There are pros and cons to everything, even
choosing whether or not to go with a professional property management company…

Once you have decided to purchase an investment property, you must then decide whether or not to use a professional property management company. Here are a few things to consider before you decide to do it on your own and which company to go with.

Pros ~

1. A professional property management company will set up your home and take care of all of the utilities. There is a lot to do when getting  home ready for clients. A property management company is very familiar with all that this entails, not only with utilities but also with furniture and other necessities.
2. A professional property management company will ensure that all legalities are taken care of. When you are preparing a home to receive clients, you need more than furniture and utilities. You also must have the necessary licenses, taxes and other legalities covered. Using a professional property management company will ensure these are covered.
3. Professional management companies have the staff to deal with emergencies at any hour of the day or night. When clients are in a home, anything can happen at any hour of the day or night. Using a property management company means that they will be taking care of those late night p;hone calls and emergencies.
4. You can choose a professional management company that will book your home and bring in revenue. Finding clients and keeping your home booked is difficult. A professional management company will be able to market your home and work with other agents to keep your home booked. This will ensure a constant source of revenue.
5. Using a professional management company, you can be sure that your home is kept at a high standard.

Cons~

1. There are extra costs if you choose to go with a professional management company. Of course with any service, there are fees and a management company is no different. You will have monthly charges on top of your regular house costs.
2. Are they trustworthy? Be sure to thoroughly check out any management company you may choose. There are good and bad in any industry and property management is no different. Read reviews and speak with current clients if possible.
3. A professional property management company may be impersonal with your guests. Any time you use a company as opposed to an individual, you loose some of your own personal touches.

Whether or not you choose to use a professional property management company to take care of your investment property is a big decision. If you would like to discuss these points -or have other concerns, I’d be happy to assist you. Email me An@OrlandoVacationRealty.com or give me a call (001) 800-0888.

Filed under: Blog by Terry Riffe
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There are many things for UK Investors to keep in mind if they are interested in Florida Real Estate. Here are 10 expert tips…

1. Be sure you have a basic knowledge of the area you are investing in.
2. Surround yourself with experts and utilize their knowledge. Work with a Real Estate Broker in the area you are interested in.
3. Budget and finances – Know what your budget is and what to expect as a return.
4. Compare benefits of buying cash, mortgage, equity etc.
5. Keep your running costs low.
6. Research management services, know the benefits.
7. Talk to a CPA or attorney about the benefits of setting up an LLC to protect your assets.
8. Request a market analysis (CMA) of any property you are interested in before making an offer.
9. Choose an experienced and licensed Real Estate agent. As the buyer, you do not pay for this service. I highly recommend this so you have someone representing you that has your best interest at heart. They will have the knowledge and expertise you need for the local real estate market.
10. Open a US bank account. This is very important and should be done as soon as possible.

If you are a UK investor and are  interested in the Central Florida Real Estate Market, email me An@OrlanodVacationRealty.com or give me a call (001) 800-0888.

Filed under: Blog by Terry Riffe
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