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Full-scale STR management
I run an STR management company in the Great Portland (Maine) area. I am curious to hear what property owners pay or would expect to pay for full service STR management in this area.
I know many operators in Maine. Their going rate is 20-25% per booking, plus a tech fee of around $125 a month.
Quote from @Sarah Kensinger:
I know many operators in Maine. Their going rate is 20-25% per booking, plus a tech fee of around $125 a month.
Thanks @Sarah Kensinger. I am right in that range as well. Have had some conversations with prospective clients over the last year and they were somewhat shocked by that percentage. Good to know that that seems to be the norm.
Hey!
I am in Seattle a d I am in that same range with all the technology we use for each property.
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- Greer, SC
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#1 Short-Term & Vacation Rental Discussions Contributor
- Investor
- Greer, SC
We are in Pigeon Forge and pay 20% no add on for tech.
Good to know John!
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#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
Nada. Self management for the win! :)
It does sound right in line with other PMs across the USA.
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#1 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
Tampa the going rate is 15-25%. Beware the low ballers - you get what you pay for and hidden fees!
I've seen anywhere between 15-25% in the PDX market.
Quote from @Gabe Capoferri:Yes, unfortunately people are always looking for a bargain, which isn't always bad except in many cases you get what you pay for. Zero in on a potential client's pain points, that can really help to work through the shockers over price.
Quote from @Sarah Kensinger:
I know many operators in Maine. Their going rate is 20-25% per booking, plus a tech fee of around $125 a month.
Thanks @Sarah Kensinger. I am right in that range as well. Have had some conversations with prospective clients over the last year and they were somewhat shocked by that percentage. Good to know that that seems to be the norm.
Quote from @Michael Baum:
Nada. Self management for the win! :)
It does sound right in line with other PMs across the USA.
Sounds amazing Michael. I hope to be there someday!
Zero Dollars. Self management all the way. With the right resources to get started and the right systems in place - there is no need for a PM. Save those fees and put them back in your pocket and into your properties. Bigger Pockets has a ton of resources to help people get started with self management, from boot camps to books and everything in between.
Quote from @Brooklyn McCarty:
Zero Dollars. Self management all the way. With the right resources to get started and the right systems in place - there is no need for a PM. Save those fees and put them back in your pocket and into your properties. Bigger Pockets has a ton of resources to help people get started with self management, from boot camps to books and everything in between.
Yes, I agree, but my question is pertaining to rates that PM's charge. I manage STR's for owners and am doing some research to see if my prices are in the right range.
As to your point, yes, if you have the time to manage your own property it is definitely the best case scenario.
