We own a house on Hatteras Island that we rented out the past couple of years. We recently dropped our PM (not naming them here) for a number of reasons, but chief among them was their insistance on not raising rates. We know that all renters are different, but this past year we seemed to get nothing but people who seemed to think that they could treat our house any way they wanted. We got nowhere with our PM to get them to cover total repair costs for damages and loses. We really need a $300-$400 weekly increase to make it worth the pain we go through every fall restoring our house.
So yes, you are probably right, not all PM's are raising rates, but maybe they should! I'm sure this is not the case for everybody, but our house for one, was way underpriced by the PM.
Oh, BTW insurance costs are going up again on HI.
So every fall your spending $3000-$5000 to fix / replace things damaged by renters?
I will say that we spend $2000-3000 a year to repair or replace things. A grill or a hot tub cover is good for about 3 years at the most down here. Every set of sheets is replaced x2 for every bed in the house each year ( not counting those ruined during the rental season) Dishes get broken chipped stolen. Kitchenware gets lost. Outdoor electrical outlets and switches corrode rapidly.
Appliances take a brutal beating down here. Every week the fridge gets opened for hours while a renter unpacks it then leaves then opened when the cleaner cleans it then opened for another hour when the new renter checks in and loads it up again in 4 hours. The ice gets totally dumped as well and the freezer and ice maker than have to play catch up again.( if you check in and the temp is high give it a few hours before you complain to the management company)
Dishwashers can be run breakfast lunch and dinner depending on your renters.
Paint on walls gets scuffed up badly with suitcases being moved in and out every week.
Carpets get professionally cleaned 3 times during the season just to keep them presentable.
None of it is cheap and honestly there is a huge amount of work that goes into keeping renting and managing a vacation home that most people never see at all.
Typically in a 2 week stay I will spend anywhere from 4-6 days of my vacation doing or waiting for work to be done on our home.
Just normal wear and tear beats up most homes.