property management Archives - Page 2 of 4 - Orlando Property Management Companies

The 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 are several advantages and disadvantages to consider, which is why we've compiled the following information. Let’s get right into it! Advantages of Allowing Pets in Your Rental Property Embracing a pet-friendly policy in your rental property can be a strategic move, fostering a more inclusive and appealing environment for prospective tenants. And with the increasing number of pet owners seeking suitable housing, this approach can significantly benefit…

Long Term, property management

5 Tips for Successful Tenant Screening

September 24, 20230Comments

The 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, how do you do it right? Keep reading! Today, we're discussing the top 5 tips for successful tenant screening. #1. Set Clear Standards and Know What You Want Starting the tenant screening process is a bit like setting out on a journey in that you need a roadmap. Before opening up applications, decide on what's non-negotiable for you. While it would be ideal to have a…

Long Term, property management

The Top 5 Mistakes Landlords Make and How to Avoid Them

August 26, 20230Comments

Being 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 is profitable and hassle-free. In this article, we'll explore the top five mistakes landlords make and provide insights on how to avoid them. #1. Neglecting Tenant Screening While the urgency to fill a vacant property is understandable, hastily selecting tenants can lead to numerous issues down the line. As you may already know, problem tenants might consistently delay rent, cause damage, or disrupt the peace. The Solution: A…

property management

The Importance of Regular Property Inspections

July 26, 20230Comments

As 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 inspections! Just like a regular health check-up, these inspections keep your rental in excellent shape, prevent costly repairs, and help maintain the value of your investment. So, join us as we explore the importance of regular property inspections and share our top 5 reasons you should do them. Top 5 Reasons Regular Property Inspections Are Vital #1. A Significant Reduction in Maintenance Costs Perhaps the most significant benefit…

property management

Florida Sales Tax on Commercial Rent – What You Need to Know

April 27, 20230Comments

A 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 debate and has placed the state at a competitive disadvantage when attracting new businesses. In today's article, we'll discuss the current Florida sales tax rate on commercial rent, its impact on businesses, and its anticipated reduction in 2024. Current Sales Tax Rate: 5.5% Plus Local Surtax Despite efforts to reduce the sales tax rate on commercial rent in recent years, the current rate, as of January…

property management, Tenants

How To Attract And Retain Long-Term Tenants

February 14, 20230Comments

As 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 top 5 strategies to make it happen. So, let's dive in! #1. Price It Right One of the most common reasons for tenant turnover is the perception of better value elsewhere. To combat this, consider offering your unit at a slightly more competitive rate, perhaps 2-3% lower than comparable properties. This can make your property more appealing to cost-conscious renters, regardless of their financial status. #2. Maintain…

property management, Rent, Tenants

How To Get Into Your First Rental Home: A Guide For First Time Renters

January 10, 20230Comments

As 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, we'll discuss the top tips to help first-timers land the rental home of their dreams. Start the search early One of the biggest mistakes first-time renters make is starting the search too late. It's important to start looking for a rental well in advance of your desired move-in date, as good rental homes tend to go quickly. To find rental listings, there are several options to consider.…

English, property management, Rent, Tenants

7 Reasons to Use Property management Software to Collect the Rent

December 16, 20220Comments

As 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 reasons why you should consider using property management software to collect the rent. 1. Saves Time and Effort One of the most significant benefits of using property management software to collect the rent is that it eliminates much of the extra work. Rather than worrying about collecting payments and depositing them in the bank, the software takes care of the process for you. 2. Reduces Late Payments…

property management

HOW RENTER’S INSURANCE CAN HELP WITH AFTER THE HURRICANE DAMAGES

October 14, 20220Comments

The 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 are only compensated for damages incurred on their personal property due to the wind, hail, or other non-flood-related damage during a hurricane. Furthermore, emergency funds are set aside to handle expenses incurred if your rental home is uninhabitable by hurricane damage and you must stay elsewhere. When Does Renters Insurance Cover Hurricane Damage? Renter's insurance consists of personal property coverage and loss of use coverage. This…

Association Management, property management

THE IMPORTANCE OF WORKERS COMPENSATION FOR CONDOMINIMUM, TOWNHOME, AND HOMEOWNER ASSOCIATIONS

August 15, 20220Comments

Many 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 the truth! Assured Partners is helping associations to build a stronger understand by providing scenarios in which a workers comp policy covered an association that had no employees. An association hired a contractor to replace the roof of their building. The project was estimated to take approximately 2 weeks time. Due diligence was performed by the association when they requested & received a certificate of insurance from the contractor prior…

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