While landlords and Orlando property managers go above and beyond for their tenants when issues arise, it’s important to continue implementing new ideas in their industry. But, they must also continue to meet their tenants’ daily challenges and needs. Here is the ultimate guide to property management for the Orlando & Central Florida area.
As a professional property management company in Orlando, Florida, we have years of experience managing rental homes for investors, landlords, and homeowners throughout Central Florida. We have taken our years of property management experience and created a guide to follow to own and manage a successful rental property in Orlando.
1. Careful Screening of Tenants
Property managers and landlords will often spend significant amounts of money and time making sure their rental property is perfect and ready for a tenant. But, what about the people they are renting to like? It’s crucial never to skip the basics of property management and to take the time for background checks, rental applications, past references, income verification, in addition to criminal background checks & eviction searches. Taking the time to screen a potential renter carefully is incredibly important and can be the difference between a successful investment property and a rental property failure.
2. Ask Current Tenants for References
A great way to find new potential renters, ask your current tenants! They are more likely to know potential tenants, and they are likely to recommend somebody they would like to have as neighbors. Doing so builds a sense of community with new and current tenants.
Whether you own a single-family rental home or a multi-family rental property in Orlando or Central Florida, this can be a very beneficial way to find new and quality tenants for your vacant rental units.
3. Consistently Check-In on your Orlando Rental Property
When your property is tenant-occupied, you’ll want to consistently check up on your rental property in Orlando, Florida. It is a great way to show your tenants how much you care about the property and their experience. In addition, doing consistent check-ins on your rentals allows you to see how the property is being maintained.
While doing a check-in, it’s good to check batteries in smoke detectors, change air conditioning filters, and make sure there are no plumbing issues. In addition, checking in on your rental property allows you to get input on the rental from your tenants and builds a solid relationship.
4. Keep up with Preventative Maintenance
The longer problems go unaddressed, the more it’ll cost to fix in the future. Doing preventative maintenance, including simple repairs, will only prevent increases in vacancy costs. Additionally, keeping up with the cosmetics of your property will help bring in new tenants and keep current renters.
According to The Balance, one of the common reasons tenants move to another apartment or rental home is maintenance issues or deferred maintenance. To keep a quality renter, you need to keep the living conditions in excellent condition. As an Orlando property management company, we recommend taking care of any non-emergency repairs within 3-5 days of receiving a maintenance request.
5. Online Appearance & Accurate Pricing
It’s essential to ensure property availability and property management pricing are updated on your website and other social media platforms. As well as tracking rental property changes and using rental sites such as Zillow, Hotpads, Realtor.com to adhere to your target audience. People often turn to virtual experiences to judge different properties, so it’s crucial to maintain a solid online presence.
We recommend if you are trying to rent your Orlando rental home, you’ll want to list the property for an accurate rental price. If you don’t accurately price your rental property in Orlando & Central Florida, then your property will sit vacant, and you’ll wonder, why is my property not renting?
6. Attract Potential Renters Online
In addition to point five above, two ways to powerfully attract renters online. The first is to amp up their marketing abilities by taking professional photographs of their properties. In this day and age, people are more likely to use online visuals to make their judgments. Therefore, having professional pictures will draw in more potential renters.
The second is to be proactive about soliciting positive online reviews. All prospective renters and current renters must receive fantastic service. Then, soliciting excellent online property management reviews from your tenants becomes easier.
7. Hire an Orlando Property Management Company
If you are unsure how to manage or find a qualified renter properly, you may want to hire a property management company in Orlando, Florida. A professional property manager will do everything possible to create a sound investment rental property experience.
Rental property managers in Orlando, Florida, will screen prospective tenants and manage your rental property daily. Property managers are in business for ensuring your rental investment property is running smoothly and profitable.
Orlando Property Managers Summary
There are numerous moving parts to owning and managing a successful rental property. However, if you follow this guide created by a professional property manager – you’ll likely end up with a successful and profitable rental property in Orlando & Central Florida.
We are here to help if you have any property management questions. At The Listing Orlando, we specialize in managing rental properties throughout Orlando, Florida. Contact us today for trusted Orlando property management.