate for his property.  He wanted it to be really high for June and July, so we changed it to the amount he insisted on.

It has no nights booked thus far for those two months.  This is not summer 2021 or 2022.  

But if you truly know better than your property manager, I’d do both yourself and them a favor, and take it over asap.