1 Should I rent my home as an annual rental or vacation rental?
There are a few things to consider. First and foremost, you must determine if local governmental laws and/or homeowner association rules and regulations restrict rental durations. Once this is determined, you can then evaluate how to maximize your return on investment.
Generally speaking, vacation/seasonal rentals that are in highly desirable locations such as Siesta Key, Lido Key or golf communities produce higher revenues with the majority of revenue generated during peak season, January through April, and leveling out over the remainder of the year. Owners that plan to occasionally occupy their property prefer short-term renting. Rentals of 6 months or greater tend to generate a more consistent revenue stream but typically less total annual revenue.
2 How much will my home rent for?
Ascendia Property Management can provide a rental income evaluation, typically within 24 hours. With enough information, APM can also help you project estimated annual rental income and expenses in order to determine your potential return on investment. As a rule of thumb, homes and condominiums that are located close to beaches and other vacation amenities, like golf courses, enjoy higher and more consistent rental income.
3 How much do you charge for property management?
Our fee structure is customized to meet the needs of each individual owner. Fees are structured depending on the amount of services the owner requests APM to provide. Fees can be based on an a la carte basis. Flexibility to meet your needs is our commitment.
4 Is there a set-up fee?
No! Ascendia Property Management earns our fees based on our ability to rent your property.
5 What if I prefer to not rent my home and use it for personal family vacations and eventual retirement only? Do you provide services to take care of my home when I am not there?
Yes. Many of our clients buy a second home for their own personal use, investment and retirement. We created our Homewatch Program to specifically meet their needs and watch over their home while they are away.
6 How do you advertise my property and maximize my potential rental income?
Ascendia Property Management uses cutting edge software that systematically advertises your property on dozens of web sites to be certain your property is prominently displayed to the appropriate audience. APM will use the right combination of photos, property descriptions, videos, web based maps, virtual tours, interactive availability calendars, on-line booking engines, and more to generate rental prospects and maximize rental revenue for your home.
7 Who pays for advertising my rental home?
Depending on the type of rental (vacation rental, seasonal rental, or annual rental) Ascendia Property Management will cover the bulk of the advertising costs, particularly through our software advertising partners. However, there are web sites for homeowners to enroll which are available for a nominal additional charge.
8 Who handles housekeeping and cleaning of my property?
Ascendia Property Management manages all cleaning, housekeeping, and maintenance needs for your home. APM partners with several cleaning and maintenance companies that are the best in the business and ensure your home is cleaned to hospitality standards and properly maintained.
9 Should we accept pets?
The rental market is very competitive. A great way to set your rental home apart from the competition is to be pet friendly. Pet friendly properties are in high demand, Ascendia Property Management charges pet cleaning fees and provides specialized cleaning services to ensure your property is properly cleaned and inspected after each rental with a pet.
10 Whats difference between a seasonal rental and the a vacation rental?
A seasonal rental is considered 2 – 5 months in duration. A vacation rental can be as short as one week and as long as 1 to 2 months. An annual rental is 7 to 12 plus months. APM is happy to manage your property with any of the above options, maximize your rental revenue and maintain occupancy of your property.
11 Can you sell my home if I not longer want to rent it?
Yes. Contact us for a free Comparative Market Analysis. Ascendia Real Estate agents have extensive knowledge of all of Sarasota and Manatee Counties including surrounding towns, communities, and neighborhoods. We offer a free evaluation of your home based on current properties for sale and recently closed sales in your area. Our expertise at interpreting these complicated statistics will help you make that decision. http://www.ascendiarealestate.com/contact-ascendia
12 Should I rent my home furnished or unfurnished?
As a vacation rental, your rental home will need to be fully furnished with all of the amenities today's travelers have come to expect and demand. If you want your property leased as an annual rental, that decision is yours to determine along with our advice and suggestions. If the unit is furnished do you have somewhere to store your belongings? If not, the property can be rented furnished, understanding renters are generally more transient and may not remain beyond one year. If the unit is unfurnished, there's a greater chance to retain a renter for several years.
13 Will you inspect my home when its not being used?
Yes. APM created a Homewatch program specifically to meet the needs of our clients with homes in the greater Sarasota area. Based on your needs, we can regularly provide inspections to identify issues related to water leaks, weather, pests, humidity and any other concerns when you are away from your home. With APM, know that your home is being cared for by people who live and operate in the area.
14 What is your policy on security deposits?
Security deposits are agreed upon by you and APM prior to APM managing the property.
15 When do I get paid rental revenue?
Your homeowner statement and net revenue will be paid by the 15th of the month for all rental revenue collected in the month prior. For your convenience, we will direct deposit rental revenue into your account.
16 Who will pay the accommodation (tourist tax) and state tax due?
The tourist development tax is a 5% charge on the revenue from rentals of six months or less.. This tax is in addition to the state sales tax (7% in Sarasota County). The state sales tax is sent to the Florida Department of Revenue. The local tourist development tax is sent to the Sarasota County Tax Collector.
17 Do you require renters to have insurance?
Yes. Annual tenants are required to show proof of insurance for their personal contents and liability.
18 Do you inventory the property before and after every renter?
Yes. Inventory of the property is taken before the unit is rented and the housekeeping staff is provided with the inventory list to review at check out. APM also takes photos of your home prior to renting to assist with inventory tracking and damage evaluation.
19 Do I provide my own vendors such as pool, lawn and air-conditioning maintenance?
Ascendia Property Management has carefully selected a list of vendors that we work with on a regular basis. We also understand that you may have vendors who know and understand your property and whom you have a long and successful relationship. The last thing we want is to interrupt that relationship.
20 Who is my main contact or property manager?
You will be assigned a Service Manager to oversee your property and be your primary point of contact. While APM provides various functions including marketing your property, providing accounting services, managing rental occupancy, etc. your Service Manager will remain your primary point of contact.
21 How can I stay up to date on rental activity, rental income and related expenses?
Once you have contracted for our services, you will be assigned a user name and password to access your account on-line. Transactions such as rental activity, income, expenses and maintenance records are available whenever you need an update.
22 Can I sell my unit while the renters are still occupying it?
Absolutely. The procedure is different for vacation/seasonal rentals from annual rentals. Contact us for more detailed information.
23 Can I perform maintenance and repairs myself?
It depends on the scope of the work being performed. For example, for liability purposes we prefer work be completed by certified professionals (i.e., electricians, plumbers, etc. You can provide preventative maintenance to your home such as changing light bulbs, A/C filters and smoke alarm batteries. However, for your convenience, APM offers these services for a nominal fee.
24 If I already have an existing tenant, will you take over management of the property?
Yes. APM can seamlessly transition the management of your property without inconveniencing your tenant. We do not charge a set-up fee to do this.
25 Do you handle evictions?
APM works with local authorities when a tenant becomes delinquent on their rent. Tenants that have not made rent payment 3 days after the rent payment is due will be provided with a written Three Day Pay or Vacate Notice. This provides the tenant with the opportunity to make payment or vacate the premises. APM will disclose all eviction costs to you and discuss the matter in great detail prior to beginning the eviction process.
26 Can the tenants handle the repairs and maintenance themselves?
For liability purposes we recommend work be completed by certified professionals (i.e., electricians, plumbers, etc.). With your approval, tenants can provide preventative maintenance to your home such as changing light bulbs, A/C filters and smoke alarm batteries. However, for your convenience, APM offers these services for a nominal fee.