I recently had some proposals for vacation property management in FL. One of the proposals said they screened prospective tenants and indicated that there was a black list. I would suggest that a national management firm can do this well, and that an individual renting through the internet is at the other end of the spectrum. The higher management fees they get may be worth it. Losing rent after a tenant has damaged a place delaying the following rental can be a big problem for future rentals. Certainly, if you lose one week out of ten summer weeks, that's a big part of your cash flow. They also had an optional insurance program that paid up to $25K for tenant damage. It doesn't take much to chew up a security deposit. There was also an incentive program for tenants to report mishaps immediately, minimizing damage.
|