Rental income is great. It creates cash flow that helps cover expenses, makes for a good investment, and helps to capture higher prices when you sell. And like most things in life – there are different levels of success for capturing rental income and which level you are at has to do with many different factors. Some that you can’t control and some that you can and should control.
When it comes to rental income I would tell you this:
How your property looks online matters a lot. Most people begin their search online so the nicer and more comfortable your condo or house looks on the internet the more it will rent. And the higher price you will get.
How aggressive are you and/or your manager? There is a ton of competition for renters and these renters have access to more information about places at the beach then they have ever had so you have to be very aggressive about getting noticed in the crowd.
Location, Location, Location. This is obvious – the closer to the beach the better the rental income is. How high or how low you are in a building also affects your rental income. I have heard many times that statistically the 6th floor is the best for rental and sales. High floors freak some people out and low floors are perceived as not as good.
Contact a good realtor because they will be able to direct you to the best photographers and stagers. They will know property managers that will get you the best returns. And a good realtor will be able to offer advice on the best properties to buy based on your desired rental income – before you buy.
About The Author
My name is John Moran – I am the Team Leader for Keller Williams Realty’s At The Beach Team. My team and I are committed to doing the very best we can to get you the greatest return for your real estate investment and will strive to help you maximize your position whether you are a buyer or a seller.
I hope this information is helpful for you and if there is anything I or any of our team members can do to help you in the future please do not hesitate to call or text me at850-217-7618, or email me at JohnMoran@AtTheBeachTeam.com
Note: Keller Williams Realty’s At The Beach Team sells more condos from Panama City to Pensacola than any other Realtor or team of Realtors – by double! The At The Beach Team also ranks in the Top Ten for combined sales (Houses and Condos).
More Real Estate Tips Like These
If you would like to see other tips about buying or selling real estate simply send me an email atJohnMoran@AtTheBeachTeam.com and I will be happy to email them to you. If you would like to receive future tips – we typically send them out once a month – again simply send me an email and I will make sure you get them.
– John Moran