Managing long-term rentals can be rewarding but requires consistent attention to detail, tenant relations, and property upkeep. For both new and seasoned property managers, avoiding common pitfalls can lead to smoother operations and more satisfied tenants. Here’s a look at some of the top mistakes property managers make in long-term rentals and how to steer…
DetailsTenant Retention Strategies for Long-Term Rentals For landlords and property managers, tenant retention is crucial to maintaining a stable rental income and reducing the costs associated with vacancies and tenant turnover. Retaining good tenants in long-term rentals ensures not only steady cash flow but also minimizes the hassle of frequent re-leasing, marketing, and repairs. Implementing…
DetailsFurnished vs. Unfurnished Rentals: Pros and Cons for Long-Term Tenants When deciding between a furnished and an unfurnished rental, long-term tenants must consider various factors that can significantly impact their experience and finances. Each option offers distinct advantages and disadvantages that can align with different needs and preferences. Here’s a closer look at the pros…
DetailsIn the dynamic realm of property management, technological advancements are driving unprecedented change and efficiency. Traditionally perceived as a conservative industry, property management is now at the forefront of adopting innovative solutions that streamline operations, enhance tenant experiences, and optimize resource management. Smart Building Solutions The integration of smart building technologies has revolutionized property management…
DetailsFirst impressions matter, especially when it comes to attracting tenants for your long-term rental property. Enhancing your property’s curb appeal not only increases its attractiveness but also adds value and can lead to higher rental rates. Here are 10 effective ways to boost your property’s curb appeal and attract quality tenants: Landscape Maintenance: Keep the…
DetailsDid you know that a well-managed rental property can yield an ROI of up to 10% or more annually? It’s true! However, in real estate investment, success isn’t just about owning property; it’s about smart, strategic management. From fine-tuning rental prices to effective tenant screening, every decision counts. So, if you’re looking to transform your…
DetailsThe Advantages and Disadvantages of Allowing Pets in Your Rental Property Owning rental property in Orlando is an opportunity to generate a steady income while building equity in a valuable asset. However, one common dilemma that landlords face is whether or not to allow tenants to keep pets in their rental units. With this, there…
DetailsThe foundation of any successful real estate venture is often built on the quality of its tenants. Much like a sturdy base ensures a building’s durability, the right tenant choices pave the way for a smoother rental process. However, the key lies in effective screening – sifting through the many to find the best. So,…
DetailsBeing a landlord might seem like an easy way to generate passive income, but property management is far from hands-off. In fact, the process requires diligence and a keen eye for potential pitfalls. So, whether you’re an experienced landlord or just starting out, it’s crucial to be aware of common mistakes to ensure your venture…
DetailsAs a landlord and investor, you probably know how vital it is to keep your property in top-notch condition. After all, dealing with distressed properties can be a nightmare, as they’re draining on both your time and finances. But what if we told you there’s a simple and effective solution to this problem? Routine property…
DetailsA Unique Tax Situation in the Sunshine State As a savvy business owner or investor, understanding the tax implications of commercial rent in Florida is vital to your financial planning. Interestingly, Florida is the only state in the United States that imposes a sales tax on commercial rent. This unique tax has sparked a longstanding…
DetailsAs a property owner, securing long-term tenants is key to ensuring the success and stability of your investment. These tenants bring a multitude of benefits, including reliable income streams and minimal turnover costs. But how do you go about attracting and retaining these highly sought-after renters? Keep reading! Today, we’re going to give you our…
DetailsAs a first-time renter, finding a place to call home can be overwhelming and intimidating. The process can be daunting, from scouring listings and filling out applications to negotiating leases and signing contracts. But don’t worry! With a little preparation and know-how, you can find the perfect rental home and make a smooth transition. Today,…
DetailsAs a landlord or property manager, collecting rent from tenants can be a tedious and time-consuming task. It involves sending reminders, following up on late payments, and tracking income and expenses. But with the help of property management software, this process can be streamlined and made more efficient. In this article, we will discuss seven…
DetailsThe standard renter’s insurance policies include coverage for fire, hail, wind, or falling objects related to hurricanes. However, renters insurance is not responsible for and does not cover flood damage from a storm or hurricane. Instead, renters’ insurance covers hurricane damage under personal property coverage and loss of use coverage. Meaning victims of the hurricane…
DetailsMany association Boards of Directors, in an effort to help keep assessment costs low, decline the purchase of a workers compensation policy for the association. The reasoning for this is often times based on the presumption that the association has no employees so a workers comp policy is not needed. This couldn’t be further from…
DetailsAccording to 2021 Zillow report, more renters say they considered buying. Specifically, more than half (56%) say they considered purchasing when they were looking for a home to rent. They say real estate purchasing starts with real estate agent. True, but often agents would ask for a pre-approval letter before they even begin any search.…
DetailsHow long does it take to get your property rented? Not long at all! Our Property Management experts believe that if rental listing remains active for more than 5 days, it’s concerning. Let’s review why your property is active for unacceptably long time. 🔥 Your listing is overpriced. You may have a well-maintained property, but…
DetailsLeading Orlando management company, Mila Realty, helps more clients enjoy win-win situations amidst rave reviews from rental homeowners The team at Mila Realty has grown over the years to become a leading name in the rental market in and around Orlando. The Kissimmee property management firm has particularly stood out for helping rental estate investors to deal…
DetailsHurricanes may seem like a regular annual occurrence to most Floridian homeowners, but to the majority of the nation, they are a force to be reckoned with. Whether you are a brand new homeowner or a seasoned one, owning a property in one of the states that are impacted by the hurricane season comes with…
DetailsAs the prospects of no income tax and beautiful weather continue to attract out-of-state investors, the Florida real estate market is booming and it seems that there is no end in sight. Central Florida, especially the greater Orlando area has seen a drastic influx of home buyers due to its ideal location in terms of…
DetailsThe “landlord” title comes with as much responsibility as it does prestige. From vetting the tenants to collecting rent payments and managing repairs and maintenance, the list of responsibilities of a homeowner and landlord are never-ending. Hiring a competent and reputable property management firm could take the weight off your shoulders by shifting the workload…
DetailsLate rent collection is one of the biggest challenges a landlord has to go through. It’s absurd to overreact and start serving legal rent-demand notices. This only creates unnecessary tension if the resident has an acceptable reason for not paying rent on time. That said, however, it doesn’t discount the fact that late rent is…
DetailsThere is no place like home. As much as we love our homes as much our homes require our attention. Luckily, maintaining the property does not have to be complicated when we use simple but smart techniques consistently. With preventative maintenance, homeowners can help equipment near the end of its product lifecycle to work or…
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