South Florida is one of the hottest real estate markets in the country if not the world. The three county area of Miami Dade county, Broward county and Palm Beach County offer a solid job market, beaches, tourism and much more. We draw in visitors from around the world that are interested in real estate. People from all over the world are drawn to this area to vacation and many end of leaving with second homes or investment properties. The east coast of the United States often brings visitors during the winter months to avoid the nasty weather up north and we get visitors from the southern states just to visit the beaches. Our favorite visitors from Canada mostly come during the winter as well to avoid the snow. We also have tourists from Europe, Central America and South America who all love spending time in South Florida. We use South Florida as just an example because there are plenty of warm places with beaches that have visitors from all over the world. Any of these type places such as California, Mexico, Hawaii, Caribbean, Costa Rica, Thailand, Australia will have millions of visitors that will often consider a second home or a vacation retreat.
These second homes still require maintenance, upkeep and management. Clients from around the world often have properties that they like to keep for enjoyment as well as tax purposes and do not have the time, energy or inclination to spend it on a second or third property. A majority of our clients utilize supplementary homes as a means of a tax right off and they include all of the expenses that come along with the additional property such as management fees.
The point is the market in desirable neighborhoods are global workplaces. The property owners must find a professional and reliable property manager to take good care of their property so they can go off and enjoy their time. These investments require time, energy and upkeep that is simply not going to get done when they are away. For a small fee real estate management teams take the burden off the homeowner and allow them to enjoy their life while still getting the benefit of a place to vacation whenever they want and the financial benefits. The second home provides capital appreciation, potential mortgage expense right off, housing expenses to write off and the possibility of rental income. The right combination of investment with proper management equals a great return on ones capital.
