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.
Mila Realty Commercial Property Management Orlando is team of experienced property managers. Locally owned and operated. Our expertise enables us to ensure that your real estate investments yield the highest occupancy, highest rental rates, lowest maintenance expenses. Most importantly, highest rate of return possible. We specialize in leasing and management of commercial properties such us retail, retail, office, and warehouses, storages, and industries spaces. We cover Orange, Osceola, Polk, and Seminole counties as well as the cities Orlando, Kissimmee, and Davenport. Do not seek any longer, contact today for a complimentary Comparative Market Analysis (CMA), free estimate, and any commercial real estate questions.
Or for more information about Mila Realty Commercial Property Management Orlando, please fill out the contact form.
Mila Realty Commercial Property Managers Really Can Help to:
Mila Realty Commercial Property Management Orlando service fee includes:
- Collecting rent
- Notifying tenants when they are late
- Assessing and collecting late fees
- Coordinating evictions
- Routine property maintenance (utilities, cleaning, lawn, pool, AC maintenance, etc)
- Regular property inspections and move-out inspections
- Receiving maintenance requests from tenants
- Collecting quotes for the property improvements and repairs
- Submitting quotes to the owners for approval
- Representing the owners’ properties in the local government instructions such Tax Collectors and Department of Business and Regulations
- Our advanced property management and accounting software calledBuildium Property Management Software. Some of the benefits that we are able to pass on to you:
Full Property and Tenant Accounting
Full bank, property and tenant accounting to keep property owner’s record keeping simple and accurate.
Automatic ACH Payments
Automatic ACH support to allow your tenants to make secure payments online. Recurring support included to schedule payments or setup recurring weekly or monthly payments
Tenant ScreeningTenant screening provides you the security of knowing the history of each tenant you place as well as if they have past challenges paying bills. Our reports provide real-time reliable criminal as well as financial background check service built-in.Secure Online Access for Tenant & Property owners
We provide secure online access to tenants and accept rent payments online.
Track Income & Expenses
We provide an easy to use general ledger accounting system complete with all the reports that are easy to understand by both investor and real estate accountant. Monthly and year-end financial reports will make your year-end tax filing as simple as possible
Lease your property. Mila Realty Commercial Property Management Orlando leasing fee includes:
- Assessing market rent amount
- Advertising the property for rent
- Showing property to potential tenants
- Coordination application process
- Screening potential tenants
- Procuring lease
- Collecting security deposit
- Performing move-in inspection