You might be thinking that being a landlord is not all that it's cracked up to be. While you have a chance to make passive income, it requires a lot of work. To become a financially stable rental property owner, you need the right tenants.
Tenant placement services and rental management can help Orlando, Florida, landlords find reputable tenants for their properties. However, one option provides more than that.
Keep reading to learn how to choose the best option for your property.
Tenant Placement vs. Rental Management
To choose the best option, you must understand the differences between tenant placement and rental management. While there is some overlap, rental management offers several more services.
Tenant Placement
Tenant placement, or leasing-only services, are specialized services a property management company offers. Tenant placement focuses on finding and securing quality tenants when you have a rental vacancy.
Tenant placement in Orlando is best for landlords who still want to be hands-on. While tenant placement services handle tenant screening, property marketing, and lease creation, you maintain control of day-to-day property operations.
To keep great tenants that tenant placement services find for your property, you need to provide adequate property management.
Rental Management
Property managers in Orlando offer landlords a hands-off approach. Rental management involves outsourcing your day-to-day operations to a professional property management company.
These companies handle everything a rental property requires, such as Orlando tenant screening, rent collection, property maintenance, etc.
Orlando real estate investors might not know a lot about managing a rental property. If this sounds like you, rental management is the ideal option.
Because you are gaining more professional services, rental property management is more expensive than tenant placement. For many investors, the cost of expert property managers is well worth it.
How to Choose the Right Option
Choosing between rental management and tenant placement services depends on how you want to run your property. Most importantly, it depends on how involved you want to be.
You can minimize your involvement completely with full-service property management services.
The size and number of properties can influence your decision as well. Tenant placement services are manageable if you have one property. This allows you to spend time focusing on property management tasks.
Rental management is more efficient if you have multiple properties. It's impossible to manage day-to-day tasks at each of your properties without help. This is especially true if you have additional investments outside of Orlando.
Orlando, Florida Tenant Placement Services
The choice between tenant placement and rental management lies in your hands. Decide how involved you want to be as a landlord to make the right choice for you.
Whether you need tenant placement services or full-service rental property management, we are here to help. At PMI Property Solutions, we have over 20 years of experience helping Orlando landlords like you.
As a locally owned office, we can offer area-specific services ranging from tenant placement to rental management. With state-of-the-art technology, we can help you find quality tenants and maximize profitability.
Contact us today to start a beneficial partnership.
