RentCare Property Management launches THE BEST Property Management Real Estate Agent/Broker Referral Program in Central Florida.
RentCare has been managing residential income-producing rental properties in Orange, Seminole, Osceola, Lake, and Polk Counties for 25 years. Through
the years, they've met numerous real estate agents, in an effort to protect their relationship with their clients, have attempted to manage the properties
Unfortunately, they've subjected themselves, as well as the property Owner, to incredible and unnecessary liability.
As a result, we've decided to implement a Best-In-Class Referral Program that will help agents make money while maintaining a relationship with their clients.
We will contact you to review your client's needs prior to contacting them.
We will contact the client within 24 hours of receiving the referral.
We will provide an honest, comprehensive market analysis.
We will thoroughly discuss our management program and work to establish realistic expectations.
We will disclose all costs involved up front.
We will maintain open communication with all clients to help them realize their goals and satisfy their property management needs.
We will treat your client with the utmost respect and give them the care, diligence, and attention they deserve.
We will always respect the fact they are your client and they will remain your client. If they decide to sell the property or have
additional real estate needs, they will remain your client. No matter how long we manage their property, they will always remain your client.
Referral Compensation for REALTORS®
We will pay you 25% of the Leasing Fee, and...
We will pay you 25% of the first year's Management Fee every month. This ongoing residual income is designed
to compensate you as you maintain your relationship with your client.
Tell me if you're currently in this situation: You have a property on the market, you've lowered a price a few times, but for some reason, it's just not
This happens quite often, in fact. You're not alone.
The problem, as you know, is you're not getting the target price you want, but it's sitting there empty.
Depending on your circumstances, of course, you may want to consider hiring a professional property manager, getting someone in there to rent, generating
some positive cash flow, and trying again in a year or two. By then, the market may rebound and you could get the price you want, or better.
Some owners believe they should manage their property themselves, but there are certainly a number of pitfalls with that. Ones you may not even be
aware of. We'll be doing a series of videos on your YouTube Channel in the coming weeks/months about how to manage your property and what to
If you do decide to avoid the hassle, time, and liability, and if you live in the Central Florida area, be sure to give us a call at RentCare Property
Management. We can do a FREE evaluation on your property to determine what your property can generate for rent, and we'd be glad to talk to you
about how we can actually save you money.
I can be reached via cell at (321) 251-4740 or firstname.lastname@example.org.
You may be managing your rental property yourself, or you’re in the process today looking for a property manager, one that includes more and costs less.
As you may know, there are many things to consider when owning income-producing residential real estate. Today, however, we're presenting just 13 Considerations When Owning & Managing a Rental Property:
1. NARPM - the National Association of Residential Property Managers
If you are looking for a Property Management company, make sure they are members of NARPM. And even if you’re just managing your own property, consider joining. It’s about the education, the networking, the designations and learning how to navigate all the landlord tenant laws. With NARPM, you’ll have access to resources to get all your questions answered and to help you think of things you’re not even aware of yet.
2. Knowing what to charge for rent
This is about maximizing the amount of money you can charge for your type of property in your market. If you try charging too much, the property may sit empty for longer than expected. If you try charging too little, you may leave money on the table and that can hurt your cash flow.
The key here is doing a thorough Comparative Market Analysis. And this isn’t about making a few phone calls posing as a potential renter to your competitors. There’s a lot more to it than that.
3. Marketing the property
What is your plan to market your property? Do you have a system? There’s a lot more to it than just putting it up on Craigslist and hoping for the best. For example, we have a system at RentCare property management where we post your property on dozens of different sites, all at the touch of a button. The major benefit here is we will market your property where the ideal tenant is looking, and it’s not always on Craigslist.
4. Finding and Vetting a Tenant
Once you get some interest in your property, do you have an application process? And when you get those applications, are you looking into their financial history, rental history and are you doing criminal background checks? This is another one of those areas that if you have a system in place, it can save you time, money and lots of headaches down the road.
5. The Lease
Did you download your lease from some website online? Or is the lease like ours at RentCare, that's based on 25 years of experience and reviewed every year by an attorney that specializes in property management?
6. Move-in Inspections
These are critical. Document, document, document! Take pictures, record videos. It’s all about the details. We’re trying to avoid the “well, it was like that when I moved in” game.
7. Collecting Rent
Do you have a system for collecting rent? Is it easy for your tenants? Can they pay online? Or do you still live in the “checks in the mail” world? And, do you have an automated reminder system in place, as well?
8. Ongoing repairs & inspections
Do you have a network of local vendors? At RentCare, for example, with 25 years of experience in the area, we know what to look for and we’ve cultivated relationships with our vendors. We have vendors that go out of their way to respond to our calls. We trust they will give us an honest assessment. And trust like that doesn’t happen overnight.
