By Christopher Burley · Originally published
At Altitude Property Management, long-term rental management is 10% of rent collected. For furnished rentals under six months, our usual rate is 12.5%. Vacation-rental management starts at 20%. Commercial quotes use 10% as a starting point, with lower rates possible for larger buildings, multiple units, and larger leases. Each rate reflects a different kind of management work.
Long-term rentals: look beyond the monthly percentage
Our long-term management fee is 10% of rent collected. On a home renting for $4,000 a month, that is $400 in management fees.
A month of vacancy at that rent means $4,000 in lost income. That is why we put so much weight on tenant placement, renewals, and keeping repairs moving. The management fee matters, but the decisions made between one tenancy and the next can have a much larger effect on your year.
When you compare proposals, look at the leasing and renewal fees alongside the monthly rate. Finding and screening a new tenant involves real work, and a separate leasing fee can be reasonable. You should know what it covers and when it is charged. A renewal fee deserves the same explanation: what work is being done to retain the tenant and review the rent?
We think a good long-term manager should help you make those decisions with current rental comparisons and a clear understanding of the property’s condition. Asking rents are useful context; completed leases are stronger evidence of what tenants have actually agreed to pay.
Furnished rentals under six months: usually 12.5%
If your property is furnished and rented for less than six months, our usual management rate is 12.5%. These mid-term rentals sit between a long-term tenancy and a vacation rental with frequent guest changes.
You have fewer arrivals and departures than a nightly rental, but furnishings, move-in condition, cleaning between tenancies, and the next booking still need attention. We think the fee should reflect that middle ground.
The calendar matters here. Before accepting a three-month booking, look at which dates it takes off the market and when you want the home back for your own use. A higher monthly rent can lose its appeal if it leaves a long gap before the next tenancy. Compare the income over the months you intend to rent, including the gaps.
Vacation rentals: more frequent work, starting at 20%
A vacation rental needs attention every time a guest arrives or leaves. The calendar needs pricing, guests need answers, cleaners need access, and a maintenance problem can affect the next arrival. That recurring workload is why short-term management carries a higher fee than a long-term tenancy.
Our short-term management starts at 20% of all rents collected, including cleaning and pet fees. Your proposal sets out the rate for your property and the services covered.
If you are paying 30% or more through an Aspen or Snowmass condo rental program, we think that fee deserves a close look. A higher commission should buy something you value: additional services, stronger rental performance, or more support for you and your guests. The property’s address alone is a weak reason to pay a higher percentage.
A front desk, shuttle, or hotel-style housekeeping may be worth paying for if you and your guests use those services. Find out which are included in the commission and which are paid through other charges or association dues. Then decide whether that arrangement fits the way you use your condo.
| Management rate | Annual management fee |
|---|---|
| 20% | $20,000 |
| 30% | $30,000 |
| 35% | $35,000 |
The difference between 20% and 30% is $10,000 in this example. At 35%, it is $15,000. These are fee comparisons before other property expenses. When comparing actual proposals, check whether cleaning and pet fees are included in both calculations.
A more expensive manager may still produce a better result. Ask for evidence: comparable properties, a realistic annual revenue estimate, and an explanation of the additional services. That gives you a way to judge whether the extra commission is money well spent.
A seasonal market needs a full-year plan
Aspen’s winter ski season and summer travel season bring different rental opportunities, with quieter periods between them. A strong holiday week tells you very little about how the rest of your calendar will perform.
For your vacation rental, ask how the manager adjusts rates, minimum stays, and booking strategy as demand changes. Keeping a high nightly rate on an empty calendar does not pay the bills. Neither does filling every night at a rate that leaves too little after turnovers and other costs.
We think revenue projections should show the quieter months as clearly as the busy ones. Look for relevant booking history and comparable properties with similar locations, bedrooms, amenities, and availability. Your own stays belong in that forecast too: reserving holiday weeks for family changes what is available to rent.
This is also why we favor a percentage-based management fee. It keeps our compensation tied to rental income through the busy and quieter months. The focus should be on a productive year for your property, including what remains after management, cleaning, maintenance, and other costs.
Commercial properties: the building and lease size matter
Our commercial quotes use 10% as a starting point. The type of unit, size of the lease, number of tenants, and work required can change that rate. Larger buildings and multiple units may qualify for a lower percentage.
It makes little sense to price every commercial assignment as though it were the same job. A single unit and a multi-tenant building have different billing, maintenance, and reporting needs. A larger lease can also generate more fee income without increasing every management task in proportion.
That is where a lower percentage can make sense. We look at the property and responsibilities together. For your comparison, make sure the proposal addresses tenant billing, shared expenses, vendor supervision, and the reporting you need to understand the building’s performance.
Extra fees should have a clear reason
We are comfortable with a fee that pays for identifiable work. We are skeptical of a low advertised rate followed by a long list of charges for the routine management you thought you were buying.
Maintenance coordination is a good example. Arranging a major repair, collecting bids, and supervising a project takes time. A charge for that work can be reasonable. You should know the charge before approving the job and be able to distinguish it from the contractor’s invoice.
The same principle applies to setup, inspections, and administrative fees. Ask what the fee pays for, whether the work is already included in the monthly service, and whether the charge recurs. An unexplained administrative line on an owner statement is a poor substitute for a clear proposal.
Own several properties? Have the portfolio priced together
If you own multiple rentals, ask about portfolio pricing. Nearby properties, similar service requirements, and a single building with several units can create opportunities to organize the work more efficiently.
For commercial owners, that may support a rate below the 10% starting benchmark. For residential and vacation-rental portfolios, potential discounts depend on the properties and the work involved. Several homes spread across the valley present a different assignment from several units under one roof.
Bring the full portfolio into the conversation: locations, rental types, lease amounts, owner-use plans, and any significant maintenance needs. The proposal should show what you will pay for each property and for the portfolio as a whole.