HEADS UP! Vacation property managers often commit FRAUD against the property owners

[Lisa75]

Over and over i catch fraud.  i 've had 6 airbnbs for 10 years and use vacation properties a lot bc i'm semi retired. 

i'm now purposefully watching out for fraud and beg owners to please get co hosts so you can watch where YOUR money goes.

the moment a vpm takes your listings "under their umbrella" as they word it, they have full control over your money for no reason at all.  if you find a company who will let your listings remain on airbnb you have a little more comfort.

Examples of fraud have happened enough to shock me but i'll give just one sneaky example:

I went to a small coastal community and booked a place via VRBO.  i had to change dates - that's when a vpm has the opportunity to charge guest the same final price but scoot the money from the nightly rate to the administration fee - the poor owner was going to get $175 a night but after date changes, got only $80 a night!

i will always contact the assessor of whatever county i'm in so i can find owner and alert them.  then i always take screen shots of all  (easy) and contact the attorney general.  it really takes no time and is your responsibility when you catch fraud.

there are no true rules or certification for vpm folks and this is the only way to try to stop it.

first they want a "profit removing" 25% and then they have ability to really take you to the cleaners!

some will argue they aren't like that - then be sure to have them do the whole thing as a cohost and WATCH YOUR MONEY!

bottom line - regular rentals end up giving you more profit and more peace unless you can do vacation rentals yourself or with cohost set up.  i hope you guys hear me on this!

[Jenny]

Hi @Lisa75 

It's great that you're so vigilant and able to take some action if you see this happening to people.

Is there a way of verifying VPM in advance, or do you think it's best to try and manage the listings yourself?

Jenny

[Lisa75]

i've been doing airbnb for 10 years with my 6 small rentals and am getting tired of it.  they all just say 25% is the norm - for what?!?!  ** and now they do lazy smart pricing that is always waaaay off.  its a scam from the start.

think about it - your rentals could be empty for 3 months!!!  You'd make even less bc of their surprise charges!  i strongly feel they need to be reigned in - it should be 15-20% max and they should make it completely hands off so you don't pay for a flipping thing.  who hires them -** the lazy or ones so rich they don't care.

everyone i personally know just hammers it out ourselves.

i'm starting to sell off furniture in 3 of mine this spring and going back to regular rentals - it'll be only a loss of 25k to have a calm life instead of paying greedy vpm's 50k!

they really need to get their act together and so does legislation!

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