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Property Management Mastermind Show

#59 Matt Hoffman from RealPage on Short Term Rental Management

Jan 09, 2019 by Brad Larsen

Matt Hoffman, who works with RealPage and is the head of short-term rentals for Kigo, joins me to talk about the short-term rental market works. What’s interesting about Kigo, Matt points out, is that they can leverage and benefit from all of their knowledge and expertise in long-term rentals as they build technology to advance the short-term rental side.

I love offering listeners fantastic benefits, such as some great discounts for products, with new offers coming all the time! You can see a complete list atpropertymanagementmastermind.com. For all of these offers, use the discount code “Brad” to secure your discount.

The short-term rental market and the long-term rental market are in conflict, so Matt’s position in spanning both offers him an interesting perspective. He’ll elaborate on this, and explain that the typical short-term rental owner is someone who vacations regularly or doesn’t live in the home full-time, and wants to rent out their home while they’re not present. His software, he explains, is geared toward both DIY landlords and short-term management companies.

Matt will also dig into whether you can run short-term rentals as a brand, or whether you need an individual person to do it, and explore the sweet spot for number of nights rented in short-term rentals. Importantly, he’ll also share his thoughts on the question at the top of all of our minds: what if short-term tenants do damage?

Other topics we’ll cover include reviews (which go both ways), check-in best practices and automation, how insurance might work for short-term fully furnished single-family rentals, the increasing number of regulations governing short-term rentals, and more! Matt also shares some powerful words in his final takeaway for listeners who are considering entering the world of short-term rentals.

Show Notes

[01:39] - Brad introduces today’s guest, Matt Hoffman, and explains that the episode will be all about how the short-term rental market works.

[03:21] - Matt gives an intro to who he is, what he does, and some background on what he’s been doing with short-term rentals.

[05:16] - We hear Matt’s thoughts on the differences between short-term and long-term single-family rentals, as well as the impact of the local market.

[07:27] - Who typically owns a short-term rental?

[09:03] - Matt talks about who is software is geared toward, and shares some things that he would tell a single-family-home property owner or manager to encourage them to go down this road.

[13:32] - Brad takes a moment to go over some math that illustrates the potential profit and costs in short-term rentals.

[15:31] - Does it work to assign a portfolio manager to run the short-term rental department?

[18:45] - We learn about whether it’s better to be a superhost on short-term rental sites, and how that works when you’re a brand rather than an individual.

[21:20] - Matt talks about how Kigo is different from other property management softwares.

[26:21] - What do you do when the short-term tenants leave a lot of damage when they depart the property?

[30:18] - Matt shares his thoughts on the mindset shift in terms of price, getting good reviews, and so on.

[32:50] - Brad points out that reviews work both ways.

[37:45] - Does Matt’s software integrate into all the well-known short-term booking sites?

[40:20] - Matt talks about insurance issues for a short-term rental unit that’s fully furnished.

[43:12] - We hear more about legislation and the increasing regulations governing short-term rentals.

[48:15] - Matt offers one takeaway for listeners considering the world of short-term rentals.

[50:56] - Which market really wows Matt?

[52:14] - Matt talks about where listeners can find him and Kigo.

Links and Resources:

Property Management Mastermind

Property Management Mastermind Group on Facebook


(619) 988-6708 (Allison DiSarro from Seacoast Commerce Bank)

Seacoast Commerce Bank


Grace Property Management

Matthew Hoffman on LinkedIn




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About The Host

The Host of this Podcast is Brad Larsen from San Antonio, Texas. Brad is the founder and owner of RentWerx, one of the fastest growing residential Property Management companies in Texas that currently manages over 700 single family homes.