All Forum Posts by: Andrew Robinson

I am currently looking to start a Property Management Company and I'm wondering if there is a Property Management software that will handle both STR and LTR property? Originally, I was looking to do only LTR (I have 24 units) and have now decided to join forces with two incredible women who are looking to start at STR property management business in our vacation tourism hotspot of a town. Originally, I was looking at Buildium for my needs but am now looking for a program that could handle both. Any suggestions would be greatly appreciated.

+1 - I am currently in Knoxville and invested in SFH here, but will be moving away eventually. Would love some good and affordable PM contacts as well.

@Katelin Eberhard I had one and they were bad.  I can minimize vacancy better than they did. The cost was relatively high compared to what they did.  They upcharged repairs quite a bit and did not use preferred vendors.

We will be a greater distance from our rentals and our local backup has left so we are deciding between a PM and a handyman type person at present. 

@Nathan Gesner.  Do you have any good connections in the Knoxville area? :-)

Greetings, I am a landlord with multiple LTRs in Clarskville,TN all of them New/Newer constructions (SFHs, Townhomes and a few Condos.) I am seeking an Arbitrage Host that would like take over a few of them. I see many youtube clips where landlords needs to convinced, but I am all in and ready to move forward.

If you are an established host, please feel free to send me a message and we can discuss further. 

Thanks!

Good Morning Kevin,

You have probably already completed your purchase on the island - here is a belated congratulations and welcome!

Regarding rental companies & specific numbers, as you probably know at this point, it completely comes down to the property, area, and company that you are using. Some rental companies on the island charge as high as 25% of the gross revenue on a property, and then there are many more that sit within the 10%-20% range. 

The reason for such this large span - is the personalized level of service. The companies that charge 10%-15% are large companies such as Vacasa or Evolve, that manage properties all across the country. 

You will see many local companies charge around 20% due to them having their main and only place of business being the island. Smaller companies with more of a personal touch. 

It really comes down to how you want to manage the property and what makes the most sense for you regarding the numbers and the partnership with a Property Manager. There is no "right" or "wrong" way to go about it, just the way that works the best for you. 

I was in the rental industry for 5+ years here before making the transition to Real Estate. Hope your investment has continued to satisfy your needs in a property, and if you ever just want to chat with another local, I am always a message away. 

Sincerely,

Ryan Bunting

Hilton Head Properties

@Andrew Robinson, the next event will be will be Tuesday, July 25th at 7 pm at Porter Brew & Que. 5486 CChamblee Dunwoody Road, Dunwoody GA 30338. Atlanta Real Estate Investing Meetup. 

Awesome, thanks for the detailed explanation @Andrew Robinson. 

Is a 2 bedroom townhome in Spring Valley in the right location for this strategy?