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There seems to be a continual debate when it comes to the ideal length of a lease. Some landlords prefer a month-to-month lease, while others choose a minimum of one year. Each has its advantages and drawbacks, depending on the needs of both the tenant and the landlord. If you own a Florida rental property, you're in luck. We here at [State Property Management LLC](State Property Management) have written this article tp help you make a decision of which type of lease is better for you. Definition of a Month-to-month Lease As the name implies, t…

When inspecting your property after a tenant has moved out, you may notice some damage. The damage can either be normal wear and tear or can be excessive rental damage. In this article, we’ll walk you through the two types of rental damage so that you can know what they entail. What is Normal Wear and Tear? Normal wear and tear is the natural deterioration a property undergoes over some time due to aging and regular use. In a rental property, it’s normal to expect certain features to decline in condition as a result of normal usage. For exam…

As a landlord, you’ll likely have to evict a tenant at some point during your career. Multiple reasons may lead to this, like nonpayment of rent or violation of the lease agreement. Florida has an exhaustive eviction process in place and all landlords within the state must follow it and other landlord-tenant laws to successfully legally remove a tenant from their premises. The first step in the eviction process begins with serving an eviction notice. Eviction notices simply tell the tenant what they have done wrong and what they must do withi…

Are you thinking of renting out property in Orlando, FL? Currently, the Orlando housing market is doing well! Real estate offers you an opportunity to receive stable and fixed income over a long period of time. What’s more, judging from the state of the Orlando’s real estate market, you will also enjoy some appreciation of the value of your property. Landlords are seeing good returns from their properties due to an increasing population and a passive housing supply. Not to mention, people are choosing to move away from high-tax areas such as …

A 1031 Exchange gets its name from Section 1031 of the U.S. Internal Revenue Code. If you abide by all its requirements, you may be able to defer taxes on capital gains almost indefinitely. Is there a cap on how many exchanges you can do under a 1031 Exchange in Florida? Absolutely not! You can do as many as you want. Consequently, you may be able to build significant wealth quickly. For a 1031 Exchange to be successful, an investor will need to follow certain rules. The following are answers to commonly asked questions regarding 1031 Exchang…