All Forum Posts by: Joseph Velez

 Brownstone Title Services in Longwood. they can help you with all your needs.

Marcus, I would be happy to recommend a property management company, are you looking for short term or Long term rental management? I have lots of great contractors I can recommend. feel free to reach out anytime.

Orlando, I am not surprised to hear what you are saying happened to you, I hear things like that from our new clients all the time. That's I why it is so important to research the Property Management Company's you are thinking of working with. That includes looking at reviews, their services, fees, there location, eviction rates, delinquency rates, there management agreement and things like do they have a high employee turnover rate. If their management agreement locks you in long-term and does not have a 60 day or less termination clause then you should keep looking.

Eric, I think what Jonathan recommended was very good, I have an extensive marketing background so I would also recommend that you start with everything that is free first, for Ex: all your social media (Facebook, LinkedIn, the free page from realtor.com, zillow.com and so on. A great resource for leads when you first get started is friends and family so reach out to them first and then all there friends, your old co-workers and so on. Link everything to your website page if you have one and Like Jonathan mentioned "don't over post and post relevant stuff. 

I would be happy to attend, see you all there!

Hi Victor,

I would be happy to recommend someone in the Central Florida area, his name is Mel Bernstein, you can Google him for all his contact info. He specializes in investment properties and works with many of our investor property Client/owners.

Rental real estate is traditionally an excellent medium-to-long-term investment from a financial standpoint. But the idea of dealing with difficult tenants is at or near the top of the list of why many investors do not want to be landlords. The vast majority of the time, vetting protocols such as background and credit checks work for procuring reliable tenants. But there’s no such thing as a sure thing, and that’s why there are some basic steps landlords should take before agreeing to lease their property, as well as proven practices that help prevent problems after a tenant has moved in.

Screen Prospective Tenants
Unless you are renting to a family member or friend (which can bring its own set of difficulties), you likely will be entering into a legally binding financial contract with and entrusting a major investment of yours to a stranger. That’s why it’s of the highest importance that you properly screen your applicants before they become your tenants.

A background check will verify a person’s identity and provide any eviction history. Similarly, a credit check will allow you to assess the prospective tenant’s likelihood to pay rent reliably.

No reasonable tenant-to-be should resist providing relevant information, giving signed consent and paying the application costs associated with renting a home. If they do, that is an early sign that that person may not be the right tenant to occupy your property.

Collect Deposits
The standard security deposit is usually equal to one month’s rent, but some states law allows property owners to collect up to two months’ rent for a security deposit. Property owners should familiarize themselves with security deposit laws.

Often a tenant may ask for a lesser deposit based upon their credit and rental histories or their personal financial situation, but the standard one month’s rent is a great benchmark for a deposit. It provides owners with, at minimum, a 30-day buffer in case something goes wrong with your tenant, as well as a reasonable sum to properly make repairs without having to get into potentially unpleasant or drawn-out exchanges with recently departed tenants.

Conduct Regular Property Visits
Even when you have a phenomenal tenant occupying your rental property, it is a good idea to conduct regular property inspections. Property inspections help track the condition of a property and can prevent small issues from becoming larger ones.

Inspections at move-in and move-out are typical, as is having the tenant complete their own move-in checklist to address concerns that are not and should not be their responsibility. Routine inspections while a tenant occupies the property can be conducted every three to six months and will allow you to stay on top of maintenance and address any issues with the upkeep of the property. These inspections typically take place with the occupying tenant present and may allow them to address concerns that you, as a property owner, may not have known about otherwise.

You can also perform drive-by inspections without needing to coordinate with the tenant to address any concerns with the exterior upkeep of the property.

Document
It is always a good idea to document every interaction with a tenant and any and all work done during their occupancy of the property. Keeping most exchanges with tenants to email is a great way to document matters of concern and will help immensely if things need legal action to resolve. When you do speak with tenants by phone, keep notes of when the call took place and follow each call with an email to keep a trail of your communications. It is not the norm for matters to go to court, but in case the worst happens, you will want to have as much documentation as possible to make sure things go smoothly.

Keep and Provide Receipts
Along with documentation of exchanges, keeping receipts and providing receipts to your tenant is a good practice. For instance, if a plumbing problem requires an emergency visit that costs you $300, maintain that receipt and provide a copy of it to your tenant so that, if necessary, it can be shown that you addressed the matter professionally and promptly. This also helps the tenant know that you are invested in making sure the property they are occupying is well maintained and hopefully makes them take good care of the property themselves.

Have a Collection Company at the Ready
Let’s face it. Sometimes the worst happens. After trying to resolve matters one-to-one or even via small claims court, it may be necessary to employ a collection agency to recover lost rent or costs of repairs. Using a collection agency likely will only cover part of your losses, but sometimes it is the only means to protect yourself and your investment from a difficult former tenant who isn’t owning up to their end of things.

Getting the right tenant in your property, as well as handling difficult tenants, is at or near the top of the list of reasons why property owners should consider working with a trusted and experienced property management company. From proper vetting of prospective tenants to providing the property lease documents, working with an established property management company will protect property owners in disputes with tenants. Property managers have specific training on how to handle these matters and can reduce the stress and strain of a difficult tenant, allowing you to relax as your property generates the income and the equity you deserve.

