If you are a multifamily or apartment rental property owner in Orlando, you may wonder why I should pay an Orlando apartment management company? Well, the short answer is, how much do you value your time?
Suppose you are an owner that has all the time in the world. In that case, you may be able to manage all the aspects of multifamily property management such as tenant issues, vacancies, leasing, maintenance requests, move-ins, move-outs, rent collections, marketing, the list goes on. As an Orlando apartment manager, we know and understand that to run a successful operation, you will need an apartment management company for your apartment community in Orlando, Florida. In this topic, we will go over a few of the many tasks an apartment property management company does for you as an Apartment Property Owner.
Renting a multifamily or apartment in Orlando is a specialized task and possibly the most important task; after all, an apartment full of vacancies isn't doing anyone good. You will need to take professional photos of your model unit and your apartment community. Your goal is to create a sense of community and property buy-in. If your apartment stands out from other communities in Orlando, you will get many more leasing leads who want to view your available apartments.
Tenant Apartment Screening
In a multi-unit community, one bad apple can spoil the batch. Our most valued process is tenant screening, approving, and placing well-qualified applicants. You must be confident in the tenants you are putting in your apartments, if you are not, or don't have your set qualifications, please reach out to us here at The Listing Real Estate Management, and we can point you in the right direction. You will need to place quality tenants; if you are not, other residents will be vacating the apartment and will be thoroughly disappointed.
Apartment Rent Collection
Collecting your monthly rents is easily an essential concept of apartment investing, and the success of your real estate asset. Your tenants will need to know how to submit rental payments. In today's age, all multifamily or apartment complexes will use an online platform to collect rent. Our team of highly experienced apartment property managers goes above and beyond by explaining our lease agreement and how tenancy and rental payments will operate. Of course, when they are due… on the 1st!
Multifamily Tenant Requests
As an Orlando property management company, we understand that tenants will express their concerns, maintenance requests, lease breaks, and the list goes on. As an apartment property owner, make sure you have a person or property manager who knows how to handle tenant requests. If a maintenance request comes in, how likely are they going to handle it? If a tenant breaks their lease, how will that affect you, and what are the penalties? Several requirements and requests need to be properly addressed and handled from a seasoned professional property management company.
Real estate investing is a numbers game. Suppose you have a real estate asset producing cash flow. In that case, it is crucial to know how the right property management company can increase your cash-flow, increase apartment rents, and add value to your asset. Your apartment property manager should be tracking, inputting, and discussing your property numbers. Your accounts should be reconciled to ensure there are no holes in your cash flow. Your property manager will need to send you owner statements monthly to ensure you know how your apartment property is performing.
Rental Apartment Inspections
Your Orlando apartment manager should know your property like it is their own. Periodic apartment inspections are essential in maintaining your real estate assets. Over time we have seen features continue to deteriorate. If anything, your apartment community should appreciate and remain in an upwards trajectory. Apartment inspections keep your tenants in compliance with your lease agreement. Move-in inspections are necessary for maintaining your apartment units. If a security deposit needs to be claimed to return your apartment to its move-in condition, you will need proper documentation stating the security deposit claim.
Orlando Apartment Compliance
Professional property management companies stay up to date and comply with National, State & County rules and regulations with managing rental properties. As property managers, we undergo extensive education requirements, and our property management company holds many of the highest accreditation standards. To stay in compliance, you must have a manager that will keep your property in accordance.
Onsite Apartment Property Management?
Depending on the size of your apartment community, you may want a front office with an onsite property manager. Your onsite managers will keep everything in order and remain the property running like clockwork. This is going to be highly dependent on how many apartments your community consists of. Our rule of thumb is that once you get to the 70+ units, an onsite manager may be essential to your property operations. This is all dependent on the class and condition of the building and your residents.
Apartment Property Management Conclusion
Property managers for apartment communities carry the weight of many tasks. As your specialized professional property managers, we focus on you and your rental property goals. If you are an apartment or multifamily rental property owner questioning your role as a manager or questioning your current apartment property management company, reach out to The Listing Real Estate Management, your trusted resource for apartment and multifamily property management services in Orlando and Central Florida. Cheers!