Owners new to Florida real estate investing are sometimes daunted by the responsibility for the upkeep of newly acquired investment properties. Lakeland property management companies are aware that the current real estate market has brought an influx of new investment owners. Many buyers are rushing in to take advantage of lower market prices, acquiring single-family homes for the purpose of leasing them until market conditions improve and the home can be sold for a profit, or intending to keep them as a long-term investment.
All properties require regular maintenance and occasional repairs, and owners must decide whether it is more cost effective to purchase a home warranty program on each of their properties or secure the services of a Florida property management team to handle maintenance issues.
Home warranty programs can be a cost-saving mechanism for investors in older Lakeland rental homes, and the more Florida rental properties an investor owns, the more beneficial these programs might be. These programs cover the cost of some, but not all, home repairs, particularly those on appliances, furnaces, air conditioners, and water heaters, as well as certain plumbing and electrical costs.
Florida property management companies, on the other hand, perform routine maintenance on multiple properties as part of their business, and often do so at lower cost due to volume. Their maintenance services cover everything: the physical structure, the appliances and systems inside, and the landscaping. Compare costs and services of home warranty programs versus professional property maintenance to determine which is best for you.
