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Updated 9 months ago on . Most recent reply

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Scott Watson
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7
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STR owner starting out with 1st rental

Scott Watson
Posted

Hey guys, I would love to hear your feedback on MUST HAVE PMS platforms for "newbie" STR investor. I would like to use a PMS to automate most important booking platforms, price labs, etc. my goal is to keep it as simple and low cost as possible.

I've read and researched so much on STR startup and mgmt at this point, but looking for some real world experience before we make a decision. Any books, guru's, podcasts, websites that you can recommend would be so appreciated.

I look forward to your responses.  Thanks in advance. 

Scott

Most Popular Reply

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Travis Timmons#3 Real Estate Deal Analysis & Advice Contributor
  • Rental Property Investor
  • Ellsworth, ME
1,966
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948
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Travis Timmons#3 Real Estate Deal Analysis & Advice Contributor
  • Rental Property Investor
  • Ellsworth, ME
Replied

I'd encourage you to just work through airbnb and vrbo to start as well. Most cleaners are not going to comply with your PMS platform protocol for cleaning and 98% of the functionality that you are going to use a PMS for will be messaging. It's just not that hard with 1 property to do messaging. 

Pricelabs is important, but right now, the most important thing is for you to spend time in Gulf Shores establishing trust and relationships with local vendors. You need a deep bench and the ability to ask for a favor every so often. If they feel like they know you, they are more likely to help you out of a jam and not kill you for it. You're just another rich guy from out of town until you get to know them and hopefully establish some sort of a friendship or good working relationship. 

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