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Property Management Blog

6 Tips to Get More Rental Income – Orange Park Property Management

Four andhalf.com - Thursday, September 15, 2016

Landlords often ask us how to get more rental income on their properties. Today, we are sharing some tips that are easy to implement. When you take these steps, you’ll be able to get more rental income and find high quality tenants faster.

Curb Appeal

Curb appeal is a huge factor. Making minor landscaping adjustments like mulch, cleaning the flower beds, mowing, weeding, and trimming all the bushes will make your property stand out. Those kinds of things can have a huge impact on the curb appeal of your home. If someone drives by and everything looks overgrown, they won’t want to rent it. So, clean and mow the front yard and make sure everything looks good.

Make Sensible Improvements

Another thing to keep in mind is that you don’t want to over-renovate. For example, it’s better to use tile instead of hardwood on the floors. Tile is less expensive and not as easy to damage. Focus on kitchens and bathrooms when you make upgrades. Those are the areas that sell the homes. Update faucets and fixtures, and put in modern kitchen appliances. These things will get you a greater return on your investment.

Don’t Replace When You Can Repair

Repair items instead of replacing them. Clean your carpet before you rush to replace it. With a good carpet cleaner, you can make a dirty carpet look brand new. Try to do touch-up painting instead of painting the whole house. This can save you money. Using a dry eraser can even work on some rough spots.

Keep a Clean Home

Make sure the house is clean before you show it. You want the ceiling fans to be wiped down and the bathrooms to be sparkling. Be sure to wipe down the baseboards. Especially in a vacant home, those things will stand out when someone walks in and looks around.

Broaden Your Tenant Pool

Allow pets. A lot of tenants consider pets as part of the family. Use a pet fee and allow pets in your home because that gives you a greater market pool. Do what you can to keep tenants happy. Less turnover will help you get more rental income. Give gift cards at Christmas, and pay prompt attention to repairs and maintenance. Consider offering your rental to Section 8 or HUD tenants. That will also bring you a wider array of potential tenants.

Property Management Orange Park

Last and most important, let your property be managed by a professional Orange Park property management company. This will make a major difference in bringing in more rental income. These are just a few suggestions on how to earn more rent. If you have any questions about this topic or anything pertaining to property management in Orange Park, FL, please contact us at Zenith Realty.

Steps in Getting the Best Tenant in Orange Park, FL: Tips from a Property Management Company

Web Admin - Thursday, January 07, 2016

Today we are talking about the steps you need to take when you’re finding a good tenant for your Orange Park, FL rental property.

Rent Ready Condition

Start with the property itself. The rental home needs to be clean on the inside as well as the outside. You want to create inviting curb appeal that good tenants will find appealing. Take lots of pictures for your advertising. Many prospective tenants look for rental properties online, and they are going to look closely at your pictures when they’re deciding whether to go and see the home. You need plenty of photos otherwise tenants will pass over your listing.

Competitive Pricing

Make sure the property is priced correctly. An overpriced property will sit vacant on the market for much longer than it should. Reliable, qualified tenants will have an idea of what the rental price in the area is, and they will not bother to see the overpriced properties.

Tenant Screening

When you’re talking to prospective tenants, ask them why they’re moving and when they plan to move. Ask if they have given notice at their current residence and ask for employment and income information. You will want to verify everything the tenant tells you once an application is filled out, but these questions will give you an idea about whether a tenant is qualified and respectful enough to give notice to the current landlord. It can provide a clue to what kind of tenants they are.

Additionally, your screening process should include looking at credit, past rental history and background. Do a criminal check and talk to current and previous landlords and employers. When you are screening tenants, make sure you’re using the same criteria for all applicants.

The bottom line to finding a good tenant is this: don’t make quick decisions. The more work you do now means there will be less work for you later.

If you need help finding a great tenant for your rental property, we can help you. Contact us at Zenith Realty Property Management in Orange Park, FL with any questions.

Should Landlords Purchase a Home Warranty for Jacksonville Rental Properties?

Web Admin - Wednesday, October 28, 2015

Today, we are discussing whether purchasing a home warranty for your rental property is right for you. Owning a property can be costly if you’re not prepared for unexpected expenses. Hidden maintenance and general maintenance on a regular basis can add up and be a headache for homeowners who are not prepared for those expenses. Home warranties are geared towards owners with a single family residence instead of investors because investors with a number of properties often have the cash reserves to cover those expenses.

Warranty Benefits

Warranties can stabilize your maintenance costs so you aren’t caught off guard with a large expense. For example, if your air conditioning goes out and needs to be repaired or replaced, the warranty will cover it. It will also cover a leaking roof or a major plumbing or electrical issue. Even small things such as garbage disposals and refrigerators are covered under most home warranties. They tend to be better for older homes because new homes often have new appliances that are still under manufacturer warranties. When homeowners don’t like to make decisions about repairing or replacing a broken item, warranties can take the guesswork out of these situations for property owners.

Exclusions

One thing you always want to check is exclusions. Not everything will be covered, and you need to know what is excluded. For example, most warranties will not cover repairs on a water softener that is leased.

Maintenance Staff

Some warranty companies use outside vendors and others use their own maintenance staff. They might have a department within the company and that be an advantage because it can help them prioritize the needs of customers and schedule accordingly.

Costs

Prices for home warranties can start from $350 and higher per year. The cost may change depending on the call fee you select, which ranges from $45 to $100 per trade call. You also may want to cover other items like pools, pool equipment and things that are not normally covered by your warranty. Additional coverage will cost extra.

Review all the terms and conditions before you purchase a home warranty, particularly the costs and exclusions. If you have any questions about which warranty to choose or you’d like additional help, please contact us at Zenith Realty.


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The Coffey Group
1855 Wells Road, Suite 8
Orange Park, FL 32073

Phone: (904) 215-4432
Fax: (904) 215-4661

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