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Why Buyers Are Flocking to Miami

The Wall Street Journal published an article on Monday that describes in detail how Miami is benefiting from other states' recent tax laws. Buyers from states like New York, New Jersey, and Illinois are now headed south, most prominently to Miami, as a result of a 2018 tax law that capped deductions.

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Caitlin Bumpus
Miami Beach Property Management Services List

Here is a list of responsibilities your property management company should be capable of handling for you. Some companies will offer more services, some less, but this is a good starting place when searching for a professional company that can fulfill all of your property management needs.

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Caitlin Bumpus
When to Hire a Miami Beach Property Manager

Rental property management is something owners will sometimes choose to do themselves as they think they have the time to deal with the various day-to-day obligations that come with managing properties. If you have attempted to self-manage your properties, you probably understand how chaotic and demanding it can quickly become. It is a full-time job that requires knowledge in many different areas to make your efforts a success. Rental homes are not latent objects that can self-sustain. Tenants occupy these properties, creating unique situations that necessitate continuous care and attention.

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Caitlin Bumpus
Marketing Tactics to Attract Student Renters

Advertising your business to young renters is a challenge that will make you step up your marketing game. Gaining their attention requires different and creative ways based on their behaviors and preferences influenced by today's culture. The infinite choices available makes it difficult for them to choose what they really want. As property owners, we have to stand out to potential student renters. To be unique from the rest, these are some of the marketing ideas that will help you capture their attention.

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Caitlin Bumpus
Questions To Ask Potential Property Managers

How long have you been in business? We recommend hiring a company that has been in business for at least five years. This allows a long enough track record to call references prior to hiring.

How has your business model changed during that time? This will tell you how responsive the company is to industry changes and the evolution of technology.

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Caitlin Bumpus
How Often Should a Property Manager Inspect a Property?

Inspecting your rental property is necessary to keep the place well maintained. Regular inspection avoids the risk of damage to a property, but how often should we do inspections?

Stipulate in the lease agreement regarding scheduled inspections. Checking the exterior from to time is reasonable. You need to inform the tenants ahead of time if you need to check the inside of the property.

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Caitlin Bumpus
Ways To Drive Revenue From Apartments

Value-added operators typically zero in on upgrading the interior and exterior of the units to get back in line with improvements of similar properties in the immediate area. These renovations enable rent expansion as more desirable living current residents to move into newer units as they are updated. The focus is on modernizing kitchens, baths, flooring, and plumbing fixtures. Freshening up landscaping, exterior painting, new signage, and awnings can make a huge difference.

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Caitlin Bumpus
The Effects of Airbnb on the Real Estate Market

Airbnb is an online community marketplace that connects people looking to rent their homes with people who are looking for accommodations. Homeowners are moving their properties from long term rentals to short term rentals aimed for tourists and temporary visitors. This is both beneficial for hosts and guests. Renters can save cost rather than staying at a hotel while homeowners can earn more with daily or weekly compared to renting it long term.

With the increase in demand of short term rentals, companies like Airbnb affected the real estate market in some ways.

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Caitlin Bumpus
Why Property Investment Matters

Anyone can be a property investor. You don't need thorough knowledge to know the ins and outs of investing. There is a plethora of homes for sale on the internet. Simply schedule a showing with the owner or realtor so you can make the necessary decisions.

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Caitlin Bumpus
How To Manage Your Property With A Pool

A swimming pool can be a great addition to your rental property. Tenants can host events near the poolside area, invite friends over for some barbecue or just have a dip during sunny days. It even adds value to your rental property. As a landlord, you have to consider certain risks and liabilities involved should you decide to add a swimming pool to your property.

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Caitlin Bumpus