What do you look for in a STR Management company?

[Conrad Legé]

Hello all,

I‘ve been a host for a few years now and recently started my own STR management company. had a few questions for you other hosts:

1. What are your expectations when working with a co-host? Responsibilities?

2. Do they need to be local to your area?

3. What are your biggest headaches/challenges with hosting?

4. What do you consider a fair management fee?

5. What has been your experience so far working with a company?

6. What are your personal reasons for not working with a co-hosting company?

 Always looking to improve. Any insight appreciated. 

[January Johnson]

Quote from @Conrad Legé:

Quote from @John Underwood:

A Co-host is not a property manager. A Co-host is likely not licensed and insured.

If I were to get someone else to run things it would only be a legitimate local Property Manager. 

Let me clarify. I am not referring to a property manager, strictly one that manages short-term rentals, not necessarily the whole building. I believe a PM and STR have different management fees as the job is more hands on and involved. But sounds like you would like to work with a licensed PM and manage the whole building. Makes sense.

What would be a fair management fee? 

That's what we call people who manage STRs: Property Managers.  In my market, the fee is 18% - 25%.  And no one loves them.  It's also REALLY REALLY REALLY hard to cash flow if you are paying someone this much off the top.