November 1, 2019
Today we had a very successful day.
We secured 3 new tenants for an owner with a set of 4 apartments. Now, that is a great day to start the weekend with!
Special thanks to our owner for allowing us to be part of their management team and for being a great owner to work with.
HAPPY FRIDAY!
HELLO (F)ALL!
Barrons Property Managers just wants to send a little season greeting to everyone! Our rental properties are doing better than ever thanks to you.
We’re getting into the slower time of every, but that doesn’t mean Barrons Property Managers stops working hard for our owners. Our available properties are all shown on our website and other websites, like Facebook, Zillow, and Aprtments.com.
Owners with vacant properties can expect to receive a weekly update on the stats of viewings and communication regarding their property.
Make sure that if you have any friend or family member needing a property manager, or a home to rent themselves, send them our way!
Any ways, just wanted to say thank you owners and thank you tenants for helping Barrons Property Managers succeed this year.
Happy Holidays!
Spring and summer are the most popular times of the year for properties to be rented. Managing your own rental property is a great way to lose your mind, to say the least. With Pensacola area schools being out for summer, and Navy or Air Force orders coming and going, an experienced property manager makes your life easier.
Barrons Property Managers is an exclusive property management company. Our goal is to provide you with the best service. Barrons Property Managers keeps your tenants happy, completes maintenance items and collects rent, which all take the stress away from you and your daily life.
The number of people who are choosing to rent instead of buying a home is steadily rising. Many renters are looking to move into a property quickly. Having the properties rent ready before allowing viewings is essential to make this possible. We have a team of dedicated property managers and vendors that are ready to make both your life, and the tenant’s life better.
Our staff participate in several training programs that cover fair housing, safety, on-line payments, cloud based electronic signatures, and more. We are an active member of NARPM, National Association of Residential Property Managers. NARPM is an organization of professionalism, licensed property managers who promote professionalism, education, ethics, and the best industry practices. We are constantly working to improve the system for our renters and our owners.
To find out how much your rental is worth, click here and get your free market analysis, or contact our office at 850-934-2588.
The old days of making an appointment and showing up late due to traffic are over. The self- viewings lock box system Barrons Property Managers uses is secure, fast, and assists in renting your home.
While many owners believe this is a way for property managers to do less work, it is a highly effective way to exhibit the property, all the while allowing for more prospective tenants to view the property. Barrons Property Managers has successfully rented properties in the Pensacola, Gulf Breeze, Navarre, Milton, and Pace areas through this self-viewing system. The tenants loved the option to view the property whenever they can, within specified lock box hours.
The self-viewing process is as secure as showing it yourself. Barrons Property Managers will get contact information along with identification information. The prospective tenant will then receive a text message with a one- time use lock box code to access the property. After viewing the property, they will be contacted regarding any questions or concerns they may have, and how to apply.
For more information on how the self-viewings process Barrons Property Managers uses to showcase your properties works, feel welcome to contact us at 850-934-2588 or email us at notify@BarronsPM.com
Barrons Property Managers is an exclusive property management company, located in Gulf Breeze, Florida. We do not list homes, sell homes, manage associations, nor do vacation rentals. We specialize in single-family homes and long-term rentals. We give your investment the time and attention to grow in value, while being an income producer!
Barrons Property Managers focuses on managing your property at the highest level every day. Our company is active in the Pensacola NARPM chapter (National Association of Residential Property Managers), which promotes professionalism, education, ethics, and the industry’s best practices.
Property management is not the same as in the past. Everything is faster in today’s property management and rental community. We focus on getting homes rent ready and occupied quicker. With technology, our business is accessible 24/7 online. We have incorporated a smartphone activated management system for lock boxes, and property inspection data can be documented via mobile devices which replaces the traditional paper and pen inspection report. We have the ability to share a comprehensive inspection report including pictures to an owner. Our software program enables tenants to pay rent online, submit maintenance items online and other tenant related matters. For our owners, Barrons can direct deposit disbursements each month, along with providing a secure owner portal for statements and documents.
Give us a call at 850-934-2588, and let Barrons assist you in taking care of your investment!
Demand for rental homes is expected to grow by nearly 6.6 million units through 2017, with about 4.2 million new renters attributing to the total. Rent rates are forecasted to increase 3-5% over the next 3 years. Renting has become a more attractive option and will continue to be a trend due to lack of consumer confidence. Also the up and down stock market and available credit to buy puts the real estate investor in the drivers seat.
BarronsPropertyManagers.com is an EXCLUSIVE property management company. We do not list/sell homes, we don’t manage associations, we don’t do vacation rentals. We specialize in single-family real estate rentals. It’s not a part time or sideline business for us. We give your investment the time and attention to grow in value, while being an income producer!
We focus on doing our job at the highest level everyday. We participate in several training programs that cover Fair Housing, safety, on-line payments; cloud based electronic signatures, etc. Our company is also very active in the Pensacola NARPM chapter (National Association of Residential Property Managers), which promotes professionalism, education, ethics, and the industry best practices.
