STR Property Manager Reporting and Accountability

Look for rental revenue, fees, refunds, taxes handled by the manager, property expenses, reserves and the amount paid to you. Request supporting detail for unusual charges and a way to tie totals to bookings. Consistent statements make it easier to monitor results and provide records to your bookkeeper.

First align the definitions and dates. Check whether each figure includes cleaning fees, taxes, refunds and platform costs, and whether it reflects stays or cash receipts. Then compare occupancy, rate and expenses separately. A single difference in gross revenue does not explain whether the problem comes from demand, pricing, fees or launch timing.

Agree which routine expenses can be approved without you, the dollar threshold requiring approval and who can act in an emergency. Clarify maintenance markups and documentation. Keep the limits in the management agreement or another written approval policy. The arrangement should allow timely guest support while preserving visibility over major spending.

Use a regular monthly review and more frequent communication during launch or material problems. Compare bookings, rates, guest feedback, expenses and upcoming maintenance with the agreed plan. Discuss decisions that need action before the next review. The goal is a repeatable process, not constant intervention in every guest message.

Ask which assumptions changed: availability, nightly rate, occupancy, opening date, amenities, competition or guest reviews. Request comparable market evidence and the proposed corrective steps. Also check expenses and owner use. A useful review identifies causes and dates for action rather than attributing every shortfall to the market.

Review contract termination terms and establish a plan for reservations, account access, photographs, vendor relationships, supplies and outstanding balances. Confirm who communicates with guests and how the property stays operational. Listing and booking continuity depend on account structure and platform rules, so resolve those details before announcing the change.