Say thank you with local florist

Feature post from Joan Sinatra

You can stand out as an investor that cares by sending congratulatory and good luck plants or florals to your new tenants. Let them know how much they are appreciated and they in turn will feel more welcome. You'll be pleasantly surprised how inexpensive sending move-in gifts can be, and the return….priceless.

 

As an investor helping your property manager show the full potential for a property is key. Having a floral and interior-scaping professional you can count on is as important as presenting a clean and well staged space. In a furnished space, whether a home setting or office situation, a few strategically placed fresh floral’s or plants can liven up a room. By bringing life into the room, it allows a client to see themselves living or working there too. Flowers and plants are a large part of the staging process and make your property look more appealing than your competitors.

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 Your property can have that wow factor when being shown, with a simple phone call to Sinatra’s Flowers & Design Center. We will keep a photo log of the floral style you prefer on file so that your signature look is represented time after time. At Sinatra’s Flowers, we offer on site set up for your real estate showings, as well as cash and carry pickups for those last minute appointments. Call us at 455-1551 or visit our website http://www.sinatrasflowers.com/

 

 

 

 

 

 

 

 

 

 

SECURITY DEPOSIT TIME LIMIT

 

Your old tenant is moving out and you have a new one coming in.  Let’s say the old tenant left in a hurry, so you and staff have to now move out the trash and leftover belongings, steam the carpet, repaint the walls, do minor repair work.  There’s a huge chunk of change from the security deposit that you want to use to cover expenses.  You think to yourself you have 30 days to notify the previous tenant of your plans to use the funds to cover rehabilitation expenses.  That’s well within your rights.

What if you only use part of the deposit for repairs and/or rehabilitation?  Still think you have the full 30 days to deliver the remaining balance of the previous tenant’s deposit?  Not so, says Florida Law.  You have fifteen days to return the rest of the deposit to the previous tenant if you are not making any claim. That means, if you don’t have to do any cleaning, repairs or rehabilitation that requires you to take some/part/all of the previous tenant’s deposit, you have fifteen days to return/refund the full amount. If not, then you are opening yourself and the corporation to a lawsuit (and potential add-on fees that would double or triple what you would have to pay). So, be sure to ask your company’s attorney or the attorney you have on hand to handle your real estate/tenant legal issues.   The last thing you would need is to have to pay thousands of dollars, in addition to returning the previous tenant’s deposit, when you first were notified of the tenant’s intent to vacate the premises.

 

Short Sales Expanding Rental Market

Properties selling short are attracting investors who have time to wait for the slow short sale process to complete. The folks coming out of a short sale need a place to live creating a drastic change in the demand for rentals.

The attraction for investors to buy short sales and foreclosures is the demand for rentals will remain strong for at least the next five years – if not longer.

What Will Happen After the Election

It will be interesting to see what will happen in 2013, after the election, after the next president of the USA makes the inauguration speech. Will the millions of foreclosures behind the scenes make their way back to the market?

The countless number of short sales are impacting real estate on the Space Coast in a number of ways.

For the folks facing foreclosure, there’s good news. Borrowers can stop the foreclosure process by selling their property in a short sale. The National Mortgage Settlement prohibits lenders from doing dual track foreclosures.

A borrower can bounce back from a short sale in a couple of years, verses the severe damage of a foreclosure, which remains on a credit report permanently.

At Showcase Property Management we have become much more accommodating with helping people obtain a rental property after a short sale, after all, it is the cause of the growing rental demand. We analyze credit history and advise owners to to review the hardship when evaluating prospective tenants.

The investors, well their banking on the fact that after the short sale, someone else selling short will need a place to live. They are assured a healthy rental market for quite a few years.

If your someone coming out of a short sale, or an investor looking to expand your portfolio, my team and I can help. Give me a call 321.394-7750

TIME ON OUR HANDS

     There comes a time when some tenants want a month-to-month lease (or a non-renewal).   It could be a college student who is in their last year and doesn’t want to get stuck owing months of rent that’s left on a lease.  It could be a family buying their first house and requires a few months to get everything together.  Or, they’re looking for what they feel is a better bargain in another complex, house or condominium.  Regardless, how do you, as the landlord, handle the end-of-term notices?

     First, what is a month-to-month?  A month to month tenancy is created when the landlord allows the resident to stay after the expiration of the lease agreement, or in the event that there was never even a lease in the fist place and the resident pays monthly. The resident presumably continues to pay the rent money until such time as either the landlord or the resident decides to terminate the tenancy.

     What about the rent and notice?  If there is a short-notice (usually less than 15 days) the renter typically owed for the entire month.  The landlord’s non-renewal notice to the tenant must be accurate concerning this date. It is usually a good idea to “cross-notice” the resident with your own notice of non-renewal.  Please see your real estate attorney for a proper notice or cross-notice.

     Be careful with partial-acceptance of rent for the last month.  Often a resident will not give you proper notice OR will give you a partial rent payment covering the time period in which they will stay. If you accept that partial payment, you may be accepting the “terms” of the resident’s notice, be it proper or improper. If you take a partial rent payment when the resident has given you insufficient notice, you may not be able to charge the resident for the remaining days in the month in which he leaves, even if he has otherwise given you proper notice.