Vacant rental property in Orlando can quickly become a financial drain on the owner. If a property isn’t making money, it’s burning it. Even without a mortgage, leaving a house vacant opens up the potential for problems. That’s why it’s so important to get a rental home ready and the right tenants placed quickly. Having a property manager can minimize downtime because property managers fill vacant rental property ASAP.
A Property Manager’s Role in a Vacant Rental Property
Having a property manager for your rental property takes the responsibility off you to advertise the rental, vet applicants, and handle lease agreements and the move-in processes.
Plus, once the tenants are in, they handle the day-to-day tasks, including monthly rent collection, maintenance and repair requests, and move-out processing.
Early Steps
Even before a central Florida property gets listed for rent, property managers are hard at work to find the best tenants. Once an agreement is signed with the owner, an onboarding manager is assigned to the property to coordinate the process. The owner hands over the keys and the property manager schedules a property inspection.
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Why Rental Inspections Matter
During a home inspection, the team will take hundreds of time-stamped photos to document the condition of the property. If they find anything out of compliance with local codes, they’ll prepare repair bids and schedule vendors to complete work. They’ll also recommend any upgrades that will attract the best tenants.
Once the home is rent ready, they’ll have professional listing photos taken. The leasing team will then prepare the listing and post the property on more than 100 third-party rental sites. And when the property garners interest, the property management company takes care of showings.
Finding the Right Tenants
The leasing team will monitor listing traffic and the number of applicants and showings, discussing any price adjustment with the owner as needed.
As applications come in for the rental, the leasing team does a deep dive into the potential tenants. They look at credit reports, nationwide criminal and residential histories, sex offender lists, and references.
The team will also review income documentation, credit scores, social media, and employment history. They’ll also review previous landlord feedback. All screenings are based on facts not opinions while following all Florida Landlord Tenant Law and the federal Fair Housing Act.
Come on In
Once an applicant is selected and approved, things move quickly. The leasing team collects their security deposit and first month’s rent. They ensure all utilities are set up in the tenant’s name. From there, the tenants move in and the leasing team designates a property manager to oversee the rental home.
If you own a rental property in the greater Central Florida area, partner with our expert Orlando property management team. Learn how The Realty Medics give their clients property peace of mind. Call 321-947-7653 or complete our online form to learn more.
