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Orlando Property Management Blog

Property Manager and Realtor Dennis Burgess

By Dennis Burgess | Property Manager in 32703
  • Rent isn't a four-letter word

    Posted Under: Rent vs Buy in Orlando, For Rent in Orlando, Rentals in Orlando  |  October 21, 2013 5:12 PM  |  340 views  |  No comments

    Rent isn't a four-letter word



    Rent isn't a four-letter word


    OK, technically it is- though it shouldn't be included among the other four-letter words many have come to despise.

    Both renting and renters have surely taken their hits over the years.  Who hasn't heard of the ol' "Rent versus buy" analysis?  And how often do you hear that question answered with "rent"?

    Chances are it's been a rare occurrence.  More often than not, owners are advised to sell rather than rent their homes out- while prospective buyer/renters are shown the many benefits of homeownership to the detriment of both Mr. Landlord-neighbor trying to rent out his place and Mr. Property Manager trying to earn a living by helping him do so.

    Things seem to be taking a turn for the better as our economy sputters along, though- as evidenced by this recent article coming via Florida Realtors-

     

    http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=3&id=298401

     

    Good to see that tenant-occupied properties are on the rise in a number of our larger metro areas- and though some will disagree, it's good to see folks are considering this a good thing for the most part.

    Are there bad tenants?  Of course.  Bad landlords?  Absolutely.  But there are also some dang good ones out there- those fresh from their parents' homes and not ready to purchase, the elderly who can no longer maintain their own homes and former homeowners who are merely passing through Renter-land on their way back to ownership when their financial situations improve just to name a few.

    Common thread here is another four-letter word- the need rental properties satisfy.


    Rent isn't a four-letter word

     
     
    ORLANDO PROPERTY MANAGER DENNIS BURGESS
    Leasing Consultant/Business Developer
    Licensed Florida and Alabama Realtor
     
    Legends Realty
    290 Waymont Court
    Suite 100
    Lake Mary, FL  32746
     
    407-333-1010 x137 office
    407-278-1240 direct
    407-278-1240 fax
     
    dennisburgess@legendsre.com


    www.centralflrentals.com
     

     
    Turning vacant into occupied, and "houses" into "homes"SM



    Rent isn't a four-letter word

  • Apopka condo for rent: 814 Ashworth Overlook Drive, 2BR/2BA...1,420 s/f...$1,095/mo

    Posted Under: Rent vs Buy in Apopka, For Rent in Apopka, Rentals in Apopka  |  August 22, 2013 1:23 PM  |  577 views  |  No comments
    Apopka condo for rent: 814 Ashworth Overlook Drive, 2BR/2BA...1,420 s/f...$1,095/mo








    Apopka condo for rent: 814 Ashworth Overlook Drive, 2BR/2BA...1,420 s/f...$1,095/mo


    Available:  NOW


    Hi, I'm Orlando Property Manager Dennis Burgess.   I'm in the area and available often, so give me a call for more information- or to arrange a viewing of this great Apopka condo for rent.

    This unit in the gated Overlook at Parkside community has over 1,400 s/f of living space!  It's fully-equipped kitchen has stainless appliances, and an inside utility room has a washer and dryer for your convenience.

    Home offers a mix of carpet and tiled flooring throughout- with carpet in the living areas and tile in the kitchen and baths.


    Call Orlando Property Manager Dennis Burgess directly at 407-278-1240 or 205-445-4755 and set a time for your private viewing of this great unit!

    Email Orlando Property Manager Dennis Burgess:  dennisburgess@legendsre.com


    Outside, you'll enjoy relaxing on your balcony!

    Community amenities include a pool- and both lawn care and exterior pest control are provided by the HOA.

    Location is convenient to area shopping, dining and attractions via I-4, the 414/429/451 toll roads and other area roadways.


    Apopka condo for rent: 814 Ashworth Overlook Drive, 2BR/2BA...1,420 s/f...$1,095/mo


    Dennis B. Burgess
    Leasing Consultant and Business Developer
    Licensed Florida and Alabama Realtor

    Legends Realty
    290 Waymont Court, Suite 100
    Lake Mary, FL 32746

    dennisburgess@legendsre.com

    www.centralflrentals.com

    Direct/Cell/Fax- 407-278-1240
    Office - 407-333-1010 x137

    Turning vacant into occupied, and "houses" into "homes"SM


    Apopka condo for rent: 814 Ashworth Overlook Drive, 2BR/2BA...1,420 s/f...$1,095/mo
  • The Property Manager and the Rent vs. Buy Analysis

    Posted Under: Rent vs Buy in Orlando, For Rent in Orlando, Rentals in Orlando  |  December 8, 2012 1:45 PM  |  467 views  |  2 comments
    The Property Manager and the Rent vs. Buy Analysis

    The Property Manager and the Rent vs. Buy Analysis


    "Rent vs. Buy"... This is a topic I've heard more and more about lately. While it's no secret interest rates have been low- and no secret that that translates into historically low mortgage payments and value, I can't remember seeing any charts on the subject until recently.

