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Property Management Economics - Wil Slickers on Commissions and the Tech Stack
Description
Myka and Steve interview Will Slickers, co-founder of Recreation Rentals and host of Slick Talk, who runs a property management company in Washington State targeting 20 properties before buying. Will explains why he avoids arbitrage in favor of management - less risk, less capital - and uses a sliding commission scale: 25-30% for properties earning under $40k/year, 20-25% for $75-80k, and a flat 20% above $80k, all taken from gross revenue before expenses. He walks through his complete tech stack - Hostfully for PMS and direct bookings at $79/month for 10-15 properties, Operto for smart lock automation, Safely for damage protection that guests pay $20 per stay for, VR Scheduler at $3 per property for cleaning coordination, and Wheelhouse for pricing.
Will shares how he monetizes his hospitality podcast through monthly brand ambassador contracts rather than per-episode sponsorships, and discusses building direct bookings through branded digital guidebooks with 10% repeat guest discount codes. He creates upsell revenue with local partnerships - a sip-and-stay package with a tap restaurant, in-room massage services, and coffee roaster morning tours. His military background taught him the attention to detail and discipline that now drives his systems-focused approach to professional vacation rental management in the Pacific Northwest market an hour north of Seattle.
Work with us. Interested in professional management or consulting?
Myka — Sharebnb: www.sharebnb.com
Steve — Argest Rentals: www.ArgestRentals.com
Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts
Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage
All our links: linktr.ee/liveletthrive
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