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Many ski towns have their own short term rental management companies who put your place in a pool and market it, rent it, clean it.
10-30% is my understanding. There are local companies operating in these towns. But str platforms like evolve have entered the scene too. I looked into evolve and I found it enticing. But ultimately I didn't want people sleeping in my bed or having to hide my favorite glass.
Subject Expert
What city / market are you looking in? Utah vs Colorado vs Lake Tahoe vs smaller regional ski towns are all very different in how they operate…
Subject Expert
I don’t have knowledge on Park City, but I know ski in / ski out condos are highly desirable, so there might not be much room for profit on a short term basis. Also, many of the best condo buildings are ran by hotel corporations and either aren’t purchasable by private parties, or require you to use their rental services at exorbitant fees.
Some things to check:
- check what the latest short term rental permitting / requirements are in the city and county that you’re exploring
- if you’re buying a condo or in an HOA, check for rental restrictions and/or management requirements in the CC&R’s
- see if you can connect with local short term owners in a Facebook group and gauge the general sentiment of short term rentals in that market (have there been local discussions at city council meetings about increasing regulation?)
- if you’ll be managing your property from afar, look for a local property manager who actually cares about your property. The big national companies (evolve, vacasa, etc.) won’t put the level of care into your property that a local property manager will. They will just be looking to turn and burn.