Major brokerage transfers ownership of rental division

Gulf Coast Property Management will assume responsibility of some 360 accounts.

By Business Observer Staff
| 7:20 a.m. February 18, 2019
| 2 Free Articles Remaining!

Andy Moore founded Gulf Coast Property Management in 2003.

Manatee-Sarasota

SARASOTA — Gulf Coast Property Management, a Lakewood Ranch based firm with some 1,000 rental properties in its portfolio, has assumed ownership of the rental leasing and management division of Michael Saunders & Co.

One of the largest brokerages on the west coast of Florida, Michael Saunders & Co. has 360 rental properties and responds to nearly 5,000 calls every month from current and prospective customers, according to a statement. Gulf Coast Property Management will take over all those accounts.

Terms of the deal weren’t disclosed.

The arrangement, according to the statement, was prompted by Michael Saunders & Co.’s aim to focus on its residential, commercial and new homes divisions. The brokerage will continue offering the specialized services at IMG Academy and its two Longboat Key timeshares, Veranda Beach Club and White Sands of Longboat Key.

“When Michael Saunders & Co. returned to the rental business in 2011, it was to address the needs of a recovering marketplace,” Founder and CEO Michael Saunders says in the release. “We know specialization and focus matter today and will be all the more important in the future. For that reason, we have determined it is now time to turn our lens and transition our rental operations to a company dedicated solely to leasing and property management.”

Gulf Coast Property Management has been operating in Manatee and Sarasota counties since 2003. Its full-service and comprehensive packages include marketing, rent collection and inspections, the release states.

“We were thrilled to be presented with the opportunity to assume Michael Saunders & Co.’s rental division and are confident this transfer of accounts will be beneficial for both the customers and the exceptional team of staff and agents,” says Andy Moore, founder and CEO of Gulf Coast Property Management, in the statement. “We share the same strong desire to provide best-in-class service and are looking forward to building upon MSC’s landlord and investor experience with new and innovative features.”