MANAGEMENT FAQ
FREQUENTLY ASKED QUESTIONS
Q: WHO IS HCS?
A: Hotel Condo Services, LLC, (HCS) is a company made up of several managers and an area manager from Dimension Development, the company that had operated the property for over 14 years. The members of HCS's management team have all been involved in the operation of the property for the last 3 years.
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Q: HOW MUCH IS YOUR MANAGEMENT FEE?
A: Fees vary based upon the size of the property.
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Q: WHAT DOES THE MANAGEMENT FEE INCLUDE?
A: All of the following:
- Arrange for home to comply with all state requirements to enable unit to be licensed for short term rental program
- License applications and renewals
- Advertise, listing and promotion of unit
- Managing reservations
- Managing Housekeeping services
- Provide a full "Guest service program"
- Administer payment of owner's bills in connection with HOA
- Monthly and Annual statements
- Oversee maintenance of unit
- Owner link
- Submit County and State sales tax monthly to tax collector
- Monthly general inspection of the unit
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Q: HOW SOON CAN MY PROPERTY BE RENTED TO FIRST GUESTS?
A: HCS projects a period from 1 - 2 weeks from time when the agreement was signed. We need to make sure that the unit is inspected, fully furnished, all license applications are being processed and unit is 100% ready for first guests to rent.
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Q: IS IT TRUE THAT MY UNIT WILL BE LICENSED AS A HOTEL?
A: Any individual or company renting accommodations for less than 180 days or less shall be required to register with state departments. One of them is the Division of Hotels and Restaurants who will inspect your unit and approve for short-term rental program.
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Q: HOW AND BY WHOM ARE RENTAL RATES SET?
A: Rental rates are set by shopping our competition both regionally and nationally, and setting rates appropriately in order to remain competitive. Rates may differ depending on the location and season.
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Q: HOW MUCH IS RESORT TAX AND WHO IS RESPONSIBLE TO PAY AND COLLECT THIS TAX?
A: Osceola County resort tax is 13.0% (consisting of 6.5% state sales tax and 6.5% tourist development tax). This tax is charged on top of the rental and paid by tenants, much the same as would take place with a hotel or motel. We do collect these taxes and submit them to appropriate agencies on a monthly basis in compliance with the law.
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Q: WHAT IS THE SECURITY DEPOSIT ACCOUNT AND WHAT IS THE MINIMUM DEPOSIT?
A: The Security Deposit is an operational account that needs to be maintained at all times with the Property Manager, in minimum balance of $500.00. This is a client escrow, and by Florida Law, has to be maintained in a credit balance. We can not use the funds in this account for anything other than expenses for your unit.
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Q: HOW CAN YOU HELP ME WITH ADMINISTRATION AND ACCOUNTING?
A: Hotel Condo Services provides the owner with monthly accounting statements, showing income and expense, relating to their property in accordance with Property Management Agreement Expenditures (service charges, utilities, management fees and any miscellaneous charges). This is used at year-end to provide you and your accountant with an accurate record of your operating expense.
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Q: HOW OFTEN CAN I USE MY UNIT?
A: Owners may occupy their unit as much and whenever they desire, subject to availability.
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Q: DOES PROPERTY MANAGEMENT CHARGE A RENTAL FEE TO THE OWNERS OR GUESTS OF THE OWNER FOR OCCUPYING THE UNIT?
A: If the owner or owner's guest stay in the unit, there is no rental fee charged. However there is a charge of $20.00 per night for housekeeping.
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Q: ARE ALL RESORT AMENITIES AVAILABLE TO MY GUESTS?
A: Your guest is certainly welcome to use all resort and clubhouse amenities between 8 a.m. and 11 p.m., 7 days a week, while on vacation.
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Q: CAN YOU PROVIDE OWNERS WITH RATES AND OCCUPANCY PROJECTIONS FOR THE PROPERTY THEY ARE CONSIDERING?
A: This has been one of our most frequently asked questions! This is also the most difficult to predict. We cannot guarantee or correctly predict occupancy. The economy, the weather, world conditions and many other factors play important roles. How often you use your unit yourself for your family and friends and at what time of the year is another important factor. Given the ideal circumstances, our experience has been that we achieve highest occupancy during winter and summer months. During the "slower" spring and fall months, we offer specials and discounts in an attempt to remain competitive with all other rental accommodations.
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Q: HOW WILL YOU ENSURE THAT MY PROPERTY IS BEING WELL MAINTAINED?
A: Hotel Condo Services prides itself on providing the very best care for our owners' properties. Unlike most management companies, we inspect every home that we take on and provide regular service to ensure that your investment is protected. We also monitor all properties and, with the owner's permission, perform emergency and maintenance repairs to your property to keep it in peak condition for guests.
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Q: WHAT ARE THE REQUIREMENTS CONCERNING THE FURNISHING OF MY PROPERTY?
A: For the units to be placed in the rental program, it is necessary that the furnishings and housewares meet specific standards of quality and quantity. Adherence to these standards helps ensure that our rental properties meet guests' expectations.
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