    Following a cue from fellow ActiveRainer Jeremy Wrenn, I joined a BNI group a few months ago. I'm assuming my group is much like any other in that we have folks from a number of industries. We're blessed to have a great "sales-type" Realtor that's now our chapter's president-elect, and we also have a great representative from a mortgage company that can help anyone looking to make a purchase in the near future.

    So what's the problem? Well, my problems are three-fold, really. I'm not looking to purchase in the near future- and being in the property management business has me hoping that my customers aren't looking to purchase in the near future, either.

    And the third issue? An ethical one in choosing how to respond when a tenant prospect asks "Is it cheaper to buy or to rent right now?" How do you answer a question that could very well send business elsewhere?

    The Property Manager and the Rent vs. Buy Analysis

    Every week, the Realtor and mortagage guy in my BNI group mention how they're offering folks free Rent vs. Buy analyses. They seek business from folks any of us might know that are currently renting and looking to buy- or folks getting ready for a move that may be considering whether buying or renting is their best option.

    Wait! Those are my customers! How do I keep my customers and help folks in my networking group?

    For now (and I suspect forever), I will continue to furnish both customers and clients alike with the most complete and accurate information I possibly can. I don't really see another option- as I have an obligation to serve the public even when it doesn't serve my own financial interests.

    So what say you? If you're a property manager, do you provide folks with information on whether it's best for them to rent or buy? Do you act as if the market's unchanged? Or do you look to accentuate the fact that rent vs. buy analyses don't always include costs such as association dues and/or the risks involved when associations become insolvent, etc.?

    I choose to provide accurate information, and to have confidence that doing things the right way will more than make up for any business I might lose should folks look to buy vs. rent. And I hope all property managers feel the same way.

    The Property Manager and the Rent vs. Buy Analysis



    The Property Manager and the Rent vs. Buy Analysis

  • When your tenant tapes your toilet back together and bails...

    Posted Under: Rental Basics in Orlando, Rent vs Buy in Orlando, Rentals in Orlando  |  January 3, 2012 7:27 PM  |  1,212 views  |  No comments

    http://actvra.in/qFg

    When your tenant tapes your toilet back together and bails...

    ...it's time to hire a professional property manager- like yours truly.

    Every now and then, someone will ask me "What would I need you for? I sign my tenants up, they pay rent, they leave. All of that 'property management' hocus pocus is for the birds!"

    There are surely some good tenants out there, and good homeowner/investors that are more than capable of managing their own properties. No doubt about it- when things go well, the ol' Mr. Landlord and Mr. Tenant thing is pretty dang sweet.

    But things don't always go well.

    It's January 3rd and your tenant hasn't paid his rent...What do you do?

    Your tenant moved in with a puny little rat-looking dog- yet a neighbor calls to complain that your tenant's Rottweiler just bit their kid...What do you do?

    You drive by your home for a little look-see one day- and find that your tenant's invited the neighborhood over to bounce on his kid's trampoline...What do you do?

    When your tenant tapes your toilet back together and bails...

    As with anything else, property management is relatively easy when all goes well. When everything "functions as intended" (to borrow a term from back in my software engineering days), life is great.

    But when things aren't great, it's a real blessing to have a professional property manager in charge of your property. It's easier to rest your head when you know that the professional property manager you've hired can (and will) take care of any issues that arise.

    The answers, by the way... Here in Florida, we post statutory notices to inform tenants that their rent is late, and that they have 3 days to pay the rent and appropriate late fees- or we may commence eviction proceedings.

    Aggressive breed dogs such as Rottweilers and "attractive nuisances" such as trampolines are typically covered in a lease agreement- and most leases provide you with the opportunity to post the tenants with a "7-day notice with opportunity to cure" and wait out the time period. If the pet or trampoline hasn't been removed (and problem "cured"), you may commence eviction proceedings for breach of the lease.

    The toilet? This is an item that your professional property manager would have included as part of the move-in video they made just prior to the tenant's move-in. Unless the toilet was taped together at move-in, your tenant would forfeit monies from their security deposit to pay for a new toilet.

