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When to List Your Long-Term Rental with RE/MAX Heritage for the Best Results

When to List Your Long-Term Rental with RE/MAX Heritage for the Best Results

When to List Your Long-Term Rental with RE/MAX Heritage for the Best Results

Located in the vibrant Four Corners area near Orlando, REMAX Heritage understands that advice on the best times to buy or sell property is readily available. But what if your goal isn’t to sell? What if you’re looking to rent out your single-family home or an apartment within your complex? Knowing the optimal time to list your rental property can significantly enhance your chances of finding tenants.

Why Spring Is the Optimal Time to List Your Rental

Spring emerges as the prime season to market your rental property for several compelling reasons, paralleling some of the logic behind property sales:

1) Aligning with the School Calendar: Families prefer moving during the summer to avoid disrupting the school year. Listing in spring caters to these potential tenants, helping them plan their relocation right after the school term ends.

2) Advantageous Weather: Generally, more people are inclined to move during spring and summer, favored by milder weather. This makes not only property viewing but also the physical move smoother and more pleasant.

3) Enhanced Property Aesthetics: Properties tend to showcase their best look in spring, with blooming flowers, lush greenery, and vibrant landscapes. Enhancing your property’s curb appeal with fresh landscaping or colorful planters can make a significant difference.

4) Financial Boost from Tax Refunds: The influx of tax refunds during spring provides many renters with extra funds, which they might use for moving expenses, making it a financially opportune time to seek new living arrangements.

While spring stands out as the ideal time to list, REMAX Heritage offers strategies to effectively market your rental during other seasons:

Seasonal Rental Listing Tips

  • Summer: Highlight features like pools, air conditioning, and proximity to outdoor activities. Be ready to inform about local school timelines, reassuring families they can settle before the academic year starts.
  • Fall: Utilize autumnal decor to create a cozy, inviting atmosphere. Emphasize the natural scenery and plant seasonal blooms like chrysanthemums to maintain an appealing exterior.
  • Winter: Ensure your property feels warm and welcoming. Preheat the space before showings, utilize seasonal scents, and maximize natural lighting to counteract the shorter days.

By adapting your strategy to each season, you can attract tenants year-round, maintaining a successful rental venture even during traditionally slower months.

Exploring Opportunities in the Off-Season

What strategies do you consider effective for listing your rental property outside the peak season? At REMAX Heritage, we’re always looking for innovative ideas to serve our clients better and keep occupancy rates high throughout the year.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Discover expert tips for successfully leasing your property in Orlando, Florida

Discover expert tips for successfully leasing your property in Orlando, Florida

Discover expert tips for successfully leasing your property in Orlando, Florida

Security deposits can sometimes be a controversial topic, but they’re necessary for keeping a property in tip-top shape. Security deposits are enforced for residents in order to protect the space, while also giving you some motivation to keep your residence in good condition. It’s never fun paying a fee upfront for damage that hasn’t happened, but receiving the money back after a harmless stay is encouraging! As a property management company in Orlando Florida, we want to give you your money back at the end of your lease. With these expert tips, you can avoid damage and have a good chance of recouping the fee you paid upfront.

Read Your Lease Thoroughly reviewing your lease is a great starting point.

Your lease should have clear information on the expectations in place to receive your security deposit back. It could be helpful to make a checklist and hang it on your fridge, so, throughout your residence, you remember what needs to be done in order to regain your deposit.

Document Your Space Be sure to take photos and videos of everything.

This content should include date and timestamps. Having physical proof of your space being neat and undamaged will only benefit you. If you notice something is damaged upfront, be sure to alert your landlord so you aren’t charged for those damages.

Clean Up

A deep, thorough cleaning of your space before you move out will give you a good chance of recouping your deposit. Be sure to wipe down inside the refrigerator and oven, as those two spaces are typically forgotten. Other than that, general dusting, mopping, nail hole patching, and vacuuming will ensure your home is in good shape.

Repair Damage Sometimes, things happen that are out of our control.

If you have any damage at all, make sure to repair it before you move out. Work with your landlord to determine if on-site maintenance staff can fix the damage or if an outside vendor needs to take on the job. It’s always best to fix the damage immediately instead of waiting until your move-out date!

Security deposits are set in place to protect properties from long-term damage.

