POTENTIAL FOR EMPLOYMENT IN PROPERTY MANAGMENT
Dear Uncle,
I am 59 years old and have owned and managed rental property in Ohio for the last 20+ years. Here in Florida one must be licensed to manage condominiums and apartments. The cost is $179 for classes and about $175 for testing and licensing. What is your opinion of the potential for me to find employment in this field at a $40k plus annual salary + benefits?
Florida is a big state. In some quarters 40K is a comfortable living; in others, starvation wages. The most important consideration is not an arbitrary number but rather coordinating income and living expenses. Housing ranges from relatively low to very pricey. Income, in general, compares poorly to many parts of the country. Location is everything.
You may be putting the move before the job. Prior to any move, research the target area to a fault. Housing and living costs must make financial sense. Job opportunity must be realistic or, better yet, contracted. If you are selling an existing residence and enjoying a lump sum, you have greater range but the study should reflect all elements of income and expense. At least one full year of zero income should be considered a very real possibility.
Advice:
If you need income to provide your daily bread, get your resume out. Make calls to management companies. Check out the job-opportunities section of the local paper to get a feel for the targeted area. Avail yourself of all info from all sources defining the target.
Don't jump at a one-horse town. A location that has a general need for your services will leave you with other options if the first horse goes lame. Visit the area to be sure you will be comfortable. Renting modest quarters for a year gives you time to settle in and seek solid employment. If circumstances allow, dual residency for a test period makes sense. Life in Florida is in sharp contrast to Ohio. Climate, humidity, bugs, snakes and reptiles often send sun-seeking retirees back to Sandusky or points north.
Good luck,
Everybody's Uncle
