All Forum Posts by: Andrew Steffens

Hey Todd I own a STR PM Company based in Tampa with about 60 units currently and growing quick. Feel free to connect and shoot me a message with any questions

I manage about 60 units in FL

Our fee ranges on 20-30% depending on the size/income projection of the property.  I highly recommend % based fee.  We have a $999 onboarding fee but frequently waive it.

Hope that helps!

I think it will depend on your market - we are Gulf Coast FL and the difference for a 3/2 renovated pool home in low season is $200 a night and Holidays/March (High Season) could be $1,200 a night.  The range will vary anywhere and everywhere between $200 and $1200.  That is a beach 1 mile from the beach, but in urban Tampa for a small 3/2 it may only range $100 a night in variance.  So, yes it is significant and it depends on your market.  I hope that helps

 You're welcome! Like I said (at least it used to be) very easy to get at minimal or no cost.  With that in mind it makes it easy to be better safe than sorry!

 Personally, it would be a toss up for me.  If you can afford to and prefer to rip it off like a bandaid and cancel them and get it done that is certainly one way to go.  If you prefer the income the 4.7 is pretty decent and then do the repairs following last check out and block out the calendar otherwise you will continue to get bookings and may never get to it until reviews do tumble.

Hi Ashley! We are in FL but many of our clients are in CA so it is very doable (we are a property management company).  What makes you want to invest in New Orleans specifically? I feel as thought if you are in CA and are willing to go that far you should go wherever the best return is?

Can you honor the existing bookings and then block future dates out? Does the property currently have great reviews?

Hey Monica!

I am a medium sized PM in Tampa Bay area, and actually most of our clients are out of state (quite a few from SF area too).  I would make sure you have a Realtor or PM who is well versed in the area, and make sure you have a plan for furnishing and any renovations that the property may need, and make sure your expectations are realistic for all things; everything from the purchase, renovations (if any), furnishing, listing, and all things the PM does or does not do.  I hope that helps! If you are interested in the Florida market let me know and I can give you more specific advice

Hi!

I recommend Samsung, any Samsung.  They usually have closeout deals like this:

https://www.samsung.com/us/hom...

Whatever you get do not go cheap! Cheap ones will break down on you from the constant use.

Hello from Tampa Bay area -

We had the same question based on that verbiage. We went with the DBPR Division of hotels and restaurants license to be safe, as we had originally intended to have our company become a licensed RE brokerage (I hold a broker license) but realized we did not have to. It was very cheap and very easy, and could keep you out of crosshairs as STR/MTR are constantly under scrutiny. I know this is not a concise answer but I hope it helps. If further in doubt I would call DBPR/Div of hotels and restaurants and seek guidance from them, although they will likely tell you that you should.