The Florida housing market can sometimes be unpredictable and stagnant, leaving residential houses empty and on the market for years. With professional property management services by Spectrum Realty Property Management, LLC, you can start generating income by renting your property. Choosing to rent your vacant home can prove to be a fruitful business decision for many Jacksonville homeowners and property investors. Spectrum Realty can be your trusted real estate partner in Northeast Florida!
Whether your property is a second home or a multi-unit building, Spectrum Realty can help find the right tenants and manage your property while you generate passive income. We’re here to guide you and create a stress-free property management experience. Ready to consider renting your home? Contact us by calling 904-454-4572 or email [email protected].
Current Housing Market Trends – Why Renting Might Be Your Best Decision
According to Redfin records, 2023 was the least affordable year to buy a home. Someone making the $78,642 median U.S. income in 2023 would’ve had to spend 41.4% of their earnings on monthly housing costs if they bought the $408,806 median-priced U.S. home.
Due to demand, the rental housing market has also gone up. With the increase of remote-capable jobs and migrating populations ever since COVID, many homeowners have accepted new jobs, moved cities, and are left with their old home sitting on the market. Hiring a property management company to rent the home can help get you through a tough market. Although you might not want to (or don’t have time to) be a landlord yourself, having an income-producing property can be a huge benefit. By partnering with a licensed, professional property management company like Spectrum Realty Property Management, the day-to-day responsibilities will be handled for you. That is also extremely helpful if you no longer live in the same city where the property resides.
Spectrum Realty is equipped to support homeowners throughout the entire property rental management journey. Beginning with a free rental analysis, our expert team will use local market trends and research to draft an in-depth report on your unique Florida residential rental property. We’ll use an expertly crafted marketing strategy to boost your residential property’s visibility across multiple platforms. Our team will tour the property with prospective tenants, handle tenant screening process, write the lease agreements, address maintenance requests, and collect monthly rent payment on your behalf. Owning a rental property is hassle-free with Spectrum Realty as your partner!
Our first and foremost goals are to increase your return on investment (ROI) and protect your property. Nevertheless, renting your property may not be an easy choice to make, so we are happy to answer questions and provide local rental market insights to help inform your decision!
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