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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.


    Benefits of Using a Property Management Company?

    Benefits of Using a Property Management Company?

    Benefits of Using a Property Management Company?

    Benefits of Using a Property Management Company

    When it comes to your investment, having a competent property manager can make a world of difference. Seasoned real estate investors swear by the fact that a good management company is worth its weight in gold. So, let’s dive into a few ways a top-notch property manager earns their keep:

    Higher Quality Tenants

    Imagine tenant screening as the protective moat and drawbridge surrounding your fortress. While it can be a headache to remove a troublesome tenant once they’ve settled in, it’s far easier and more beneficial to avoid accepting them altogether. By conducting a comprehensive screening process, you ensure that your tenants are dependable and:

    • Pay on time
    • Rent longer
    • Put less wear and tear on the unit
    • Generally cause less problems

    A seasoned property management company has encountered countless applications and mastered the art of swiftly uncovering crucial details about candidates. They possess the expertise to analyze this information and identify any red flags. Entrusting the screening process to a management company not only saves you from rental scams targeted at property owners but also protects you against potential discrimination lawsuits arising from an inconsistent screening approach. This invaluable experience, which helps you steer clear of undesirable tenants, scams, and legal entanglements, is undeniably one of the most substantial advantages a property management company brings to the table.

    Fewer costly and time consuming legal problems

    Experienced landlords understand that a single problematic tenant can lead to substantial legal and financial complications. A reliable property manager possesses up-to-date knowledge of the latest landlord-tenant laws and takes proactive measures to safeguard you from potential lawsuits. It’s important to note that each state and municipality has its own set of laws, in addition to federal regulations, which encompass various aspects including, but not limited to:

    • Tenant screening
    • Safety and property conditions of the property
    • Evictions
    • Inspections
    • Lease addendums
    • Terminating leases
    • Handling security deposits
    • Rent collection

    By evading just one lawsuit, you can easily offset the cost of property management fees and save yourself valuable time and unnecessary distress.

    Shorter vacancy cycles

    A property manager plays a vital role in accomplishing three essential tasks that directly impact the speed at which your vacancies are filled:

    • Enhance and get the property ready for renting – With the expertise of a property manager, you can receive valuable recommendations and effective supervision for cosmetic enhancements that optimize your rental income.

    • Set the ideal rental rate – Setting the rent at the right level is crucial; too high leads to prolonged vacancies, while too low means losing money each month a tenant occupies the unit. Determining the optimal price necessitates a deep understanding of the local market, analysis of recently sold comparable properties, and access to reliable rental rate tools.
    • Efficiently promote your property – A proficient property management company has crafted numerous compelling advertisements and possesses the knowledge of what to say and where to advertise, ensuring a larger pool of potential candidates within a shorter timeframe. Moreover, due to their extensive volume, they can often secure more cost-effective advertising rates both online and offline. Additionally, they are well-versed in sales tactics and excel at closing deals during phone inquiries and property showings.

    Better tenant retention

    While the impact of lost rent is apparent, a high tenant turnover rate comes with equally significant challenges. The turnover process entails extensive cleaning, lock changes, wall painting, and potentially even new carpets or minor repairs. Additionally, there’s a considerable amount of effort involved in marketing the property, conducting showings, screening new tenants, and facilitating their smooth transition. This entire process is both time-consuming and costly, but it can often be prevented by prioritizing tenant satisfaction and providing excellent care.

    A reputable property management company implements a proven tenant retention policy that fosters tenant satisfaction and encourages long-term stays in your properties. Such programs rely on a consistent and systematic approach, which is precisely where a reliable property management company excels.

    Tighter rent collection process

    Effectively managing rent collection and late payments can make or break your success as a landlord. Ensuring timely rent collection is crucial for maintaining a steady cash flow, and it’s essential for your tenants to recognize that this is non-negotiable. By enlisting the services of a property manager, you create a protective barrier between yourself and the tenant. They handle the challenging aspects of dealing with excuses, pursuing rent payments, and, if necessary, initiating eviction proceedings, sparing you from these unpleasant tasks.

    If given the opportunity, tenants can take advantage of you as a landlord. It’s crucial to establish clear expectations and ensure they understand the consequences of not adhering to the lease agreement. Property managers possess an advantage in this regard because tenants perceive them as individuals who are simply carrying out their job duties and are bound to enforce the terms of the lease. In fact, many property managers will attest that managing units for others is often easier than managing their own, precisely for this reason.

    When it comes to evictions, the eviction process is governed by stringent laws. Mishandling or attempting to evict a “professional tenant” can lead to a significant disaster. However, a reliable property management firm is well-versed in the legal requirements and possesses an effective process to achieve the best possible outcome based on the circumstances. The prospect of never having to deal with another eviction can be a compelling reason to seriously consider hiring a property management company.

    Assistance with taxes

    Enlisting the services of a property management company not only aids in identifying eligible deductions but also assists in organizing the required forms and documentation for those claims. Furthermore, it’s worth noting that the property management fees themselves are tax deductible, providing an additional benefit in terms of tax savings.

    Lower maintenance and repair costs

    Maintaining good upkeep and promptly addressing repairs not only ensures tenant satisfaction but also preserves the value of your investment, making it a crucial aspect of property management. By engaging a management firm, you gain access to their dedicated in-house maintenance staff as well as a network of licensed, bonded, and insured contractors who have already undergone thorough vetting for competitive pricing and quality work. This can result in substantial cost savings compared to independently searching for service providers through directories. The management firm benefits from volume discounts and possesses familiarity with the contractors, enabling them to intelligently supervise the work and address maintenance issues effectively.

    Increase the value of the investment

    Preventive maintenance involves implementing systems that proactively identify and address maintenance and repair issues at an early stage, before they escalate into more expensive problems. This entails establishing a written maintenance check program, maintaining detailed documentation of maintenance tasks, and conducting regular maintenance visits. Additionally, a management firm can provide valuable recommendations and insights regarding upgrades and modifications, including their impact on rental potential, maintenance requirements, and insurance considerations.

    Personal benefits for owners

    • Experience reduced stress – Say goodbye to handling late-night emergencies, pursuing rent payments, carrying out evictions, dealing with tenants who cause damage, encountering rental scams, managing unreliable vendors, and drowning in paperwork. By enlisting the assistance of a property management company, you can alleviate these burdens and enjoy a more relaxed landlord experience.
    • Gain increased freedom – Embrace the freedom to reside and invest in any location of your choice, without being tied down to the proximity of your properties. Moreover, you can live and travel without the constant obligation of being readily available for your tenants’ needs. Once you have secured the services of a reliable management company, it becomes irrelevant whether you reside in the same state. In fact, some landlords reside in different countries and effortlessly collect their monthly rental income without ever setting eyes on the property.

    • Reclaim your time – Time is a valuable resource, and for many investors, their time can be more effectively utilized in areas other than tending to property management tasks. By prioritizing asset management, you shift your focus to working on the growth of your business, rather than being consumed by the day-to-day operations. Moreover, freeing up your time allows for more quality moments spent with loved ones, engaging in activities that bring you joy and fulfillment.

    A final thought

    Certainly, this ideal scenario assumes that the management company you choose is competent, trustworthy, and well-suited for your property. It’s important to note that making a poor choice in selecting a management company can lead to a host of headaches and challenges of its own. Therefore, thorough consideration and careful evaluation are crucial when deciding on the right management company for your property.

    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!

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