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homes for rent in central florida: Should You Rent or Sell Your Orlando Home? Landlord Advice
- 08/29/16 06:05 AM
We talk to a lot of property owners who are not sure whether they should sell their Orlando property or hold onto it and rent it out. This is a personal decision that depends on your particular situation. However, if you need help deciding what to do with your house, we have a few things that you should consider. Being a LandlordThe first question you’ll need to ask yourself is whether you’re ready to be a landlord. This is a full time job, and there’s a lot more involved than just collecting rent every month. If you don’t … (1 comments)
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homes for rent in central florida: Set the Best Rental Price on Your Orlando Home like a Professional Property Manager
- 08/29/16 06:01 AM
Today, we are talking about how to set the best price on your rental home. A lot of landlords think that they can list their home at whatever price they desire, based on their mortgage payment or what kind of rental income they want to achieve. However, it’s not the property owner or the professional property manager that dictates the price of a home. It’s the rental market. You have to price your home according to the market; otherwise no one will be willing to rent it. Comparable PropertiesThe best way to get a feel for the market is … (0 comments)
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homes for rent in central florida: 6 Most Effective Ways to Get Your Home Rented Fast - Orlando Property Management Advice
- 08/29/16 05:56 AM
Vacancies cost landlords money. Every day that your rental property is vacant is a day that you aren’t earning rental income. Therefore, it’s important to keep good tenants in your property, and it’s also important to get that home rented quickly when a tenant moves out. Here are the six most effective ways to make that happen. Good PricingWhen you have the right rental price, you’ll get a lot of interest from well-qualified tenants. An overpriced home will stay vacant on the market, or you’ll get applicants who are desperate for housing because they’re about to be evicted … (0 comments)
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homes for rent in central florida: What’s Better for my Orlando Property: Short or Long Term Leases? Property Management Advice
- 08/29/16 05:53 AM
Today at Legends Realty, we will be talking about short and long term leases. Rental properties fall into two categories – long term rentals and short term rentals. When you rent your home out for the long term, you know you’ll have the same tenants in place for an extended period of time; usually at least a year. Both the landlord and the tenants sign a lease, or a rental contract that stipulates the length of time for that long term tenancy. With a short term rental, you’ll also have a contract in place with the renter, but it … (0 comments)
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homes for rent in central florida: How to Prevent Tenants from Damaging Your Rental Property - Orlando Property Management Advice
- 08/29/16 05:49 AM
One of the biggest concerns for landlords is that a tenant will damage the property. This is understandable, and you don’t want to be cleaning up messes and making large repairs between tenants. There are a few things you can do to prevent costly tenant damage.
Screening
A thorough screening process is necessary to find a renter who will take good care of your property. Make sure you talk to previous landlords and find out how the property was left when the tenant was living there. Ask about whether the tenant had pets and if they … (1 comments)
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homes for rent in central florida: Emergency Preparedness on Your Orlando Rental Property
- 08/29/16 05:44 AM
In Central Florida, weather emergencies are always a possibility. Rain and wind storms are frequent and even though we aren’t on the coast, hurricanes and tropical storms can often cause flooding and a lot of other damage in and around Orlando. It’s important to prepare your rental property for potential emergencies.
Communication Plans
Make sure you know all the agencies that you might need to contact, and how to get in touch with them. Emergency numbers you should have include FEMA, the Red Cross, local utility companies as well as law enforcement agencies. You’ll also need … (3 comments)
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homes for rent in central florida: Household Mold Remediation in Orlando – Professional Property Management Advice
- 08/29/16 05:39 AM
Mold can be very dangerous to your investment property as well as any tenants you have living in it. It’s a problem that develops when moisture builds up inside the house. This is often the result of windows that aren’t insulated well. These four tips will help you take care of any mold issues you might have at your rental property.
Act Quickly
It’s important to be proactive, especially if your tenants come to you with concerns that there might be mold in the home. You don’t want to assume that the problem is in fact … (2 comments)
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homes for rent in central florida: How to Get Your Full Security Deposit Back: Tips from an Orlando Property Manager
- 08/29/16 05:37 AM
Security deposit disputes are the most common source of contention between landlords and tenants at the end of a lease term. It’s important that tenants understand everything that is expected of them before they move out in order to get the full amount of their security deposit back.
Cleaning and Property Removal
Remove all your personal property from the rental home before your move out date. You will receive instructions on what to do with your keys, remotes, garage door openers, key cards and other security features. Make sure the property is clean and in the … (0 comments)
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homes for rent in central florida: Ready to Buy a House in Orlando? 3 Things You Need to Know
- 08/29/16 05:33 AM
Buying a home in Orlando is a valuable investment, and the market is in an ideal position to make the dream of homeownership a real possibility for many people. Before you sign on the dotted line, there are some considerations you’ll need to remember when you’re transitioning from a tenant who has rented in Orlando to a homeowner who is completely responsible for the property and its condition.
Mortgages and Financing
The first step in buying a property is to figure out how you’re going to pay for it. Unless you have a large amount of cash … (1 comments)
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homes for rent in central florida: How to Get the Best Tenants – Orlando Property Management Advice
- 08/29/16 05:25 AM
Attracting good tenants for your rental property is not as complicated as you may think. As long as you follow a few basic tips, you will successfully find and place responsible tenants who pay rent on time and take good care of your property.
Property Condition First impressions are critical, so make sure you leave your prospective tenants with a great first impression. It can be the difference between securing the ideal tenant and suffering through a long vacancy without any rental income. Make sure the home is professionally cleaned and has good curb appeal. Take a look at … (1 comments)
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homes for rent in central florida: FREE Rental Analysis - Orlando Property Management Advice
- 08/29/16 05:21 AM
-Requesting a Free Rental Analysis-
A Free Rental Analysis is a good first step in understanding the rental market. Although for planning purposes it may give you some indication of what your property may rent for if it were to go on the market today, there are many additional factors that determine a home's rental value, such as its condition, floor plan, special features, community amenities and so on.
When you decide to put your home on the rental market, a Legends Realty’s team member would be happy to meet with you to view your home personally. Additionally, … (1 comments)
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homes for rent in central florida: Should I Furnish My Orlando Rental Property? Landlord Advice
- 07/25/16 04:23 AM
Landlords often ask if they should furnish their rental property in order to increase the rent they can charge and make their homes more appealing to potential tenants. In traditional long term rental properties, this isn’t a good idea. You should only furnish your property if you are renting it out as a vacation rental, an executive rental or student accommodations.
Caring for the Furniture
One reason that furnished rentals don’t work well for long term tenants is that people are never going to take care of your possessions the way that you would. Scratches, dents and stains … (1 comments)
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homes for rent in central florida: Orlando Real Estate Investing Basics: Detach Yourself from Your Property
- 07/22/16 05:09 AM
In the past, landlords were able to successfully manage their own properties by knocking on doors to collect rent in cash and handling repairs on their own. However, the industry has changed dramatically. In order to invest in rental property and protect your asset, you need to treat it as a business. Property investments can effectively help you build your wealth and income security, but you must detach yourself emotionally from the property.
Keep Your Tenant Relationships Distant and Professional Communicating with your tenants is important, and you want to be respectful of the people renting your home, but … (0 comments)
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