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Over the past three years as the number of owner-occupied dwellings
around Florida increased 5-10 percent, the dwellings with tenants,
or needing them, rose 32 percent. In Florida, that included an increase
of nearly 300, 000 properties whose owners live elsewhere. Here
come the Florida real estate management companies.
Rents have sagged even as sales prices have held relatively
steady. There's a lot of competition for tenants now. This has
made Florida property management the hot growth niche in an otherwise
shrinking Florida real estate industry.
Florida real estate property management is one of the items
keeping their real estate companies busy and prosperous. There
are two types of clients in this real estate market, people who
bought houses they can no longer afford, or investors who bought
houses to sell, but can't find buyers.
Managing properties isn't for the weak-hearted. The clientele
is somber, to put it mildly. Real estate owners are trying to rent
just to stop the bleeding. Florida real estate owners will rent
at a loss of $600 to $700 a month and try to figure out what to
do.
Despite serving distressed owners, real estate property managers
have to be careful and informed. Tenants have myriad legal rights.
Prospective tenants are protected from discrimination. Property
managers must avoid sloppy contractors and must understand building
codes.
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