Short Term Rental Riches 36. How Much Time Does it Really Take to Manage an STR?
Jul 21, 2020
Managing short-term rentals can seem daunting due to the time commitment involved. Discover how many hours are actually spent on management tasks, and learn which factors influence this time. Strategies for creating more passive income and efficient systems are explored. The importance of having the right team in place is highlighted, along with insights into the evolving landscape of short-term rentals. Tune in for actionable tips and realistic expectations for anyone looking to dive into this lucrative market!
AI Snips
Chapters
Transcript
Episode notes
Size and Guest Type Impact Time
- The size of the property and guest type dramatically impact management time for short-term rentals.
- Small urban studios with short-staying business guests require far less time than large luxury vacation homes.
Use Team & Setup Wisely
- Hiring a professional management company can reduce your personal management time to near zero.
- Proper property setup minimizes guest questions and issues, further cutting required management time.
Scaling Can Lower Management Time
- Scaling your rental portfolio doesn't necessarily increase management time if you build systems and teams effectively.
- Managing many rentals can be easier than just a few if proper procedures are in place.