By following these expert tips, your odds of receiving your deposit are high. At RE/MAX Heritage, our top priority is to keep clients satisfied with their place of residence. Ready to take the next step towards owning your own home in Orlando, Florida? click HERE to get started on your home search! Contact RE/MAX Heritage today to begin your journey to finding your dream home. Let us guide you through the process and make your homeownership dreams a reality!

Landlords, are you looking for a property management company in Orlando, Florida?

Consider the advantages of partnering with RE/MAX Heritage as your property management company. Our experienced team handles everything from tenant screening and lease agreements to property maintenance and rent collection, allowing you to enjoy a hassle-free landlord experience. With our expertise, you can rest assured that your properties are well-maintained and your tenants are satisfied, maximizing your investment returns while minimizing your stress. Trust RE/MAX Heritage to professionally manage your properties and help you achieve your real estate investment goals.

Our Property Manager- Lucy Hinson

Lucy Hinson is a seasoned property manager with over 12 years of experience, currently excelling in her role at RE/MAX Heritage. Her expertise spans tenant relations, lease negotiations, property maintenance, and financial management, all underpinned by a commitment to client satisfaction. Known for her proactive approach and attention to detail, Lucy is trusted by clients and colleagues alike to deliver optimal results in real estate investments. Outside of work, she enjoys family time, travel, and community engagement. With a passion for her craft and a proven track record, Lucy continues to make a significant impact in property management.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Why Kissimmee?

Why Kissimmee?

Why Kissimmee?

Kissimmee, FL

 

Location and Geography: Kissimmee, Florida, is a city located in Osceola County in the central part of the state. It is situated in the central region of the Florida Peninsula, approximately 18 miles (29 kilometers) south of downtown Orlando. Kissimmee’s geographical location in Central Florida places it in close proximity to popular tourist destinations like Walt Disney World Resort, Universal Orlando Resort, and SeaWorld Orlando. This has contributed to Kissimmee’s role as a hub for visitors exploring the region’s theme parks and attractions. Additionally, its location near various lakes and outdoor recreational areas makes it an appealing destination for those who enjoy outdoor activities and natural beauty.

Housing Market: The Kissimmee housing market, like many areas in Florida, has experienced strong demand in recent years. This demand is driven by factors such as population growth, job opportunities, and the area’s appeal to both residents and investors. 

Communte and Transportation: Kissimmee, Florida, is well-connected in terms of transportation and offers various options for commuting within the city and to nearby areas. The city has a well-developed road infrastructure, with major highways including Interstate 4 (I-4) and the Florida Turnpike passing through or near the city. These highways provide convenient access to neighboring areas, including Orlando. The city operates a public bus service known as “LYNX,” which connects Kissimmee to various parts of Osceola County and the greater Orlando area. LYNX also offers several routes within the city itself.

Community and Lifestyle: Kissimmee is a melting pot of cultures, with a diverse population that includes residents from various ethnic backgrounds. This diversity is reflected in the city’s restaurants, festivals, and cultural events, making it a rich and inclusive community. Kissimmee is known for its family-friendly environment. The city offers excellent schools, safe neighborhoods, and numerous recreational activities suitable for families. Many neighborhoods have parks, playgrounds, and community centers. Whether you’re raising a family, retiring, or simply seeking an active and diverse community, Kissimmee offers a lifestyle that caters to a wide range of interests and preferences.

Ready to make a Move?

Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

 

Get to know more about The Four Corners area

Get to know more about The Four Corners area

Get to know more about The Four Corners area

Why move to the Four corners area 

 

Lake County

Location and Geography: Understand the town’s location, geography, and surroundings. Consider factors like proximity to major cities, access to natural amenities (e.g., mountains, beaches), and the local climate.

Housing Market: Investigate the town’s housing market, including rental and purchase prices. Determine the type of housing that suits your needs and budget. Check out properties for sell in the area  Resale Properties New construction 

Commute and Transportation: Calculate your daily commute time and transportation options. Determine if public transportation, walking, or biking is feasible, and assess the town’s traffic patterns

Community and Lifestyle: Explore the town’s culture, lifestyle, and community. Consider your interests, hobbies, and how well they align with what the town offers. Check out our Blog for future events 

Orange County

Location and Geography: The county seat is Orlando, which is also the largest city in Orange County. The county is known for its vibrant tourism industry, with popular attractions such as Walt Disney World, Universal Orlando Resort, and SeaWorld Orlando. Orange County is also home to a diverse population and offers a range of cultural, recreational, and educational opportunities.

Housing Market: It is a desirable location due to its proximity to popular attractions  and a range of amenities. These factors have contributed to a steady demand for housing in the area.

