Rental Property Investment Tips

Have you been thinking about investing in rental properties in the Jacksonville, Florida and surround areas?  If so, we at Suncoast Property Management have some ideas that will provide you with an overview of some simple ways that you can identify homes that would make a great rental investment.

  • LOCATION! If you have ever bought or rented a home before, then you have heard the phrase, “LOCATION LOCATION LOCATION!!” This is an idea that rings true and always will. You should always try and choose a location that is near shopping, restaurants, transportation, grocery stores, good schools and parks. This is important because these factors help to determine your monthly rental amount and can help to set the home apart from similar homes but in less desirable locations. A good location can also make up for any possible shortcomings that your home may have, like no garage, small bedrooms or square footage. In our experience, residents find where they want to live first, and then match other details next. Finally, choose your location wisely because – remember – the location cannot be changed!
  • Tenant Occupied. Purchasing a property that is already occupied with a tenant, you have instant income. We highly recommend this option as you could save yourself quite a bit of money in vacancy costs and the money it requires to place a new tenant in your newly acquired property. There is one word of caution that we recommend before making this purchase…. You need to ask to see a copy of the tenant’s current lease as well as the receipts for the monthly rent payments that have been collected. It is also a good idea to make sure the current residents have been screened prior to taking occupancy. This will show you if your tenants are making their payments on time as the only thing worse than a vacancy is a tenant that does not make their payments.
  • Turn-Key Homes. Because Suncoast Property Management has been in the investment property business for over 10 years, we understand that buying a home that is not “rent ready” can be daunting and more costly that you anticipated. So, we recommend that as you begin to purchase your investment property, you start with a turn-key home. This means that the home is completely ready to be rented, just turn the key and move in. With a turn-key investment, it will help to limit the time your new investment is vacant and you will be able to begin recouping some of your cost more quickly. So, it is a good choice to purchase properties that need little to no work.
  • Change your viewpoint. Instead of looking at a property from an investors eyes, try looking at a property through the eyes of a tenant. This will pay off for you in the long run.  Ask yourself, would I live here?  Would I suggest that my child that is looking at renting a new home live here?  Would I recommend this house to my friends? It is so important to consider all avenues of desirability like location, amenities, the local crime rate, the schools rating, the space and layout of the home, the yard, the nearby restaurants, grocery stores, and events.  As obvious as this may seem, it is easily overlooked when purchasing one of your first investment properties.

To discuss purchasing investment properties in the Jacksonville, Florida and surrounding areas, please contact Chandler Janger by email or you can reach her on her office phone.  Chandler is our Investment Relations Manager and a Realtor®.  She will be more than happy to walk you through the process of purchasing your new investment property or if you've already made your purchase, she will be happy to discuss our Management Packages with you.

We look forward to working with you.

You’ve Moved In, What Next?

You’ve finally moved! Everyone has moved, so we all know that moving is a task that is exciting and exhausting at the same time. But, now that you’ve settled in your new home, what’s next? It’s time to get a feel for your new neighborhood and new community. Simply moving to your new home doesn’t mean that you’re finished with this chapter, it’s time to check out your surroundings and your neighbors who live in it with you. Here are some tips and local information that may be helpful t you:

Step 1: Get to know the people in your neighborhood.
Living in Jacksonville can be daunting. It’s big, isn’t it? It’s always a good idea to meet the people who live closest to you as they can give you a better understanding of the local shops, restaurants, grocery stores, local events, etc. If you are a bit shy, start off slow by waving as you walk your dog, or while you’re in your yard planting some flowers. You could even go so far as to have a house warming party to introduce yourself to your neighbors. That’s a great way to know your neighborhood and your community.

Step 2: What local events are happening?
When you head to the grocery store, convenience store, or local café… be sure to check out the free publications and magazines that often sit at the front of the store. There you can typically find plenty of events that are coming up near you. Attending a local event is another great way to meet new friends and get to know more parts of your town that you normally might not venture to. Be sure to mark your calendar of anything that sounds like fun to you, and talk to your new neighbors about going with a few of them.

Step 3: Map It!
You don’t have to use it, but making a map of all the cool places and event locations is a great way to commit it to your memory. As you are out and about, make a quick not of areas that are important to you. For example: • Grocery stores, café’s, farmers markets • Restaurants and bars • Doctors’ offices, hospitals, and pharmacies • Convenience stores, gas stations • Shops and theaters • Parks, walking/biking trails, dog parks Your physical map will create a cognitive version of your area. So the next time you need to pick up your prescription, you’ll be able to quickly recall where to go.

STAY SAFE! There is nothing more important that your safety! So while you are exploring, meeting your neighbors, and enjoying the local events, please keep in mind that it’s best not to listen to music or anything that might drown out our surroundings, if you are out walking alone. Always stay completely aware of what and who is around you. And do your exploring in the day time until you are 100% comfortable with your new community! Welcome Home!

Visit our website and our county information page for information on your county. And as always, if you know of anyone that may be in need of a property management company, please refer an owner to us! If you know of anyone that may be moving in the near future, have them give one of our leasing agents a phone call or email! We are always happy to help!

Time to Reboot!

