Read Part I

Part II

6) Thorough tenant screening: This does cost money, but comprehensive background screening and reference checks can really prevent problems down the line.

7) Knowledge of current rental property laws: Property management can get sticky. You definitely want to be very familiar with the laws, landlord responsibilities, tenant rights and more. You must also ensure you keep your knowledge current. Property management companies, like ours, employ professionals who stay educated in this area and try to help minimize liability.

Appropriate insurance: The type of rental you have and its location can determine what type of insurance you may need. Discussing this with an insurance professional can help you decide the best coverage. The weather environment plays a role, but also the type of rental, such as long-term or short-term, and how long it may be vacant at times.

9) Do the math: You don’t have just the mortgage to think about. Factor in property taxes, which run the gamut, possible repairs or upgrades needed before you begin renting or that may need to be made in the near future, maintenance, etc. You can research property tax info via the local Property Appraiser’s office.

10) Inspections: Before you purchase the property, get in inspected by a reputable inspector. Also ensure inspections are completed prior to a tenant moving in, inspections during the lease as needed or as stated in agreement and move-out inspections.

As you can see, being a landlord carries a huge responsibility. However, you can reap great rewards and many investors/homeowners generate great income by owning a rental home. Enlisting help of professional residential property managers, like us at International Golf Realty, can take away many of the headaches that might often come with managing a rental property. Call us today if you would like to see any properties we have for sale, that would be great rental homes. If you already own a property that you would like to rent out, let’s talk!                                      

(904) 940-9990

If you are thinking about becoming a rental property owner, here are 5 of our 10 items you should consider for a better experience. Look for the second half of this list in a couple weeks. It is by no means an all inclusive list, but it includes areas you definitely need to research.

1)      Location, location, location: You might be able to snatch up cheap deals in a neighborhood plagued with crime and a high number of vacancies, but think carefully before taking that plunge. Research nearby conveniences, such as where your tenants would get their groceries and gas, etc. Consider what makes a “good” tenant and where a good tenant might like to live—a good tenant means one who will pay rent on time, take care of the property and adhere to the lease agreement.

2)      School options: Families looking for rental properties might be interested in properties near schools and childcare centers. If a rental property is near a college or university, you will have a larger population of college students as potential tenants.

3)      Employment opportunities: When choosing a property for purchasing to rent, think about the employment opportunities that may draw a tenant to the area. Perhaps a new hospital is being built, a company is increasing in size, a new franchise is coming to town, etc. Local business publications can help you stay informed of such news.

4)      Weather: Depending on the demographic you are targeting, you might want to think about the weather in the potential rental area. Tenants may want to have beautiful weather for various outdoor activities, such as cycling and golf. If natural disasters are a worry, you will have to consider the appropriate insurance necessary for the property and dwelling.

5)      Perks: So many housing developments today have wonderful amenities for residents. Look for potential rental properties that can offer that. Clubhouses, pools, trails and more. If some tenants are reluctantly renting, they may want to get as much as they can with a rental home.

Check back in a couple weeks for Part II of this list!

We offer Jacksonville Golf Vacations Rentals and Golf Vacation packages.

Jacksonville is a hot spot for golf vacations in Florida. Home of Tiger woods, VJ Singh any many other pros because of the fantastic weather year round and the amazing golf courses the areas has to offer.

Our Vacation Rental Golf Courses include:

TPC Sawgrass
King and Bear
Slammer and Squire
The Golf Club at North Hampton
Cimarrone Golf Club
The Golf Club at Julington Creek
and more…

Our Vacation rentals Communities include:

Costa Verano
Deerwood Place
Heritage Landing
Isles of the World
Kensington
and more…

Experience the golf vacation of your life and the best golf vacation rentals Jacksonville has to offer.  Call International Golf Realty today.

