Property Management for Florida Landlords
Property management for Florida landlords can be the key to circumventing what can otherwise become growth-limiting factors. If you are one of those who acquired a few rental properties as a reliable way to earn easy, hands-off income, you may have been surprised when your hands turned out to be a bit more ‘on’ than you had planned.
Or perhaps you are an experienced landlord looking for a way to expand your business—but already fully occupied with the status quo. The solution may be one you considered before, but decided against for cost reasons. But now that you have more predictable cash flow expectations, you might take a harder look (clearly, many others have done so: according to the international analysts at IBIS World, the property management industry does $55 billion worth of business in the U.S. every year!).
Here’s a back-of-the-envelope look at why property management in town makes sense to so many thrifty landlords:
· Complete landlord/tenant law knowledge. You can imagine the cost in time, aggravation, and dollars for finding yourself on the wrong side of a legal dispute. You may think that you know the ins and outs of Florida’s applicable laws, but changes do happen. A property management company has the pooled resources to keep abreast of legal strictures. What your rental business doesn’t need is for the owner (you) to have to wrap your head around legal loopholes and legalese!
· Task delegation. Tending to rental maintenance issues, tenant complaints, and the host of other property management tasks eats into time you could spend earning a living, or enjoying life. A good Florida property management company handles collections, maintenance, and the occasional problematic tenant.
· Avoiding paperwork. A Florida property management company is classified as a contractor rather than an employee, helping you to escape payroll tax and other hiring fallout. It streamlines, rather than complicates your rental business.
Whether you need help in getting started or want to offload some of the busywork, property management companies may be able to provide benefits that easily outweigh the cost. Call me for a fuller picture of this winter’s Floridaincome property picture!
If you’re thinking of buying a Florida home, contact Bold Real Estate Group currently servicing the neighborhoods of Port St Lucie, Palm City, Stuart, Vero Beach, Palm Beach. Having the right Florida Realtor means having a Realtor who is committed to helping you sell your Florida home with the highest level of expertise in your local market. This commitment level has helped Bold Real Estate Group build a remarkable track record of delivering results.
About the Author: Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida. Millie is Vice President of Bold Real Estate Group in Stuart. A boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties. Millie is fluent in English and Spanish with a strong network of real estate professionals worldwide. Other post by Millie Gil
If you liked this article, please find the Share buttons below the article and share the love or share your own viral tips in the comments section below. I’ll see you there!