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 Management
Services for your Florida Property
If you are contemplating buying a vacation/holiday property in Florida
near the Walt Disney World area, you will most certainly require
the services of a local company to manage and possibly to rent out
the property in your absence.
Your management company will perform many important functions, all
designed to maintain your property to the highest standards while
ensuring your peace of mind. We can structure a management agreement
to meet your needs, whether your home will be for personal use,
short or long term rental.
The following is
an explanation in detail of the functions that we perform; after which
is a “quick reference guide”.
LICENSING
Properties which are intended to participate in a short term rental
programs must be properly licensed with the Department of Regulation,
Division of Hotels and Restaurants and a Florida State Agency. The
annual fee is approx $140 - $150 for single family residences. In
addition, the State of Florida will inspect each rental home before
issuing the license.
The inspection will require that each home have the following:
1. A “2A40BC” fire extinguisher.
2. Additional smoke alarm for the hearing impaired.
3. All exterior doors, including the glass sliding doors, will need
a double locking system.
4. A rate card must be on file and maintained in the management company
office
5. Smoke alarms in all sleeping areas, i.e. bedrooms and living areas,
and they must be inter connected. If already built, we will inspect
your home to make sure you are in compliance. If your home is to be
built, the developer will usually install smoke alarms at no charge.
We always ensure that the home complies with the law.
TAXES
In addition to the property taxes that every homeowner has to pay
a tax based on the gross rents received must be collected for any
rentals of 180 days or less. This tax is made up of :
1. A 5-6% Tourist Development or Resort Tax
2. A 6-7% State of Florida Sales Tax Total: 11-13% of gross rentals.
Normally these taxes are charged on top of the rents and paid by the
tenants - much the same as would take place with a hotel or motel.
Taxes are collected and submitted to the appropriate agencies on a
monthly basis in compliance with the law. You are also assured that
you are properly registered. Sales Resort Tax is collected and paid
on the rental income generated from your property. It is the responsibility
of the owner to declare the rental income achieved on Owner Bookings
and to pay the relevant tourist tax. However, upon your instruction
the amount due will be paid to the relevant county tax office.
INSURANCE
All owners of rental properties must have a current homeowners’ insurance
policy in effect, a copy of which is to be kept on file in our offices.
It is recommended that one million dollars of liability coverage be
purchased along with the standard homeowners’ policy. The costs depend
on the size of the home, location and type of construction.
ACCOUNTING STATEMENTS
Each property owner will receive an accounting of all revenues received
and all expenditures relating to their rental property on a monthly
basis in accordance with the Property Management Agreement. Service
charges, utilities, management fees and any miscellaneous charges
will be debited from your account as per prior arrangement at this
time. If for any reason there were moneys due, they would be due at
this time. The monthly statements obviously become an important record
for your year-end tax purposes; however, you will be supplied with
a year-end accounting statement recapping all activity for the current
year.
Each month an accounting statement is sent to you showing deposits
and withdrawals, i.e. income and expense. This is used at year-end
to provide you and your accountant with an accurate record of your
operating expense. This is a client escrow and, by Florida Law, has
to be maintained in a credit balance. Funds in this account cannot
be used for anything other than your expenses.
SERVICES
You are provided with a complete line of services to maintain and
enhance your property's rental value. All services are carried out
by fully licensed professionals. Following is a list of the property
maintenance services provided and an explanation of each.
- 1. Lawn Service
- Complete maintenance of the entire lawn area including grass
mowing, trimming, watering and fertilization. Your lawn will be
monitored so that if any problems, such as excessive weeds, cinch
bugs, etc. become evident treatment can be initiated immediately
thus avoiding more costly damage later. Lawn service is performed
weekly during the growing season and less frequently during the
dormant season, but no less than twice per month. This service
is billed in 12 equal monthly payments.
- 2. Pool Service
- Complete cleaning of the pool, pool traps, pump traps and pump
filters. In addition, the water is chlorinated and pH balanced.
All chemicals are included. Service performed, 52 weeks a year
and is billed in a monthly basis.
- 3. Pest Control
- The chemical treatment of the interior and exterior of the home
for the elimination of all types of insects. This is a normal
and recommended service for all Florida homes. Homes are treated
every month. The service is billed based on 12 equal monthly payments.
- 4. Home Cleaning
Service -The complete cleaning of home linens, towels, bedcovers
and dishes following the checkout of a renter. An inventory is
performed at this time checking for damages, if necessary, the
renters damage deposit is charged. This procedure is essential
for preserving the home and furnishings for you the homeowner.
Home cleaning service is available on a more frequent basis if
the renter desires it and would be billed directly unless prior
arrangements have been made. Home cleaning service is billed on
your monthly statement when utilized.
- 5. Maintenance
– Scuff marks on the wall, small spots on the carpet, minor damage
to dishes, etc. are considered “normal wear and tear”. Most often,
these types of things can be corrected and there is no charge
to the renter or the homeowner. However, occasionally there is
a need for major maintenance.
BILL PAYER
SERVICE
The home owner will in most cases open an account at a local U.S.
bank for such purposes as direct payment of their mortgage and transfer
of funds between the Property Management Company and the home owner.
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FREE
1 Year marketing package with the purchase of any NEW home
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