How to protect your retirement rental property

2009 May 10

by Daytonadiva

With the economy in such a precarious position, so many baby boomers are postponing retirement. Many northerners who have already bought their dream home in desirable Florida locations such as Daytona Beach, Ponce Inlet, New Smyrna Beach, Ormond Beach and Port Orange are now realizing they will need to work a little longer. Moving into that waterfront villa or condo on the beach will just have to wait.

Owning and maintaining two homes is beyond the budget of most of us. The expense and anxiety associated with having a real estate investment in a community far from your primary home can be overwhelming. Given the current circumstances, local realtors like Waverly Property Group now find that their property management services and vacation rental offerings are much in demand. By reviewing online testimonials, examining property rental listings and consulting with experts like Ramara Garrett, owner/broker of Waverly Property Group, out-of-state owners will be able to protect their retirement property and receive considerable rental income that should cover most expenses.

Before arrangements can be made, homeowners must decide if they want to rent out their property for the long term or just for vacation rentals a few months each year. Most long-term rental real estate is unfurnished; vacation rentals must come with everything from tables and lamps to TVs and linens. Since those basics and extras don’t last forever, the owner must figure in the wear-and-tear and periodic upgrading costs to keep their vacation rental house or condo on a par with the competition.

The best way to safeguard your dream home is to enlist the services of a property management group such as Waverly. Waverly Property Group’s management experts know that pitfalls and broken promises can result in complaints. If you have an imported chandelier that is a family heirloom and a professional stove that was custom made for your Daytona Beach Shores kitchen, you don’t want some unscrupulous tenant or vacationer to take off with your treasures in the middle of the night. By agreeing to have an experienced and reputable property management group handle your rental home, headaches, heartaches and everyday complaints can be avoided.

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