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What makes sense for your Venice FL rental property?

Venice Florida is wonderful place to invest in a rental property.   It is a tourist friendly city where many people come to stay for long periods of time to get away from the winter months in their home state.   Seasonal rentals can work out great for option to market to the snowbirds.   Annual rentals are a wonderful option if you don’t plan on using your property and want to maximize the profitability of rental income. 

In this blog we will explore the pros and cons of Annual versus Seasonal Rentals!

Annual Rental:  Pros versus Cons

Annual Rentals are always in high demand typically tenants are looking to rent for 12 month or longer.   This provides a sense of security to the Landlord or Property Owner. 

The Pros of renting for 12 months are:

• On average tenants will rent a home and stay for on average for 2 years.
• Annual tenants add stability to knowing who is renting your home for a fixed time period.
• There is typically less risk and maintenance issues due to fewer people utilizing your home.
• As a property owner you have a steady source of rental income.

The Cons of renting for 12 month are:

• You don’t get the huge rental income checks that you receive in a Seasonal Rental or short term rental.
• You have to respect the 12 month lease and not try to move tenants out early.   This would and can be costly.

Seasonal Rental:  Pros versus Cons

Seasonal Rental does provide some great flexibility if you desire to use your home for part of the year or not sure what month’s you may desire to leverage your property for your own vacation.  Let’s explore the pros versus cons for a seasonal rental.

The Pros of renting for 12 months are:

• If you are planning on retiring soon, but not sure exactly when.  Renting for seasonal provides you with the flexibility to not be locked into an annual lease.
• If you are working remotely and want to utilize you Venice Florida home for part of the year.
• You can charge more for you rental property during the popular seasonal months to the snowbirds.
• You can hire a Venice Property Manager to save you time, money and help you avoid potential problems in renting your Seasonal Rental.  Property Management companies have the expertise to marketing your home, screen and place tenants, ensure compliance with federal, state and local laws and ensure all maintenance and repairs are done in a timely fashion.

The Cons of renting for 12 month are:

• It requires much more effort to manage with multiple vacation renters coming through your home.
• Your maintenance costs could go up due to more wear and tear on the home with multiple renters.  If you can’t commit to paying maintenance repairs, then Annual might be a better option for you.
• More marketing efforts to constantly acquire more renters.
• If you are hoping to rent beyond simply Seasonal Rental, you may have more vacancies during the warmer months.

Our expert team would be glad to help you make the right decision and we would be glad to help you manage either your Annual Rental or Season Rental property.  Contact us today at:   Florida Suncoast Property Management, LLC

There has been a large influx in homes purchased in Southwest Florida this year.   Many home owners and property investors are deciding whether to rent their property annually or seasonally.   The other challenge is after you buy a rental property investment do you manage it yourself or hire a professional Venice Property Management Company. 

The challenge is, do you have enough free time to prepare and market your home, understand and manage the leasing process, and learn the complex property rental laws for Florida.  If you are not working, then this may be a good option. 

However, if you have a full-time or part-time career and live in another state, managing a family, another home and a whole gamut of other responsibilities, then considering hiring a Venice Property Manager would be the right decision. 

Venice Property Management – Your time versus money!

Do you want to spend all your free time managing a property when it is vacant?  What is your time worth? 

With a rental investment it takes the following tasks to get your investment property rented: 

• Get your home ready to show for tenants.
• Market your home on all the top rental online companies.
• Respond to applicants.
• Screen perspective tenant’s by doing background checks and call previous landlords for references.
• Performing Pet Screening if you allow pets.
• Taking Pet Security deposit.
• Taking Rental Security deposits.
• Preparing and signing leases and ensuring they are compliant with Federal, State & Local Laws.
• Collecting rent.
• Managing penalties when rent is not received.
• Managing evictions process if tenants stop paying their rent.
• Managing property maintenance as things break within the home.
• Performing home inspections to ensure tenants are taking good care of your home.
• Between tenants you must ensure proper cleaning and maintenance is done.
• Collect and Pay Tourist Tax.

At Florida Suncoast Property Management, LLC we save you time and money by managing all of these task, ensuring we only place highly qualified tenants in your home, maximize your rental income, provide you with direct deposits, share online accounting information and do a wonderful job maintaining your rental investment property.  We have over 30 years combined skills in property management and personally investing in real estate experience. We understand that you need the very best professional property management team to care for your properties. Our team is dedicated, honest and takes great pride in providing property management services in Southwest Florida.

Would you like to learn more about our Professional Property Management Company services in Venice Florida?  You can contact us anytime at Florida Suncoast Property Management, LLC.  We would be glad to answer all your questions or concerns and help you understand the value of our services. 

We would love to earn your business!

Boca Grande FL Gulf Coast Property Management – Will investing in rental properties continue to grow?

I believe reasonably priced long term rentals will continue to do well during these tough economic times in Boca Grande FL Gulf Coast.   Home owners may decide due to economic pressures to sell their home and go back to renting. If they no longer have to worry about taxes, home up keep, and other home maintenance expenses this may make renting a home potentially a good answer. This may in turn increase the demand for properties that require Boca Grande FL Gulf Coast Property Management assistance.

For vacation rentals, they will struggle some until the virus and case count drops.   Some people will be cautious about traveling and being in large crowds.   So, if you have vacation rentals, the secret is lowering your price some to beat out the competition.   Obviously, you want to try and optimize your rental potential and maximize your income potential.   If you need Boca Grande FL Gulf Coast Property Management help in marketing your property and assistance in managing your investment, Florida Suncoast Property Management, LLC would be glad to help!

 
5 Tips for Getting Your Boca Grande FL Gulf Coast Property Rented!

1. Ensure you property is well maintained!
   The marketability of your home is impacted by how well you investment rental home is maintained. Make sure all repairs are done when necessary to help maintain and/or improve the value of the property with little or no inconvenience to your tenants.
    

2. Market your property everywhere on the web!
With every investment property, you want to create your marketing plan to promote you Gulf Coast Florida property listing. It starts with doing a market analysis of your property to determine the fair market rental value. Once you set the rental amount, you must prepare your rental property advertisement and have professional pictures taken. You will want to list your rental property on the web and have is syndicated to numerous rental websites and social media platforms such as:

        Zillow
        Trulia
        Hotpads
        Homes
        Facebook and Much More
 

3. Understand how to place the right tenants!
The screening process is to ensure your Boca Grande FL Gulf Coast property is only rented to the best tenants. You want to ensure you have the right qualified tenants who pay rent on time, understand and follow the leasing terms, take care of your investment property and respect your neighbors.   If you are using a property management company, they should take great pride in placing the right tenant in your home!

 
4. Understanding the leasing process!
The lease execution, lease enforcement, lease renewal and potential eviction are all part of the leasing process.   Many home owners are not comfortable with managing leases due to not understanding all the laws impacting a tenant and owner rights.   Make sure your lease agreement is written in line with federal, state and local requirements to avoid any potential future problems with your tenant.
 

5. Avoid costly mistakes and legal fees!
Lack of knowledge of federal, state, and local laws and regulations can lead to legal fees and costly mistakes.

 
If this seems a bit overwhelming and you love your investment properties, but simply don’t want to manage these important tasks. Please feel free to contact Florida Suncoast Property Management, LLC. We would love to help!

You can see this post and others on Activerain at:  Boca Grande FL Gulf Coast Property Management – Will investing in rental properties continue to grow?