A good PM should be on top of this and not simply ride out the market shifts.Technology & Reporting: What tools do they use to monitor guest interactions, maintenance, and property performance?

We will see how it performs soon but very excited about how it turned out!

Sharing access through co-hosting is a common approach that allows the PM to perform their duties while you maintain control over the listing and its reviews.

@Daniel AlvarezI have using my spreadsheet to track performance for a few years now.

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!

Biggest clauses are: who's responsible for what, what are the penalties if someone doesn't perform their duties (including forcing them out) and what happens if one party wants out and the others don't.BTW: your brother should do this with his new girlfriend BEFORE paying part of her mortgage!

Author is Avery Carl with The Short Term Shop.  

We’ll consider additional upgrades, like a jacuzzi, once we see how well the property performs.

Sort by revenue and check out the listings of all the top performing properties and see what amenities they are providing.

Also, with the shift toward focusing on cash flow, are there any specific markets or types of properties you’re seeing that perform well, despite the challenges?