AirBnB is also a big part of the problem. If you want to rent your fully furnished apartment for $1300 (net to you), by the time AirBnB is done with fees to you and the tenant, the tenant is being charged $2200. It’s obscene. AirBnB and VRBO were originally meant to help homeowners offset there cost of their homes by renting a room or the entire place while they were away. Now they are these monstrosities that do nothing but syphon money from homeowners and tenants.
I’m glad you’re fixing up the place and keeping it off the hands of investment funds. Once it’s fixed up, if possible, I’d recommend renting it directly to a tenant for a bit under market rate. Management companies tend to price gouge tenants (and owners), and they con you into raising rent every year. They don’t care if the tenant can’t afford it or if the place stays empty for months. If you can find a tenant that is decent and treats your property well, stick with them, even if you make less than maximum on a monthly basis by charging less than market. Pass the savings of not having a middle man to your tenant and everyone (except the middle man) wins.