5 reasons to hire a Florida property management company

If you own a vacation rental property, you already know that there's a lot more to your investment than simply collecting rent checks. For some, investment real estate is a full time business. For the vast majority of those who invest in vacation rental properties, however, the goal is to make money that will supplement their income or retirement. If you're one of the latter and you're not careful, your property could end up consuming all of your time and money.

Enter the property management company! Property management companies come in all shapes and sizes. Most resort areas will have several companies to choose from. If you're not experienced in the business of vacation real estate management, then it would be smart to hire someone who is.

Here are 5 things an experienced property management company can do for you.

1) Check In service
Where do your guests check in? When can they check in? A property management company provides a professional office where your guests can check in for their stay at your property. It will act like a hotel's front desk to the guests, although the office may be off site from your property. Visitors will have a place where they can get their questions answered. In addition, they'll be able to check in at all hours without bothering you personally.

2) Reservations
It's likely you're not personally available 24 hours a day, 7 days a week to take reservations. A property management company will field calls, emails and internet reservations for your property on your behalf. Guests will always have someone to contact, and they won't have to wait for you to return their email or phone call.

3) Advertising/Marketing
Most property management companies know the landscape. They understand the seasonality of the visitors, where they're coming from, and who your target market is. Because they manage multiple properties, they're able to get discounts on ads on the internet, in newspapers and magazines. The relationships that management companies have built with publishers, local Chambers of Commerce and the visitors themselves will save you money and time in your marketing efforts.

4) Emergency Situations
You probably would rather not be bothered when the pipe bursts in the middle of the night. If you aren't near your vacation rental, it wouldn't do any good to bother you anyway. A property management company is there to field emergency calls and they have the staff to handle any such emergencies right away.

5) Housekeeping/Maintenance
If you've got a new set of guests every month, or every week, there's going to be some wear and tear on the property. A good property management company will handle small repairs like changing light bulbs, fixing damaged window screens and leaks in the plumbing. At the very least, the place will have to be cleaned and the linens will have to be laundered in between guests. It's probably not feasible for you to handle this yourself. As with advertising and marketing, a property management service can likely negotiate better rates on cleaning and maintenance services than you could on your own.
Clearly, a property management company will save you plenty of time and headaches so you can actually enjoy owning your Florida rental property. What most people don't realize is that a good property management company can frequently save you the equivalent of their fees in the lower costs they're able to broker on housekeeping, maintenance and advertising services. You won't have to worry about payroll taxes and other hiring concerns because your support staff will all work for the property management company. Finally, your property managers will be well versed in Florida real estate law as well as local codes and ordinances, so you'll always be in compliance.

To receive more information, please go to TRS Information and Reservation Form.