While the goal of many investment property owners is to generate a “passive” stream of rental income (as well as to garner several attractive tax-related benefits), the process can be easier in states that are considered to be “landlord friendly.” The good news is that Florida is one of those states! One of the top reasons for this is because in many instances, the state puts the needs and requests of the landlord before that of the tenant.
In addition, some of the other items that can bode well for rental property owners and landlords in the Sunshine State include:
- No laws regarding rent control.
- Low taxes and insurance costs.
- No state income tax.
- Rising housing costs, which can make renting more attractive.
On top of that, Florida is still one of the most desired states in the country for retirees – many of whom opt to rent their housing as versus making a high-ticket purchase of a new home.
So, whether you’re just starting to think about purchasing your first investment property, or you’re a seasoned rental property owner, buying – and keeping – investment units in Florida can bring about a long list of benefits for you.
Even so, however, one downside is that managing and maintaining rental units in Florida (or for that matter, anywhere) can be a bit time consuming. So, if you’re juggling a full-time job, family time, and a whole host of other obligations, the last thing you want is to get a call in the middle of the night about a leaky toilet or a non-working appliance.
That’s where an experienced Florida property manager can help. At Central Florida Property Management, we offer a wide range of services to property owners so that they don’t have to spend time collecting rent checks, making repairs, or even conducting the regular property maintenance that is required to keep units in top shape.
For more information on how a Central Florida property manager can make your life easier, just contact us today.