Orlando's excellent public schools, sunny weather, and many outdoor activities make it one of Florida's best places to live, according to Niche.com. It's also one of the best areas to be a landlord, considering the renter population exceeds the homeowner population: 60% vs. 40%!
However, if you're considering becoming a landlord in Orlando, you must understand that its duties can quickly take over your time and life. Fortunately, you don't have to do everything alone. With full-service property management, you can generate excellent rental income stress-free.
Read on as the PMI Main Street Mgmt team explores the benefits of full-service property management to help you understand why working with the pros can be a game-changer for your investment.
Full-Service Property Management Services Explained
Full-service property management is a comprehensive approach to managing rental properties. It involves everything needed to rent a property, from pricing analyses to tenant move-outs. Whether you own residential, commercial, or mixed-use properties, choosing property management service providers specializing in complete solutions can make managing your properties manageable.
Advantages of Property Management Delivered by Pros
Investing in professional full-service property management provides several notable benefits:
- Time-saving
- Real estate expertise
- Financial management
Let's explore each perk in more detail.
Time-Saving
Full-service management frees you from one-time and ongoing operational tasks, including:
- Rental pricing analyses
- Property marketing and advertising
- Tenant screening and placement
- Lease enforcement
- Rent collection
- Property inspection, upkeep, and repairs
- Eviction
Your property manager will also ensure your residents comply with the conditions of their lease, including their maintenance responsibilities. They'll do this through routine inspections, letting them confirm how your residents use and treat your property.
Real Estate Expertise
Property managers are real estate and leasing experts who:
- Continuously monitor Orlando's real estate landscape, including fair market rents (FMRs)
- Understand federal, state, and local laws on rental housing
- Work with vetted and licensed building contractors and vendors
So, with a full-service property manager on your team, you can worry less about overpricing and being unable to attract good tenants due to exorbitant rates. You can also enjoy peace of mind, knowing your property is legally compliant and in the hands of experts who'll keep it in top shape.
Financial Management
Real estate can be an excellent long-term investment because of its tangibility and practical use. Investopedia even says it can lower your portfolio's volatility while providing higher returns per unit of risk.
However, real estate can only be a sound investment if you can effectively manage its financial side:
- Rent collection
- Operational expenses
- Accounting and bookkeeping
- Tax filing
If you have little time to complete all those tasks, a full-service property management firm can take over them for you.
Ready for Hands-Free Investment Management?
Becoming an investor and landlord in Orlando, FL, doesn't have to be daunting. By choosing a full-service property management firm, you can step back, watch your investment flourish, and earn income in a stress-free, hands-free way.
Christian and Paige Trani, the owners of our full-service real estate management firm, PMI Main Street Mgmt, are happy to manage your Orlando properties. They have over 35 years of combined expertise and knowledge in real estate management, which they'll use to ensure your rentals thrive.
Call us today for a free consultation and learn more about our work and how we can help!
