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4 Expert Tips For Getting Your Property Rental Ready & Managing Rental Properties

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Managing rental properties can be more intricate than you think, and requires careful planning and consideration – particularly when it comes to preparing your rental home for potential renters. With decades of experience in the property management industry, Greene Property Management understands what it takes to get your property rental ready. And what steps are required to ensure that you get the best return on your investment as a landlord. We share 4 expert tips for getting your property rental ready ensuring your rental home becomes an effective source of income and will be managed as effectively and efficiently as possible.

The Potential In The Rental Property Market – Volusia County

When assessing the feasibility of whether you should enter the rental property market – looking at the market trends in the rental sector would be the best place to start.

According to an article online published by the Observer Local News on 06 March 2024,  recent stats from a national rental website, Rent.com – indicated that data gathered throughout 2023 in Florida showed a 9.41% decrease in the prices of rentals. Although the decrease has not made rentals necessarily more affordable – it could potentially mean that consumers may find the competitively priced rental market more attractive in 2024. Rental income remains attractive for rental homeowners or landlords with the median rent still coming in at $2,095. 

For rental homeowners in Ormond Beach specifically – the rental property median, based on 90 rental properties that were listed on Zumper, is $2,350. This was largely attributed to studio rental home prices. While rent for homes with one to four bedrooms has decreased. 

The rental property market therefore presents a great opportunity for both landlords and tenants which is great news for landlords especially. Rentals may become slightly more accessible to tenants in terms of affordability while remaining feasible for landlords in terms of return on investment.

Managing Rental Properties: Checklist For A Rental-Ready Property

Now that we understand the potential for a good return on rental income, we need to get our rental property in tip-top shape!

1. Assess Your Property’s Condition

Take a good look at the condition of your rental property and draw up a checklist of things that need to be repaired, renovated, or replaced. Identifying areas inside and outside the home that require maintenance can include but are not limited to repairing any leaks, updating any fixtures, a new coat of paint, or even landscaping. By being proactive in getting the property into shape for tenants, you can make your property more appealing to potential tenants, while at the same time – streamlining managing rental properties more effectively.

Experienced property management companies can play an important role in both assessing and also co-ordinating tasks on maintenance. This will save you the stress and time of making your property rental ready which is essential in managing rental property readiness.

2. Enhance & Update Interior & Exterior Property Features

First impressions are lasting and this could not be more applicable to finding a home, whether you are renting or buying – this is a space that your future tenants want to call home. And therefore the perceived value renters have of your rental property will ultimately determine the type of renter you will attract and the price they are willing to pay monthly. By upgrading and enhancing the interior and exterior of your rental home, you are more likely to attract high-quality renters.

Landscaping, modernizing your kitchen, updating your bathroom, or replacing worn-out fixtures could add significant value to your rental property. Property management can be very beneficial in advising landlords on how to elevate the value of their rental property and may even have the best recommendations on the type of service providers to use based on their extensive network and experience in the property management industry.

3. Setting Competitive Rental Rates

Setting a competitive rental rate is important to attract potential renters. Managing rental properties should be profitable but should also be in line with the recommended rental rates in your area or neighborhood. In addition, the current rental rates for properties that are similar to yours should also be considered.

Property management companies can alleviate the pressure of doing this analysis yourself as they are experts when it comes to demand and ever-changing market trends in the property industry. By working with a reputable property management company – you can rest assured that your rental rate is set competitively and occupancy is maximized, both key aspects in managing rental properties.

4. Setting Rental Lease Agreements

Drawing up a comprehensive lease agreement that is compliant with the law is a crucial step in managing rental properties. Your lease agreement will safeguard your rental income investment by stipulating payment terms, the responsibilities of the tenant, the maintenance responsibilities as well as the rules and regulations. All these aspects are pivotal to managing rental properties as they protect your rental property investment and minimize any misunderstanding by clearly outlining expectations.

We strongly recommend working with a reputable property management company, such as Greene Property Management in DeLand Florida, to draw up your rental lease to ensure that your lease agreement is legally compliant and covers all aspects that promote a smooth process in managing rental properties.

