Property management is an area that concern most first time investors and can be the most frustrating if you chose the wrong option.

Management type.

This will depend on your reason for purchasing the property, whether for investment or for personal use. Again, as with all other areas of this process, discussion of your options and learning from the experience of others, both good and bad, provides you with a greater chance of getting it right first time.

The property you purshase may have a variety of management facilities available depending on whether it is an apart hotel, hotel, residential complex, or private villa. You must choose either to contract this out or do it yourself.The following options may be concidered:

a. Longterm rental.  by season; annual; 2,3,5, year guaranteed rental contracts. These tend to produce a lower weekly rental return however because or their longer term nature the total annual return is higher and reduces the amount of time you need to allocate to managing your investment.

b. Seasonal lets. 3 to 4 month lets over the winter period may again reduce the weekly income but can boost the overal annual return allowing your property to remain occupied over this quieter period.

c. Family lets. short term holiday letting to your family and friends. this may or may not be financially rewarding but you need to make a decision early on as to your stance in this area as once set it is often hard to change.