Short Term Rental Property Management

[jwright]

For those of you who have properties that are used as short term rentals (think VRBO); what kind of rates are you seeing for full service property managers?  This job is a lot more extensive than managing a long term rental as the PM is overseeing check-in and check-out and turning the property over for the next guest.  They could potentially be on the property three or four times a week.

In my current city, my office has two such properties and we our paying the manager 16%. 
We are investigating making a purchase in a new city, and have so far received two quotes of 20% for a lower level of service. 

Curious as to what others are seeing.

Thanks

[Ensign1999]

I think you are getting a deal with the one property at 16%.  I've heard as high as 25%, but I think 20% is about right.

[jwright]

Bump.  I just talked to someone in a third city who is getting 15%, but he has a high volume. 

Any other data points out there?

[K-ice]

I thought Hawaii was something like 30-35% plus cleaning fees.

I guess it could really vary with the level of service.

[DeanW5]

I read that vacation rental property management fees vary from 30% to 40% of the nightly rental rate. And it's for a full-service manager.

[Scandium]

I read that vacation rental property management fees vary from 30% to 40% of the nightly rental rate. And it's for a full-service manager.

That's what I read too, around 1/3 of rent to manager. One of the reasons this lost it's appeal quickly when I started running numbers.

[jwright]

That's suprising to me.  As I said we are currently running three units in my current city at 16% to the manager. 

In the past three months we have interviewed six managers in three cities and have seen 15 - 25% as the fee.  I certainly wouldn't do it for 30-40%.