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May 3, 2021Liked by Stephen Elliott

Friends that have these seem to like them, but they seem like a lot of work to me.

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They are a lot of work.

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Now I'm wondering what Cicero wrote that was the closest thing to that quote. If you are wondering about something and don't make even the slightest effort to look it up, does it really count as curiosity? I did do a web search and found nothing much.

I think this might be part of what makes TV or social media attractive. It's an indulgence of not-really curiosity. It doesn't seem like it's a proper substitute for an urgent desire to know things, which would be a symptom of really being alive, or at least desperate.

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Ah, I'm sorry. It was a joke. Cicero didn't say that. I often start with a made up quote attributed to someone who didn't say it.

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I figured it was a joke, I just decided to take it seriously :-)

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I mean, around this time of year you might be diligently searching for answers to obscure tax questions, but that doesn't mean you necessarily have a genuine interest in tax law. Still, it's one form of motivation and perhaps says something about your priorities.

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Hi Armin, it really depends. Different property managers do things radically different. The best system I think is where the property manager guarantees the owner a certain income and just keeps everything over that amount. Though I'm pretty sure I'm the only person that's ever done it that way, it's better for all involved and avoids conflicts. In this system the owner gets less generally, but the manager is on the hook and can even lose money on some months out of season. The owner gets peace of mind and consistent income they can count on, and the manager is incentivized to really maximize the property.

In this system the manager is also responsible for all minor repairs, etc. But ultimately, the manager should make more this way than they would just taking a %.

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Yes, I believe it's basically the same. If they want to block certain dates for themselves that's easy enough to work in. If they want to set prices, participate more, then this system wouldn't work and you would need to agree on a %. Probably 20% + cleaning fees. But it really depends. There are a lot of variable.

I personally wouldn't want to manage someone else's property unless I paid them extra on top of the rent, a fixed amount, and kept all the upside from there. It just wouldn't be worth it to me other. I mean it would, surely, but I need to be inspired. And then if they wanted to visit I just put them on the calendar, at a fixed amount off of the rent price, so that part is easy.

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