According to a recent rental market study, Florida added almost half a million rental units between 2010 and 2019. The growing number of renters means that real estate investors should have no problem keeping occupancy rates up.
However, the more properties you have to manage, the more difficult it becomes to juggle all those tasks. From maintenance to rent collection, a full-service property management company can help. Plus, investing in professional management means you can maximize your investments.
Here are three key reasons to look into full-service property management companies.
1. Fill Empty Properties Faster
The latest data from the United States Federal Reserve reveals that Florida's rental vacancy rate was 6.50% in January 2021.
If there's no one in your rental property, you don't have that stream of income to rely on. The longer the unit sits vacant, the longer you're left with the costs to maintain it.
However, the rental market in Florida is also competitive. You need to showcase the best parts of your rentals to entice applicants. A full-service property management company knows how to market your homes and reach your target market.
For one, they provide a rental analysis to inform you how much you can get for your rental property. They also create listings, take professional photos, and spread the word across rental sites, the MLS, etc., to help you fill those empty units.
2. A Professional Team to Handle Maintenance
Maintaining a property alone is a full-time job. Whether you own a single-family home or a multifamily building, there are always issues to address, from leaky pipes to broken air conditioning.
It's not reasonable to expect one person to have the skills to tackle every request, which is why having a team of professional in-house technicians makes your job much easier.
We can help streamline the work order process. You'll always receive records of each job, including a list of steps the technicians took to solve the issue, before-and-after photos, invoices, and more.
Property management services handle work orders in a timely and professional fashion, which cuts down on resident frustrations.
3. Eviction Protection
No one wants to deal with evictions, but they occasionally need to happen. Whether it's a tenant that didn't pay their rent or someone that broke their lease agreement, you'll need to follow the proper steps to evict them.
When you use a property management company, they'll handle signing and serving notices, recovering possession of the property, recovering rent, etc.
Evictions are one of the most stressful events landlords and property owners have to deal with, but it's easier with a team of professionals on your side.
Experience the Benefits of Full-Service Property Management
These are only three of the many benefits you'll see when you invest in full-service property management here in Manatee. In short, property management services make your job much easier, so you can focus on growing your investments.
Are you ready to get started and learn how to maximize your rentals? Contact us at Gulf Coast Property Management to see how we can help.
.png)