Being a long distance landlord can definitely come with some challenges. But if you own property in one of the top housing markets in the U.S. – which includes a number of desirable Florida cities – all of that work can be worthwhile.
Due in large part to a growing population, steady business climate, and a rise in the median property values, the Sunshine State has several cities that are currently ranked in the top 20 when it comes to emerging real estate trends in 2019.
On top of that, Zillow estimates that the median Florida property value is approximately $230,000 – which represents an increase over last year (2018) of more than 8%. Further, the website (Zillow) also anticipates that this figure will rise in 2019 by 5%. And, with a forecast for additional interest rate increases in the near future, it will likely drive a resurgence in rents – and that, too, can be very good news for Florida landlords.
Certainly, one of the key drawbacks to being a landlord who does not live in close proximity to their investments is the added time and expense with managing your properties and your tenants.
But it doesn’t have to be that way.
By partnering with an experienced local property management firm like Benoit Management, you can still enjoy your incoming rent checks, but without being “on call” 24 /7 for property maintenance issues. Nor will you have to screen for new tenants, or even collect the rent money every month.
Benoit Management specializes in working with long distance investment property owners who have rentals in the Naples, Florida, and surrounding area. If you’d like to find out more about how we can make your life easier by taking on your property management duties – while still enjoying the income and the equity growth in your investments Contact Benoit Management today.