• The Lightner Museum features a range of furnishings, Tiffany glass and other artifacts from the 19th century. The museum (formerly Hotel Alcazar) was built in 1887. Railroad magnate Henry Flagler commissioned architects Carrere and Hastings to design the beautiful Spanish Renaissance hotel. View hours and admission

• Swim with the dolphins at Marineland. A variety of activities are available such as hands-on experiences, observing, learning and even kayak tours. See programs and prices

• Brave the Crocodile Crossing at the Alligator Farm. You don’t have to go to South America to zip line! Check out the lemurs, tropical birds, crocodiles and alligators from a real bird’s eye view.

• If you want a bird’s eye view from even higher, hop on a helicopter for a true aerial perspective.

• Shopping never gets old for many of us, so hitting the outlet stores is definitely an option as well.

For other ideas about what to do and where to eat in the area, visit oldcity.com

OWNING

• Out-of-pocket expenses at time of purchase: down payment, closing fees, etc.
• Out-of-pocket expenses that occur throughout the year:  maintenance costs, property taxes, community association fees, homeowners insurance, utilities
• Credit check required for loan
• Staying in your home once you’ve begun paying on the mortgage starts to pay off after about 5 years (as opposed to renting) for an average-priced home
• No pet fees

RENTING

• Usually fair/poor credit doesn’t affect your rent
• Upfront costs may just be a deposit in addition to first & last month’s rent
• Little to no maintenance costs
• Pet deposit fee may be required
• Breaking a lease could be costly (such as one month’s rent) depending on when within your lease it occurs
• Renting can be less expensive than buying, depending on how long you stay in the rental and your needs (if you plan on staying in a home for more than 5 years, it make more sense to buy, as you see above)

Check out this buying/renting calculator via the New York Times website to estimate your personal costs of each in detail. Also, remember that here at International Golf Realty, we can help you: find a home to rent, buy your own home, buy a home to rent out, find tenants for your homes AND manage all the nitty gritty details of renting a home to a tenant. We do it all!

Cleaning too much, or with strong chemicals could definitely create its own wear and tear.

Some of your belongings that may benefit the most from careful upkeep include clothing, microwaves, refrigerators and carpet.

Clothing

• Wash items according to the label’s directions, and don’t underestimate the power of hand-washing those delicates.
• Use bleach as little as possible. It can eat away at fabric, making the threads thinner and more subject to damage.
•  Less detergent is more, even if you think an article of clothing is particularly dirty. It may help to soak prior to washing, or add a cup of vinegar to the rinse cycle.
•  Treat stains immediately, before they have time to set. Check out this stain removal guide that covers everything from butter to grease.
• Reduce the time your clothes spend in the dryer. Try line-drying them until almost complete, then toss in the dryer a few minutes to soften.

Microwaves

• Using your microwave with leftover food inside causes that food to keep cooking into its surface, making it more difficult to remove. Wipe any spills immediately. For that caked-on, crusty mess, heat a bowl of vinegar for a couple minutes in the microwave. This helps to soften the gunk while freshening it. Lemon juice and water works as well.

Refrigerators

• It should go without saying that the inside of your refrigerator should definitely be cleared and wiped down occasionally, even if it doesn’t look dirty. Germs and grime aren’t visible to the naked eye, and certain spilled items always aren’t either, such as white milk or the white of an egg.
• Clean coils can keep your fridge cooling efficiently. When pet hair, dust and other debris gets sucked up under your fridge by its fan, the motor has to work harder, creating unnecessary wear and tear. Your coils may be on the back of your refrigerator or the bottom, depending on its age. Disconnect from electricity before attempting! Step-by-step instructions here
• Also be sure to clean the fridge’s door seal, then rub petroleum jelly (Vaseline) on the seal to prevent it from becoming brittle.

Carpet

• Following a pattern involving these 4 types of cleaning will keep your carpet in its best shape: vacuuming, spot cleaning, interim cleaning and restorative cleaning. The Housekeeping Channel Website has a great guide here that details the steps for each type of cleaning, along with how frequently each should be completed.

