Thursday, April 17, 2014

Brevard County, Florida Rental Property Owners: Should you go owner managed or hire a property management company?

Rental property management is not something I would ever want to do and is exactly why I only provide tenant placement services for owner managed residential real estate in central Brevard County, Florida.

Sometimes I believe there are some prospective tenants who are under the mistaken belief that owners of rental property operate like a charity.

Most often the owner of rental properties is an investor who has a goal of making a return on their investment.  This should be no surprise to anyone.

Sometimes the owner is an individual who has to be out of the area temporarily or who has moved due to a job change who is choosing to rent for the time being rather than sell.

But the goal or motivation of a rental property owner really should be of no concern to a tenant.

With that said, I always recommend my buyers use a full service property management firm.

There are lots of rules to be followed including the the fair housing laws as well as fair credit regulations.  In Florida there is the Florida Landlord and Tenant Act.  

Land lording is not what is is all chalked up to but many owners do it well.  These are owners who know the rules, approach it like a business, enforce the rules and treat all fairly

Visions of easy money (always on time money) and the perfect tenants who take care of your house as if it were their own are most often part of the first time landlord dreams.

But don't let me discourage owners who want to tackle their own property management.  I recently had an owner who had a tenant I placed leave - after seven years!

If you are a property owner looking for a property manager in Brevard County, Florida, please give me a call.  I will be glad to give you a couple of companies to call.