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Updated almost 3 years ago on . Most recent reply

User Stats

31
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13
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Miles Fabishak
13
Votes |
31
Posts

Most Popular Reply

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285
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317
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Jimmy Woodard
  • Walnut Creek, CA
317
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285
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Jimmy Woodard
  • Walnut Creek, CA
Replied

@Miles Fabishak save your money and self-manage if possible. You can do everything a property manager can do and it'll only take 1-2 hrs/week at most to keep up with the property. If you decide to self-manage vs. paying a PM 15-40% of your gross revenue, below are important points to know about self managing:

  • Research local regulations to figure out what you need to do to have a legal STR
  • Research properties near yours on Rabbu or Airbnb to figure out what amenities sell and what you can add to stand out
  • Hire a professional photographer
  • Implement a pricing tool like Wheelhouse, Pricelabs, or Beyond Pricing. You’re leaving money on the table if you try to do pricing on your own
  • Find a solid cleaner and handyman (this may take a couple tries) as they are the lifeblood of your business and will help you with any last-minute requests that you can’t do being far away
  • Use a Property Management System (PMS) tool like Guesty or OwnerRez to automate messages and run your business more efficiently

Good luck and DM me if you have any further questions!

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