Investment Property Management Belleair Beach Florida

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Are you a real estate investor in or near Belleair Beach Florida searching for a top rated property management company give RentVest a try!

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Quite a few owners know that if you are looking for Professional Property Manager in Portland, Oregon or Property Management Companies Las Vegas NV. RentVestPM.Con is who you need to reach out to but did you know that RentVest is also your best option for anyone in need a affordable investment property managers in Belleair Beach Florida! After merging with MYND RentVest Property Management is more equipped to handle the day to day requirements of the more than 30,000 tenants we serve, while enhancing the ROI of the more than 3,000 owners in our network!

Professional Investment Property Manager Distinct Responsibilities

Property management is the management of investment properties. The property manager or rental management company really acts and makes decisions with respect to the investment property owner in order to maximize ROI and to minimize risk for the property itself. Below, we shall be going over a number of the reasons you need to consider getting a professional investment property management company.

  1. Time: Lots of people that invest heavily into investment properties simply lack the time that is required to regularly maintain them and to ensure they are functioning. A management company can minimize the time that is needed for running property investments. Not only can they look after the regular activities associated with owning your property, but they make decisions with respect to the home owner.
  1. Legal Knowledge: People who invest in properties that take part in varying legal programs will have to have specific legal knowledge of the problems as a way to porperly comply. A property management company is going to be aware of specific guidelines and they will get the legal knowledge necessary to ensure full compliance.
  1. Background Record Checks: You should thoroughly vet potential boarders. A rental management company should possess the time, know-how, and means necessary to fully assess all of the potential tenants to minimize risk and increase returns from your property.
  1. Location: A great deal of investors will buy out investment properties in various states. Because they are unable to physically be close to their property at all times, they tend to hire out an investment manager as a way to see about the numerous assignments that are required to control your property as well as its tenants.

A great investment property manager could be a significant asset to someone that is thinking of purchasing a property. Buying property is not merely very time-consuming, but it could be particularly risky when you are not really acquainted with the legalities related to having and leasing property and in case you are not able to spend the required time handling the property and dealing with landlord duties. One consultation with us an you‘ll understand why we are your best bet for everyone seeking a professional rental property management company in Belleair Beach Florida! If you would like more info about the services offered by RentVestPM.Con please check out at our blog. There you‘ll find articles on Property Management Jacksonville and other subjects of interest to real estate property owners in Belleair Beach Florida…

Blog Article of Interest to Those searching for Property Management Company in Belleair Beach Florida

Real Estate Management Techniques to Favor Senior Tenants

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Real estate management companies and landlords must understand what seniors want in an apartment to win their tenancies and leverage the profit potential created by baby boomers downsizing to rental apartments. Rental demand among baby boomers is increasing, a trend that is expected to continue as America’s 75 million baby boomers prepare to retire or already have.

Property managers and landlords eager to capture a share of the boomer tenant market can start by getting to know what older tenants look for in a rental, a challenge considering the staggering diversity of this demographic. No cookie cutter tenant profile exists for the 55+ population; the needs of older residents change for people in the 65+ age range and are much different for the age 75+ crowd.

Real Estate Management Companies and Senior Tenants

When it comes to living space expectations, researchers find that older Americans actually have few things in common. Below are some top features and amenities that make apartment rentals most attractive to today’s aging renters.

1. First-floor master suites

The number one priority among baby boomers seeking rentals is a first-floor master suite.  According to Milwaukee-based Certified Seniors Real Estate Specialist Bruce Nemovitz, an estimated 40 percent of new homes under construction include first-floor master suites, marking a 15 percent increase over the past 10 years. As baby boomers age, navigating stairs often becomes more difficult and hazardous. First floor master suites incorporate a bedroom and bathroom, making it more plausible for tenants to age in place.

Property managers and landlords who plan to renovate rental bathrooms to better accommodate aging tenants can make upgrades that work for renters of all ages, such as:

  • Installing grab bars in the shower and next to the toilet.
  • Changing out a standard toilet for a comfort-height version, which make it easier for aging adults to sit down and stand up.
  • Installing a walk-in shower with bench seating.
  • Installing a bathtub with a swing door for aging adults to enter and exit more safely and easily.

2. Accessibility

Aging Americans want homes or apartments that will be easy to navigate as they get older. Rentals with multi-level entrances and units, long driveways or parking spaces located a distance from the unit’s entrance can be deal-breakers for older adults.

