As the owner of residential real estate, one of your worst fears is having a unit or property sit empty for an extended length of time. That’s because you are not only losing an income stream, but you may also be paying carrying costs such as the monthly mortgage payment, utilities, and insurance. But in [...]
If you’re a Florida investment property owner and you’re preparing to file your taxes for 2020, it is important to know where you may be able to get some relief in the form of deductions and/or tax credits. Before moving forward, though, you must first consider what type of investor you are. For example, if [...]
One of the biggest reasons that investors purchase rental property is for the ongoing income stream it can provide. Oftentimes, the amount of monthly rent that can be charged is based on the size of the property and the amenities it offers (such as furnishings, laundry facilities, etc.) But location also has a lot [...]
With life expectancy being longer today, it is not uncommon for people to spend 20 or more years in retirement – with much of that time being active and pursuing new opportunities. But if you’re receiving Social Security retirement benefits prior to reaching your “full retirement age,” other income streams could trigger taxes on [...]
If you’re looking for ways to make your rental property stand out – as well as strategies for charging higher monthly rent – you may have considered offering furnished units. But, while doing so could be more enticing for potential tenants, it may or may not necessarily be the best or most cost-effective way to [...]
As the owner of rental real estate, you are likely well aware of the time and effort it takes to find and screen potential tenants for your investment property(ies). So, once you have a tenant in place, it can be frustrating if they decide to move out before they have fulfilled the time frame specified [...]
Given all of the “events” of the past ten months – including the COVID-19 pandemic - it’s no surprise that many people are more than ready for the year 2020 to end. But if you’re the owner of rental properties that are sitting empty, you may be feeling a sense of urgency to get these [...]
A pet is a big part of many families. Unfortunately, though, four-legged family members can sometimes cause destruction of a property, and they will usually require additional cleaning of the premises when the tenant moves out. All of these issues can equate to added expense for the property owner. So, in most cases, an additional [...]
With the comeback of Coronavirus cases in the U.S. over the past few weeks, many businesses have had to again revise their re-opening plans (if they are even able to open back up at all). These updates include rental property owners in the Sunshine State. In the latest pandemic-related eviction moratorium – which extends to September [...]
Florida is a great place to own rental property. For those who are on either of the coasts, both short and long-term rentals can be quite lucrative with snowbirds and families seeking a warm climate and the sound of the ocean waves. The central part of the state is also a filled with opportunity for [...]
With the resurgence of Coronavirus cases in the Sunshine State over the past few weeks, the financial impact is widening, too. In fact, according to the Household Pulse Survey from the United States Census Bureau, more than one-third of adults in Florida reported that they missed their June rent or mortgage payment and/or will not [...]
While many residential real estate investors place a key focus on generating income, it is just as important – if not more – to increase the value of your property(ies). One reason for this is so that you can ultimately increase the amount of rent that you charge. But there can other nice benefits, too, [...]
The COVID-19 pandemic has changed the way we work and live, possibly far into the distant future – and because of that, both homes and businesses will need to either adapt or face an uncertain road ahead. With that in mind, how can residential rental property investors appeal to potential new tenants, and keep current [...]
As we continue to move through our “new normal,” it is clear that many types of business transactions will take place online going forward. This includes how we advertise investment property for potential new tenants. But with so many sites available on the Internet, how can you narrow down the best ones? Here are three [...]
Eviction Moratorium For over a month now, Florida landlords (along with rental property owners across the U.S.) have not been allowed to evict tenants for non-payment of rent due to the COVID-19 crisis. This, in turn, can make it difficult for real estate investors to pay any expenses that they have regarding their property(ies), such [...]
With millions of people losing their jobs – and in turn, their income – during the coronavirus pandemic (COVID-19), it can be difficult at best for tenants to make their monthly rent payments. But, while skipping what is oftentimes the biggest living expense each month can ease financial hardship for tenants, it can have a [...]
Sometimes, even tenants with the best of intentions must vacate a property before their lease is up. When this is the case, there are a couple of things that could happen. One is that you must market the unit or property for lease again, in hopes of finding another tenant quickly. Another is that the former [...]
There can be a lot of “fine print” that comes with being a landlord. So, if you own real estate investments in the Sunshine State, there are some online resources that you should know about – as you may be required to reference various laws, rules, and documentation. Florida Department of Agriculture and Consumer Services [...]
As a rental property owner, you want to ensure that your investment is protected both physically and financially from fire, hail, and other types of natural disasters. Certainly, carrying homeowner’s insurance can help you with the financial part. But what about damage or destruction that comes from an “internal” source, aka your tenant(s)? One way to give [...]
If you’ve been contemplating the purchase of a (or another) rental property in Orlando, you might be wondering whether a single family house or condo will be your better money-maker. The good news is that either answer could be right – depending on what you’re looking for in an investment. For instance, condominiums are typically [...]
One way that many real estate investors are making things easier on themselves is by using various technologies. Just like in most other industries, the right technology can help to save both time and money. As the owner of residential rental property, you’re likely well aware that the way you manage your investment(s) has a [...]
At some point in your real estate investing career, there may come a time when you start thinking about selling your rental properties. Rather than cleaning them up and putting up a For Sale sign, though, it may be easier to offer the home to your current tenant(s) either through a Lease Option or a [...]
With the 2008 economic downturn still fresh on most peoples’ minds, there has been talk lately about another recession that could be heading our way. If it comes to fruition, what can it mean for rental property owners? With the possibility of lowering interest rates in the future (in a recession), it could mean that [...]