CONTENT PROVIDED BY DAVE SWEYER

Property management can be very challenging, especially if you have another job. In such a situation, it is advisable to hire a professional property manager to manage the property for you. However, you have to take your time to ensure that you hire the best.

1.Consider What You Will Get from the Agreement

Your top priority when investing in rental property might be to make as much profit as possible. Therefore, before hiring a property management company, it is advisable to consider what you will get from the Agreement. Find out whether the firm has a good plan of ensuring that you get maximum profits from your investment. Ask the management the marketing strategies they use and find out whether they are familiar with the current market. That will enable you to know whether they reliable managers.

2. Consider How They Advertise Property

One of the reasons for hiring an expert to manage your property is to improve tenant occupancy. However, that will only be possible if the property manager you hire uses effective marketing strategies. If they don’t, most of your houses will sit empty, leading to significant income loss. Therefore, before hiring a property management company, determine whether the firm has invested in experts who know how to advertise property expertly. If they do, you can entrust them with the management of your property.

3. Consider Their Maintenance Plan

Renovating damaged components or appliances when a problem has worsened costs significantly higher. That is why you have to ensure that the property manager you hire has put the proper measures in place to prevent damages. If the management firm has written a plan of regular inspections, it shows they will take good care of your property.

4. Consider How They Handle Finances

Check the company’s policies to ensure that they handle finances transparently. For example, find out whether they restrict their clients from accessing information about their rental payments. If they can’t allow you access to your accounts whenever you want, they might not be the best choice.

5. Consider How They Treat Their Clients

Reputable property management firms value their clients. As a result, they give their customers the freedom of contacting the management whenever they want to raise an issue about their property. If the firm you approach does not offer these privileges, keep searching until you find a company that will allow you to contact the higher management whenever you want to discuss the condition of your property with them.

6. Consider Whether They Manage Property Similar to Yours

If you own a story building, make sure that the manager you hire manages a similar property. That is because managing more houses requires additional skills and experience. Therefore, you have to ensure that you entrust the management of your property in the right hands.

7. Consider How They Communicate With Client

Even if you might be busy attending to other duties, you need to update what is going on with your property constantly. Therefore, the company you hire should provide detailed reports of your building’s needs and their intended changes.

8. Consider Where The Management Company is Located

If the property manager you hire is located far away from your building, they might not offer quality management services. Therefore, it is advisable to hire a manager whose offices are located in the same neighborhood as your property.

If you want to hire the right property management company, consider the tips above when conducting your search. That will enable you to hire the right manager who will manage your property professionally.

OCTOBER 18, 2021 BY JACOB MASLOW (found in

Single-family Rentals Drive all 2021 Rent Increases

to the surprise of many, the general rise in rental home prices is not actually reflective of the entire market. This year's overall rent increases are coming solely from single-family rentals, while apartment home rental prices are actually decreasing. The price of apartments nationwide has actually decreased by 2.3% since January.

According to Jonas Bordo, CEO & Co-Founder of Dwellsy, "Due to COVID19, renters want more space and control over access to their homes, and this has led to substantial new demand for single family rentals. The supply of these properties is relatively unchanged--maybe even down, due to the hot single-family sales market--so rent for this asset type has gone through the roof in 2021." Dwellsy's data shows that single family rental prices are up by 15%, driving an overall increase in median rent by 9.6%.

For the full story click on this link: https://finance.yahoo.com/news/single-family-rentals-drive-2021-170000671.html

According to Jonas Bordo, CEO & Co-Founder of Dwellsy, "Due to COVID19, renters want more space and control over access to their homes, and this has led to substantial new demand for single family rentals. The supply of these properties is relatively unchanged--maybe even down, due to the hot single-family sales market--so rent for this asset type has gone through the roof in 2021." Dwellsy's data shows that single family rental prices are up by 15%, driving an overall increase in median rent by 9.6%.

Putting money in single-family rental properties can be a lucrative investment, but it is not without its risks. To get the most out of your investments, you must be aware of these risks and prepare for them accordingly. This article will address six important tips that will help you invest wisely.

1.DETERMINE IF YOU HAVE THE FINANCIAL MEANS TO INVEST IN RENTAL PROPERTIES

2.CONSIDER YOUR GEOGRAPHIC LOCATION AND DESIRED LEVEL OF RISK

3.RESEARCH DIFFERENT MARKETS FOR POTENTIAL INVESTMENT OPPORTUNITIES

4.GET FINANCING FROM A REPUTABLE LENDER WHO SPECIALIZES IN SINGLE-FAMILY RENTALS

5.FAMILIARIZE YOURSELF WITH THE PROPERTY MANAGEMENT COMPANY THAT YOU ARE GOING TO HIRE

6. UNDERSTAND THE RISKS ASSOCIATED WITH OWNING SINGLE-FAMILY RENTAL PROPERTIES AND HOW TO MITIGATE THEM *

FOR THE COMPLETE ARTICLE CLICK ON THIS LINK:

https://vivaglammagazine.com/6-important-tips-on-how-to-invest-in-single-family-rental-properties/