Commute and Transportation: Orange County has an extensive network of roads and highways, including Interstate 4 (I-4) and the Florida Turnpike, which provide convenient access to different parts of the county and beyond. Lynx is the public transportation system serving Orange County. It operates a network of buses that cover a wide range of routes throughout the county, including express routes to downtown Orlando. Lynx also offers a paratransit service for individuals with disabilities.

Community and Lifestyle: Orange County offers a vibrant community and a diverse lifestyle. The county is known for its warm climate, beautiful beaches, and numerous recreational opportunities such as a variety of outdoor activities, including water sports, golfing, hiking, and biking. Residents can enjoy exploring the county’s many parks, nature preserves, and lakes. Orange County is famous for its world-class theme parks, including Walt Disney World, Universal Orlando Resort, and SeaWorld Orlando. These attractions draw visitors from around the globe and provide residents with endless entertainment options.

Osceola County

Location and Geography:  Osceola County is characterized by a mix of urban and rural areas. It is part of the greater Orlando metropolitan area and is known for its proximity to popular tourist destinations. The county is bordered by Lake Tohopekaliga to the west and the Kissimmee River to the east. It also encompasses parts of the Kissimmee Chain of Lakes, which offers recreational opportunities for boating and fishing. Osceola County has a diverse landscape, including wetlands, forests, and agricultural areas. The county’s location in Central Florida provides a subtropical climate, with hot and humid summers and mild winters.

Housing Market: Osceola county offers a range of housing options, including single-family homes, townhouses, and condominiums. The prices and availability of properties can vary depending on factors such as location, size, and amenities. Osceola County has experienced significant growth in recent years, driven by factors such as its proximity to popular tourist destinations like Walt Disney World and Universal Orlando Resort, as well as its strong job market. This growth has led to increased demand for housing in the area. 

Commute and Transporation: Major highways that pass through or near Osceola County include Interstate 4 (I-4), which runs east-west and connects the county to Orlando and Tampa. State Road 417 (Central Florida GreeneWay) is a toll road that provides a convenient route for traveling north-south through the county. State Road 192 (Irlo Bronson Memorial Highway) is another major road that runs east-west and is known for its commercial areas and access to popular tourist destinations.

Community and Lifestyle: Osceola County offers a range of recreational activities and amenities. It is known for its natural beauty, with numerous lakes, parks, and outdoor spaces for residents to enjoy. The county also has a strong focus on sports and recreation, with facilities for golf, tennis, soccer, and more. Additionally, the county has a strong sense of community with various events, festivals, and cultural celebrations throughout the year. The local school system strives to provide quality education, and there are also higher education institutions in the area.

Polk County

Location and Geography: It encompasses a mix of urban areas, suburban communities, and rural regions. The county is known for its numerous lakes, with over 550 lakes dotting its landscape. The largest lake in Polk County is Lake Kissimmee. The county’s terrain features a combination of flatlands, rolling hills, and wetlands. Polk County is also home to various natural attractions, including state parks, wildlife preserves, and recreational areas. It offers opportunities for outdoor activities such as boating, fishing, hiking, and wildlife observation.

Housing Market: Polk County has had a diverse and competitive housing market. It is located in central Florida and offers a mix of urban and suburban areas. The county is known for its affordability compared to some neighboring counties, which can make it an attractive option for homebuyers.Factors such as population growth, economic conditions, and local amenities can influence the housing market in Polk County.

Commute and Transportation: Polk County is well-connected by a network of major highways, including Interstate 4 (I-4) that runs east-west through the county. Other important roadways include US Highway 27, US Highway 98, and State Road 60. Polk County offers public transportation services through the Citrus Connection. This includes fixed-route bus services that operate throughout the county, connecting various cities and communities. 

Community and Lifestyle: The county is home to several cities and towns, including Lakeland, Winter Haven, and Haines City, each with its own unique charm and amenities. The county also hosts various cultural events, festivals, and community gatherings throughout the year. Education is a priority in Polk County, with a number of public and private schools serving the community. The county is also home to several higher education institutions, including Polk State College.

    Ready to make a Move?

    Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

     

    10 Tips For Selecting the Best Property Manager

    10 Tips For Selecting the Best Property Manager

    10 Tips For Selecting the Best Property Manager

    10 Tips For Selecting the Best Property Manager

     

    Owning rental property can be a pretty cool opportunity for savvy investors, but it also means taking on the landlord gig. Some folks love the challenge, but let’s be real, managing tenants isn’t everyone’s cup of tea. If you’re not up for it, no worries! You can always think about hiring a property manager to handle the nitty-gritty. A good one will keep your tenants happy, handle the cash flow like a pro, and make sure your property stays in top-notch condition. But beware, a bad property manager can really mess things up, wasting your time and money. They might bungle inspections, let rent go unpaid, and tank your retention rates.

    So, how do you find the right manager for your properties? No worries, we got you covered with our top 10 tips to score the best property manager around. Keep reading and take the stress out of managing your rental business!

    What is a Property Manager?

    Before you make your choice, it’s essential to know what a property manager actually does. These guys can be either individuals or firms who handle the day-to-day rental stuff for a fee. Basically, they step in when the owner can’t or just doesn’t want to deal with landlord duties. Some of their responsibilities include: 

    • Targeted Marketing
    • Applicant Screening
    • Legal Leasing Documents
    • Property Inspections
    • Rent Collection
    • Basic Accounting and Reports
    • Maintenance Coordination
    • Tenant Communications
    • Fair Housing and Legal Compliance

    10 Tips for Selecting the Best Property Manager

    Getting the right property manager on board can really elevate your investment game. But let’s face it, rental management is no walk in the park. Dealing with legal stuff, communicating with tenants, and safeguarding your property takes serious effort. The rental industry is booming, and with that, property management firms are cropping up left and right. But hold up, not all of them are top-notch. To discover the perfect fit for your needs, take a look at these tips on finding the best property manager below. Happy hunting!

    1. Do Your Research
    2. Stick with Local Expertise
    3. Prioritize Organization and Technology
    4. Interview Multiple Candidates
    5. Test Candidates with Very Specific Questions
    6. Get Referrals from Other Investors
    7. Review Local Ads
    8. Look for a Proven Track Record
    9. Only Entertain Licensed Property Managers
    10. Personal Impressions Matter

    Do Your Research to Select the Best Property Manager

    Thanks to modern technology, owners seeking professional property management now have a wealth of information at their fingertips. The easiest way to kick off your search is with a simple Google query. It will help you filter through the options and zero in on the property management companies that might suit your needs. Once you’ve got your shortlist, dive into each company’s website for these crucial pieces of information:

    • List of Services (tenant screening, rent collection, etc.)
    • Management Fees, Fee Schedule, and any Ala Carte Services/Fees
    • Staff and Leadership Information
    • Special Features for Owners and Tenants
    • Contact Information
    • Client Testimonials
    • Tenant Reviews

    Stick with Local Expertise

    When it comes to nailing property management, having a solid grasp of the local market is crucial. But we’re not just talking about checking out the competition and setting prices. The top-notch property managers boast proven local experience, which includes:

    • Applicable Laws and Licensing Requirements In every jurisdiction, there are specific laws that oversee rental properties. These might cover things like rental licensing, inspections, or lead certification, among other requirements.
    • Market Demographics To efficiently fill vacancies, it’s essential to know your tenant pool inside out. Are you in an area popular among students, or is it more likely to attract families? Understanding the demographics of potential tenants allows managers to target their marketing efforts strategically, ensuring maximum exposure for the property.
    • Vendor Relationships In the world of rentals, repairs and maintenance are inevitable at some point. That’s why it’s crucial to team up with a property manager who has solid vendor relationships in place. This ensures that your property gets the attention it needs promptly, without any unnecessary delays.

    Prioritize Organization and Technology

    Being a property manager means handling a ton of communication and record-keeping. That’s why it’s crucial to pick a property manager who’s equipped with the right processes and technology to handle the administrative demands smoothly. The best ones are super organized, efficient, and prefer using electronic or “paperless” systems. It’s not just about being tech-savvy, but also about ensuring security and accuracy. So, owners can breathe easy when they find a company that stays up-to-date with technology. It’s a massive plus!

    Interview Multiple Candidates

    Aside from reviewing their website, asking some questions is equally important. When searching for the best property manager, gathering as much information as possible is the key. After all, you want to find a property manager you feel comfortable entrusting your business with. Take the initiative to reach out to the companies you consider as potential contenders and ask them the following questions:

    • How long have you been in business?
    • Will the company allow you to review key documents such as the Property Management Agreement and lease?
    • How many employees does the company have?
    • What is or is not included in the monthly management fee?
    • Is the management fee based on rent collected or rent due?
    • How many properties does each manager typically oversee at a time?
    • What are the standard applicant requirements and basic screening process?
    • How do you perform property inspections?
    • What are your practices for returning security deposits?
    • Do you have an online portal for tenants and owners?
    • Do I receive monthly and annual financial statements?

