So, you've purchased a great property in Florida? Now one of the most important decisions you will have to make following the purchase is deciding which management company to use. There are many options out there, but for your own peace of mind you need to find a reputable company who will look after your property while you are hundreds; maybe thousands of miles away.

1. How Experienced is the Company? Setting up a rental company is one of the most favoured routes to obtaining a visa to immigrate to America. Some new companies are well motivated and provide excellent service to build their reputation, others at the very least dont have a clue how to operate a business and its only a matter of time before they run into financial problems, often with your funds!
2. Keep in regular contact with the Management company. Ownership can change quickly without warning.
3. Be aware. If a real estate company directly operates a management company service there may be a number of points worth considering. Some companies work on the principle of free flights and accommodation for clients on inspection trips, whose property will they stay in free of charge when over? Some Companies are interested in selling properties at high commission rates and then selling their overpriced and expensive management services - a double whammy! Beware putting all your eggs into one basket.
4. Checkout the performance of companies. With independent reports such as the yearly one carried out in publications like Florida Homes and Travel who do a comprehensive survey of villa owners in Florida.
5. What Type of rental are you looking for? Long term rentals (ltr) are usually for a 12 month period. You do not need to furnish the property for this form of rental but this means you cannot use the property yourself between lets, unless you like a minimalist furnishing style!. The management company you select only needs to find you a tenant and you could use a local sercice company to carry out ongoing maintenance. For short term rentals (str) you will need a much more hands on management company with a 24/7 service, to deal with the wide range of queries and problems from holiday makers.
6. Checkout charges. In some locations there is a lots competition however lower charges , cut to the bone are not necessarily synonymous with either great efficiency or quality of service - if charges are set too low Companies may skimp on some essentials. For example cutting back on pool service can lead to a pool full of allgie, resembling a scene from the day of the Triffods rather than a holiday in paradise. Full service maintenance come at cost, but for example if you opt to only have your grass cut rather than cut and treated you may find yourself having to replace that expensive St augustines turf in a year thanks to the combination of chinch bugs - a less welcome Florida resident - and weeds.
7. Ensure you pay all tax and service bills are sent to your UK address. This will give you tighter control on your costs and avoid a scenario where through incompetance or fraud your house is subject to a lien, due to unpaid property tax bills, this happens every year.
8. Use a specialised property broker. Identfy an appropriate location and an experienced honest Real Estate Agent in the first place, do not attempt to buy the property yourself or directly from a developer. A good fully licensed experienced specialised property broker will due to the property buying system in Florida cost you nothing and keep in regular contact with you, long after you have bought your property and update you on the performance of Management companies. If your property broker does not keep in regular contact and is readily available you may have chosen the wrong company!
9. How much time and involvement are you prepared to provide? To maximize your income potential you will obtain the best results using a str - if you use your management company or a guaranteed rental scheme the weekly rentals tend to be significantly lower, than if you market the property yourself - we can advise on how our most successful clients successfully market their properties to maximize rental weeks.
10. Checkout the Company. Research the records of the local Better Business Bureau, Chamber of Commerce, Sherrif's Office , Licensing Authorities and the web.