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Property vacancies are not good for landlords. No rental income means you pay the expenses and debt straight out of your own pocket. Vacancies can also put your property at risk. Minimizing vacancies helps you take care of all the property expenses. This includes marketing, cleaning, repair, and maintenance. It’s a fool-proof way to increase profitability. Beware of lowering your standards. You don’t want someone to move in because you want to cut costs. Inadequate tenant screening may quickly backfire. Accepting any type of renter could result…

Real estate investing can be very lucrative. There’s no doubt about that. In fact, real estate has produced more wealth than any other industry in the history of the world. That said, real estate investing isn’t a guaranteed road to riches. There are certain things that you must do in order to have a successful rental business. The most important aspect is knowing how to properly budget for it. Unfortunately, this is one area that many real estate investors in Orlando, Florida often struggle with. So, in today’s article, we’re going to look at …

Self-managing your multi-family rental property in Orlando, FL isn’t simple; especially if it’s your first time. You’ll have loads of responsibilities including: Taking care of tenant issues and complaints. Maintaining and employing repairs on your property. Collecting rent, handling evictions, and tenant screening. Marketing and, not forgetting, legal compliance. The list is endless. Each of these responsibilities affect the success of your business. They all determine the quality of life of your tenants. Particularly, failure to properly ma…

Why wouldn’t you employ a few strategies to maximize your rental income? Every landlord is looking to make a decent profit off of their rental property investment. To achieve this, you have a few options. You can: Increase your rental price Offer extra services and amenities Charge pet fees Explore tax benefits Reduce your utility expenses But not all of these options are always applicable. In fact, some of them can lead to losses instead of profits. How? For one, tenants may decide to move out if you decide to raise the rent or start chargin…

There are plenty of tax benefits rental property owners can and should take advantage of. Taxes constitute a very large portion of the expenses that rental property investors incur. Additionally, paying taxes is mandatory. So, there’s no way to evade paying them without breaking the law. But, don’t stress about it. Yes, the taxes may be mandatory, but there are tricks that investors can use to minimize their tax obligations. So, what are the tax benefits of investing in multi-family real estate? Well, read on to find out. Tax Benefits of Multi-…