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How Professional Property Managers Get You A Better ROI | Orlando, FL

How Professional Property Managers Get You A Better ROI

When many investors buy their first rental properties, they plan to manage those properties themselves. For some owners, that may make sense at first. It doesn’t take long, though, to see how big of a time investment that really represents, and how quickly expenses add up for owners who only have a couple of properties. Rental property managers handle large numbers of properties and they benefit from volume discounts, dedicated staff for issues like maintenance, legal compliance, and collections.

Your Time Is Valuable

Obviously, most investment property owners are capable of managing these issues on their own, but the real question is, how efficiently can they handle them? Professional rental property managers are continually updating their knowledge and have vast experience in applying that knowledge correctly, so they get the job done faster and with a higher degree of accuracy. You could spend hours of your own time researching federal and local laws on complex issues like ADA compliance and service animal requests, in order to know how to correctly respond to a given tenant. That’s not the most efficient use of your time, though, and your time has value. Wasting your own time reduces the real return on your investment in rental property.

Rental Property Managers Bring Better Value

In addition to saving your time, professional rental property managers cut costs for things that have to be done, no matter who is managing the property. By negotiating volume rates from vendors, they get repairs handled at a lower cost than an individual owner can, and in many cases, they get higher priority on the vendors’ service call lists, so the repairs are done sooner.

Rental property managers can also streamline time and costs on matters like advertising vacancies and screening prospective tenants, collecting late payments, handling routine inspections, and taking care of move-out cleanings and repairs. That’s because their team includes people whose entire job is to focus on one of these areas, and you’re paying only for a small amount of that team’s time, expertise, and resources.

Orlando Property Management Delivers Better Profits

If you’ve purchased an investment property in the Orlando area, or you’re researching whether this type of investment makes sense for you, give Belmont Management Group a call or contact us online for a consultation. We’ll explain how your rental property can bring you the best possible profits for the least investment of your time, and lowest ongoing expenses.

Make Rental Property Maintenance Less Stressful | Property Management

How To Make Rental Property Maintenance Less Stressful

If you’re an owner taking care of your own property management in the Orlando area, you’ve probably already learned how much demand on your time and budget rental property maintenance can be. Especially if you own multiple investment properties, maintenance and repairs can eat into your time and sanity very quickly. Planning in advance, before any new need arises, you can get those worries under control.

  • Have a request system – Create a request system that works for you. Maybe you want tenants to make requests by phone at your business office, or to send an email or fill out a form on your website. Whatever works, as long as everyone knows how to make requests properly, and that way you won’t respond to sticky notes on the face of their rent checks.
  • Have vendor contracts in place – It’s important to realize that when you’re doing your own property management and hiring vendors to do maintenance and repairs, you’re essentially acting as a general contractor, and you can benefit by taking some cues from the way general contractors deal with their subs. Make contacts and keep a preferred vendor list, and ask for volume and loyalty discounts. 
  • Track service calls & vendors – Keep detailed records of service calls, including issues and solutions, costs, turn-around time, and any other key information that may help you fine-tune your budget and vendor list in future. 
  • Follow up with resident & share feedback with the vendor – Vendors don’t tend to get a lot of feedback from end-users, so if your tenant has something great to say about one of your vendors, be sure to pass it along. It’s another way to build stronger relationships and loyalty across the board.

Consider Professional Property Management in Orlando

One advantage of working with a professional property management firm is that they should have maintenance professionals on staff, and volume contracts with any outside vendors they use. At Belmont Management Group, we have trained maintenance staff that is familiar with our high standards and expectations, and 24/7 coverage, in case an emergency arises. Call or contact us online to schedule a free consultation and learn more about how working with professional property management can help you earn more while spending less time stressing about your investment property.

Hurricane Matthew – What Central Florida Residents Need to Know

As Hurricane Matthew inches closer, Central Florida residents are stocking up on supplies and frantically checking the weather for updates. If you’ve made it out to the grocery store, then you probably already noticed the crowded parking lots, dwindling water supplies, and nearly empty shelves, but is all this scrambling necessary?

 


Hurricanes should never be taken lightly, and the staying “it’s better to be safe than sorry” rings especially true for Hurricane Matthew. A hurricane’s path can be unpredictable, so it’s important to have all necessary supplies on hand should conditions take a sudden turn for the worse. Indeed, most of Central Florida is already under a hurricane warning, and there is speculation that Hurricane Matthew could become a Category 4 storm by Thursday evening or Friday morning.

What should we expect in Central Florida?

Hurricane Matthew’s expected impact on Central Florida is still largely unknown. Forecasters believe we’ll see roughly four to seven inches of rain, though this number may change depending on how close the storm comes to land. Heavy rain, high winds, and power outages are to be expected, and Governor Rick Scott has already declared a state of emergency for all Florida counties.

How should you prepare?

Should we loose power, you’ll want to have all necessary supplies on hand.

We recommend stocking up on all the below items:

  • Food and Medicine: Keep your pantry stocked with enough non-perishable food for you and your family (including pets!) to last at least a few days. Also be certain that you have all necessary medications ready, as pharmacies may be closed for a few days following the storm.
  • Water: The American Red Cross recommends having one gallon of water per person per day.
  • Emergency Supplies: It’s a good idea to stock up on flashlights, batteries, and first aid supplies. Also be certain that your portable cell charger is ready to use, as you many need the extra battery life to call loved ones or emergency services.
  • Money: Power outages may prevent you from being able to withdraw money from the bank, so we recommend withdrawing some cash before the storm in case you need it.

prepare

The last thing you’ll want to worry about during a hurricane is whether or not you are prepared. We at Belmont Management Group are especially invested in the safety and comfort our tenants and owners. We encourage you to take all necessary precautions and remember that there is never any harm in being over prepared!

Steps to Handle an Eviction Process in Florida | Orlando Property Management Advice

Florida’s eviction process for nonpaying tenants is relatively standard. As a general disclaimer however, please keep in mind that your individual process may vary depending upon your tenant lease. Our Orlando property management team has outlined the most important points. Read more

How to Rent Your Home in an Orlando HOA – Advice from a Professional Community Manager

When purchasing a rental property within a community or homeowner association, your responsibilities are no longer limited to just the home itself. As a community member, you’ll be expected to abide by the rules and regulations of the association and pay either a monthly, quarterly, or annual fee. Benefits of having a property within an HOA include having access to recreational amenities, community events, and external maintenance services. Read more

Where to Buy Your Rental Home: A Guide to Investing in Orlando from a Professional Property Manager

As an Orlando Property Management company, we know that location is the foundation for success when purchasing a new rental home in the Orlando area. While we’ll explore additional investment strategies in future posts, today’s emphasis is on the harmonious relationship between your property’s location and your real rate of return. Read more

How to Find the Best Tenants for your Orlando Rental Home

At Belmont Management Group, we believe the tenant screening process to be one of the most important rental management procedures we have available, and we are both thorough and vigilant prior placing tenants in our Central Florida homes. Read more