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 [...]
If you own rental property in Orlando or the surrounding Central Florida area, then the upcoming winter months may have you wondering whether or not it makes financial sense to rent to “Snowbirds.” Snowbirds refer to those who live in the colder climates of the United States for much of the year, and temporarily move [...]
It’s just a fact of life that homes and apartments require a certain amount of maintenance and repairs over time – and as a landlord, it is likely that you have at least some amount of money budgeted for this. But the line is sometimes a bit blurred between when the property owner or the [...]
With the fall season quickly approaching, many investment property owners have concerns about finding good tenants for their vacancies. Similar to the process of selling a home in the fall and winter months, renters can be harder to find – especially those who have children that are just beginning a new school year (and don’t [...]
One of a rental property owner’s worst fears is having a vacant unit that requires ongoing carrying costs. In fact, the longer a property sits empty, the more expensive it can get both from a monetary standpoint, as well as the likelihood of vandalism. Even worse than a vacant unit, though, is filling a property [...]
One of the last things that an investment property owner wants is an empty unit that isn’t producing any incoming cash flow. That’s because, every day that goes by, revenue is being lost. So, how can you make your rental property stand out and be more attractive so that potential tenants not only notice it, but [...]
If you own rental property(ies), your first priority is typically ensuring that your unit(s) are leased so that they are producing an ongoing income stream. Otherwise, you could soon be in the red. But just simply attracting any tenant could oftentimes end up doing more harm than good – particularly if they don’t pay their [...]
If you’ve owned rental property for any length of time, then it’s likely that you’ve received at least one call from a tenant, informing you that the air conditioner is on the fritz, the dryer is only blowing cold air, and / or the refrigerator isn’t keeping food cold. While these types of calls can be [...]
One of the worst situations that a real estate investor can have is paying expenses on an empty unit, without receiving any incoming cash flow. So, getting the word out to potential tenants can be crucial for generating income from the rental property. While there are a number of ways to advertise available rental property, [...]
If you own rental property in Florida, then under state law, you are required to return your tenant’s security deposit within 15 to 60 days after the tenant has moved out of the unit. Vacating the property includes physically moving out, as well as returning the keys. If there are certain repairs required that are [...]
With another hurricane season right around the corner, it’s important to prepare your rental properties in Florida from potential damage that could occur. Each year, May 15th through November 30th are considered the peak dates for hurricanes to take place along both the Atlantic seaboard and the Gulf Coast. While you certainly can’t prevent hurricane [...]
As the owner of rental real estate, you likely want to make your rental property as appealing as possible to attract – and retain – tenants. One way to do so is to include various items like utilities in the overall cost of the monthly rent (as versus having the tenant may them directly). But, [...]
Any type of real property should be insured against potential damages. This is particularly the case in areas like Central Florida where the likelihood of natural disasters like hurricanes exists. But, while you can protect yourself and your investment with property insurance, what about the personal items of your tenants? This is where renter’s insurance [...]
As the owner of rental real estate, you may always be looking for ways to increase the revenue you receive. One way to do so is by renting your unit(s) furnished. Doing so could allow you to charge up to 75% more for in monthly rent. But, before you start moving furniture into any rental [...]
As an investor in rental real estate, it is likely that your ultimate goal is to ensure that you have enough money coming in to cover all of your expenses, as well as to set aside for emergencies…and profit! But as time goes on, how can you determine when it’s the right time to increase the [...]
As a landlord or the owner of rental real estate, you are likely looking for ways to keep your tenant(s) in place and in turn, the rent checks coming in. Certainly, one way to accomplish this is to communicate regularly with your renter(s). But, while good landlords will typically respond to tenant needs in a [...]
While owning rental property in Central Florida can certainly be a profitable endeavor – and a great way to earn “passive” income – being a landlord isn’t quite as easy as the late night real estate informercial gurus make it out to be. In fact, there are a number of common mistakes that are made by [...]
If potential tenants are passing your rental property by for other, more updated options, it may be time to consider making some renovations to your offerings. But where can (or should) you spend good money that truly pays off? There are actually a few areas of note. In most cases, providing updates to the kitchen [...]
Having tenants break their lease is, unfortunately, a common occurrence for those who own rental property. But as the landlord, what if a situation comes up that requires you to end the relationship early? As the owner of investment property, there may come a time when you have the opportunity to sell – which may [...]
If there’s one thing that you can count on in Florida in January, it’s that there will be many, many visitors. Whether they are Snowbirds vying to escape the cold winters up North, or those who want to visit world-class attractions for a week or two, you can plan on numerous visitors from around the [...]
If you’re relying on rental real estate investments for a steady stream of incoming cash flow, the last thing you want to worry about is having to pay for costly damages or losses. With that in mind, it can be beneficial to purchase a landlord insurance policy. Landlord insurance is a type of coverage that [...]
