Nothing is more aggravating then having to evict a tenant. Smart landlords hand the process over to someone else, and consider it a
cost of doing business. If you have been thinking about getting Management for your unit, now might be a good time to start. If, however, you have decided to handle it yourself, here are some tips that can help:
Before filing with the County Clerk:
After filing:
Other things to remember:
Attracting and keeping good tenants is essential to your rental investment. Make sure you (or your management company) are
following this checklist every step of the way:
Before Move in:
1) Clean tenants want a clean unit. Make sure yours is professionally cleaned before showing.
2) Mow the lawn. Put down fresh mulch. Pull the weeds. Bad lawns tell tenants that the landlord doesn’t care.
3) Have the carpets professionally cleaned. If they are really bad, don’t wait to replace them. Consider wood laminate floors that wear easier and show better. Either way, a good tenant will pass over your bad floors for a unit with better ones.
4) If it needs new paint, then paint it. Good tenants will pay top dollar for freshly painted walls.
After Move in:
1) Do a walk thru with your tenants at closing and determine what needs to be repaired or addressed. Test every appliance before you leave.
2) Fix the things on the list. Don’t have the attitude that this is an “As Is” rental. This is not a purchase. The renter is, in effect, your client. If you treat them reasonably, they will stay. If you don’t, they won’t.
3) Provide little things for your tenants that will encourage them to be and do the right thing. Leave extra AC filters in the garage. Give them self-addressed stamped envelopes that they can use each month to mail the rent. Put extra batteries in the kitchen drawer for the smoke detector.
4) If the tenant calls with a problem, respond that same day. Nothing is more important to a good tenant than quick solutions, so make sure you are there when they need.
Other things to remember:
This is your investment. Don’t scrimp on things like appliances and landscaping. Good choices will, in the end, pay off with better tenants.
Consider a service contract for your appliances and AC. In the long run, this will pay for itself, and your tenants can call the service directly if there is a problem.
Pay to have the pool or lawn care done by someone other than the tenant. Even the best of tenants will not keep these things up as well as a scheduled contractor will, so never let a tenant negotiate this to reduce the rent. It’s better to meet their price, if you want, then to give up control of your investment.
Nothing affects your bottom line more than a bad tenant. Bad tenants can destroy your property, squat without paying, and leave you with a ton of headaches and expenses. Here’s how to weed out the good from the bad, and get the kind of tenant that will stay and pay:
1) Make sure they can prove their income. Not just for the last few months – Ask them for documentation that will show a history of what they made, and how they made it, for the last year.
2) Require at least first and security before move – in and negotiate a payment plan for last month if necessary.
3) Always do a background check.
4) Never sign a deal without a deposit equal to first month.
5) Ask for, and check, all landlord references
6) Find out why they are moving and really listen to what they are saying. No one moves just for the fun of it. If they don’t have a clear cut reason, they may be skipping out on another landlord.
7) Make sure every adult in the house is listed on the lease.
Other things to remember:
By Karen Campbell, Executive Director – Karen brings 20 years of business success to Kangarent Property Management. As a licensed Realtor® and Community Association Manager (CAM), she has worked with investors and properties since 2002. In 2006, she established Foundation Property Services, a boutique management firm that specialized in personalized Association management. Her professional experience includes specialty contracting and marketing, and her notable client base has ranged from NFL quarterbacks to The City of Coral Springs. She holds a B.A. in Communications from Indiana University, and is the proud mom of two. She has an established legacy for building quality teams and solid customer relationships, and is excited to create new success with Kangarent Property Management.|
KangaRent Launches New Property Management Business to Aid South Florida Landlords and Property Owners With Rental Demand Soaring, KangaRent Hopes to Provide a Turn-Key Approach to Ease Property Owners into Landlordship |
| Palm Beach Gardens, FL – KangaRent (www.KangaRentPM.com), a South Florida real estate brokerage 100% dedicated specifically to the residential rental market, is pleased to announce the opening of their full-service property management business. KangaRent Property Management aims to relieve the headache and stress that property ownership and acting as a landlord can often cause.
