Featuring more than 20 miles of beaches, beautiful parks, professional sports teams, golf courses and temperate winters, the city of Jacksonville and the greater First Coast area attract thousands of new residents every year. There is one thing that all these people have in common; they need a place to live. For this reason, investing in a residential rental property can be a lucrative investment business.
One of the biggest perceived barriers clients often assume when it comes to rental property in Jacksonville, or anywhere else, is the work and time it takes to manage and maintain the property. A full-service property management company can alleviate the work associated with managing your rental property. An experienced property manager will help you get the most out of your investment by ensuring you are consistently renting the property, properly pricing your rental, and delivering the best in service to boost your rental property’s positive reviews.
If you are thinking about investing in a home for rent in Jacksonville, the Beaches or surrounding areas, start by defining the list of services you will need help with. Depending on what you need, most reputable property management companies will work with you to define and meet your specific requirements. The list below outlines some of the most commonly provided services.
Common rental services provided by full-service property management companies.
- Property acquisition & sales
- Rental marketing
- Screening rental applicants
- Lease preparation and execution
- Maintenance (both large and small)
- Invoice review and processing
- Bookeeping and financial reporting
- Ongoing Tenant relations
Experience & Location Matter When it comes to Choosing a Property Manager
The best property management companies have years of experience and localized expertise in managing residential properties by region. An experienced, full-service rental property management company will be knowledgeable of local variances and ensure the property owner and the tenants are meeting all the appropriate guidelines. Being local also provides better insight into seasonal demands and ongoing real estate trends in the specific market. Finally, and most importantly, a property management company that is based in the same area as your rental property ensures that someone will be readily available to take care of unexpected needs like maintenance issues or tenant requests as they arise.
Setting the Property Rental Rate
Property rental rates in Jacksonville, the beaches and Ponte Vedra have significantly gone up in recent years—making property investment a highly desired opportunity. The best property management companies are closely following trends and helping their clients set competitive and profitable rental rates. Finding the ideal rate involves understanding the real estate competition and capitalizing on unique differentiators for each rental property. These differentiators might include location, capacity, high-end features, amenities, and more. Your property manager should also provide insight about the lease terms, which will work best for your particular property.
How to Get Started
If you’re thinking about investing in real estate, check out this free guide that our industry experts put together. Our How To Invest in Real Estate Guide helps beginners navigate through the ins and outs of the real estate industry. This tool will walk you through how to start and grow in the real estate industry as an investor from the very beginning! It’s also a helpful resource if you already own real estate but you’re looking for more insights into how to build long-term success. This guide covers everything, from preparing to buy your first rental property to expert property management tips to help you succeed as a landlord. Please contact Spectrum Realty Services, LLC at 904.389.7311 to learn more.