    Asking these questions to a few different candidates will give you a better sense of who would be the ideal property manager for you. Keep an eye on how responsive they are to your inquiries during this process. If they don’t prioritize your questions as a prospective client, chances are their service might not be the best if you become their client. Responsiveness is a good indicator of how they value their customers, so pay attention to it while making your decision.

    Test Candidates with Very Specific Questions

    The perfect property manager is someone with the right balance of flexibility and experience to handle a wide array of property issues. To evaluate candidates, ask them specific questions that gauge their skill set. Some talking points to consider may include:

    • The process for after-hours emergencies
    • Marketing strategies to limit vacancy
    • How they would deal with sudden or severe property damage
    • What would happen if a tenant needs to be evicted

    Get Referrals from Other Investors

    The best property managers are often those referred by friends and colleagues. Don’t hesitate to ask anyone you know in the real estate or property management industry if they can recommend a good fit for you. Word of mouth remains a powerful way to find a quality management company. If a property management company has a bad reputation, chances are it will spread among industry professionals.

    In addition to seeking referrals, it’s essential to do your homework. Check with your state’s Real Estate Commission and the Better Business Bureau to ensure that the prospective property manager is licensed and has no complaints against them. This way, you can make a well-informed decision and find a reliable manager for your property.

    Review Local Ads

    A lot of local property managers rely on local advertisements to promote their vacancies. To find sample rental ads, you can explore newspapers, online classifieds, and websites like Craigslist. Reputable companies usually have a website that lists their available properties, which offers an excellent chance to assess the quality of their rental ads.

    The top-notch rental ads are featured on various platforms to get maximum exposure and often include:

    • A Dynamic Unit Description The perfect unit descriptions strike a balance between accurate representation and captivating details that catch the reader’s eye. Be cautious of any descriptions with grammatical errors or excessive exaggeration that seems unrealistic, as these could be red flags to watch out for.
    • Professional Quality Photos In the world of property listings, pictures are worth a thousand words. As prospective tenants scroll through various listings, grabbing their attention becomes crucial. High-quality pictures have the power to entice viewers to click on the listing and spark their curiosity to learn more.
    • The Option for Virtual Tours Virtual tours have become increasingly popular during the COVID-19 pandemic, but their benefits go way beyond just coping with lockdown restrictions. These tours offer applicants the opportunity to explore the property’s full potential from anywhere and at any time, all conveniently online. It’s a game-changer that allows for a seamless and flexible viewing experience.

    Look for a Proven Track Record

    Empty units can seriously dent owners’ profits and miss out on potential opportunities. To avoid this, seek a property management firm with a solid track record. While it’s essential to consider the average time it takes for a company to fill a unit, remember that speedy filling is only beneficial if the tenants are well-qualified and stable. To get a clearer picture, don’t hesitate to inquire about the company’s eviction rate in addition to their vacancy-filling speed. This will help you make a more informed decision about the reliability of their tenant selection process.

    Only Entertain Licensed Property Managers

    In the majority of states, property management companies are required to hold a real estate broker’s license or management license. Licensed property managers have completed an approved property management course and successfully passed a state licensing exam. This extra layer of knowledge equips them to assist owners in navigating their business needs more effectively. It’s a reassuring factor for owners to know they’re working with professionals who have met the necessary qualifications.

    Personal Impressions Matter

    In addition to experience and management approach, establishing a strong professional rapport is crucial for a successful partnership. Take the time to get to know potential managers on a personal level by asking about their lives, interests, and any other details that may influence how they approach their job. Since owners and managers work closely together, effective communication and collaboration are essential. If your communication styles don’t align, there’s a risk of not being on the same page when it comes to important matters. Building a good working relationship ensures smoother interactions and a more harmonious management experience.

    Looking for rental services in Orlando – we can help.

    We work with our Owners and tenants as individuals and never under estimate what it takes to keep you happy with your choice of Management Company.

    By doing our due diligence with our clients, tenants, and vendors we create a service that exceeds expectations and generates positive referrals. Click HERE to learn more and how one of our property management professionals can help you!

    Ready to make a Move?

    Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.