Some of our Minimum Cleaning Standards…

• Keep windows and storm doors clean, inside and outside; interior cleaning at least once a month, exterior cleaning every six months.
• Wash between windows and screens quarterly.
• Wash interior doors, doorways and walls in heavily traveled areas every 1- 2 months.
• Clean dust, dirt and debris from the upper and lower sliding glass door tracks monthly.
• Clean stove, drip pans, under drip pans, oven racks and drawer, broiler pan, hood, filter and vent biweekly.
• Mop and wax vinyl floors biweekly.
• Dust baseboards, windows sills, window grids, tops of windows, ceiling fans, doors, ceilings and corners of the room monthly.
• Clean AC/Heat air return grate and change filter each month. (TIP: When you pay your light bill, change your filter)
• Clean and sweep out fireplace. Clean fireplace grate, screen and glass
• Replace burned-out light bulbs as needed, clean lighting fixtures as needed.
• Curtains and blinds, if provided, should be cleaned or washed semiannually.
• Bathrooms should be cleaned weekly. This includes toilet bowls and base, sink, mirror, floor, bathtub and shower (including walls). Wipe out medicine cabinet, drawers and cabinets.
• Caulk tub as necessary.
• Sweep out garage as needed.

A few tips: If there is a cleaning task you particularly dread, try doing it first to get it out of the way. Also, reward yourself after you give your home a good scrubbing.

For less abrasive yet effective cleaners, check out the following:

Baking soda uses around the home

Cleaning with Vinegar

Lemon Freshness

Issue: Little space

Solutions:

1) Only bring in furniture that can serve double duty: a side table that can be a desk, work station, or dining area; an ottoman handy for propping feet, storing blankets or holding a tray of snacks; a room divider that provides privacy and displays photos or artwork.

2) Use storage pieces that are the same color or coordinate well. For example, 4 identical baskets look neater than a few plastic and cardboard boxes.

3) Eliminate magazines, books and other items that necessitate more furniture. Keep some of your favorites, and then donate the rest. So much information is accessible online and via e-readers. Save your space for living.

Issue: Rental Home Seems Dull

Solutions:

Wall paint isn’t the only place where color can live in a room. Consider the following suggestions.

1) Use your favorite painting or scene to find 2-3 colors you like. Bring them into your space through pillows, lamps and throws.

2) Think of creative places you can use fabric and drapes for dramatic effect, like framing a doorway or in the corner of a room.

3) Put more thought into your wall art. You may have several photographs that you can enlarge through a site such as shutterfly.com. Consider vacation scenery, closeups of your family members, pets, etc.

Do you have a favorite decorating tip that helps you make a space your own? Let us know!

Helpful Links

Apartment Therapy

The Borrowed Abode: Adventures in Decorating a Rented Home

Designs for Rent

This quarterly analysis, compiled by HomeVestors of America, Inc. and Local Market Monitor, serves as one of the few researched and reliable indicators of future rental home performance and success. For this report, 100 U.S. markets are ranked according to expected returns on single family homes which are being maintained as rentals. Such reports can help investors learn appropriate purchase prices of potential rental properties.

Of course, the reason that single family homes are lower priced is because of the obvious factors almost everyone knows about– mainly fewer jobs, too many homes built too fast and an overall poor economy. However, Florida remains a great spot for rental property income due to several pros that outweigh the cons. According to the U.S. Census Bureau, our population growth rate has continued to stay above most other state averages. And while our state’s economy has certainly been affected by inflation, our living costs are generally among the lower end, considering our population size. In addition, housing prices are either bottoming out, or will be very soon, making now one of the best times in decades to buy. Our great weather combined with fabulous destinations doesn’t hurt!

If you are thinking about purchasing a home to use as an investment property, a real estate professional at International Golf Realty can assist you each step of the way: finding a property to purchase, placing a tenant after the sale is complete, and managing all the ongoing (and often burdensome) issues surrounding a rental home. It’s not a process you want to attempt without the help and expertise of our team members.