Partner with Greene Property Management For Your Property Management Needs

Voted the best Property Management in DeLand, Florida. Greene Property Management is a trusted and reputable property management company that services landlords and tenants throughout Volusia County. We care about your rental property as if it was our own and we are committed to guaranteeing you the best return and service!

Managing Rental Properties

Frequently Asked Questions

Landlord FAQ's
  • How do we handle evictions?

    This is never the desired outcome but can be an unfortunate circumstance. Regardless of what city your property is in within West Volusia, FL, a concern of any homeowner is being stuck with a tenant who is breaking the terms of their lease. Greene Property Management always holds the tenant responsible for their legal obligation and will work for the homeowner to minimize any vulnerability.

    Should an eviction become necessary, we will do our best to reduce your risk as a landlord by following all state laws to ensure a rapid, minimal cost, decision. Staying abreast of local law changes and regulations is paramount to a successful eviction. If you want to know how to evict a current tenant at your property, even if it is not currently managed by Greene, we are happy to help. Please use the contact form here to submit your eviction inquiry.

  • How do landlords view documents and reports?

    Landlords need a place to securely access all owner statements and other important documents. Including the signed Management Agreement, HOA documents if necessary. Greene Realty provides all clients in any location throughout West Volusia a secure online platform to login, view and manage all their statements and reports.

    Using your online portal is easy and efficient. Take ownership of your property anywhere in and around West Volusia.

    All West Volusia property tax records will be mailed to you yearly. In addition, you get photos and a report of your home inspections (if added).

  • How do I check my account balance?

    Log in to your Resident/Owner Portal and click the Payment tab. This will show your payment history and charges in your ledger.

  • Does Greene Property Management inspect my rental?

    GPM does inspect each property. We inspect based on the Management Plan selected, which ranges from 2-4 times per year. Tenants are given a minimum of 24 hours’ notice prior to any property inspection. We take out and inside pictures for documentation. Additional inspections can be requested for a small fee.

Tenant FAQ's
  • How do we handle evictions?

    This is never the desired outcome but can be an unfortunate circumstance. Regardless of what city your property is in within West Volusia, FL, a concern of any homeowner is being stuck with a tenant who is breaking the terms of their lease. Greene Property Management always holds the tenant responsible for their legal obligation and will work for the homeowner to minimize any vulnerability.

    Should an eviction become necessary, we will do our best to reduce your risk as a landlord by following all state laws to ensure a rapid, minimal cost, decision. Staying abreast of local law changes and regulations is paramount to a successful eviction. If you want to know how to evict a current tenant at your property, even if it is not currently managed by Greene, we are happy to help. Please use the contact form here to submit your eviction inquiry.

  • How can I become a tenant with Greene?

    1. Work with Team Greene to find your perfect place to live.

    2. Complete and application on our website.  All those 18 years and older living in the property must complete an application and screening.  A $75 Non-refundable fee per application must be included. These fees are non-refundable. Our application process can take 3-5 business days.

    3. You must have proof of income.  Your income must equal at least 3 times the monthly rent amount.  Examples of income verification include, but are not limited to: a completed employment verification form, 3 consecutive paystubs, 3 months of payroll reports from employer, current proof of government income, proof of retirement, liquid assets (bank accounts, stocks), spousal support, legal verifiable income.

    4.  Background check. Credit must be at least a 600 credit score and no late payments in the last three months.  Provide 3 years of rental history with contact numbers. Criminal history will be assessed on an individual basis.  We base our decision on a concern for the safety of other residents and staff. Any conviction for the manufacturing and distribution of illegal drugs and or if the applicant is a registered sex offender will result in application denial.

    5. Completed and submitted Rental History Verification form.

    6. Be willing to start the lease within 30 days of applying. We will only process completed applications. Our application process generally takes three business days from the day you provide us a complete application and all required documents.  We make no guarantee as to the time it will take to process your application. This varies based on the responsiveness of your landlords and employers and other business demands.

    7.  Be honest and truthful in your application and answer all questions.  Falsification of facts or withholding information is cause for denial and or eviction later.

