If you are a real estate investor looking for cash flow and want to avoid the hassle of collecting rent, paying bills, and solving everyday problems that may arise with your property, then we can help. We can assist you with all these time consuming tasks for a low monthly fee, letting you sit back and enjoy watching the cash flow and equity build up in your investment.
Within our property management division, we have a special department dedicated to short term rentals. The South Florida market has a great influx of tourists beginning in November for the Thanksgiving holiday, and continues through the month of April for the Easter holiday. During this six month period, the population of the Tri-County area (Miami-Dade, Broward, and Palm Beach) almost doubles.
Due to the added demand during high season, prices of rentals are sometimes double. Within high season, there are specific dates of holidays and events that get top pricing including Christmas, New Years, Art Basel, the Boat Show, the Super Bowl, Thanksgiving, and Easter, just to name a few.
Therefore if you own an investment property that allows for short term rentals, most likely condominium hotels, or vacation properties, it is a good strategy to manage them accordingly in order to maximize your cash flow and provide good flexibility of use for the owner as well.
When it comes to hotel condominiums, some of them have rental programs that are very inflexible and expensive to the unit owner, generating a very limited cash flow that barely allows them to pay for the costs of the property. Through our short term rental programs, you will maximize occupancy and rates, and minimize management cost.
Property Management Services
The following services are included in your monthly fee.
1. Collect rents and contract management to ensure timely rental payments.
2. Mailing of collection letters to all delinquent accounts and charge late fees if paid after the contract deadline.
3. Advise the realtor in charge when the time comes to either renew or cancel the rent.
4. Ensure all tenant claims are above the minimum repair price agreed in the rental contract.
5. Hold security deposit and deduct any expenses at move out which are not considered normal wear and tear.
6. Encourage tenant care for the unit.
7. Discourage problematic tenants with fictitious claims.
8. Control that no unauthorized repairs are made and deducted from rent by tenant.
9. Monitor that any changes made to the unit are approved and that the unit is returned in is original condition.
1. Establish an individual escrow account per individual property for each owner.
2. Present a monthly report summarizing the last period transactions.
3. Present an annual report with all activity for the calendar year.
4. Present a comprehensive report at the time of resale.
5. Coordinate all reporting to be sent to the owner’s accountant.
6. Keep in file with all expense receipts including HUD settlement statement for acquisition and disposition, property taxes, all bills for services and invoices for repairs.
7. Set up accounts with the association when the property is purchased for regular payment and cancel them when the property is sold.
8. Make a check of the net rental proceeds to owner to a physical mailing address as indicated by the owner.
9. Coordinate tenants inquiries and or requests: repairs, information, etc
10. Register owner’s utilities services and disconnect based on contracts with tenants.
Additional Property Manager Home Warranty Services
To preserve the value and integrity of the property and to keep a happy tenant by deliver the best response possible with defective property times, and keep our fees at a bare minimum, we sign up our customers with independent home warranty companies. We screen for the best qualified ones, which provide the highest value. For a small monthly fee this services include not only appliance repair but even appliance exchange.
Additional Property Manager Concierge Services
Any other service that is required by the owner not included in the categories above can include:
1. Checking owner or owner’s family and friends
3. Routine checkup visits as requested by owner
4. Restocking of unit items as required
5. Purchasing delivery and/or installation of furniture, decoration items, linen, and silverware as indicated by owner.
6. Making any bank diligences in person as opposed to electronic ones, on behalf of the owner
7. Any short term rental related activities that include check in, checkout, walkthroughs, delivery of keys, replacements, payment of occupancy tax, etc.
9. Any changes made to a unit that needs to be applied to the association and follow up to final decision.
10. Any other situation not included in any of our commitments.
Management Fees Start at $100 per Month
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