All Forum Posts by: Cole Dobbs

Thank you John! I can see you have expertise on this subject! I am curious, how many rentals did you have before you turned to property management? Or do you have another method that you use and could recommend? Let me know!

-Cole

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Quote from @Mark Miles:

Quote from @Cole Dobbs:

Good morning! So I am new to Real Estate investing and am looking into starting a couple of my first short term rentals, and I have some questions about the value property managers bring to the table. I have been quoted at 20% of revenue to manage my new vacation rental, and I have seen other property managers that charge up to 40% while also charging for maintenance and upkeep. Many that I have seen are nationwide firms that allegedly increase occupancy, handle guest issues, and keep properties in shape. However, I have the time to manage guest relations and I have a good cleaning crew that I trust to take care of the cleaning and damage control and I have handymen and contractors readily available. It seems hard to wrap my head around paying this premium for a passive service, but I do not have any real world experiences to shape my opinion so I am keeping my options open, especially as I expand. My questions are: Is it worth 20%-40% of monthly revenue to hire a property manager? Are they really more effective in increasing STR performance? What are other STR owners biggest frustrations for those that are using property managers, and for those people that are self-managing? I would love to hear from the community and see what the general consensus is and if there are any other great points you think are relevant please let me know!

Thank y'all!

-Cole

You don’t need a property manager located in the local area of your properties - that’s the beauty of modern technology!!

It’s super easy. I use offshore assistants to manage everything, for pennies on the dollar. Works amazingly well & I rarely have to get involved. All without having to pay a hefty PM fee. My offshore assistants can:

- call someone to clear the road of snow leading up to your cabin

- call someone to remove a 50 year old tree that fell in your driveway last night and the guests can't depart.

- call someone to remove a snake from under the sofa

- call someone to remove the trash when it's piling up

- help guests find your cabin when it is 1am and they are completely lost

And much much more! You definitely don’t need to waste your money on local property management. This is a forum of highly skilled investors and very few people on here use a local property management firm, it’s just a waste of money.

Of course there are a few property managers on this forum, and they will of course tell you that you must have their services. They will tell you that they add tremendous value and that you could never operate without a local property manager. Up to you to decide.

Here’s a couple other links to other forum posts to help you out:

https://www.biggerpockets.com/forums/530-short-term-and-vaca...

https://www.biggerpockets.com/forums/530/topics/1039039-gett...

Thank you for the reply Mark! That is a great idea. I do have some questions about this model though. I understand that you have outsourced your call centers overseas but when you do need that hands on property care that you mentioned, how do you go about it? Did you partner with local animal control, waste removal, maintenance crews, etc?

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Quote from @Bryant Xavier:

Cole,

Great questions! As someone who has been managing short-term rentals for six years, I can tell you that whether a property manager is worth the 20%-40% fee depends on your goals, experience, and the systems you have in place.

Since you mentioned that you have the time to manage guest relations, a trusted cleaning crew, and reliable maintenance contacts, you already have a strong foundation for self-management. A good property manager should add value beyond just handling guests—they should optimize pricing, boost occupancy, streamline operations, and protect your asset.

Is it worth 20%-40% of revenue?

• At the lower end (20%), it might be worthwhile if they’re truly hands-off and maximizing revenue.

• At the higher end (30-40%), you’d expect a more full-service experience, including dynamic pricing, design recommendations, preventative maintenance, and potentially even guest acquisition beyond Airbnb/VRBO.

• If you have multiple properties or scale quickly, a PM can free up your time, but many investors opt to self-manage and automate instead.

Do property managers increase STR performance?

• A great PM can improve occupancy and revenue with smart pricing, SEO-optimized listings, and experience-driven strategies. However, nationwide firms can be hit-or-miss—some use generic pricing models and lack the local expertise that an engaged owner or boutique management company might bring.

• If you’re using tools like PriceLabs, Hospitable, or OwnerRez, you can handle a lot of these optimizations yourself without giving up a big revenue cut.

Biggest frustrations with property managers?

• Lack of transparency or control over pricing and expenses.

• Hidden fees or nickel-and-diming for basic maintenance.

• Poor communication or slow response times.

• A “one-size-fits-all” approach that doesn’t maximize a property’s unique potential.

Biggest frustrations with self-managing?

• Guest issues at inconvenient times (though with solid automation, this is manageable).

• Finding and keeping high-quality cleaners.

• Staying on top of dynamic pricing and marketing.

If you’re just starting out and have the time, I’d recommend self-managing at least your first couple of properties. You’ll gain valuable experience, keep more revenue, and learn firsthand what aspects of management you might eventually want to outsource.

Would love to hear what market you’re in—some locations benefit more from hands-on local expertise than others!

Thank you for the reply Bryant! You brought up a couple points that I would like to talk a little more about. I still have a hard time wrapping my mind around paying a recurring monthly revenue when a vast majority of the tasks are upfront services such as pricing, design, preventative maintenance checks, and more listing opportunities. Sure, these can be altered a few times a year, but in your opinion is it worth potentially thousands of dollars a month? I am in the North Houston market currently! I definitely think hands-on local expertise is the way to go regardless of your market. Let me know what you think Bryant!

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Thank y'all!

-Cole

2 Votes

Quote from @Morgan Tondre:

Hi Cole! I'm born and raised in Houston and now work with a full service long-term rental management managing over 300 doors - all SF or MU (up to 4 unit). I personally know both @Jaclyn Cano and @Wale Lawal and can confidently say both are great and VERY Investor friendly! BRRRR method is also a great way to go - good luck!

Thanks Morgan! I can tell they are both on top of their game. I would love to connect and see what we can work out!

1 Vote

That sounds great to me. Thank you Jaclyn!

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Hi everyone,

My name is Cole Dobbs, and I’m currently based in Houston, Texas. I’m an Air Force Veteran and am also pursuing my MBA at Rice University. Through my studies, I met my current employer, who owns a construction company where I serve as the Sales Director. In addition to my role there, we’ve partnered together to launch a real estate venture that we’re both really excited about.

We're at a bit of an impasse as we map out our first deals and could use some advice. Our interests include the BRRRR method, acquiring value-add multifamily properties, and even diving into full development projects. Our goal is to snowball our efforts and scale quickly over the next few years.

I’ve read a few books on real estate investing, and I’ve heard great things about BiggerPockets as a resource and community for learning and networking. I figured this would be the perfect place to connect with like-minded people, get advice, and explore more resources to guide our decisions.

If anyone has tips for tackling those first few deals, insights on balancing these strategies, or just wants to connect, I’d love to chat! Looking forward to learning from this awesome community.

Best,
Cole

4 Votes

All Forum Posts by: Cole Dobbs

Cole Dobbs has started 2 posts and replied 7 times.

Post: Short Term Rental Issues with Property Management and General Consensus

Post: Short Term Rental Issues with Property Management and General Consensus

Post: Short Term Rental Issues with Property Management and General Consensus

Post: Short Term Rental Issues with Property Management and General Consensus

Post: New Member Introduction

Post: New Member Introduction

Post: New Member Introduction