To increase interest in your property among older renters:

  • Make sure that walkways are level. If the walkway is constructed with brick pavers, make sure they’re well maintained with no loose or displaced bricks that create a tripping hazard.
  • Outdoor patios should be level with the adjacent indoor rooms. Raised decks or multitier porches aren’t functional for many older adults. Properties that already have these features in place should provide an alternative should also offer a gently-sloped ramp at the side of the deck or ramp for aging tenants to safely access the entrance on foot, by scooter or by wheelchair. If space allows, install an ADA-compliant ramp to attract more tenants who are looking for a rental in which they won’t have to move if their mobility declines in the future. An ADA-compliant ramp will also attract tenants of all ages with disabilities.
  • Consider enlarging doorways to accommodate tenants who use a wheelchair or walker. Wheelchairs need at least a 36-inch doorway opening, but 42-inches is preferable.
  • Assign parking spaces as close to the unit’s entrance as possible.

3. Inclusive Rents

Tenants in the 55+ demographic prefer properties offering rent pricing that includes all utilities—heat, electricity, water, gas, cable and internet services, parking, and laundry. Most of today’s renters age 55+ are former homeowners and part of their downsizing strategy includes relieving themselves of maintenance and property upkeep responsibilities for good. The 55+ demographic look for rentals in which yard work, snow removal, property clean-up and other chores are included in the rent.   Americans are looking for homes where the yard work, snow removal, and other strenuous chores are performed by a property management team and included in the rent.

The preference for all-inclusive rentals also helps older tenants manage budgetary challenges that can arise after a spouse passes away. Including utilities and standard services in the monthly rent makes for one less thing to worry about as they age.

  1. Gathering space

Americans are living longer than ever before, often 20-30 years into retirement. Aging baby boomers are social creatures and place a high priority on remaining social as they get older. Rental properties with designated spaces in common areas designed for gathering with friends and family are particularly appealing to 55+ renters. If you’re planning renovations to attract modern seniors, consider creating welcoming gathering spaces for entertaining small and not-so-small groups outside the rental units.

Well-maintained outdoor spaces and spaces in lobbies, clubhouses, pool areas, and picnic areas can be easily transformed into gathering spaces for residents and guests to mix and mingle.

5. Room for Guests

Today’s aging population wants to continue entertaining friends and accommodating adult children and grandchildren in their downsized rental homes. That means they’re looking for rentals with at least two or three bedrooms for guests that can double as a home office, yoga room, or other personalized space.

  1. High-End Finishes

Many Baby Boomers are accustomed to the high-end finishes they enjoyed in their family homes and aren’t willing to sacrifice quality when downsizing to a rental. They look for apartments with high-quality kitchen and bathroom fixtures, features, and appliances. Real estate management companies should consider asking older residents and acquaintances what they look for in a rental property.

Would they prefer marble or granite countertops, solid wood cabinets, and top-of the line appliances at a higher rent rate, or would they be open to sacrificing some high-end finishes in exchange for a lower rent rate? If they’re looking for a lower rent rate, which finishes and features are most important to them, and which are less important? It’s better to spend money on upgrades that reflect the preferences of most renters in the 55+ age demographic.

7. Effective lighting

Lighting is important to aging adults who are more vulnerable to injuries due to unseen physical hazards as well as security. Property managers find motion-sensor lights are ideal for driveways, entryways, hallways, stairways, and other common areas. Motion sensor lights illuminate areas automatically as tenants enter an area, sparing older adults from fumbling for a light switch in dark spaces. Adding multiple light switches in rental units will help older residents readily turn a light on or off and reduce the distance between switches to turn a light on or off.

Installing larger windows in rental renovations geared to attract aging tenants as well as tenants of all ages. Larger windows increase the amount of natural light in the unit, brightening the space and making rooms appear larger.

As baby boomers enter retirement en masse with downsizing in mind, real estate management companies, property managers, landlords, and homeowners associations are increasingly competing for their share of the lucrative 55+ rental market demographic. In order to make the most of this profitable tidal wave of opportunity for maximizing your passive income stream, it’s important to understand the needs and preferences of today’s aging Americans. Investing in property upgrades that attract older tenants, many of which are simple and inexpensive, will give you an edge among competing rental property managers for attracting and retaining aging tenants.

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Investment Property Management Belleair Beach Florida

Investment Property Management Company Serving Belleair Beach Florida If you are a real estate investor in Belleair Beach Florida looking for flat-rate rental property management company give RentVestPM.Con a call! Whether you are searching for Property Managers near Clearwater, FL or Property Management Company near Hillsboro, OR the consensus are that you should call RentVestPM.Con. With more than thirty thousand tenants and over than three thousand real estate investors in our books [...]

2019-09-11T06:17:20+00:00