Common Fears & Concerns for Renting Your Property

Many people have owned a rental property with much success, but we have all heard the “horror Stories” and problems. These are usually a friend of a friend or “I heard someone once…..” etc. and when questioned, they usually did not perform a background check, credit check, income verification, past landlord verification, and most importantly, did not use an attorney prepared lease.

“The tenant will destroy my property…”

We have all heard the stories. The truth is, this is a very rare experience, and usually the tenant was not properly screened prior to moving in. Most issues can be avoided with a thorough background check, credit check, income verification, and rental history. In our experience, the security deposit usually covers any issues. In addition, we use the largest law firm in the state of Florida that has been preparing leases and representing landlords and property managers since 1989.

Most people that have had a professional management company for their rental properties have rarely had major issues.

If you have never owned a rental property and have considered renting yours, give us a call. We can discuss your specific needs and help you feel comfortable. Let us show you how we can help take the fear and risk out of the process.

Why Consider Renting Your Property

There are many reasons why someone will rent out their property. Many of the common scenarios we have assisted property owners with are:

Passive Income. Where an investor buys a property with the intention to rent it and receive monthly cash flow.

Secure a property now for future retirement. Many retirees owned a property for many years prior to moving to SW Florida full time. By renting the property, they realized it could more than pay for itself and insure they had their future retirement home already in place.

Unsure if you want to sell your current home? Many owners have considered moving to another location or new job, but always want the option to come back in the future. We have been able to rent their property to offset the cost of continued ownership and allow them to continue to build equity.

Accidental landlord? We have worked with people that were experimenting with buying to flip (resell) or build to flip and realized they couldn’t turn a profit. However, we have been able to turn it into a successful rental.

Upside down? These are homeowners that do not have enough equity to sell their home and pay off the mortgage and closing costs. We have been able to turn these into a rental property , helping them to avoid foreclosure and ruin their credit.

Vandalism: Avoid the vandalism that can occur with a vacant home, while providing an income stream from a well-qualified tenant. A home is better maintained when it is lived in.

KEEP AN AVERAGE OF $40,000 OF YOUR EQUITY BY NOT SELLING YOUR HOME

  • Keep your home as you trade up and avoid the costs associated with selling, so you can continue to build equity
  • Build wealth. Many people have built long-term wealth for generations by owning rental properties.

Who Handles What?

Most owners prefer to have their rental property professionally managed and allow it to be a hands-off investment.

From tenant screening and placement to collecting rents via our online payment portal, to arranging repairs and maintenance, we handle most everything.

What if a Tenant Doesn't Pay the Rent?

Most of the time, a reminder call from your property manager is all that is needed. If needed, your property manager will properly post a 3 day notice requesting rent be paid immediately.

In the very rare case, an eviction process will be initiated by your property manager through the attorney that prepared the lease (in our experience, this has happened less than one percent of times. In other words, it is very rare it has to go this far.

In the event it actually makes it as far as an eviction , the process typically takes less than six weeks, after which time we get your property rented and producing income for you again.