And with inspections, you have to do them periodically throughout the term of the lease. This is about making sure everything is being taken care of and that your investment property will last for years.
9. Preventative maintenance
So important! And this isn’t just about air filters and smoke detector batteries. There’s SO much more than that. Having a thorough preventative maintenance program in place can save you thousands of dollars!
10. Lease renewal program
Do you review your tenant’s updated financial history. Their criminal history? Most owners avoid asking and answering this question: Do you actually WANT your tenant to renew? And, do you have automated reminders based on parameters in your lease?
11. Move-out inspections
Just like Move-in inspections, this is about paying attention to the detail. Document, document, document! "But, but,…that was like that last year!"
12. Handling Deposits in Escrow and Deposit disputes
This goes back to knowing the law. And if you don’t have access to resources, like NARPM, and if your lease isn’t really solid, you could get yourself in a lot of trouble. And, you could end up spending way too much money after-the-fact trying to navigate legal battles.
Look, evictions are horrible and expensive. They’re difficult for tenants AND for landlords. At RentCare Property Management, though, Evictions, backed by an attorney, are included in your management fee.
I invite you to take a look at RentCare Property Management. If you’re trying to go it alone and manage your own property, I’m very confident we will be able to actually save you money. Or if your current property manager doesn't have robust systems in place backed by 25 years of experience, please give us a call.
The RentCare Property Management team is excited to welcome new owners to the family!
Due to a recent job transfer, this Summerport (Windermere, FL / Horizon West, West Orange County) family recently relocated to Wisconsin. They were able to find a tenant to rent their townhome before moving and originally planned to manage the property from afar.
Relying on the RentCare team's 25 years of experience in successfully managing property throughout central Florida, they've decided to hire us for peace of mind. RentCare's vast network of vendor contacts and our ability to respond quickly to service requests and to project manage larger emergency repairs or maintenance issues through to completion reassures them their investment is protected.
Our team is now in the process of reviewing their current lease and setting up online access for both the Tenant and Owner with a portal where rent payments can be made and deposited directly into the Owner's bank account. We've also scheduled a property inspection to determine if anything needs addressed right away. In addition, we'll be scheduling preventative maintenance visits throughout the year to protect their investment property.
The majority of properties managed by RentCare are owned by out-of-state landlords. Peace of mind, to many, is incredibly valuable. And at RentCare Property Management, service is our strength.
If you'd like to learn more about RentCare and the services we provide, please contact Jason W. Hoyt, Director of Business Development for RentCare Property Management and CT Homes Realty, at (321) 251-4740 or email email@example.com.
Francisco Nieves and his team will be at Booth 528 discussing the advantages, as Realtors, of joining NARPM and ensuring that if anyone is looking for
property management services they need to make sure they hire a member of the National Association of Residential Property Managers.
Francisco Nieves has not only been a member of NARPM since 1999, he as served as Member Director, Vice President and President of the local Orlando/Central
Florida Chapter of NARPM.
As managers of residential rental property in Orlando for 25 years who reside in Summerport, directly across the street from the newest school in west Orange County, Florida, we proudly welcome our community's latest addition.
Our RentCare Property Management & CT Homes Realty team attended the Windermere High School Open House event on Wednesday, August 2, 2017 and were amazed. As proud parents of future Wolverines, we know our children will learn at a great school.
Principal Douglas Guthrie told News 6, "The community wanted the school built for a long time. Now its here; it's a beautiful campus. We are up to date with all technology, the buildings are absolutely gorgeous inside and out, the landscaping, the athletic fields, we're just very excited."
Our team had a great time at the event and put together a little video (above).
When landlords make mistakes, it’s often because they don’t know or understand what’s required of them and their rental properties. There are five specific things that landlords often don’t know about managing rental property in central Florida.
Fair Housing Laws
Fair housing issues are complex. You cannot discriminate against any protected class, including race, color, religion, national origin, sex, handicap and familial status. Additionally, you cannot put special stipulations in your lease that might violate fair housing laws. For example, imposing excessive inspections on a property where a tenant in a wheelchair lives can be a violation. Restricting the hours for which children can use the pool is also contrary to fair housing protections.
Many landlords are not aware that service animals are not pets. They are considered a prescription or a medical device. You cannot ask questions or restrict the type of animals that tenants use as service animals. This is a big controversy, but you must be aware of it.
Use licensed and insured vendors to make all of the repairs at your rental property. If you’re doing the work yourself, you are opening yourself up to lots of liability. If you do something wrong that causes harm to your tenant, you’ll find yourself in trouble. Your lease should reflect all of the tenant’s and landlord’s responsibilities when it comes to maintenance. The tenant has rights and can serve you a notice giving you seven days to solve a maintenance problem. If you don’t, they will have the right to cancel the lease. This can be very expensive for you.
