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Updated over 4 years ago,
STR Capital Short term rental in Columbus Ohio
I listed one of my Duplexes on Zillow as being for rent and available. Shortly after that, I was contacted by a representative from STR Capital, a property management company in Columbus, Ohio. She sent the following message:
"Hello! My name is Chloe, I work with STR Capital, have you considered listing your units as a short term/corporate rental? If you are free I would like to come see the property and tell you more about how our company can help fill vacancy and increase revenue."
I figured I would ask a bit more about what they have to offer, and she replied:
"I pulled your property on our pricing algorithm and it looks like it would make an annual revenue of $26,157 with an average daily rate of $154, and an occupancy rate of 47%. Our system does lean on the more conservative side when it comes to numbers, and we have the capability to adjust daily/monthly rates when it seems fit to do so"
Currently, the gross rent for one side of the property is about $18,000 per year. The idea that I could raise that to $26,000 seems absolutely amazing. Even if they charged 20% for their services, this is a huge leap in profit. Even if they charged 30%, it would be like getting property management services for free.
Am I missing something here? It seems to easy.