Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Short-Term & Vacation Rental Discussions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 7 months ago on . Most recent reply

User Stats

2
Posts
0
Votes
Courtney Middlebrook
  • Bangs, TX
0
Votes |
2
Posts

Best Practices for Managing Booking Payouts as a Short-Term Rental Co-Host in Texas

Courtney Middlebrook
  • Bangs, TX
Posted

Hi everyone,

I'm currently managing short-term rentals for myself and a family member in Texas.  I'm wanting to scale and add other clients to my portfolio.  However, I'm not a licensed real estate broker, which means I can't legally hold funds in the state.  I currently am using two different property management softwares, one for my properties, and one for my family member's properties and send a weekly invoice for my commission.  I know this is not ideal and I need to streamline into one PMS for future growth but am at a loss at what is available for different payout accounts to be associated with particular listings on OTAs.  Considering Airbnb has the co-hosting feature, they're really a non-issue.

I'm looking for advice on best practices for managing booking payouts in this scenario. Specifically:

  1. Is it possible to have multiple checking accounts linked for payouts on OTAs other than Airbnb if I were the listing holder on these platforms? How do you manage this across different clients?  Is there another method that ensures transparency and compliance with state regulations?
  2. What are some recommended platforms or tools that help streamline the payout process for multiple clients while keeping everything organized?
  3. What is the best property management system (PMS) for handling multiple owner accounts efficiently?

If these options are not a possibility, should I partner with a broker to comply with the state regulation? If so, do I form a JV or how would that work exactly?

I'd appreciate any insights or experiences you can share!

Thanks in advance for your help!

Most Popular Reply

User Stats

877
Posts
1,281
Votes
Ryan Moyer
  • Property Manager
  • Orlando Kissimmee, Davenport
1,281
Votes |
877
Posts
Ryan Moyer
  • Property Manager
  • Orlando Kissimmee, Davenport
Replied
Quote from @Sarah Kensinger:

If you're in TX, you shouldn't have to worry about connecting with a licensed real estate broker. Call the real estate commission and double check, but TX looks at STR like a hotel and does not hold it to the same standards as a LTR PM, which would need a real estate broker license.


 Same for Florida.

  • Ryan Moyer
business profile image
Cosmic Vacations
5.0 stars
12 Reviews

Loading replies...