When you purchase your vacation home, the question is not do you need to engage a property management company but which company to engage from a very large field of companies. You may live 1 miles or 10,000 miles from your vacation home but unless you are a licensed realtor and licensed property manager you will need this service.
The Primary Job of the Property Management Company is to Keep Your house Booked, Clean and in Good Operating Condition
Orlando Vacation Homes – Charles Valeston, La Rosa Realty: What services can I expect from a property management company? We previously stated if you intend to rent your vacation home to vacationing families you will be operating a mini-hotel business. For this reason you will need an operating license from the state of Florida and just like a hotel you will require marketing, sales and systems. The primary job of the property management company is to make some portion of the prospective 55,000,000 vacationers aware of your property and sell bookings. The property management company should have systems to make reservations, collect deposits, rent payments and to pay your bills. The property manager will need to arrange for service providers (electric, water, telephone, internet and alarm system monitoring), housekeepers, maintenance and repair, deep household cleaning, pool cleaning, laundry, and pest spraying. Generally speaking, the property manager must keep your house clean and in good operating condition.
The following is a list of typical services to look for when deciding which property management company to select:
- What is the flat monthly fee? Most Property Management Companies charge a flat fee.
- Will the management company assist in obtaining/renewing the state operating license?
- Will the management company require you to purchase special door locks for key cards and/or access codes?
- Do they have Accounting/reconciliation systems with easy to understand statements?
- Bill payment service
- Owner bank accounts
- Does the management company offer a comprehensive marketing and sales plan?
- A Website(s) able to feature your property in its best light
- Reservation call agents
- A large network with travel agents
- Demonstrated ability to reach vacationing families from all over the globe
- Do they have a full time staff of housekeepers?.
- Does the management company have a full time Maintenance staff?
- Does the management company have a program to encourage owner participation in sale and booking of your vacation property?
As an owner your personal efforts in selling the use of your vacation property to your personal sphere of influence (friends and family) can make a huge difference to your bottom line. You want to select a property management company that is easy to work with and has an excellent track record and reputation.
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