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Updated 11 months ago,
Looking for some stats and expectations on a new STR cabin in the Smokies
Hey y'all. I'm a first time investor with a new construction cabin in the Sevierville area. My family is all local to the area but since I moved out of state I knew I'd want a property manager starting out. I signed up with one of the bigger companies managing rentals in the area and my property went on the market late December. Would anyone be willing to share what's typical in this market regarding the following items?
- Management fee percentage and what that typically includes (my company seems to charge a cleaning fee separate from their management fee, which I hadn't realized)
- Additional monthly expenses (my company charged $200+ for a fire extinguisher inspection?) and should I expect some communication about these? I just saw charges adding to my monthly statement and never knew the work was being done.
- I understand that some platforms (airbnb, vrbo) might have varying rates, but how much transparency should I get re: what renters are paying? I see my property listed at higher rates on some platforms.
-Occupancy rates. I feel like my occupancy rates are pretty good for just starting out, but what kind of occupancy is normal during the first few months of this year? What kind of occupancy rates are typical in the summer?
Cabin is about 30 min outside Sevierville, if that helps. 2br, 2ba + loft, great views.
Any insight is much appreciated. I felt like I had a decent January but then added charges from my rental company ate up all the income, so I guess I'm trying to do my due diligence now. Thanks.