    ...chances this toilet was taped together at move-in: zero.

    If you have any questions about either the professional property management business as a whole or how I may be able to provide you with outstanding management services, please feel free to give me a call or drop me a quick email. I look forward to- and welcome- the opportunity to be of service.

    When your tenant tapes your toilet back together and bails...

    DENNIS B. BURGESS
    Property Manager and Leasing Agent
    Licensed Florida and Alabama Realtor

    Hampton & Hampton Management & Leasing, Inc.
    7524 Municipal Dr.
    Orlando, FL. 32819

    Turning vacant into occupied, and "houses" into "homes"SM

    205-445-4755 cell
    407-253-9324 office
    407-253-9326 fax
    ActiveRain Real Estate Social Network

    We Are Alabama
  • Shifting sands: Orlando area's increasing rent prices

    Posted Under: Rent vs Buy in Orlando, For Rent in Orlando, Rentals in Orlando  |  December 30, 2011 7:40 PM  |  1,265 views  |  3 comments

    Shifting sands:  Orlando area's increasing rent prices 

     

    The Tide's rolling....err...The Tide's turning...err....No, for once, I'm not talking about my 13-time National Champion Alabama Crimson Tide (hopefully 14-time soon, by the way).  Here, rather, I'd like to talk a bit about our Orlando area's increasing rent prices and the tide that rolled in and and brought them.

     

    Our industry didn't see rent prices drop through the floor overnight- so we shouldn't expect a recovery and prices through the roof any more quickly.  There's a strange period of adjustment going on right now, and the adjustment will require a good bit of a balancing act as the sands shift.


    "'Balancing act', you say?"  Indeed.


    There have always been tenant prospects, and there always will be.  If you cast your net (or Internet, as it is these days) wide enough, they'll come.

     

    The shift that'll be dealt with as things unfold is a bit like this...


    Tons of properties, tons of prospects..... some have been great, some "not so great".  The great ones have had the luxury of viewing 20 places and choosing the one they felt was good enough for them to grace with their Holiness for a year's time- while (oddly enough) the "not so great" prospects felt similarly entitled.

     

    Shrinking properties list, growing prospects list... great prospects are their in lesser numbers, overall prospect pool is growing.  This lead to a bit of pressure on the great prospects- as they could be as great as they could be and have no place to live 'cause the places they waffled on renting got gobbled up by folks just a tad bit worse.

     

    Now comes the swing... Inventory has dropped like a brick- a crazy drop.  Great places are going quickly- as with one in Errol Estates yesterday.  I placed a Trulia ad for it, got a call within an hour and set a time to show it last night and knocked it out.  I had the application online late last night and certified deposit funds in hand this morning.

     

    This is the time when great prospects can (and will) snooze and lose.  There'll be less showings scheduled- because we won't need as many.  On a bit of the down side, though, we're going to be dealing with an increasing number of folks that have lost their homes and have hit the rental market for the first time in their lives.  Great to have the tons of prospects, yet a challenge exists in ensuring all folks are dealt with fairly and that they feel they've been dealt with fairly.

     

    For example, rejections will be a bit harder in some cases as more and more folks hit this market with an unrealistic view of their credit worthiness.  There'll also be a period of crazy times to come when we hit the point where the low inventory allows us to be more selective, yet the prospect pool in general might have poorer credit because of a renewed avalanche of folks displaced by foreclosures.  How long to wait on the great prospect around the bend will be an interesting scenario.

     

    Shifting sands:  Orlando area's increasing rent prices


    It's a great time to be an investor, though- a great time to invest.  Properties in great shape and priced properly will rent quicker than in previous months/years.  Rents are increasing, and projections show that continuing- Econ 101.  Supply down, demand up means prices up.


    I've never hit the beaches of Waikiki with a board lookin' to hang ten, but this Orlando area and our rental market may soon present waves that'd make Kelly Slater jealous.

     

    Shifting sands:  Orlando area's increasing rent prices


    DENNIS B. BURGESS
    Property Manager and Leasing Agent
    Licensed Florida and Alabama Realtor

    Hampton & Hampton Management & Leasing, Inc.
    7524 Municipal Dr.
    Orlando, FL. 32819
     
    Turning vacant into occupied, and "houses" into "homes"SM
     
    www.leasingorlando.com

    205-445-4755 cell
    407-253-9324 office
    407-253-9326 fax

    ActiveRain Real Estate Social Network
     
    We Are Alabama
     
 
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