Many Florida condominium owners rent their vacation rental homes. Many of these same people live outside the area and manage their rental through a local management company. A couple of Louisville Kentucky real estate investors, Art and Nancy did not differ. They own a beautiful Florida apartment that rent them to tourists for most of the year. While many of these companies are doing a lot of work in day-to-day local care and cleaning their property, sometimes managing long distance rentals, may have difficulty.
Problem: Managing rented flats in Florida may leave you vulnerable to scams. Art and Nancy visited the owners of nearby accommodation units, and during the conversation they discovered that there were two weeks earlier the group of charterers. "That's funny," they thought … "We did not rent our unit two weeks ago!" After a search, they realized that employees from their cleaning office (having their own apartment keys and schedule when they were busy) rent their beautiful Florida apartment for weeks where they did not have an apartment booked!
Leaving a rental income, this is a huge risk of liability for them! without doubtful renters could be hurt or worsen during their stay and then will sue the "owners" of the apartment … who have never rented them first on vacation in Florida!
Solution: Creating a Friend with Neighboring Shareholders and Talking to Us Regularly
Art and Nancy decided that the best way to interact was with neighboring apartment owners who visited more often than they did. "It's amazing how much information you get and how much better you can manage your vacation rental with four or five other homeowner owners who look at you as well." Nancy said
Even if you let your cleaner know that you have a group of apartment owners who look at each other, they can discourage this type of activity and protect all the owners. In the case of Art and Nancy, they replaced the cleaning company so they were more comfortable. They coordinated with other apartment owners and are very careful to check who owns them.