You must Protect your Investment be sure to ask these Questions when selecting a Property Manager to Protect your asset.

First I want to state that I am not a Property Manager and do not know all the ins and outs.  We sell alot of this type of investment and second home property and I feel it is important that our customers know some of the basics.  We want to see our customers recieving professional services before, during and after the sale.  So here are a few points you will want to consider.

Central Florida is home to many investors of short term zoned homes, condos and townhomes.  It is imperative to know how important selecting a property manager can be if you want to protect your investment.  It is also important to know what questions to ask before you purchase one.  That is another blog and we will touch on it briefly here but ask yourself some of the following questions and if you can’t answer these questions find someone that can help you.

First of all Property Managers of Short Term Rentals are not regulated by the Florida Real Estate Commission, they fall under the hotel / motel category and do not need to be licensed.  If this is important to you ask, there are exceptions and some fine managers that are not but really know the background and property management contract of the people you are considering.

Ask the Property Manager if they keep their deposits in an escrow account in this country.  They don’t have to and can comingle funds without recourse.  After all it is your money and should be in an escrowed protected account. 

Next what type of license do they have individual licenses for each property where the homeowner is liable and totally exposed or do they operate under a group license and take the responsibility.

Do they know that towels under the sink can shut down a property in Polk or Osceola County.  An obsure law states that no linens can be near water sources.  You may want to ask if they keep towels under the sink and find out if they know the answer.  Would they ever be caught well who knows but a good property manager will know the answer to this question.

What is their policy on BBQ grills this is a huge liability and in Polk and Osceola Counties it is against regulations to have those in a garage, and sometimes as the law changes on the pool deck.  If your guests want to BBQ the grill needs to be delivered and then removed.  One guest left the propane tank on and put the BBQ in the garage went out to start the car and the next day boom no more garage.  No serious injuries but believe me their deposit wasn’t returned.

How much do they charge to maintain a pool, lawn ( which is covered by most HOAs in gated communities) do they charge to turn on the pool heater?  As John Stossel would say "give me a break" 

What are the preventitive maintenance charges?  Do they caulk, change filters if so is this part of the service or an extra charge.  What about pest control again included in alot of HOA dues.

Now with all these services it might also be smart to ask how much staff do you have?  What kind of a team is there to support the services they charge for.

If your unit is missing a frying pan and they get called by a guest to go out and replace it at 11:30 at night will that be an extra charge or part of the service fee.

Many think the monthly fee a property manager charges is huge but believe me it is not.  Just the cost of gas these days has eaten away at profit margin.

Most important where do the bookings come from?  A tour company that will also charge the manager fees even before it gets to you.  Retail from the internet and then what is the cost of the ads there, and finally what are the fees if you provide a booking.  Usually there is an admin fee to keep the records but in the end the more bookings you can provide the better.

Last but not least what type of reporting software do you use to report the monthly statements to the owners?  Their record keeping can directly effect your bottom line.  If the proper forms are not filed monthly with the county it could result in a warrant against your property.

Oh yes this brings me to the point of what to ask when buying one..be sure the title company knows that there are no warrants or liens owed the county for not paying the tourist tax.  This is usually included in the fee for the rental and paid by the guest, but if the property manager doesn’t report the new owner could be in for some unpleasant surprises and unexpected charges.  There are fines for not reporting monthly about $50 even if there is nothing to report a form needs to be filed. 

So you  can see it is important to know even a few basic questions that will protect your future investment.

Back by Popular Demand! Disney Cruise Line To Set Sail from The Port of Los Angeles

Usually, the Disney Magic embarks from Port Canaveral. As it did in 2005, though, for a celebration of Disneyland’s 50th anniversary, the ship will depart from the Port of Los Angeles in summer of 2008 for 12 consecutive seven-night cruises. The first cruise will be on May 25, 2008. Bookings for the cruises begin the end of this month, January 31, 2007.

The ship will sail to the Mexican Riviera visiting such places as Puerto Vallarta and Cabo San Lucas along the way. More information can be found at on their website.

Should you lock your rate now or ride the wave with interest rates don’t wait it could cost you your hard earned $$$$

Any guess with this is just opinion but look at the economy and watch the trend.  This is always a hard question to answer when people ask me should I lock my rate.  Here is an easy explanation with the numbers which I hope helps.

A second month of good new construction reports and economic forecasts the Interest rates are up to 6.23% the highest in nine weeks for a 30 yr. fixed from 6.21% according to Freddie Mac.  This improving performance means that the Federal Reserve will be less likely to cut interest rates any time soon.  15 year rates are at 5.98% from 5.96%, and 5 year adjustable rates are up just a bit from 6.03% to 6.04%, and one year arms rose to 5.51% from 5.44%

Coche Island surrounded by the Caribbean Sea offers 30 semi-detached villas at Punta Blanca

Coche Island is a small, thin island a few miles south of Margarita Island, off the coast of Venezuela. It was discovered by the Spaniards in 1528. Several centuries later, in April, 1815, Venezuelan patriots sunk the Spanish flag warship Pedro Alcantara and its 1000 member crew. The remains of the ship is still in the water.