Due to a booming rental market and sluggish home sales, KangaRent Property Management has seen a dramatic increase in homeowners who are looking at renting their property as a viable option. Most of the inquiries KangaRent is receiving come from property owners who have never been a landlord before and therefore need the extra attention and assistance that KangaRent now provides. Through its Palm Beach Gardens property management business, KangaRent Property Management will offer rent collection via regular/online check or credit/debit card, process late fees, deal with tenant complaints, settle resident disputes, complete regular property inspections, supervise repairs, schedule and conduct move-in’s and move-out’s, facilitate evictions and collections, and proactively conduct showings for current and future vacancies. KangaRent Property Management is hoping to fill a void for South Florida property owners and landlords that have yet to find a Palm Beach property management company offering such a vast array of services combined with rental market experience. Additionally, KangaRent is looking for property owners and potential South Florida real estate investors who are looking for a “hands off,” streamlined and turn-key approach to real estate investing. Owners and tenants can expect the following top-level services from working with KangaRent Property Management West Palm Beach Property Management Professionals: Professional Marketing Services This is where KangaRent Property Management has initially established its reputation, as residential rental specialists on both the buyer and seller side with its team of licensed Realtors®. KangaRent Property Management will make knowledgeable and experienced decisions as how to market an investment property based on its serious dedication to the rental market. KangaRent Property Management has built systems and relationships with multiple resources and avenues to promote an investment property and get it rented for as close to top market value as possible. Tenant Screening KangaRent Property Management has developed proven methodology for qualifying tenants based on each credit reporting agency, state-by-state criminal back ground checks, access to a national data base for landlord collections and evictions, verification of employment and income, as well as confirmation of previous rental history-payment performance and property condition. With such comprehensive insight into potential occupants, KangaRent repeatedly places reliable tenants into client properties. Lease Negotiations KangaRent has the ability to negotiate appropriate leasing terms based on its in-depth rental market experience. KangaRent further works to ensure premium leasing performance and will demand the most lucrative arrangements with regards to rental amount, length of tenancy, required deposit, and expectations of tenant duties. Property Management Perfected KangaRent’s mission is to relieve the headache and stress that property ownership can often cause. KangaRent will collect rents via regular/online check or credit/debit card, process late fees, deal with tenant complaints, settle resident disputes, complete regular property inspections, supervise repairs, schedule and conduct move-in’s and move-out’s, facilitate evictions and collections, and proactively conduct showings for current and future vacancies. Skilled, Knowledgeable and Reliable Maintenance KangaRent finds extreme value in proper maintenance of its managed properties, and employs a supervisor to verify all tenant reports and complaints. The KangaRent supervisor then contracts the most respected service providers available to correct the problem. KangaRent also understands that routine maintenance is the responsibility of the owner and strives to keep these expenses to a minimum. However, this should not allude to a “cheap fix.” KangaRent also investigates to qualify that complaints are genuine, as well as plans for preventative maintenance in order to reduce increased future expenses. Detailed and Accurate Accounting Each month the landlord will receive an itemized report of their income and expenses. KangaRent’s records are open to every landlord’s review upon reasonable request. Additionally, accounting will be stored and easily accessible for a three year period of time. “Our mission is to manage each and every property as if it were our own in order to maximize cash flow for the respective owner by reducing expenses and increasing the property’s rent capability,” said Damien Barr, CEO of KangaRent Property Management. “We have built a solid reputation in South Florida by providing exceptional service in the residential rental market, and we are now proud to offer a full-line of services that caters to income-property owners and landlords.” If you have any questions regarding KangaRent’s Boca Raton property management services, or would like to setup an interview with Damien Barr, CEO of KangaRent, please reach out to our media contacts to coordinate. Keywords: coral springs property management, palm beach gardens property management, rental property management palm beach, boca raton property management, property management boca raton, property manager palm beach, property management west palm beach, west palm beach property management, property management company ft lauderdale, coral springs property management, property management coral springs, property management company fort lauderdale, property management ft lauderdale, property management company palm beach, property management fort lauderdale, wellington property management, fort lauderdale property management, property manager broward, property management wellington, pompano beach property management, property management pompano beach About KangaRent Property Management KangaRent Property Management (www.kangarentpm.com) is a full-service property management business serving Palm Beach County, Broward County, and nearby areas, is dedicated solely to the “hands on” management of client residential real estate properties. Join with KangaRent Property Management and our sister company, KangaRent, the fastest growing real estate company in Florida with more than 80 Board Certified Realtors® all specializing in rentals. Landlords receive full service property management combined with vast rental market experience.
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Five years after the housing bubble burst, America’s wealthiest families are now losing their homes to foreclosure at a faster rate than the
rest of the country — and many of them are doing so voluntarily.
Over 36,000 homes valued at $1 million or more were foreclosed on — or at least served with a notice of default – in 2011, according to data compiled by RealtyTrac, which tracks foreclosures. While that’s less than 2% of all foreclosures nationwide, it represents a much bigger share of foreclosure activity than in previous years.
“These properties are accounting for a bigger piece of the foreclosure pie,” said Daren Blomquist, vice president of RealtyTrac.
Out of all foreclosure activity, the share of foreclosures on properties valued at $1 million or more has risen by 115% since 2007 while the share of multi-million dollar foreclosures — or homes valued at more than $2 million — jumped by 273%. Meanwhile, the share of foreclosures on mid-range properties valued between $500,000 and $1 million fell by 21%.
Until recently, many homeowners at the high end of the housing market were able to postpone the foreclosure process, Blomquist explained. With other assets and alternatives, “they had more financial means to hold out against default.”
In addition, lenders are typically more amenable to working with homeowners that have other resources, said Ron Shuffield, president of Esslinger-Wooten-Maxwell, a real-estate firm in Miami where homes priced over $1 million represented 9% of all foreclosures last year.
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