4 Reasons You Should Hire a Property Manager

 

While for some people, the “do-it-yourself” approach is the best, having someone who can handle property management might be handy 

Managing a rental property can be a financially rewarding task. But it can also be tricky if you’re just getting started. That’s why sometimes you should hand over that part of the business to property managers. But, what do they do? 

 

What’s a property manager? 

 

According to Investopedia, a property manager is “an individual or company that is hired to oversee the day-to-day operations of a unit of real estate.” This means that if you can’t oversee this part of the deal or you’re not available to handle the property, you could hire them to help you during the process. Easy, right? 

 

Now that you know the basic definition, here are some reasons why you should have a property manager around to help you: 

 

1. 1. It’ll help you find, vet, and secure tenants. 

 

Your property manager will have the knowledge to find, vet, and secure the best tenants. And which skills do they need? They should know how to properly advertise your property, find potential tenants, and manage inspections. 

 

After these inspections, a property manager will have all the applicants’ information and advise which is the best choice. 

 

2. 2. Manage inspections, repairs, and maintenance 

 

The property manager will regularly inspect to make sure the tenants are taking care of the property. If tenants request any repairs or maintenance, the manager will also coordinate with the right team to fix any inconvenience. 

 

3. 3. Property managers know their paperwork and the law. 

 

Probably the best advantage is that having a property manager means that you don’t have to handle all the legal paperwork, since that’s something they know like the back of their hands. They have a better understanding of state and federal laws around tenant selection, possible eviction, and more, while keeping a professional relationship with your tenants. 

 

4. 4. They’ll give you market advice. 

 

Since the real estate market is constantly changing, the property manager will pay attention to updates around it. It means that they’ll give you proper guidance on matters like increasing rental fees, the best time to rent, etc. All to ensure a more significant investment return. 

 

When it comes to finding the best professionals in the area, you can call South Florida Riches. We’ll be helping you before, during, and after the process. 

Hurricane Insurance: Is it a must?

One of the first things people take into consideration when they want to invest in Florida is its weather, and it’s no secret that Miami’s temperatures are great all year around… until hurricane season starts.

For most, it’s a tense time where everyone should be prepared.

So, what’s the first step?

At Gables Riches, we take care of your safety, so have these emergency numbers in hand:

How do I protect my home?

A home is also a shelter; it’s a place where all your family should feel safe from day one. That’s why at Gables Riches we don’t only see your house as a place: it’s where you build a life. So, from day one, you should have a Property Management and Property Insurance service that can look out for your well-being and comfort.

At Gables Riches, we offer these services taking everything into consideration: area, type of property, type of insurance, etc. It doesn’t matter what type of investment you have, all that matters is that you have all you need in hand.

Hurricane season is upon us

There are some types of insurance that can cover some damages produced by hurricanes, like strong winds and superficial damage. But sometimes, flooding is the biggest issue.

It’s important to know that by US law, it’s mandatory to have a flooding insurance when you buy properties near stormy areas. And the range of policies cover from personal items to structural damages.

Check what your insurance policy covers and which arrangements you must do to get full coverage.

Gables Riches offers a top Property Management and Property Insurance service so you can protect your home –and your family– at all costs! Contact us!

Top 3 areas to invest in Miami

Miami is a fast-paced growing area. Property investments have increased over the last 15 years thanks to Miami’s lifestyle. According to the Florida International University’s Metropolitan Center, Doral is one of the fastest growing cities in the state, with a growth of 26.1% between the years of 2010 and 2016.  

Now, we’ll tell you about some of the fast-growing areas to invest in Miami:

Between 2015 and 2016, cities like Bonita Springs (4.5%) and Fort Mort (4.5%), were some of the fastest growing cities thanks to their environment and possibilities of investment.

Miami, on the other hand, grew a little bit over 2.9%. Between the years 2010 and 2016, the city gained nearly 53,000 residents, and last year alone (2017) it grew by 13,000 new residents.

Other cities around the South Florida area with a resident growth were: 16,408 in Miramar, 13,200 in Fort Lauderdale, 11,700 in Boca Raton, 11,200 in Hollywood, 9,900 in Davie, 8,961 in Coral Springs and 7,638 in West Palm Beach.

South Florida hasn’t lost population in over six years, making this area an attractive investment opportunity. And that’s where Gables Riches comes in. We offer Real Estate, Property Management and Property Insurance; we help you during the entire process. All you have to do is contact us and we’ll make your dreams of living in Miami come true.

Source: http://bit.ly/2G8Ou2r