 

Coche Island (Isla de Coche) is bordered on all sides by the Caribbean Sea. A tranquil fishing village, it has beautiful beaches and sunsets and calm waters. At Punta Blanca on Coche Island are 30 semi-detached villas run as a condo hotel.

These units are steps from the beach with a community pool. All are 1 bedroom, 1 1/2 bath and can sleep up to four people. Rental revenues are available. Prices for these units are$176,546 to $219,160 USD.

For more information on the villas on Coche Island call The Caribbean Top Team from Keller Williams at the Lakes at 1-877-962-4242 and speak to Teri Isner, Tammy Martinez or Eileen Wilson. 

Beautifully furnished 3 bed 3 bath townhome on conservation lot. Only $262,500 with bookings.

AMAZING VACATION RENTAL WITH GREAT WINDSOR  PALMS VACATION  RENTAL HISTORY.  THE HOT TUB & COMPUTER STAY IN THIS FURNISHED HOME FRESHLY PAINTED.  TERRIFIC PRICE FULLY FURNISHED WITH BOOKINGS! 

They include three pools, tennis, basketball & volleyball courts, exercise gym, game room, Video Arcade, sundry shop and playground.  There is even a private cinema where you can have private screenings.

All the features of the resort are yours to enjoy while staying with us. Add to this the benefits of the Mystic Dunes Golf and Country Club located just across the boulevard with 18 holes of PGA Golf only a short walk away.  Hotel-sized Pool, family Jacuzzi &   separate gated Children’s Pool, all heated for winter comfort. Fully equipped Fitness Center, Billiards, Video Arcade & Ping Pong. 

Lighted Court Areas Basketball Courts and Tennis Courts.  There is also a Children’s Playground, Sand Volley Ball Court, and Family Picnic & Barbecue. 

Presidents Hall of Fame in Clermont to Display Mementos from President Ford

Mementos from the Ford administration and from former President Gerald R. Ford himself will go on display in the Presidents Hall of Fame museum in Clermont. The exhibit is in preparation now and will be on display through Presidents Day in February. The new exhibit will include a wax figure of Ford, a limousine in which he rode, signed photos and other memorabilia.

The museum is located at 123 N. US Highway 27 in Lake County. It includes displays from all the presidents of The United States, their first ladies and miniature replicas of the White House. This is a family friendly museum which caters to students and educational groups.

A hotel right in the middle of the airport at OIA in Orlando, Florida

Every day over 80,000 passengers fly in and out of Orlando International and some 30 million domestic passengers use the airport each year. OIA is a beautiful airport and features a beautiful hotel seen from the terminal. You can’t miss it! The Hyatt Regency Hotel Orlando International Airport is inside the airport lobby and features warm atrium-style architecture, tropical palms trees and cozy seating areas.

Margarita Island Playa El Agua Caribbean Beach

Margarita Island off the coast of Venezuela is a popular resort and vacation destination abounding in turquoise Caribbean waters, white sandy beaches and warm sunny days.

The most popular beach is Playa El Agua (“playa” meaning “beach” and “agua” meaning “water”.) This white sand beach is nearly three miles long and is lined with tall, mature palm trees. There are over 40 restaurants at Playa El Agua, ranging from food kiosks to more elaborate restaurants serving lobster and steak. There are also many shops selling the works of local artisans, postcards and such.

Ocean view condos are being built on Playa El Agua Boulevard. This venture is being built as a condo hotel. Rental revenue will be available.

There will be 58 units on five floors. They will be 720 square feet to 1049 square feet and all will be 1-bedroom, 1-bath. Prices will be from the low $100,000 to under $200,000.

For more information, call The Caribbean Top Team from Keller Williams at the Lakes, 1-877-962-4242 or and ask to speak with Teri Isner, Tammy Martinez or Eileen Wilson. Visit our website, and learn about real estate opportunities in the Southern Caribbean, and West Indies.

When you move to Florida and need to register your car check out the variety of over 100 Specialty License Plates!

Is it some randomly assigned letters and numbers – or an expression of who you are?! Florida leads the nation with the number of specialty tags to choose from. There are over 100! The most popular is the Panther plate.

The Panther has held the #1 ranking for the last five years. Protect Wild Dolphins is #2, followed by The University of Florida, the Sea Turtle and Save the Manatee. Florida State falls in at the 6th spot. Floridians are big fans of their schools and, even at numbers 92 and 93, Palm Beach Atlantic University and Eckerd College are represented.  How about those Gators this year.

Other specialty plates include the Large Mouth Bass, The State Wildflower, The Orlando Magic and The Indian River Lagoon.  Here is one for Bob Barker he is always saying…

To see beautiful pictures and a list of the specialty plates, or find out the fee and the date each plate was enacted, check the specialty tags division here. 

Enjoy the lush scenery of the West Indies, see archaeological Island history!

See all the way to Antigua and Monserrat on the Herbert Heights observation deck! This is an area of history. Above you is the ruins of a sugar plantation thought to be from the second half of the 17th century.

Trails take you through the rain forest of the village of Rawlins with its mango and spice trees, palm and bamboo trees. On your journey you may see a mountain pond with water lillies, croppio frogs and fresh water fish. More information on the history of the area as well as information on tours and facilities can be found on their Herbert Heights website.