As an Orlando landlord, you must wear many hats if you want to own an efficient rental property that gives you the returns you’re looking for. As a professional Orlando property management company, we know there are a lot of things that go into efficiently and effectively managing rental properties. Whether you are a single property owner with one Orlando rental property or a seasoned Orlando real estate investor. Many real estate investors imagine property managers just collect rent. If you find the right property manager, they do much, much more than that. So, the question is: “What does an Orlando property manager do?” Explained by The Listing Real Estate Management, an Orlando & Tampa Property Management Company. This is a very broad question, but here are all the things that your Orlando property manager will do for you and your rental property.
State Law Licensing & Compliance
Orlando property management companies will have a registered real estate broker. Their broker must have extensive real estate knowledge and constantly uphold education requirements and courses. With this extensive knowledge, you can trust their expertise with your rental property.
With continued education, your Orlando property management company will keep your rental property in compliance with state and county laws. Your property manager can make suggestions on what needs to be done to keep your property running smoothly and out of sticky situations such as county code violations.
Advertising and Marketing
Rental properties need tenants, and tenants need rental properties. We as property managers, bring the two together. Finding and placing quality tenants is what we specialize in as your Orlando property manager. We handle the huge issue many Orlando landlords face: “How To Find Quality Tenants in Orlando?” We take the issues out of showing your property and the hundreds of phone calls that come with it. The best property managers will syndicate your property out to the masses, your rental property will be all over Zillow, Trulia, Apartments.com and hundreds of other sites.
Your Orlando rental property manager will get your tenant setup on their very own tenant portal where they can simply log-on and submit rent via credit card, debit card and direct deposits. It is extremely easy for tenants to get your Orlando property management company rental payments. Many Orlando landlords are still accepting rent payments in person and or cash. We highly recommend against this as it causes issues with late payments, non-payments and safety concerns. Your Orlando property manager will handle all rent collections and then direct deposit rent into your account.
Rental Property Inspections
Your Orlando property management company with do rental property inspections. They will have constant eyes on your rental property. We conduct a move-in and move-out inspection as well as mid-year interior inspection and quarterly drive-by inspections. Each inspection plays a critical role in the up-keep of your rental and the enforcement of the lease agreement. Move in/move out property inspections for your Orlando real estate asset ensures your property is given back to you in the manner it was handed over. Rental property inspections play key roles in the success of your rental property.
Rental Property Screening
Property managers will screen your tenants making sure they will pay rent on time and maintain and care for your asset. Your Orlando property manager will check: credit score, criminal record, employment verification, previous rental history and a nation-wide eviction search. This process is very thorough and is absolutely necessary to know the quality of tenants you are placing into your Orlando rental property.
Reviewing, Signing and Briefing
When your Orlando tenant has been approved. Your property manager will then get the new tenants on a lease agreement. The best Orlando property managers will be using an attorney prepared lease agreement. This is an iron-clad lease agreement, this holds your tenant accountable during their lease term. Your property manager will review how things will operate during the lease term and brief the tenants on their responsibilities of renting your home or apartment.
Enforcing the lease agreement is very important. Your Tampa Multifamily property management company will know which notices need to be posted. Notices will need to be posted in accordance with Florida Law. If your tenant has people living in the property that have not been screened and are not on the lease agreement, your property manager will know how to handle that situation. It is important that your tenants stay in compliance with the lease agreement. If your tenants are not abiding by their lease agreement, your property manager will know how to handle the situation.
Rental Property Scheduling
Property managers will do all the scheduling for your rental property. This means scheduling for showings, vendors, etc. Your tenant needs to be well informed if a vendor is coming to the property. Tenants need plenty of notice when someone will be at the property. If you’re a landlord that constantly goes to your rental property and surprises your tenants, most likely they will be extremely annoyed and not renew their lease for another term.
Rental property accounting can get quite confusing if you own more than one rental property. Orlando property managers will handle all of the accounting of your property or properties. Just like your tenants, you will have your very own owner login. You’re able to track all of your financials from anywhere and anytime. Your Orlando property manager will input maintenance invoices if there are any. You can run any report you would like, allowing you to better understand how your rental property is performing. As an Orlando real estate investor it’s important to know your numbers and this allows you to grow your rental property portfolio with clear performance metrics.
Rental Property Maintenance
During the term of the lease your tenant residing in your rental property will submit maintenance requests. Your Orlando property management company will be handling all things maintenance with your property or properties. Property managers have great vendors or in-house maintenance technicians that can handle all the routine maintenance issues that may arise throughout the term of the lease. The best Orlando property managers will have a 24hr emergency maintenance line. This ensures your property is being well cared for even in the middle of the night.
Property Management Summary
So, what does your Orlando property manager do? Long story short, they are busy working on your behalf. Here at The Listing Real Estate Management, we are a full-service Orlando Property Management Company. All of the above tasks are handled by your professional property manager so that you can sit back and relax. We pride ourselves on executing on all the aspects that go into managing your real estate asset. If you have any questions or would like a free rental analysis, please Contact Us at The Listing Real Estate Management, we are always here to help!