According to Niche.com, Orlando, FL, is worthy of a high overall grade of A, as it's one of the best places to live in the United States. Some of its most notable features are its impressive public schools, diversity, nightlife, weather, and outdoor activities. It also doesn't hurt that, despite being a popular destination, the rent here isn't exorbitant, with the median being just around $1,500.
So, if you're considering investing in rental real estate, look no further than Orlando. However, remember that efficient leasing management is essential to maximizing your return on investment (ROI).
Read on, as our team at Verandah Properties will explore the top property management tips to help simplify your leasing processes.
Obtain a Free Property Analysis
Effective leasing processes for rental property optimization start with an accurate valuation. After all, if you set your rental rate too high, you'll put off prospective tenants. If you set it too low, you'll significantly cut your income and profits.
The best, most efficient way to conduct a rental property valuation is with the help of real estate experts. They use the latest technology and innovative lease administration tools for accurate valuations.
The best part is that if you partner with the right experts, you can get a valuation for free. At Verandah Properties, we offer our clients complimentary rental property analyses.
Invest in a Landlord-Tenant Portal
To perform many lease-related tasks online, consider investing in a landlord-tenant portal. With this technology, you can:
- Process and collect rental payments through digital methods (online card payments and e-checks)
- Track rental payment statuses (on-time, processed, and delinquent payments)
- Communicate with tenants (answer inquiries, send payment reminders, schedule inspections, etc.)
- Allow tenants to file maintenance requests online
- Store and quickly access crucial lease documents online
Since a portal benefits renters, it's also an excellent tenant relationship management tool. They'll likely appreciate you better for giving them more options to pay rent, especially if you factor in the increasing adoption of digital payments in the United States. Per Forrester, nearly seven in ten American consumers used digital payment methods in 2023.
Outsource Leasing Management to the Pros
The quickest way to simplify your processes with efficient leasing management is to hire a professional property management firm. They can oversee and conduct all lease-related tasks, including but not limited to:
- Property analysis
- Marketing
- Tenant placement
- Lease enforcement and renewal
- Property upkeep
- Eviction
With a leasing manager, you'd no longer have to deal with a 24/7 landlord job. You'll still earn like a landlord, except someone else will do most of your duties.
Team up With Verandah Properties
Getting an accurate valuation and investing in a landlord-tenant portal are some of the best strategies for efficient leasing management. But if you want the simplest, most convenient way to manage your rentals and lease contracts, your best bet is to go with the pros.
Verandah Properties is a full-service property management company that has served Orlando and Central Florida for over 25 years. With our extensive industry experience, in-depth local knowledge, and state-of-the-art technology, we can help you save time while maximizing your rental income.
Connect with us today to get started on your free rental analysis!