Upcoming Airbnb in Condado, PR! Advice, management company info?

[Stephen1747]

Hi! I’m about to close on a studio property with beach access in Condado (or more aptly, between Condado and Ocean Park).

I had a couple of questions and I suppose would welcome any general advice for somebody who is hosting a property from the mainland. 

A) What are the recommended management companies on the island? I’ve allocated ~20% to this service to hopefully take over a majority of the granular work that would be impossible for me to do from home. 

B) Does anyone have any anecdotal experience on actually working with a beachfront studio property in San Juan? Did it prove profitable? I’ve done the research and used the online tools, which were promising. Additionally, the realtors of course stressed the investment capabilities of these locations. However, I’m obviously less hesitant to trust them. Wasn’t sure if anyone had any input from their own experience with ROI and such. 

[Helen3 · Accepted solution]

A) ask on your local host group but management companies  can charge more than 20% for management companies but you might find a local superhost who offers cohosting services who may do it for a lower rate

B) the way to find out how profitable you may be is to do a profit and loss account with all your set up and ongoing costs . The estimate your likely income based on your day rate and how many days a year you're likely to let the property for. This will give you likely profit levels. 

[Brian408]

Hey Stephen, shoot me a message if you'd like to discuss management!

[Alex1485]

Hi @Stephen1747 , not related to your question…but please make sure you check the crime stats for the condo/   area, before you close.  Rookie error our business partner neglected to check.