Property Management Fees Exposed: The Real Cost of Hiring A Manager

Short Term Rental RichesJun 23, 202313m 31s254 viewsScore 75
Pricing & Profitability
intermediate
property management fees
STR costs
booking fees
cleaning fees
management contracts
M

Summary

AI-generated

This video breaks down the common fees associated with short-term rental property management, including base management fees, cleaning fees, booking fees, and more. Hosts will learn to identify and understand these charges to make informed decisions when hiring a property manager.

Key insights

  • Some property managers charge a booking or reservation fee on top of their management fee, which can range from 14% to 18%, similar to fees charged by OTAs like Airbnb or VRBO.

Mistakes to avoid

  • Failing to add up all potential fees charged by a property manager (management fee + booking fee + other charges) can lead to underestimating the true cost of their services.

Tools & resources

  • STR Management Handbook, Airbnb House Rules Template, STR Property Acquisition Guideresource

    The video mentions free guides and templates for STR management, Airbnb house rules, and acquiring properties for STR returns.

Frequently Asked Questions

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial