Important property management features
Lately we were asked to discuss the property management features of our services. Rent collection, complete accounting, and lease administration are just few services that we provide, but they certainty require special attention.
Rent collection cannot be easier. With superb property management technology in use we cut payment processing time up to 70 percent! Our Online property management portal allow tenants to authorize their bank accounts or credit card and then set up a recurring payment schedule. We post rent expense 5 days before it is due. Once the rent is paid, tenants receive a payment confirmation. Owners will see online who and when paid rent and how much was paid. Since we do not for a security deposit, we disburse the rent when the rental month is closed. It takes 2 business days for our merchant services provider to deposit homeowner’s funds into his/her bank account.
2. Complete Accounting
Our property management accounting software makes bookkeeping complete and accurate. Now you can track every charge, payment, deposit, and refund. Can you only imagine that we are capable to generate more than 50 financial reports. This includes balance sheets, income statements, and cash flow statements, among others. Now you can finally save some time to your accountant. Most importantly, that all these services and more are included in 7% management fee. No one is better than us. Guaranteed!
3. Lease Administration
These feature starts with renters insurance. We have to enforce a tenant liability insurance requirement across our properties with Renters Insurance Plus. This Lease Insurance Program is fully integrated with our property management software, so it makes enrollment easy for tenants. Renter insurance provides $100,000 in liability insurance and $10,000 in personal property. When it’s time to renew the lease, we will do it for FREE if tenants stay. In general, our tenants stay for 3 years. When tenants move, we finalize our relationships with conduction a move- out inspection and getting property ready for its new tenants.
Orlando property management Holiday Mission
For Holidays, we receive many greetings, thanks, and attention from our homeowners and investors. For example, this chocolate tower says: “Thank you for all you have done for us this past year! We really do appreciate all your help in making our rental home a success. Have a wonderful Christmas and Happy New Year.” It is a big honor when our property management work is being recognized by our valuable investors. But what enables us to successfully manage properties and satisfy investors expectations? The answer is our tenants!
Every property manager takes care of his/her renters in the unique way. We believe that Holiday season is the best time to give thanks. Therefore, every year, we dedicate month of December to show appreciation to our wonderful residents. It starts with planning of the gifts. This year, we ordered delicious and specially selected Cupcake Chocolates. They were mouth-watering almond praline, cappuccino ganache and salted caramel.
Then we created a hand made gift boxes. To make it more unique and personal, we ordered personalized labels saying: “Mila Realty wishes your family Happy Holidays“. Moreover, the label had our family picture of Mila Realty management. While all of our tenants have met at least one of our office representative during the move-in inspection, many of them have never seen Mila Realty management family at once. It also showed that we are all live people, and not just a tenant portal, which runs tenant screening, collects rent, or resolves maintenance tickets.
The greatest part was the delivery of goodies and meeting the tenants. It took our Orlando property management team about 10 days to deliver our Holiday treats. We manage properties within Orange, Osceola, Lake, Polk, Seminole, and Volusia counties, so meeting some tenants was more difficult than expected because of the traffic on the roads and busy schedule. But all the tenants were happy to see us and even take holiday pictures with us. Like this photo with two sweetest girls, whose parents rent in our Venetian Bay community in Kissimmee.
If you are interested to learn more about us and what we do, contact us. Mila Realty property management team will be happy to discuss anything real estate related. We always have someone knowledgeable and experienced available. Tenant placement, leasing paperwork, inspections, evictions, property management, and more. Click here for details
Davenport property manager and open house
Indeed, any Davenport property manager will agree that renting the property in Great Orlando area becomes more difficult.
The main issue is the time. Today it takes longer to find a qualified tenant. Even in the hot areas like Orlando, our average days on market increased from 10 days to 14 days. The cases where our hardworking property managers were able to complete entire process, which is listing the property and sign an executed lease, within 3 days become rarer. It is not to mention the areas with the slower “tenant flow”. Among these areas is Davenport.
Finding the qualified tenant fast is the goal for both real estate investor and property management company. However, the boom of completed constructions of multi-family homes in 2016 makes this process longer. The variety of newly built apartment complexes increased the supply, reduced demand, decreased the rental prices and quality of the prospects. For example, there are properties that have been on the market for longer than 60 days. In this case, homeowner’s loses may be detrimental. This is why Davenport property manager need to think outside of the box to attract the renting leads. We noticed that in addition to market rental price and advertising, having an open house may increase lead generation, reduce the property leasing time, and decrease the tenant placement transaction costs.
The main reason why prospects may prefer viewing the property on open house rather is, they do not need to hire a showing agent. They are not expected to commit to anything nor feel uncomfortable to say “I am sorry, but I don’t like this property.” Another reason is the time convenience. Some people prefer to have some flexibility with their appointments. Davenport property manager should understand that prospect may have to have a long drive and traffic on the way to the viewing the property. While being late is stressful for many people, it is always easier just to show up sometime between 2-5pm. Finally, while not everyone is not computer savvy, open house signs, displayed around the property, may help long awaited tenant to find his or her further rental home.
We believe that sharing the ideas will improve the way Davenport property managers conduct their business. Homeowners and professional are encouraged to share their strategies about how to attract qualified tenants, provide any recommendations, and hire our property management company to take care of any rental property located within the Great Orlando area. Read more or contact us here.
Osceola property management
There are more than 700 Osceola property management companies. How tiny Kissimmee and Saint Cloud areas may fit such enormous amount of competitors is a big question. The answer can be found in tourism. For example, every year a million of Kissimmee visitors fall in love with Great Orlando area, its beaches, and attraction parks. Perhaps thousands of them commit to make Orlando their every year vacation destination for as long as their children enjoy Disney World and other great parks. Often, it means that one aims to travel to Orlando for 15-18 consecutive years. While average family is represented by four people, a hotel room or even suite may not provide enough comfort for travelers. Attractive Orlando area prices make tourists to consider to purchase a rental property. Of course, rental property is great because it generates income and return on investment (ROI). Moreover, rental property may be turned into a vacation rental, where one’s family may use as second home during its vacation time. After buying a vacation home, investor needs to hire a professional property management company to take care of the property.
We provide some recommendation for vacation home rentals buyers:
NO realtor’s fees. For those who buy a vacation home rentals, it is recommended to work with honest realtors. Foreign investors should be aware that normally, real estate agents receive a compensation for their work from the Seller. Therefore, buyer should avoid working with agents who want to charge them for their services.
Low property management fees. Always shop around and receive at least three quotes from different companies. Keep in mind that 7HeavenVacation vacation rental property management program offers only $100 management fee and 15% reservation fees.
Vacation rental occupancy rate. Remember, often occupancy rate is more important than high rental rate. It does not make much sense when vacation home generates $250 a night when it can be rented only 7 nights a week with occupancy rate of 30%, right? What we do, we maintain 70% occupancy rate because we are successfully adjust to market and seasonal demands.
Ask for free trial. It may not be advertised, but it worth to ask. Companies like 7HeavenVacation actually offer two free months for its new clients who own vacation homes with swimming pool.
Finally, when you work on a deal, obtain a free second opinion from other professionals. Our office will deliver free estimate within an hour or so. Market analysis and income estimate can be expected. Contact our local Osceola property management company today.
Low cost Kissimmee property management company
There is variety of property managers who try to differentiate themselves by offering unique services and promises. Endless options make it diffract to find a good and low cost Kissimmee property management company. Among them quick tenant placement, discounted leasing fee, low management fee, and etc. This article aims to discuss the mistakes made boreal estate investors when they select a property manage.
The office location. Homeowners tend to believe that if property manager’s office is located close to the rental property, the results will be better. Honestly, with all the technology tools, geographical location is not as important as it was before. Mila Realty Kissimmee property management lists the property within more than 20 channels and involves other professionals to generate the leads and expedite the leasing process. Most of the work is done online, email, and phone. The more professionals are involved, the more faster the leasing process.
The average days on market. It is important to find out what is the average leasing period when hire a property manager. One wants to know how fast the rentals move and how long it takes to find the qualified tenants. Basically, it means the average amount of days between listing the property and executing the lease. In general, Mila Realty property manager turns listing to someone’s home in 10 days. Sometimes it may take only 2 days. When property manager knows the area well, s/he will be able to provide with proper comparables. It is recommended to follow the market. trends. Otherwise, process may take longer and more expensive.
Free rental estimate. Be sure to always ask the property manager to give you an estimate for potential rental income. We do not recommend use tools like Zillow or Trulia to estimate potential rent income because the data is not always updated. In contrast, an alternative solution can be found at milarealty.com. This website gives an access to MLS data. Mila Realty property management provides free access to the website, where no registration is required.
The fees. These are probably are the most important because if investors do not manage expenses, the expenses can eat all the earned income. Always shop around and seek for the best. While everyone knows that average cost of Kissimmee property management services is 10%, Mila Realty monthly property management fee is only 7%. Mila Realty was recognized as a low cost Kissimmee property management company. With this low cost strategy in mind Mila Realty gains new markets and offers its valuable customers benefits from economy on scope. One of them is low leasing fee. While others provide tenant placement feature at cost of half or one full month of the rent, Mila Realty does this job only for $300.
Finally, look for property reserve fond when you review the quote from property manager. It is recommended to maintain 5% from annual rental income as property reserve fond. Major repairs which remain landlords’s liability before the tenant, such as air conditioning or major plumbing repairs, might be paid from this fond.
Property management is not a simple task. Mila realty low cost Kissimmee property managers are open to discuss individual needs of real estate investors and provide wth practical recommendations how one’s property income can be improved. See more here.
Negotiations are better with property management company
Just like in real estate transaction where Buyer needs a Broker to negotiate the best deal on purchasing or selling, real estate investor may need a property manager to make sure that the best rates will be provided for the property repairs. It may include savings on labor, material, and time. Consider the case when investor just purchased a distressed property. Often, to sell or rent the property, the repairs are needed. Obviously, property maintenance is costly. To safe money and headache, it is recommended to seek for property management Kissimmee FL and maintenance provider.
Normally, experienced property manager has established team of subcontractors. Among them are plumbers, electricians, flooring techs, painters, roofers, and general contractors. Because of the volume of work, property managers receive large discounts from contractors on repairs and from vendors on materials. For example, one can purchase an exterior paint for four bedrooms single family home sized less than 2000 sf. for more than $1300. However, the same paint, from the same Kissimmee store can be sold for as little as $500 to licensed property management company.
Another problem for investor is to obtain the lowest quote for labor to perform repairs. It is very time consuming to collect 3-5 quotes for property repairs. Emails, calls, and meetings may lead nowhere, if local market is unknown. One may use tools like Thumbtack to get a quote, but there are so many cons and pros. Plus, depending on the work order, one may not receive a single quote in return. In contrast, property manager Kissimmee FL collects multiple quotes from the local experts and help investors to analyze them. If further price negotiations are needed, the agent will finalize it.
Moreover, who does not know how stressful it could be to supervise contractors and make sure that project follows its deadlines. How many time one needs to visit the property throughout the construction or repairs? Right, gazillion times. So much driving and time wasting. Well, property manager can remove this stress. The point is that property management Kissimmee FL has stronger market power to be more efficient price negotiator. When homeowners and property managers work as a team, the projects reach their goals.
Contact Mila Realty property management today to get a personalized advise what would benefit the investment project the most. Free estimates and consolations. The lowest property management fee in Central Florida. Try free and cancel any time.
Property Management Kissimmee FL
Mila Realty Property management in Kissimmee fl came across the absolutely gorgeous community – Storey Lake in Kissimmee. The community is fairly close to the main Orlando theme parks and much more. Any type of townhouses or single family homes can be built by Lennar. And not to forget about Everything’s Included promise of this builder. Any real estate buyer can enjoy stainless steel appliances, granite countertops, washing & dryer as all included in the purchasing price.
The gated community itself is the place where anyone can relax. It is all about sports, fun, and security. Storey Lake offers so much fun for kids that no parents should think about how to entertain their children. Can you only imaging that community has its own Splash Park? And not to miss the lush surroundings. Storey Lake features many nature trails and conservation areas.
Schools are important even for investors. Homeowner wants to make sure that property is located within the area which is assigned to the good schools. Story Lake common is within Oseola County. Therefore, schools are Flora Ridge Elementary, Kissimmee Middle School, and Celebration High School.
The main advantage of this subdivision is that investor can buy and rent the purchased property as either long term or short term rentals. Vacation rentals become more popular every day because Orlando is the key tourist destination around the globe. Mila Realty offers affordable property management kissimmee fl for both short and long term rentals. Now second home can be affordable because we bring peace of mind to investors. Properties start at Storey Lake only at $235 000. Property management fee in Orlando area only 7% and No renewal fee. Learn more here.
Orlando rental property inspections
Regardless the status of occupancy, our property management team conducts rental property inspections at least four times a year. No property management service is complete without visiting property frequently. Most of the homes we manage are signed up for bi-annual AC maintenance. When air conditioning specialist arrives to check the system, he will check pressures, electrical connections, test motor bearings, and clean coils in place if needed. Since our property manager will be there to make sure that maintenance has been completed, he or she will inspect entire property. We will create a report, and in case of any damages we will work with the tenant to fix the issues. The report will be uploaded in our property management software and available for the homeowner.
Our goal is make sure that property is well- maintenance and remains in the condition it was prior the lease execution. Another two mandatory rental property inspections are scheduled in between AC maintenance appointments. So, property is inspected every three months. In addition, we often conduct drive by inspections. We want to make sure that the landscaping, swimming pool, house structure, house paint, rood, and light fixtures are well maintained. All our tenant are aware of the property inspection, and we have no problem with them to get an access. Most of our leases have two months of security deposits. It helps us to make sure that property his secured to get fixed in case of any pleasant experience with the renter.
We definitely admire the work of our partners – Homeowner Association representatives. They are doing great job and inform us if any issues are noticed during HOA inspections. Mila Realty property managers are local and are always close to any property located within the Great Orlando area. We service Orange, Osceola, Seminole, Polk, and Lake counties
Contact your Orlando property management company today
Mila Realty is the fastest growing Windermere property management company. Windermere is the most preferred area because the real estate properties in this area match any taste and fit any budget. The variety of condos, townhouse, villas, or single family homes impress both the investors and renters. Windermere is all about location and high quality of living. It is close to Disney World and Orlando Convention Center. Also, it is close to prestigious Dr. Phillips area in Orlando where most famous Orlando restaurants are located.
CENTRAL FLORIDA PROPERTY MANAGEMENT
Welcome to the world of Central Florida property management and real estate investment. What we know today is that after purchasing a rental home, many homeowners like to give a shot and try to be a landlord. Pursuing this path homeowner will advertise the property, show the property, negotiate the lease terms, execute the lease, run inspections, collect the rent, and maintain the property. It sounds like too much work for one person. So, after 1-2 years of trying, homeowners decide to hire a management company to mange rental property professionally. Please note that there is a difference of being professional property manager and not professional management. Most of property managers in Orlando area will say that they are commit to values and reputation. They treat people fairly, reasonably, and respectfully. And every one says we are the best property management company. But what does it even mean? Often there is nothing behind this words.
What really makes Mila Realty different is dedicated customer support specialists. We not only talking about good service, but we commit to providing it. Our agents are more than leasing agents. We know our homeowners by name. The main advantages of working with Mila Realty are fast tenant placement, money back guarantee, and tenant guarantee. We also sensitive to our homeowners’ needs. We are flexible. When you need our help, we will go extra mile to help you out. We truly make here to make it easy for investors. We have property management software to manage and real estate MLS system to advertise. We also offer owner portal and direct deposits. Our customer support is always available. If homeowner ever needs support, there are dedicated Mila Realty property managers who can be reached any time. We have a bright future. Mila Realty is the fastest growing Orlando property management team. However, our growth is not just about numbers. We are growing community of both homeowners and tenants. We are built on trust and safety. Read what other homeowners say about our team. Because we have homeowner centric operations, we are known as leading property management company in Orlando.
We can manage whether five rental properties or 500 because we are the platform with the tools to help homeowners meet their goals. Today, Mila Realty manages condos, pool homes, townhouse villas, and single family properties in more than seven cities across four counties in Florida.
Some of our main services for short term, long term or commercial rental properties are:
- Orlando property management
- Kissimmee property management
- Davenport property management
- Celebration property management
- Reunion property management
- Windermere property management
- Winter Park property management
- Maitland property management
- Altamonte Springs property management
- Longwood property management
- Lakeland property management
- Winter Haven property management
- Winter Garden property management
- and property management in Winter Springs
When one needs a Central Florida property management, open your doors to Mila Realty, highly qualified tenants, and maximized renting incomes. Learn more about our services and affordable management fees here