Vacancies are expensive for Tampa investors, and you want to avoid them as much as you can. When your rental home is not occupied by a tenant, you aren’t earning any rent. In addition to the loss of rent, you’re paying out of pocket for utilities, landscaping, cleaning, and everything else that’s required to keep the property in good condition while you’re looking for a tenant.

Rental property maintenance is a fact of life for all Tampa landlords, no matter how new your property is or what kind of condition it’s in. You’ll need to be prepared to respond to routine and emergency repair requests from your tenants.

Deciding whether to sell or rent out your investment property depends on a number of factors, including the strength of the real estate market, your financial position, and your short and long term investment goals. There are strong arguments for each decision. Today, we’re reminding you to consider cash flow, ROI, tax liabilities and benefits, and the time and effort required to effectively manage a rental property.

Eviction is usually a landlord’s last resort when a tenant isn’t paying rent or following the terms of the lease and needs to be removed from the property. We always encourage our owners to avoid eviction whenever possible. It’s expensive, time-consuming, and difficult. However, if tenants are uncooperative, you need to remember that your main goal is to get possession of your property again as soon as possible. Sometimes, eviction is the only way. In Tampa, the eviction process is fairly straight-forward.

An accidental landlord is one who inherits a property, or doesn’t intentionally invest in real estate in order to rent it out. Maybe you own a home in Tampa and you’re leaving the area, but instead of selling the property, you’re going to hold it and rent it out. Or, a family member has passed away and left you a property. When you’re left with a home that you decide to rent out, you need to be prepared for everything from tenant screening to emergency maintenance. We have some tips today on how to manage your new responsibilities as a landlord.

You’ve probably heard some horror stories from landlords who were left to deal with horrible tenants, excessive property damage, or expensive lawsuits and disputes. Or, maybe you have experienced some of these things yourself.

Whether you’ve inherited a rental property or you’ve invested intentionally, you’ll need to decide whether you want to manage that property on your own, or hire a professional property management company to do it. If you decide to self-manage, you’ll need to have the time, skills, vendor relationships, and expertise to manage your home effectively. If you decide to hire a professional management company, you’ll have to be sure you’re willing to let someone else make the decisions and take the actions that will keep your property protected and profitable.

When you’re working with a great property management company, you hardly have to think about your investment property. Rent is coming in regularly, you know the home is being well-maintained, and your property managers respond to you promptly and completely when you have a question.

Working with a professional property management company in Tampa can help you achieve a more successful investment experience. You’ll have a great tenant, consistent cash flow, and the peace of mind that your property is being well-maintained. If you’re not sure where to find a great property manager, we have some recommendations for you.

Security deposits can be tricky for both landlords and tenants. If you’re going to have a tenant dispute, it’s likely […]