The security deposit can often be a problem for landlords if they don’t understand the law. If you live out of state or out of the country, the security deposit you collect has to be kept in a Florida financial institution. You are not legally permitted to change the locks or turn off the water when a tenant doesn’t pay rent. Make sure you know what to do in cases that the tenant does not comply with the lease. Sometimes, you have a tenant who gets divorced and you release one of the parties from the lease. At the end of the lease, that spouse could come back and wants the security deposit. What will you do if you already returned it to the other person?
Landlords need to know how to screen tenants properly. You’ll need to look at credit and criminal reports and search for past evictions. Verify employment and talk to former landlords so you know how they paid rent in the past and whether they maintained the property. Investigate all prospective tenants thoroughly. Look at social media, the FBIs most wanted list and the sexual predator registry.
If you’re thinking about managing your own rental property in Orlando, there are several things you need to consider. We always recommend that you work with a professional property management company in order to save yourself time, headaches and legal liability.
You need to think about whether you have the time to manage all of the activities that are involved in property management. You’ll need to prepare advertising, find the most effective places to advertise, take phone calls and show the property. Once you have applicants who are interested, you’ll need to screen tenants and then prepare the lease and conduct the walk through inspection. Then, you’ll need to collect the rent every month and deal with unexpected repairs and tenant issues. Think about whether you really want to handle enforcing the lease and chasing down the unexpected non-compliance issues involving tenants. You’ll need to spend some time planning maintenance and organizing maintenance records as well as cash flow accounting.
If you are going to manage your own rental property, you need to be up to date with the building codes and requirements. You need to understand the fair housing laws and the Americans with Disabilities Act. You also need to understand the Fair Debt Collection Practice Act and the Florida Landlord and Tenant Act. You need to know what you can and cannot do during the eviction process. If you’re not sure how to handle these things, you can find yourself in court.
Your insurance coverage has to be adequate to protect you against liability. It’s important that you know what you can allow your tenants to do and what they can’t do. You need to have the correct smoke detectors installed and a mold policy has to be included in your lease. Make sure you’re on top of pest control so you don’t have problems with bed bugs and termites. Staying up to date with habitability standards in Florida is essential.
Inspecting your rental property is an important way for you to check on its condition and to make sure that your tenants are following the terms of your lease. Many landlords ask us how often they should inspect. We recommend that you visit your property at least three or four times per year.
The most important inspection is the move-in inspection. You must document the exact condition of the property before you give it to the tenant. Make sure you take lots of pictures, video and document in writing every aspect of the property’s interior and exterior.
After your move-in inspection, you’ll want to do periodic inspections every quarter or six months. Visit the property, interview the tenant and make sure you take additional videos and pictures. Then you can assess any preventative maintenance that is necessary to avoid costly repairs in the future. Before the end of the lease, the tenant must give you a notice of renewal or non-renewal. If the tenant decides to stay in your property, go inspect it at that point. Make sure you look at how well the tenant has been caring for the home, and decide if you want the tenant to be there for another year.
The move-out inspection needs to be just as detailed as the inspection you conducted before the tenant moved in. Cover every aspect of the property, inside and outside. Take pictures, video and document in writing every single part of the house. The move-in and move-out inspections are what you’ll use to compare property condition. This will tell you if there is any damage that the tenant is responsible for.
Don’t forget to leave room for normal wear and tear. If there is damage, you have the right to claim it against the tenant’s security deposit.
Establishing a clear and consistent rent collection policy will help you avoid late rental payments and endless tenant excuses. There are a couple of
things you can do to ensure that your tenants understand the importance of paying rent on time.
The grace period is something that most landlords incorporate into their rent collection policies to allow tenants who cannot pay on the first of the
month to pay a day or two later without penalty. When you’re establishing a grace period, make it short and strict. Two or three days is usually the maximum
you want to allow with a grace period. Many landlords allow up to five days. Just remember that the longer you wait to collect rent from your tenants,
the longer it will take to remove a problem tenant. So make your grace period short and strict.
Penalties and consequences need to be included in a rental collection policy so tenants understand what will happen if rent is paid after the due date
and the grace period. Late fees should be firm but fair. In the State of Florida, they are not regulated, but judges do not like to see abuse. Don’t be
afraid to require a late fee, but make sure it’s fair and that you are consistent in collecting in.
Collecting Past Due Rent
There are several options available to landlords when tenants do not pay. These things should be included in your rent collection policy. You can send
the payment history to the credit bureaus, you can send the tenant to collections, and you can file for eviction and remove the nonpaying tenant. Ultimately,
you can sue the tenant for money owed and hope that someday they will pay that judgment. Tenants are human and they go through hard times like everyone
else. Be fair, strict, clear and consistent. With a good rent collection policy in place, you will avoid any financial and legal burdens. If you have any
question about collecting rent from delinquent tenants, please contact us at RentCare Property Management.