Performance expectations and deal horizon can be adjusted and recommunicated.  

Depending on the property's location, it could perform very well as a co-living asset (3x of a traditional rental).

It comes from buying distressed assets and fixing them or re-arranging the property to make it perform again. 

Curious what you're basing your numbers off of- I'm guessing the 2023 numbers are going to be a far more accurate prediction of future performance.  

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

These top performing homes have an annual occupancy running a bit higher at 62% and ADR is higher for those, about 10 homes, at $580. 

Pay for performance.  1st one is always at full price, if you want to discount a bit on future deals is your decision depending perhaps on the volume and the amount of work required. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Go talk to the the current PM....ask them about property performance, asked about rent bumps on upgraded units, ask about the competition and go visit.