Spend enough time in the vacation rental industry and you’ll eventually hear it: the debate between professional property managers and co-hosts. One side argues for regulation, trust accounts, and decades of operational experience. The other emphasizes flexibility, owner-first service, and modern business models.
Bill Faeth thinks the conversation has become too divisive.
Having built a multi-million-dollar short-term rental portfolio while also operating as an owner, co-host, and property manager, Bill has seen the industry from every angle. His view is simple: these groups aren’t competing against each other as much as they think they are.
There Doesn’t Have to Be a Winning Side
Bill believes professional property managers and co-hosts bring different strengths to the table.
While experienced property managers have built systems around compliance and operations, many co-hosts have introduced a more homeowner-centric approach. Rather than treating these as competing models, Bill believes there’s room for both to coexist.
The goal shouldn’t be proving one model is better, it should be learning from each other.
Structure Matters More Than Labels
One area where Bill is unwavering is merchant-of-record responsibilities. In his view, a properly structured co-hosting business should leave ownership exactly where it belongs: with the homeowner.
The homeowner owns the Airbnb and Vrbo listings. The homeowner controls the payment accounts. The homeowner receives the booking revenue. The co-host provides hospitality, guest communication, marketing, and operational support but never takes ownership of the financial relationship.
Bill shared stories of co-hosts who realized they had structured their businesses incorrectly. Once they understood the issue, they immediately changed course.
His point wasn’t that they were acting in bad faith. It was that education is often the missing piece.
As vacation rental businesses grow, those foundational decisions become even more important. Operators who scale successfully often put the right systems and processes in place early, as demonstrated by how Blu Vacation Rentals scaled its business.
Know the Rules Before You Panic
This conversation also touches on regulation. Bill describes speaking with co-hosts who received letters from local real estate boards and immediately assumed they had done something wrong.
His advice was straightforward: rather than panicking, understand how your business is structured and know which regulations actually apply to it.
That doesn’t mean ignoring legitimate state or municipal requirements. It means responding with knowledge instead of fear.
Service Should Always Come Before Attention
Toward the end of the conversation, Bill draws an interesting distinction within the industry. Not everyone with a large following is serving the industry.
Some people build content around helping operators make better decisions. Others build content simply to generate views, followers, and engagement.
Bill has no interest in chasing algorithms. His focus is helping owners, operators, and co-hosts build better businesses through practical education and real-world experience.
A Better Industry Starts with Better Conversations
Perhaps that’s the biggest takeaway from this first part of the conversation. Whether you’re an owner, a co-host, or a professional property manager, everyone ultimately wants the same outcome: better experiences for homeowners and guests.
That becomes much easier when the conversation shifts from defending labels to sharing knowledge.
For Bill, that’s how the vacation rental industry moves forward, not by choosing sides, but by learning from each other.
