Updated November 2026
The rate is not the cost
The cost of a manager is what you do not keep. That depends on two numbers, the percentage and the revenue it is applied to, and owners compare only the first. On the home page we show it on a $100,000 baseline: a 15% manager leaves you $85,000; a 20% manager leaves you $80,000; a 25% manager who books 30% more, $130,000, leaves you $97,500. The 25% manager is $12,500 to $17,500 cheaper for the same house in the same year.
The break-even, in general
How much more does a manager at a higher fee have to book to leave you with the same net? The formula is simple. If you keep (1 − a) of revenue R with manager A and (1 − b) of revenue R′ with manager B, you are indifferent when R′ = R × (1 − a) ÷ (1 − b).
| Lower fee | You keep with them | You keep at 25% | 25% manager must book |
|---|---|---|---|
| 15% | 85% | 75% | +13.3% more revenue |
| 18% | 82% | 75% | +9.3% more revenue |
| 20% | 80% | 75% | +6.7% more revenue |
| 22% | 78% | 75% | +4.0% more revenue |
Against a 20% manager, a 25% manager needs to book 7% more to break even. Against 15%, 13% more. Our own homes run 30% or more above their comps. Everything above the break-even is yours.
Worked example: a 4-bedroom in Blowing Rock
The median 4-bedroom in Blowing Rock earned about $77,200 over the last twelve months, including guest-paid cleaning fees.
- With a 15% manager who books the median: you keep about $65,620.
- With a 20% manager who books the median: about $61,760.
- With a 25% manager who books 30% above the median ($100,360): about $75,270.
The difference between the first and the third is about $9,650 a year, in your account, from the same house.
Worked example: a 5-bedroom at Lake Norman
The median 5-bedroom at Lake Norman earned about $85,700. At 15% booking the median you keep about $72,845; at 25% booking 30% more you keep about $83,558. The gap is about $10,712, which on a lake house is a dock repair and a new set of patio furniture every year.
Worked example: a 3-bedroom in Charlotte
The median 3-bedroom in Charlotte earned about $22,500. The percentages work the same way but the dollars are smaller: 15% booking the median leaves about $19,125; 25% booking 30% more leaves about $21,938. The gap is about $2,812. Smaller, but it is the same direction, and in a flat market like Charlotte the 30% is harder to find and matters more, because it is nearly all pricing and occupancy rather than the house.
The part the percentage hides
The comparison above is generous to the low-fee manager, because it assumes the percentage is the whole cost. Usually it is not. Add the 10% to 20% markup on repairs and supplies, the damage waiver kept by the manager, the $35-a-month inspection, the $99-a-month hot tub service, the onboarding fee, and a 15% manager can be an 18% or 20% manager in effect. What management costs in NC lists the lines to add up. Ours: 25% of the nightly rate plus extra-guest and pet fees, repairs invoiced separately and itemized, and nothing else comes out of your bookings.
When the higher fee is not worth it
Be fair to the arithmetic in both directions. A higher fee is only worth it if the manager actually books more. A 25% manager who books the median is simply more expensive than a 15% manager who books the median, by ten points of revenue. So the question to ask any manager, including us, is not "what is your fee" but "what will this house book, and how do you know". We answer with the revenue check, the medians by town, and the performance of our own homes against their comps, with the method and its caveats in How we measure.
The one-line version
We do not try to win on the smallest fee. We win on revenue.
Put your address into the revenue check, take the range, and run the arithmetic above on your own numbers. If it does not come out in our favor, we would rather you knew now.
Questions owners ask
Is a 25% property management fee too high?
Only if the manager does not book more than a cheaper one. A 25% manager needs to book about 7% more revenue than a 20% manager, or about 13% more than a 15% manager, to leave the owner the same net. Host Carolina's own homes run 30% or more above their comps.
How do I compare two property management fees?
Multiply what each manager is likely to book by the share you keep after their fee and add-ons. The one with the bigger result is cheaper, whatever the percentage. Ask each manager what the house will book and how they know.
How much more does a manager have to book to justify a higher fee?
The break-even is R × (1 − lower fee) ÷ (1 − higher fee). From 15% to 25% that is 13.3% more revenue; from 20% to 25% it is 6.7%; from 22% to 25% it is 4%.
See what your home should earn
Put in your address and you will see your market range in about a minute, no phone number needed. Or call or text (828) 478-8024 and an owner of the company answers.