    8. We strongly encourage you to view the property prior to applying.

    9.  If approved, GPM will need a minimum of 2 days to prepare the property prior to move in.

    10.  Pets—Check to confirm pets are considered in the rental.  You must submit a pet application. No pet will be considered without a pet application.  Any guide dog or other assistance animal will be permitted upon verification. Be prepared to verify vaccination records and pets current weight.  If a pet is approved it is understood that the tenant will carry insurance to cover the animal.

    11.  Students/applicants who do not currently have income must provide a guarantor.  The guarantor must complete an application and provide all verifications necessary to qualify.  The guarantor must live in the USA and must assume financial responsibility of the lease, including property damage.  All roommates must have a guarantor or all qualify without guarantors.

    12. We must have a state-issued photo ID for each applicant.  Such as a driver’s license, passport, military ID for each applicant and co-applicant.

    13.  First qualified applicant to sign and pay $500 to hold the property, will be the first to rent. We will only hold properties with a $500 non-refundable deposit. This will be applied to your 1st month’s rent at the time of move-in.

  • How do I check my account balance?

    Log in to your Resident/Owner Portal and click the Payment tab. This will show your payment history and charges in your ledger.

  • If something needs repair in my rental what should I do?

    Log into your Resident Portal and enter a Maintenance Request. By explaining in full detail the situation, we can address this repair as quickly as possible. Your Resident Portal is the most direct way to get information to GPM.

  • What happens when I move out?

    90 Days before your lease expires, Team Greene will contact you to see if you intend on moving out or renewing your lease. You must let us know your answer at a minimum of 30 days before your lease expires. An email will be sent with move out procedures for you to follow in order to ensure you receive your entire security deposit back. The balance of your security deposit less any damages is returned within 15 to 30 days from the time at which the keys are returned to the office.

  • How do I get Renter’s Insurance?

    Log into your Resident Portal and sign up for Renter Insurance. The cost starts at $12 per month and is the most convenient way to receive coverage. You may seek outside insurance options but please call the office with proof of insurance. All Tenants renting with GPM MUST have insurance.

  • Does Greene Property Management inspect my rental?

    GPM does inspect each property. We inspect based on the Management Plan selected, which ranges from 2-4 times per year. Tenants are given a minimum of 24 hours’ notice prior to any property inspection. We take out and inside pictures for documentation. Additional inspections can be requested for a small fee.

  • Are pets allowed in our rentals?

    Some of our homes are listed as pet friendly and may have certain unique guidelines stipulating what pets are or are not allowed as per the home owners requests.

    If a home is pet friendly, the following requirements are to be met:

    A pet fee of $350 and a signed Pet Addendum to the lease must be paid and signed
    prior to an animal moving into the residence.

    A pet renewal fee of $150 is required each year that the lease is renewed.
    All approved restricted breed dogs must comply with the
    following insurance guidelines:
    1) Purchase Dog Liability Insurance with a minimum coverage of $100,000 per incident.
    2) Name Greene Property Management, LLC as “ADDITIONALLY INSURED” on this policy and provide proof. Recommendations: Conduct a Google Search for “Dog Liability Insurance” online and seek several quotes from insurance providers licensed in Florida for your pet. This must be completed and presented to your property manager prior to move in.

  • Are there dog breed restrictions?

    On a case-by-case basis, GPM will allow for Restricted Breed dogs that are all or are
    any portion of mixed with the following breeds:

     Akita
     Doberman
     Staffordshire Terrier
     American Bulldog
     German Shepherd
     “Wolf Dog”
     Great Dane
     Husky
     Bullterrier
     Bullmastiff
     Presa Canario
     Rottweiler
     Chow
     Pit Bull

    Tenants may be evicted for misrepresenting any of the above types of dog, as well as for being in possession of any poisonous, dangerous, endangered species, or otherwise unauthorized animal. Our animal policies are strictly enforced and can be grounds for eviction.

    Service Animals: Any requests to allow for certified service animals must be accompanied by current documentation and will be reviewed by an external Law Firm for accuracy.
    —We may require you to bring the animal(s) to our office in person for final approval—

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