     

    Renting Out a House With a Mortgage

    Renting Out a House With a Mortgage

    Renting Out a House With a Mortgage

    Renting Out a House With a Mortgage

    Investing in a rental property presents an excellent opportunity for creating passive income, especially when you possess a property that you’re ready to lease out. However, if the property currently carries a mortgage that you are paying off, you might be curious about the feasibility of renting it out without breaching the terms of your mortgage agreement.

    In general, the answer is affirmative; however, it’s essential to take specific factors into account. Continue reading to discover what those considerations are and explore the tools available to assist you in efficiently managing your rental property like an expert.

    Can You Rent Out a House With a Mortgage?

    The majority of mortgage agreements contain a section outlining the necessary steps to take before renting out your home. Consequently, whether you can rent out your house or not will hinge on the specific terms and conditions stipulated in your mortgage agreement.

    Suppose your mortgage lender permits it; in that case, you should ascertain the essential steps you must undertake to prevent occupancy fraud, as defined by the Federal Bureau of Investigation (FBI) as “when the borrower declares their intention to reside in the property they are purchasing when, in reality, it is an investment property.”

    Certain mortgage lenders might impose additional conditions that you need to adhere to, such as a waiting period before renting the property to tenants and one-time fees to be accounted for. For instance, loans from the U.S. Department of Agriculture (USDA) and Federal Housing Administration (FHA) usually necessitate living in the property for one year before allowing rental arrangements in most cases.

    Due to these considerations, it’s crucial to inform your mortgage lender about your intentions and have a discussion regarding the necessary steps to take before proceeding with finding tenants.

    What to Know About Renting Out a House With a Mortgage

    To ensure compliance with your mortgage lender’s agreement, here are the essential steps to consider when planning your next course of action:

    Research loan restrictions: Different types of mortgage loans, including conventional loans, FHA loans, USDA loans, Veterans Affairs (VA) loans, adjustable-rate loans, and fixed-rate mortgage loans, each come with specific terms. Depending on your loan type, verify whether there are any restrictions regarding renting out the property.

    Review your mortgage contract: Examine the document for any loan restrictions, take note of the stipulated waiting period before renting out the property, and pay attention to any occupancy requirements specified in the agreement.

    Inquire with  your HOA about its rental policy: Certain single-family homes and condominiums may fall under the purview of an HOA, which may have its distinct policies concerning rentals. If your property is part of an HOA, it’s essential to ask about any rental restrictions to stay informed.

    Consult local landlord-tenant laws: To ensure compliance with local regulations, refer to the pertinent landlord-tenant laws that govern aspects such as applicant screening, rent collection, security deposits, non-discrimination policies, and other essential guidelines.

    Consider capital gain consequences: Depending on the state, residing in the property for a specific duration may be necessary to avoid capital gains taxes, which are levied on the profits property owners earn from selling their property. If you have resided in the property for less than two years, you might no longer be eligible for an exemption from paying taxes on capital gains.

    Do I Need to Tell My Mortgage Provider that I’m Renting Out My House?

    Indeed, it is necessary to inform your mortgage lender of your intention to rent out your house before proceeding to find tenants.

    Neglecting to do so could lead to a breach of the agreement and potentially incur substantial fees. To avoid such repercussions, make sure to get in touch with them before taking any further actions.

    3 Tips for Renting Out Your House

    After notifying your mortgage lender and receiving approval to rent out your home, the subsequent crucial task is to secure tenants. Here are valuable tips to guide you in becoming a landlord and successfully renting out your home for the first time.

    Find the right rent price through a competitive analysis: Begin by researching local rental comparables to gauge the rates that other landlords are currently charging for properties similar to yours in the area.

    Opt for a lawyer-reviewed lease agreement: When seeking your mortgage lender’s approval to rent out your property, it’s crucial to ensure the utmost protection for yourself and your asset. To achieve this, having a well-crafted lease agreement is essential.

    Looking for rental services in Orlando – we can help.

    We work with our Owners and tenants as individuals and never under estimate what it takes to keep you happy with your choice of Management Company.

    By doing our due diligence with our clients, tenants, and vendors we create a service that exceeds expectations and generates positive referrals. Click HERE to learn more and how one of our property management professionals can help you!

    Ready to make a Move?

    Bardell Real Estate are the experts in helping you with your selling, buying or renting needs near Orlando, Florida. Make your Disney area experience a forever memorable one. Call us now to speak to a real estate agent.