As you may or may not know, our slogan is More Money. Less Work. And while it's easy to understand how a property manager accomplishes the "work less", the "more money" is a little harder to prove out. You may ask yourself...
- What if I managed my home myself? - Would I make the same amount of money? - How much more so I earn with a property manager?
Good news - we can finally answer some of these questions for you in a more objective and tangible way! The below image is data from our good friends at PriceLabs who source data directly from Airbnb/VRBO to perform data analysis, and in this case, they looked at the average revenues of self-managed homes vs professionally-managed homes.
So what does this mean? This means that homeowner, on average, make ~38% More Revenue when they enlist the help of a professional instead of managing their home themselves. While this data is unspecific to the Poconos and PRM, there is no reason to believe that the same logic wouldn't hold up to be true (or even suggest that we make our homeowners more than 38%, since we are exceptional!).
One of the biggest hold-ups we see when homeowners are deciding to use a property management company is the management fee. The question is often "do I want to give up 25% to have someone else manage my home?". This is incorrect and the biggest misconception out there! We help you make more because we have the 4 T's (Time, Tools, Technology, and Team) to maximize your earning potential!
So, in this instance, you may be "paying" a 25% management fee but you're also "earning" 38% more. To give you a specific example, would you rather...
- Do all the work and earn 100% of $50,000 ($50,000 net) - Do none of the work and earn 75% of $69,000 ($51,750 net)
And keep in mind, we only make money when you make money, so we're completely incentivized to work hard and make sure we're earning you as much money as possible. We think the choice is an obvious one 😎