What To Understand As A Central Florida Property Owner
There is much more involved in property management to successfully rent out your home than merely putting out a “For Rent” sign in your yard and waiting for the perfect tenant to show up. There are legalities to consider, maintenance, repairs, costs to count and so much more. Get the most out of your rental properties and check out these tips.
1 – Understand Your Responsibilities as a Landlord
Did you know that in the state of Florida, tenants are actually protected by what is known as the Tenant Bill of Rights? There are also laws that regulate who you can rent to, how you can advertise your rental, which repairs need to be handled ASAP and what can wait—among a host of other things. Even in the best of circumstances, single-family home maintenance and upkeep can be expensive. When a stranger moves in, those costs and risks go up considerably. Are you prepared to do your homework and stay on top of those laws and regulations? Do you have the time and energy to make regular visits and property inspections? If not, you may want to rethink the DIY approach and instead hire professional property managers!
2 – Make Sure Your Home is Ready to Rent
In a competitive rental market, prospective tenants are looking to get the absolute biggest bank for their buck. They want houses that are updated, with large yards, great windows, fresh paint, new carpet, and shiny appliances. They expect rental homes to be clean and ready to move in. They also expect the yard to be mowed and manicured. This is the time to make the effort and investment to show your home in the best possible light.
3 – Setting the Right Rental Price
Most homeowners lose sleep over not charging enough rent for their home. They forget that there is such a thing as setting the rent too high. If you do this, the property will sit vacant for far too long, seriously jeopardizing a return on your investment. Every month a home isn’t rented, that’s money you’re not putting in your bank. Your success starts with setting the best rental price that will minimize vacancy time and maximize ROI.
Our 4-Page Rental Analysis Report will cover:
- Rent Price Estimate
- Other Comparable For-Rent Properties
- Local Rental Trends by Zip Code
Bonus Tip: DELEGATE IT! Hire Professional Orlando Property Managers
It doesn’t take very long for most DIY landlords to throw in the proverbial towel. After all, it turns out that there’s a lot of work associated with renting out your home. The good news is that you don’t have to do everything on your own. Property management companies are out there that can help eliminate many of the burdens and headaches. The best ones even do it affordably! Orlando property managers can help you tremendously, here is a list of things you can mark off yours and go have fun with friends and family instead:
- marketing your property
- finding tenants
- tenant screenings
- rent assessment
- full legal compliance
- pet screenings
- professional move in/move out inspections
- property maintenance
- rent collection
- 24 hour, 7 days a week property management services
- and much more
The Realty Medics – Highest Rated Orlando Property Management Company
Professional Property Management for Your Home
- Fast 14 Day Leasing Program
- 90 Day Money Back Guarantee
- 6 Month Tenant Guarantee
- 1,000+ Central Florida properties under management
- Advanced technology led by former NASA engineer
- Responsive customer service from our First Responders
- Maximum ROI + minimum hassle = Property Management Peace of Mind
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