Updated almost 5 years ago on . Most recent reply
Buying a property that is currently ran by property mgmt
Hi All,
I'm looking for input from those of you out there that have bought a property that was being ran by a property mgmt company. I am currently in the midst of buying a vacation rental in Ft. Myers Beach, FL. The property is currently being rented through a company. I plan on managing it myself once I close. I live in MI, but have a "circle" down in FL that will help me. The problem is there are several reservations in place, part of my PA from the current owners was that I was to keep those reservations. That was perfect for me because I planned on using it as a weekly rental at the time and for the first year using the mgmt that was in place. This changed once I saw the fees that the company was going to charge.
As we are getting closer to closing, the management company is not getting back with me nor my realtor as to how these reservation and their payouts will transfer over to me. If any of you have ever dealt with this type of situation and have any advice on how to transition, please advise me!
I'm looking for input from those of you out there that have bought a property that was being ran by a property mgmt company. I am currently in the midst of buying a vacation rental in Ft. Myers Beach, FL. The property is currently being rented through a company. I plan on managing it myself once I close. I live in MI, but have a "circle" down in FL that will help me. The problem is there are several reservations in place, part of my PA from the current owners was that I was to keep those reservations. That was perfect for me because I planned on using it as a weekly rental at the time and for the first year using the mgmt that was in place. This changed once I saw the fees that the company was going to charge.
As we are getting closer to closing, the management company is not getting back with me nor my realtor as to how these reservation and their payouts will transfer over to me. If any of you have ever dealt with this type of situation and have any advice on how to transition, please advise me!