What are your rates?

Vacation Rentals: 22% 

Long Term Rentals: 10% plus 50% of first months rent. 

Tenant Occupied: 10% plus 25% of first months rent. 

Mid Term Rentals: We can custom tailor plans for properties that rent long term during the slower months and short term during the peak season.

 

Do you have any hidden fees?

We have zero hidden fees. We do not charge for year end tax documents, yearly inspections, maintenance facilitation fees, etc. We believe in simple pricing and full transparency. 

 

How did you choose your rates?

We try and maintain very competitive rates even though we believe we provide unmatched quality and care for your property. Our owners are very involved and visit each property often. We truly treat each property as if it was our own, and our success shows. 

 

Where do the properties need to be located?

We service all of Escambia and Santa Rosa Counties. 

 

Do you require maintenance reserves?

We do not require any money up front. If and when maintenance issues come up, we deal with it and debit it from the next Owners Distribution. 

 

What are the startup costs?

We do things slightly different. We don't require anything upfront. We know it costs a lot of money to acquire these rentals and get them rent ready. So we have no upfront cost. We do however, have a few potential charges that would be debited on the first months Owners payout. 

1. Professional Photos. We require very good photos, and if you don't already have photos that we approve of, we require professional photos to be taken. This is incredibly important for the success of the property. We will arrange this and charge it back on your first statement. 

2. Wifi Lock that is compatible with our systems. We require a Schlage Encode to be installed as the main point of entry. If you don't already have one, we will arrange this and charge it back on your first statement. If we install one for you, it will become yours and stay with the property. 

3. Staging and Setup. Some properties come to us "rent ready," meaning there isn't much to do. If however, you need us to prep the unit or get it ready from start to finish, we can do that. There will be an hourly rate for this kind of work that will be discussed before hand. 

 

How will you keep me informed?

You will have your own Owners Portal that is live 24/7. You can see everything from future bookings to maintenance requests. This is also where your streamlined Owners Statement will be found. 

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Do I lose control of my property once we sign?

Absolutely not! This is your property and we respect that. We aren't the type of managers that don't want you to use the property, and all we care about is our bottom line. We are investors ourselves, and we understand your bottom line is what matters, not ours. We want you to make as much as possible, and use the property as much as you like at the same time. This is your investment, and we want YOU to be happy. That being said, we DO NOT cancel existing reservations for owner visits. So please block of your dates before it gets booked. 

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Can I reach you after hours?

Absolutely. Rental properties are active 24 hours a day, 7 days a week. A good property management company will be available the same hours. We will even answer the phone on Sunday (after church of course). 

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What do I need to do before we list?

The better condition your property is in, the better quality tenant we will attract for you. This means that the property should be clean, carpeting should be shampooed, walls should be painted (a neutral color is best) if they are dirty or marred, and things should be in good repair. It is best to have window coverings on the windows, such as blinds. Tenants are no different than you and I when we were looking to buy our houses - if it was clean and everything was working, it appeals to us more.Upon taking over management, we will go through your property and make note of the condition and what we would suggest being done. You would then instruct us what you want done.

 

How is maintenance handled?

We would have one of our in-house maintenance technicians or one of our sub-contractors handle the job depending on severity and availability. Anyone doing maintenance on your property is selectively screened and insured. Our workers are available for your property maintenance needs 24 hours a day and their work is guaranteed. We handle the nuisance calls at all hours of the day or night. So you don't have to deal with that call in the middle of the night.If we go out and find that the problem was tenant caused, the tenant will be billed and responsible for reimbursement of the charge. We look at your property as our own and are only doing necessary maintenance and repairs; however, if it exceeds our authorization limit as stated in our management agreement, you will be contacted.

 

When do I get paid?

 

For long term rentals, we issue payment as soon as we receive rent. We do not hold funds until the 15th or 30th like most companies do. 

For Short term rentals, we issue payment within the first few days of the month for the proceeding months bookings. 

 

Do you take professional photos?

GL will arrange for a professional photographer to create a photo gallery for the property to be used for online marketing and advertising purposes. The cost of this service will be billed to the Owner on the first month’s Owner’s statement. Photo sessions start at $125 and goes up depending on the property. If for any reason, the property undergoes upgrades and requires new photos, the Owner will be responsible for the cost of the new photography.

 

How are linens handled?

GL requires 2 sets of linens for each bed, and enough towels to accommodate the number of allowed guests so that there is a backup for each guest. This allows one clean set to be at the house and one dirty set at the cleaners.

 

What is the Management Agreement term length? Can I cancel?

Our term length is 12 months, however, our agreement is more for everyones understanding and expectations. Should you find yourself wanting to self manage, or you would like to move on from Gulf Legacy, we don't have a problem with that. We want our clients to be happy. We will do everything we can to make the hand off as seamless as possible. 

 

Keyless Locks

A keyless lock system, compatible with GL’s property management and security systems, will be installed on the property’s entry door. This provides secure and hassle-free remote entry for all guests. If the Owner already has a keyless lock which is compatible with GL’s system, it can be used pending GL’s review and approval. If the existing keyless lock doesn’t function properly, at GL’s sole discretion, it will be replaced at Owner’s expense as described above. The cost of the lock plus install will be billed to the Owner on the first month’s Owner’s statement. This cost starts at $350 and goes up depending on availability and door finishes.  At the end of the Term or renewal Term, the lock will stay with the property and becomes the property of the Owner. Any “lockable by key” door handle will need to be replaced and will be billed to the Owner.

 

Consumable Items

If the property is not already stocked ready for guests (soap, toilet paper, coffee, etc.), GL can acquire needed items at the maintenance fee rate for the initial stocking. GL will keep stocked during this agreement at Owner’s expense. The Owner’s closet will need to be stocked with all consumables, including air filters, light bulbs, batteries, toilet paper, soap, etc. at Owner’s expense.

 

Where do you list short term rentals?

Airbnb, VRBO, direct booking, Facebook and more. 

 

How do you decide on rates?

We watch markets and comparables daily. There are no Pricing Tools that are as accurate as hand drawn comparables and watching the markets.

 

Pest control?

Owner agrees to provide quarterly pest treatments for the Property. The treatments will be performed on a regularly scheduled basis and will include the use of safe and effective pest control products. The Owner agrees to promptly address any pest-related issues that may arise between regularly scheduled treatments, such as maintaining the cleanliness of the Property.

 

Hurricanes, Acts of God?

GL shall not be responsible to take any precautionary measures to avoid any damages from any acts of God including but not limited to floods, fires, tropical storms, hurricanes, tornados, sinkholes. Our insurance does not allow us to hang hurricane shutters or do hurricane prep due to liabilities. We recommend hiring a company that is always on standby or utilizing a family member nearby.

 

Are you insured?

Yes. We are a fully licensed and insured real estate brokerage.