Property management is not the same game anymore, everything is faster. We focus on getting homes rent ready and occupied quicker. With technology our business is accessible 24/7 on-line. We have incorporated a smartphone key management system for lockboxes, property inspection data capture for mobile that replaces the traditional paper and pen. We can literally email a comprehensive inspection report with video’s and pictures to the owner before we leave the property. Our software program enables tenants to pay rent on-line, we can direct deposit dispersments to owners, and utilize electronic signatures if needed.
With more and more demand for rental homes, our exclusive property management system is growing accordingly – managing over 250 properties. Our resources like UWF, PSC, chambers, business leaders, real estate brokers help us to identify what your current and future needs are? We can bring you your biggest profit on one rental home, up to multi numbers of rental investment properties.
We are local in your community or just as close online.
Barrons Property Managers “now offering a guaranteed rent collection program.” We deliver unmatched property management services along with a competitive fee structure!
Full time licensed, leasing agents, maintenance coordinator, and site inspectors – helping your investment to reach its height of physical & fiscal performance.
Call (850)934-2588 or visit us online at www.BarronsPM.com
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The Delicate Art of Rent Increases
Everyone knows that rent increases are a fact of life, but they also need to be right!
Many owners want to raise the rent whenever. You shouldn’t increase the rent because you’ve had an expensive year, or a major roofing job. Instead, your rental rates should be dictated by one very simple factor: The Rental Market.
Simply put, your rental price will be determined by how much tenants are willing to pay. Use anything other than this criteria, you run the risk of losing them and experiencing higher vacancy rates.
Let’s look at how you can accurately assess the market and how to go about tactfully breaking the news to your tenants.
Ensure Compliance With the Law
First things first: Make sure your proposed rent increase is in compliance with state and regional laws, and of course, in accordance with the terms of your lease.
Sufficient notice, 30 days’ – is generally required for month-to-month leases. For fixed-lease properties, you’ll want to let tenants know before the lease is up.
Give Extra Notice
Sure, you’re required to give enough notice to be in compliance with the law — but why stop there? We give tenants extra time to prepare for the increase, and allow them a chance to shop around. If the increase is in line with market rates, they’ll see that there’s no better deal to be had. We time notices so that the rent increase will take place immediately after the lease renewal date.
When we inform tenants about rent increases in writing. Without a written agreement, a rent increase will be difficult to enforce.
We try for small increases yearly, instead of having to raise the rent substantially. This helps tenants get used to rent going up, and you’ll find them less likely to complain over a $20 per month increase as opposed to a sudden $200 jump.
Calculate the Rent Increase
We do our research to be competitive with local rental market rates. We do this by looking at other similar rentals or by multiplying the consumer price index by your current rental rate. For example, the ‘Bureau of Labor Statistics’ most recent release indicates that the index for shelter increased 3.2 percent in 2015. Rent is only adjusted to the local rental market.
Determine Why You’re Raising the Rent
Your tenants will want to know, and you’ll need an answer. Be truthful and make a list of reasons why the rent needs to go up, such as rising insurance costs, higher taxes, and the cost of inflation. Main reasons for a rent increase usually include the rising cost of maintenance and repairs
Keep Your Tenants Happy
Also having an excellent tenant who looks after the property and pays rent on time, is an excellent reason not to raise the rent as an incentive to stay. If it needs to be raised, one way to do this is to show them what the rent increase was going to be, then crossed out and with a smaller percentage, for being a great tenant. Communication is key: we are in touch and are willing to talk to them about the increase.
Another option would be to consider offering your tenants a compromise. Propose a rent increase, and be prepared to lower the percentage if they are willing to sign a longer lease.
Rent increases are stressful, but we ensure that the raise in rent is in line with market values. We communicate all upcoming changes to your tenants making the process as simple and straightforward as it can be.
Need a Property Manager in Pensacola-Gulf Breeze-Navarre Florida.
Barrons Property Managers “now offering a guaranteed rent collection program.” We deliver unmatched property management services along with a competitive fee structure!
Full time licensed, leasing agents, maintenance coordinator, and site inspectors – helping your investment to reach its height of physical & fiscal performance.
Call now at (850)934-2588 or visit us online at www.BarronsPropertyManagers.com
If you receive rent from anyone who lives in your
property, you’re considered a landlord and must report this as taxable income. The money you receive is considered income in the year you receive it, and you are required to file taxes.
You are allowed to deduct necessary expenses required to maintain and manage your property, but expenses can only be deducted the year in which they’re paid.
Here are a few deductible expenses:
Taxes and tax return preparation
Advertising the property
Cleaning and cleaning supplies
Repairs
Real estate taxes
Mortgageinterest
Management fees
Utilities
Travel to and from the property
All improvements to the property are considered an asset and should not be included as an expense.
Security deposits are not taxable since they are to be returned to the tenant at the end of the lease. However, if you end up taking part of the security deposit, then it is taxable and must be included on the income that you show on your tax return for the year that the tenant vacates.
Barrons Property Managers can take care of all this for you, and at the end of the year we give you a 1099 for you to give to your tax accountant