Orlando is booming. The region welcomes more than 1,000 new residents a week. Overall, it's growing faster than most U.S. metro areas.
People are flocking to Orlando for its warm reason, diverse culture, and college and job prospects. That also makes it a great area for property owners and investors.
But there's a difference between getting the most out of your property and just renting it out.
How can you maximize your investment? You need a full service property management company to aid you. Here's how you can use one to maximize your investment.
Know What You Have
It helps to start with a desirable property. Really, this should be where you start if you want to get the most out of your rental property. What features stand out and make your property desirable to potential renters?
Sometimes it's more than the amenities. If your property is in a desirable place, such as a vacation hotspot, or near a college campus like the University of Central Florida, that's going to appeal to a lot of potential tenants.
You may want to consider reinvesting in your property, using the rental income for improvements such as replacing the carpet or repainting a room. This is something that needs to be communicated with the property management company.
Find a Property Management Service That Understands Marketing
Look for a property management company that understands how to market your property since effective marketing keeps your occupancy rate high. Ideally, once a tenant moves out, there should be no more than a few days of downtime before the next tenant moves in.
This marketing should include making sure your property is listed on multiple websites. But a good listing also includes high-quality photos to make sure your listing is eye-catching.
Pick a Communication Style
Regular communication with your real estate management company will be essential if you want to make the most out of your property. Seek a company that can be fully transparent about how they conduct business.
We have an online owner portal to help you see all of the information about your property. Just let us know how you prefer to communicate, whether by phone, text, or email, and we will keep you updated about everything going on with your property.
Good, thorough communication is essential for having a good occupancy rate, ensuring your tenants are satisfied, and being attentive to their needs. Good communication is the cornerstone of good maintenance too - especially preventative maintenance that can save you money on future major repairs.
Choose Verandah for Full Service Property Management
If you're looking to maximize the potential of your Orlando rental property, you need the kind of full service property management that only Verandah Properties can provide. Local owners and investors trust us with their property. From marketing and tenant screening to rent collection and maintenance, we can handle all aspects of managing your property.
Get started today with a free rental analysis.