Have a full time property manager for 2 STR. How do you pay and keep some motivation going? Percentage of sales or bonus based on occupancy? We do have seasonal slowdowns.
I don’t use a property manager, but they are normally paid a percentage. And if you are leaving it up to the property manager to vet guests and accept or decline bookings, rather than handling that part yourself, I would definitely not give a bonus based on occupancy, as they are then likely to accept any and all bookings.
Yep, all property management companies on Maui expect a percentage of the booking income.
I handle my brother’s place here on Maui and only charge him 10%, but other professional property management companies charge in the neighborhood of 25%.
I get a holiday bonus at Christmastime.
Just wondering about your name Sans Souci. You don’t happen to be Harsen’s Island in Michigan?
25% of what amount: turnover, profit?
Rent minus booking fees