All Forum Posts by: Jim Stutzman

Start by reading Short Term Rental, Long Term Wealth. Literally everything you need to know is located in that book. 

Why do you want to take over management? Are you prepared to do so? Just know these properties will go from an investment to a job. 

 I agree ive always heard more heads in beds, but I think with broken bow its a more of a romanic weekend stay and ive talked with a couple people invested there already that there 1/1 are doing better occupancy thank the bigger homes.and I think my budget can handle the 1/1 better there also broken bow is pricy but worth it if you can you swing it I believe.

So got an update on this - after inquiring more into it and speaking with PM over the phone - the PM sent me the following email ;) 

"Please take this email as my notice to terminate my property management agreement with you. I am giving you my 90-day notice as required per my management agreement. It appears that there is no trust from your side in our ability to manage your home which is reason enough for me to not continue this working relationship."

I followed up with an email asking how me asking why and how we spent $3k in extra fees is "no trust from my side". This is on top of another invoice they sent us in January for $500 for a washing machine leakage that they said they made a mistake and voided it. 

But in any case I guess it's for the best. Who do you recommend for short term PM in Cape Coral / Fort Myers / area? 

Thanks all for your answers - yes I am investigating. I am frustred with lack of communication and random expenses that are in thousands of dollars even though we are only with them for a few months. I did request to authorize any extras by me and not proceed without my OK. What are your thoughts - does your PM do similar things? Like I feel the markups a bit insane. And these are on top of their monthly fees + 20% commission off each booking (like they got all their bookings off Airbnb) 

Example are and all of these are just in a few months! 

$1k in purchasing a few paintings (to make it more appealing) and hanging them , as well as assembling a table outside ;

$600 power wash the house ; 

$100 to throw away garbage ;

$400 investigating A/C and breaker ; 

$300 checking sprikler system; 

$50 freshup fee they charge us ;) - on top of $300 FEES they charge the tenant to clean 

etc...