If you’re brand new to the business of renting out property to generate passive income, this beginner’s guide to property management in Gainesville, FL is for you. By way of introduction, we’re K&R Property Management, a sister company of Rabell Realty Group, voted best Gainesville Real Estate Agency in 2022.
Property Management Basics
Hiring a property management company in Gainesville, FL can save you time, money, and stress. A professional property manager has the knowledge and experience to handle all the details of renting and managing your property, so you can relax and rake in the rental income.
Property management is a combination of day-to-day upkeep and long-term planning. Broadly speaking, a good property management company:
- Takes care of all the day-to-day tasks associated with owning and operating rental property, from finding and screening tenants to handling repairs and maintenance.
- Has good relationships with local vendors and service providers, so you can be sure you’re getting the best possible deals on repairs and services. This is one way a property manager maximizes your investment income.
- Handles leasing and keeps you up-to-date on the latest laws and regulations regarding rentals in Florida, so you can be sure your property is protected and in compliance.
Now let’s look at the Gainesville rental market, the unique property management challenges it poses, and how a seasoned property manager can help you tackle them.
The Gainesville, FL Rental Market
Every rental market is different. K&R Property Management is based in Gainesville and exclusively serves the region, so we know the market inside out. Gainesville has distinct rental seasons, which are largely structured around the academic calendar, and a population on the younger side.
We’ve helped hundreds of families, students, and young professionals find their perfect apartment, and we can help you keep your vacancy rate low and your rental rates competitive, while also taking care of your property and your tenants.
How We Help Property Owners
Our tenant placement services market the property using our experienced onsite marketing staff to secure a potential tenant or tenants.
We advertise on all the highest trafficked rental listing websites, including Trulia, Zillow, Hotpads, Apartments.com, Zumper, Homesnap, Realtor.com, and CraigsList.org.
For the student and young professional market, we give you the option of creating individual leases and the requirement of a co-signer for young renters without solid credit.
On-Call Property Manager
Our full management services include tenant placement advertising and screening, as well as a full time Property Manager on call 24/7.
The Property Manager protects you from damages with quarterly inspections and is a seasoned professional who understands the legal aspects and duties of managing an investment property.
The on-call Property Manager is especially attentive during the hot months, when air conditioners break down, insects crawl into drainpipes, etc. Which brings us to our next topic…
Tenant Maintenance Requests
The Property Manager is on call 24/7 for emergency maintenance. Regular maintenance requests are received via work orders, which are addressed in a timely manner. Tenants are responsible for any repairs caused due to negligence.
Leasing and Legal Compliance
Our leases are designed to protect your investment and clearly communicate expectations for upkeep, conduct, and consequences of breaches to your tenants. The lease stipulates what happens if the tenant is late on rent payments, how funds will be recovered should the tenant damage the property, and much more.
We also keep up with trends in the short-term rental market to ensure your property is not being misuses. Our leases prohibit the practice of subletting without notification, a practice known as rental arbitrage, So you can rest assured your rental property won’t turn into an Airbnb with a revolving door of unscreened guests.
We make sure the properties we manage are in compliance with all application local, state and federal laws. Here in Gainesville, tenants have certain rights provided by the City Code, namely, the right to rental housing without discrimination, and the right to rental housing that meets minimum living standards. This document provides a summary of those rights.
For more information, see our Resources for Property Managers page.
Get In Touch with K&R Property Management
If you’re thinking about hiring a property management company in Gainesville, FL, we’d be happy to answer any of your questions! Give us a call at (352) 213-6410 today for a free quote, or drop us a line with a note about your property management needs.