Given its high rental income potential, becoming a landlord and property owner in Davie, Florida, can be one of the most financially wise decisions ever. Employment marketplace ZipRecruiter says the average income of landlords in Florida is $65,224, with the highest earners making almost $113,000 yearly!
However, to achieve your maximum income potential, your first order of business should be finding tenants you can rely on to pay rent on time and care for and respect your property. Partnering with a leasing-only service is one of the fastest ways to achieve this goal.
PMI Best Assets has shared tips in this guide to help you choose the best service, so please read on.
Reputation and Reviews
First, assess the reputation of the leasing-only service. Look for reviews and testimonials from other landlords, property owners, and rental managers in Davie, Florida. A proven success record of finding quality tenants reflects strong management practices and a robust tenant screening process.
Screening Processes
According to the National Conference of State Legislatures (NCSL), around 77 million or one in every three American adults have a criminal record. Many others have multiple eviction records and histories of not paying their debts or financial dues on time.
A reputable leasing-only service's job is to determine if your rental applicants are part of those statistics. For this reason, it's imperative to evaluate each of your prospects' tenant screening processes. An effective leasing service must conduct not just any but all the following steps:
- Criminal background checks
- Credit evaluations
- Employment checks
- Rental and eviction history checks
Such comprehensiveness can minimize property rental risks and your odds of renting out to the wrong tenants.
Overall Expertise
A leasing-only service's primary job is to help you secure high-quality tenants. After this, you'll handle all other rental and lease management tasks and chores.
Still, a reputable and experienced service provider can help you navigate lease agreements. They can help ensure your rental contract's terms and conditions comply with local laws. Doing so allows them to help you reduce potential conflicts with future tenants.
Other Services
A leasing-only service is usually the most basic option offered by full-service property management companies. Your service provider will help you find stellar residents, but you'll be responsible for handling them and managing your rental and the lease.
If you'd rather earn rental income hands-free, consider opting for full-service property management instead of leasing-only services. With this, your manager will:
- Advertise and market your property
- Find and secure tenants
- Manage your renters
- Maintain your property
- Collect rent
- Perform accounting
In short, you'll have little else to do except enjoy your stable rental income.
Ready for a Reliable Leasing-Only Service?
From having a stellar reputation to compliant screening policies and overall lease management expertise, these are the primary factors to consider when choosing a leasing-only service.
Luckily, you don't have to look far and wide to find a service provider that ticks all the boxes.
Our full-service property management firm, PMI Best Assets, is here to help. We're professionals experienced in real estate and property management, including property marketing, tenant placement, rent collection, and even accounting. We're also a proud member of PMI, a fast-growing franchisor that has been perfecting the property management sector for over 20 years.
Call us now for a consultation and free analysis!
