You can buy these Walk-Through Checklists online or through companies that service the Tampa property management industry. This particular checklist gives tenants peace of mind when they move into your rental property. If there are scratches on the kitchen countertop or chipped linoleum in the bathroom, the tenant can write this down on the checklist. Therefore when they move-out, they know they will not be charged for those items.
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To Be An Effective Tampa Property Management Company, You Must Classify Your Different Rentals into 3 Groups or You Will Lose Money Fast - Part I
Professional workers typically pay the rent on time, have decent credit, and take care of your rental property with greater pride than the other groups. You will also find they can be fairly demanding about repairs. However, they do tend to stay put for awhile and make fairly good tenants. You do not have to be on their case all the time about past due rent or picking up trash in the yard.
Tampa Property Management Tip #17– If You Want to Collect Past Due Rent Do not Let the Tenants Set the Terms
In our Tampa property management company, collecting rent is very tricky and requires some insight into the psychology of dealing with tenants. The most common method of rent collection is to insist the rent is paid on time or an eviction is filed after the 3 to 10 day notice expires (changes depending on what State). If the landlord doesn’t follow through with this threat, the tenant knows that paying rent on time is optional because there are no consequences.
Tampa Property Management Tip #16 - If You Prepare Property Owners for Occasional Upgrades, You Will Reduce Vacancy and Increase Rents.
A Tampa property management company should prepare every rental property owner right at the beginning of the relationship for periodic upgrades. Every item in the house especially those in the kitchen and bathrooms have a useful life. In order to stay competitive and rent your rentals quickly and at a good price, the rentals must be updated in some way every few years.
Tampa Property Management Tip #15 - Many Houses Have Little Or No Insulation and This Will Cost Your Tenants
You should always consider the electrical efficiency of your rental homes or apartments. Rentals with poor or no insulation causes excessively high electric bills for your tenants. Most landlords just shrug their shoulders and take no responsibility for this issue. This is a huge mistake. If the electrical bill should be around $200 and the bill is coming in over $400, you cannot immediately assume it is the tenant's fault.
Tampa Property Management Tip #14 – Replacing Older, Drafty Windows is Essential to Retain Long Term Tenants
Many homes with windows from the 1960s and 1970s (or older) are no longer functional, and ost Tampa property management owners find replacing windows extremely distasteful because of the expense.. These windows have been warped by weather and usage resulting in large gaps between the window and the house.
Blue collar tenants are your bread and butter working class folks. They work in construction, retail, and industries of all shapes and sizes. They are usually high school graduates with little or no college experience. Often they work with their hands and are in the field as opposed to behind a desk
Low Income/Section 8 Tenants are without a doubt the most time consuming and frustrating of the three tenant groups. These people are broke and are always struggling to make ends meet. Collecting rent is a hassle. If you are dealing with 10 Lower Income Tenants, you will be chasing money from 7 of them. This does not mean you will not receive your rent. It just usually means that most of them will pay late.
If you were given the chance to choose between price and quality when hiring a property manager, I strongly suggest you go for quality. A good property manager comes with a premium, normally at 8 percent rip off, compared to average ones which are at 5 percent only.