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Do you have a second home or investment property you are not using? Would you like to make an income through this property? It may be the time to become a landlord. In 2021, over one-third of households lived in rental properties. That means the demand for rental housing is high, while the need for trustworthy landlords is greater than ever.
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If you’ve ever considered becoming a landlord, now might be the perfect time to take the leap.
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Duties of a Landlord
Landlords have a rather hefty list of situations they should be prepared for. This includes marketing rental units, screening applicants, facilitating communication between tenants, and keeping in compliance with local codes and regulations, among many other daily operations and tasks.
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It is also important to have a catalog of resources for any maintenance and repairs that may be needed to guarantee your tenant has the best possible rental experience and to insure the quality of your property stays intact.
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Staying Up to Date
Once you’ve learned about what it takes to become a landlord, it’s time to go through the process of renting out a home. But before diving in, it’s important to be informed on the basic do’s and don’ts of renting out a property. Staying up to date on the industry’s best practices is a great way to keep yourself educated.
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Engaging platforms such as blogs, podcasts, or any media outlet highlighting property management news and trends will allow you to adapt with the market and keep potential tenants interested in your properties. This will also give you insight into devising an effective marketing plan, which is crucial for your success in the property management industry.
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Working With a Property Manager
Now that you know what it takes to be a landlord it is important to know where you can find help! Navigating the rental market can be overwhelming, here at Windermere we have a team of individuals with ample experience and knowledge to make renting your property as smooth and simple as possible.
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By working with a property manager you will be able to gain a peace of mind about your property as they facilitate the relationship between you and your tenants. Our property managers will provide a market analysis to help determine the best price for your property. We will do all of the leg work from advertising to collecting rent so that you can sit back and enjoy your new life as a landlord
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As a full-service, family-operated real estate company, Windermere brings value to the community through positive relationships between clients and team members.
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