From experience we have found that the best way of running a rental home is often the simplest!
We will guide you through setting up all your utility payments such as 'power', 'cable TV' etc. to come directly out of your bank account on a Direct Debit. The statements for these bills will be sent to us. This way you are sure that the bills are paid as are we when we get the statements. These statements are kept in with all your home documents and will be ready for you when you are out on a visit.
The other way is Florida HomeOwners Direct pay your bills, but this involves you depositing an escrow with us of $1000.
Our services cover the following management areas and are paid monthly in US $:
|
Monthly Management Fee |
$100.00 |
|
Pool Service |
$80.00 |
|
Lawn Care |
$90.00 |
|
Pest Control |
$35.00 |
|
Total Monthly Fee |
$305.00 |
However, if your house is new and you intend to let the property for holiday rentals, start-up costs will need to be met to cover licenses, installing emergency lighting, additional smoke detectors and for utility deposits as required, etc.
These amounts are usually offset by rental income and the surplus will be paid to you as required.
All homeowners receive a monthly statement of account via e-mail.
TAXES
In addition to property taxes that every homeowner has to pay, a tax based on the gross rents received must be collected for any rentals of 180 days or less.
This tax is made up of: A 4 - 5%.
Tourist Development Tax A 6 - 7%
State of Florida Sales Tax.
Total:
10 - 12% of gross rentals. Normally these taxes are charged on top of the rents paid by the tenants - much the same as would take place in a hotel or motel. We collect these taxes and submit them to the appropriate agencies on a monthly basis in compliance with the law. We make sure your property is properly registered and we have all forms to hand to help you do so.
Florida Homeowners Direct LLC collects and pays all Sales Resort Tax on the rental income we generate from your property. It is the responsibility of the owner to declare the rental income achieved on Owner Bookings and to pay the relevant tourist tax, unless instructing us otherwise.
INSURANCE
All owners of rental properties must have a current homeowners' insurance policy in effect, a copy of which must be kept in Florida Homeowners Direct Property Management Office. It is recommended that $1 million of liability coverage be purchased along with the standard homeowners' policy. The costs depend on the size of home, location and the type of construction.
For a full colour brochure of property management services with Florida Homeowners Direct, please contact us.
Click Here to Email Us: info@floridaownersstore.com