Think back to the last time your family was away from home for more than a week or two. All of a sudden, your most prized possession that you leave unattended every single day started to feel a little vulnerable, didn’t it?
Maybe you left some lights on in the house so it looked like someone was still home. You probably asked one of your neighbors if they wouldn’t mind keeping an eye out while you were gone. You might’ve even put a hold on your mail with the post office so it didn’t pile up, screaming: “NO ONE IS HERE!”
Those are all perfectly reasonable things to do.
But what if you were going to leave your home for months at a time? And what if your neighbors come and go so much that they can’t keep an eye out for you? Valid concerns.
The good news is we’ve got you covered!
Many of our Schooner Bay residents live here part-time or only visit a few times per year, and they never have to worry about whether their home is safe and cared-for while they’re away.
We can connect you with on-site management to look after your home while you're gone, as well as managing the entire process of renting it out for extra income if that's something you're interested in.
However, first we want to show you what to look for in a property management company.
You'll need to hire a foreign property management team that will rent out your property, pay the bills, and take care of incidental repairs. You should only hire a manager based on your individual needs.
Your manager will also secure the vacation property, find rental clients, and make sure that tenants are following the rules. They'll also collect rent and maintain your vacation home.
What type of manager do you need? We'll show you the difference between a rental manager and property manager and the duties they perform.
A rental manager is a professional responsible for renting out your property and keeping it occupied. They'll advertise your property. They'll conduct background screenings on new renters.
A property manager is an agent that handles operational-related issues for your property. They'll pay taxes and utilities. They'll also perform routine maintenance tasks.
The manager you select depends on your property needs. Many companies will offer to bundle foreign property management services. They'll maintain your vacation home, serving as your rental and property manager.
We do not recommend this. We recommend hiring separate individuals for each task. It will save you money in the long-term.
For example, you may want to locate your own renters through a vacation or rental website, like Airbnb. If you bundled your rental and property management team, you'd be stuck. The company would select renters for you. You'll also be required to pay additional fees.
In this case, you should have hired a property manager, not a rental manager, to save costs. If you need both managers, hire them, but do so separately. Only select the management team that will fulfill your needs.
"We remove all of the confusion and hassle around the process of generating rental income from your vacation home. Our rental program handles all of the details, so you can enjoy peace-of-mind when you are thousands of miles away." -Chris Williams, CEO of Legacy Global Development
Before hiring a management agency, research them online first. Make sure they're popular with expats in the area you live in, before hiring them. They should be highly rated by trusted locals.
Your management company should also specialize in renting to your ideal clientele.
If you're still searching for a foreign property, Legacy Global Development can also assist you. Learn more about our Rental Program here.