Osceola County is a popular place for investment properties, and owners buy here whether they live in Florida, outside of the state, or even outside of the country. The market is strong for rental property, and it’s an excellent place to either buy your first investment or add to your growing portfolio.
If you are investing from out of state, it’s important that you partner with a professional Osceola County property management company. You should also get comfortable using technology and communicating online and electronically.
Today, we’re sharing some of the ways we protect local investments for our distant owners.
Local Marketing and Leasing Resources
Managing a vacant home from afar can be nearly impossible. You need to advertise and market your property, answer questions from prospective tenants, show the home, and walk the tenants through the application process. Traveling into town to take care of this can be expensive and time-consuming, and you’ll need to stay long enough to conduct the move-in walk through and sign the lease. You’ll also need to keep your security deposit funds in a local Florida bank.
Protect your investment and your time by hiring a local property management partner to take care of the leasing process for you. With someone close to your property, you won’t have to worry about showings and screenings and security deposits.
Managing and Maintaining Your Investment
A local property management company can also be invaluable when your tenant is in place and your property needs to be managed throughout the lease period. Property managers can collect rent, enforce the lease agreement, respond to routine maintenance, and be available for emergencies. You need these local resources when you’re not geographically close, and your tenant needs to have an emergency contact who can respond right away in case something goes wrong.
Investors who are outside of Osceola County need to find a property management company that routinely inspects properties, has a reliable network of vendors, and a good reputation for communicating with and responding to tenants. You need an expert who can preserve and protect the condition of your investment property.
Utilizing Technology to Communicate
Another vital thing that out-of-state investors need to protect their rental homes is access to great technology. You’ll need a management company that provides online portals for owners and tenants. While your tenants can use their portal to pay rent and make maintenance requests, you can use your owner platform to follow the performance of your property. You’ll be able to access repair invoices, review lease documents, see photographs from inspections, and send and receive messages. You will also want to be sure you can receive your rental payments electronically.
The most important tool for a non-local investor is an experienced, proactive Osceola property management company. Smart investors know that professional management can save money and increase ROI, but it’s especially critical to investors who don’t live in the same town, state, or even country as their investment properties.
We have a lot of experience with absentee landlords and distant investors. If you’d like to talk more about how we can help you protect your property, contact us at Park Avenue Property Management.