How to Manage a Short Term Rental Without Hiring a Property Manager
Summary
This article from The Short Term Shop argues that self-managing your STR is often the smarter move, as it saves on management fees and offers tax advantages. It outlines tools and systems for successful self-management, emphasizing the importance of building a reliable local team and automating guest communication, and explains the advantages of being involved in the process yourself.
Key Insights
- •Traditional property managers charge 20–30% of gross rental income. On a property generating $100,000 annually, that’s $20,000–$30,000 out of your pocket.
- •The short term rental tax loophole allows you to use bonus depreciation to offset your W-2 income if you actively manage your property.
- •Once your systems are set up, most investors spend only a few hours per month checking in.
Action Items
- ✓Build a trusted local team of cleaners, handymen, and vendors.Effort: mediumImpact: high
- ✓Create a direct booking website and leverage social media to drive repeat guests.Effort: mediumImpact: medium
Tools & Resources
- →Channel Managers: Sync calendars and bookings across Airbnb, Vrbo, and direct booking sites to avoid double bookings.
- →STS Plus: Inside STS Plus , we give you templates, vendor recommendations, and a community of thousands of investors already running these exact systems.
- →Short term rental tax loophole guide: You can read more in our detailed guide on the short term rental tax loophole , or check out our video podcast episodes where we break down tax savings strategies with CPAs who specialize in short term rentals.
- →PriceLabs: Tools like PriceLabs or Wheelhouse adjust your nightly rates based on demand, competition, and seasonality.
Watch Out For
- ⚠The biggest risk is not building a reliable local team. Without good cleaners and handymen, your property can quickly suffer.
Related News
Financial firms face rising cyber risks, data challenges
This article discusses rising cyber risks and data challenges in the financial services industry, including fraud prevention using AI. While not directly about STRs, it highlights the importance of data quality, which directly impacts the effective use of AI for risk management and decision-making for STRs.
Booking.com Refunds Policy: Process and Ts & Cs Explained
This article from iGMS explains Booking.com's refund policies and cancellation options for hosts. It highlights the importance of choosing a cancellation policy that balances flexibility to attract bookings with financial considerations, and encourages hosts to experiment with different policies and rates to find the ideal balance.
Airbnb Account Hacked? Here’s What To Do
This article discusses the ways Airbnb accounts can be hacked, including phishing, credential stuffing, and brute-force attacks. It emphasizes the importance of strong, unique passwords, two-factor authentication, and regular account monitoring to protect your account. Hosts should change their passwords immediately if they suspect a breach and contact Airbnb support.
The long game: How Florida Realtors® created a sustainable real estate tech ecosystem
This article highlights the Florida Realtors' long-term commitment to providing technology solutions for real estate professionals. The organization's tools, such as Form Simplicity and Sabal Sign, are designed to support members' success and offer cost savings. Hosts can take note of the benefits of these member-driven tools and evaluate whether they're suitable for their own business operations.