Whether you are the homeowner or the resident, it’s a good idea to do your best to protect your investment/home. The repair bills for a destructive roof leak or an inconvenient appliance failure can really catch homeowners off guard, and while it may seem like a disaster at the time, standard insurance policies don’t cover damage or repairs that result from normal wear and tear or lack of maintenance.

It’s a good idea for you to expect some natural deterioration of your property and to budget appropriately for repairs that are likely to become necessary given the age or condition of your home.
The hardiness of the materials used to build a home generally determines how long the components are likely to last, but the quality of the installation, intensity of use, local climate conditions and level of maintenance can all impact the actual longevity.
Suncoast Property Management is a full-service management company and we are here to help protect your investment and we are here to assist the resident. We have a maintenance department specifically designed to do just that. We also have a Renovation team that can completely rehabilitate your home. Whether it needs a few touch ups or a full face lift … Suncoast has you covered.
Contact Chandler Janger to have your home managed by Suncoast Property Management. Chandler Janger (904) 429-2516 cjanger@suncoastrentals.com.
Don’t forget to check out our Referral Program!!

REFER AN OWNER PROGRAM

Suncoast Property Management has been diligently working on a highly demanded referral program.  The Jacksonville based Property Management Company is actively seeking to expand by adding new owners to their management portfolio. Suncoast is interested in managing single-family homes, condos, town-homes, apartment complexes, and commercial buildings. If you’re a licensed Realtor®, for every owner you refer to Suncoast Property Management that goes under a management agreement, you will receive $50. For anyone not licensed, each owner you refer that goes under a management agreement, you will be entered into a drawing for:

  • 1 Yeti Tundra Coolervalued at $349.99 Drawing Held at Suncoast Property Management on Thursday, March 31 2016 at 4:00PM - You’ll get your choice of color (white, desert tan, or ice blue)

If you or someone you know is aware of a qualified lead, please have them call Chandler Janger, Investor Relations Manager for Suncoast Property Management at 904-429-2516 or email her at cjanger@suncoastrentals.com.

Suncoast Property Management is also interested in acquiring properties that are already under management with other Real Estate firms looking to sell portfolio accounts and/or individuals looking to sell their investment property. Even if your property needs any form of a rehabilitation, Suncoast Property Management is interested in looking at it. We can close within 2 weeks if we go under an AS IS purchase and sale contract with you.

Suncoast Property Management, LLC launches a new look and feel to their website.

Suncoast Property Management is excited to announce the launching of their brand new website, which can be found at www.myfavoritehome4u.com. They have been steadily working on the new site for several months. Some of the changes you will see on their new site are:

  • Completely redesigned look to the entire website
  • Mobile Friendly design
  • Improved Tenant and Owner Portal Access
  • Available listings are now separated between rentals and sales, providing you easier access to the home you are searching for
  • Easier access for your online payments
  • Easier access to schedule tenant maintenance requests
  • Suncoast Property Management news can be found in the new blog addition to the site
  • Simple form to complete, found on the lower portion of each page to quickly request contact from a Suncoast Property Management Team Member
  • Easily connect with Suncoast Property Management via their social networking links
  • Apply for a rental property online or download a copy of the tenant application
  • Request more information regarding Suncoast Property Management becoming your property management company
  • Links to Duval County, St. Johns County, Nassau County and Clay county utilities
  • Contact information for the leasing team and the staff is now at your fingertips

Suncoast Property Management proudly invites you to visit their new site at www.myfavoritehome4u.com and let them know what your thoughts. For more information on any services that Suncoast Property Management offers, please send your request to info@suncoastpropertymanage.com

Suncoast Property Management, LLC puts focus on customer service

In June of 2015, Suncoast Property Management outgrew their space and purchased a new office building near I95 and University Blvd in Jacksonville. Over the last year the business has grown substantially, which is thanks to their loyal tenants and investors. Suncoast Property Management recognizes that their success is due to how well the office team works with customers. Between their busy leasing agents, marketing, application processing, turnovers, maintenance requests, rehabs, accounting, acquisitions, collections, and Investor Relations, Suncoast Property Management is operating like a well-oiled machine. While successfully managing over 1100 properties to date, Suncoast Property Management is equipped to manage countless properties. The staff at Suncoast Property Management is thoroughly trained and appropriately managed. There is no property too big or too small. Suncoast Property Management understands and appreciates that everyone needs somewhere to live, and Suncoast wants to help facilitate both placing a tenant in your property, and helping a tenant find their new home that is professionally managed by Suncoast Property Management.

Suncoast Property Management offers their customers competitive management fees, they have a gentle application process, and they maintain a low vacancy rate. At Suncoast Property Management, they clearly pride themselves in offering their clients responsive, competent and excellent service. There is no question that their customers are the most important part of their business, and they work tirelessly to ensure their complete satisfaction.

To learn more information about the property management services that Suncoast Property Management, LLC offers – please contact Chandler Janger, Realtor and Investor Relations Manager at 904-517-5939 X 1007, or by email at cjanger@suncoastrentals.com. Feel free to visit www.myfavoritehome4u.com to see all of their available listings and email info@suncoastpropertymanage.com for more information regarding a listing you may be interested in.

**BUY* *INVEST* *RENOVATE* *LEASE* *LIST* *SELL**