Individual landlords own almost 20 million rental properties in the U.S. Although many people become landlords intentionally, others obtain a rental property accidentally through an inheritance, a job relocation, or another circumstance.
If you've become an accidental landlord recently, getting your bearings and knowing what to do next can be tough. Learning about local laws and understanding how to manage your property is essential for protecting your property.
Here are accidental landlord tips that you need to know in Orlando, FL.
1. Understand Local and State Laws
If you become an accidental landlord in Orlando, make sure that you learn about all the relevant local and state laws. You should learn about the requirements of landlords and tenants in the area and be sure that you're meeting them.
It's important to follow regulations as a landlord in Florida. Maintaining a relationship with a tenant correctly can help you avoid legal problems and protect your property.
2. Stay On Top of Property Maintenance
Another important thing to pay attention to is property maintenance. If you own a property, you need to take care of it and keep it well-maintained. This will help you keep your tenants happy and protect your property.
It's a good idea to inspect properties regularly. Check for plumbing issues, structural problems, and signs of damage.
Many things need to be taken care of including routine HVAC maintenance, lawn care, pest control, and more. Be sure to budget for maintenance expenses throughout the year and ensure you'll be able to cover anything that comes up.
3. Prioritize Tenant Screening
As an accidental landlord in Orlando, it's critical to screen your tenants carefully. Quality tenants will take care of your property. They'll cause you fewer headaches throughout their lease.
Always screen tenants by performing background and credit checks. Get a tenant screening report to learn more about their behavior and reliability. Screening your tenants will be well worth the time and effort and can help you have an easier time as a landlord.
4. Hire Professional Help
Staying on top of property management, screening tenants, and keeping tenants happy can sometimes feel like a full-time job. It's not a bad idea to hire some extra help, especially as an accidental landlord.
Consider working with a property management company. A property manager can help manage tasks such as tenant screening and property maintenance for you. They can help ensure your property is being taken care of while helping save you time and energy.
Accidental Landlords Can Be Successful
Many accidental landlords aren't prepared for the duties that they'll need to take on. Understanding local and state laws, paying attention to property maintenance, and focusing on strong tenant screening are great first steps.
If you need help managing your rental property, consider getting in touch with SunnySide Properties. As a husband and wife team, we work together to provide full-service property management to the Orlando area while ensuring attention to detail and satisfied clients.
Ready to learn more about us? Contact us today to learn more about our property management services in Orlando, FL.
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