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Overview of Squatter Rights in Florida

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After purchasing an investment property in Florida, you must complete routine inspections. This is not only to ensure that it does not require maintenance but also to make sure that there are no squatters living in your property.

Finding out that your property has become the home of a squatter is not something an owner wants. It is a violation of both your rights and your privacy. Over time, squatters will develop rights to the land that they are living in. This will make it more difficult to remove them.

You must take action immediately to remove squatters and to protect your property.

In Florida, squatters do not have property ownership rights right away. They can assume these ownership rights if they file for an adverse possession claim. (more…)

Why Live in Tampa?

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Are you considering living in Tampa, Florida?

It is one of the most popular areas in the Sunshine State. The city experienced difficult times during the Great Recession, but the 2010s brought a strong comeback for Tampa.

The competitive city has revamped its urban core and waterfront. Lack of income tax together with the sunny weather makes Tampa a highly desirable city to live in.

In this article, you will learn about the top 10 reasons why living in Tampa, Florida is a great idea.

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Buying an Investment Property Before Your First Home

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This is the usual train of thought most people have before buying their first property:

“One of my goals is to one day own where I live. That way, I won’t have to keep paying the monthly cost of the rent. Instead, I can be making my own mortgage payments. However, relocation for work then does become an administrative nightmare, so maybe buying my own home isn’t the most practical.”

Sound familiar?

There are great reasons to buy an investment property to rent out. Compared to buying your own home first, investment property has the benefit of creating an income stream.

Below are other good reasons why buying an investment property in Tampa, Florida before your first home is more reasonable in the long run.

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Should I Rent My Florida House Furnished?

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As a landlord, you may be asking yourself – Would I most benefit from renting my property furnished or unfurnished?

Although there are expenses associated with renting out a furnished property, there are also benefits.

We’ve gathered a list of tips to consider when deciding whether you should lease your unit furnished or unfurnished. By the end of this post, you’ll know exactly how to weigh your options to determine what best fits your Tampa rental property. 

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What Exactly is “Normal Wear and Tear”?

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“Normal wear and tear” can create a lot of confusion. Tenants and landlords often have disagreements when deciding what to consider as wear and tear. That’s why it’s important to include the term in your Tampa lease agreement.

In this article, we’ll cover the basics of recognizing normal wear and tear. Do note that you should look into Florida laws for extra assurance. (more…)

Hiring a Property Manager vs. Self-Managing: What’s Better?

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Congratulations on owning a rental property in Tampa, Florida. Your hard work, persistence, and patience have paid off. You have now set the groundwork for earning passive income for many years to come.

That said, buying the rental property was only half the equation. The remaining half is arguably the hardest part because it revolves around property management. The way you manage your property can make or break your rental business.

That’s why many Tampa landlords usually ask themselves – should I or should I not hire a property manager. (more…)

8 Key Clauses to Include in Your Tampa Lease Agreement

Clauses in Tampa lease agreement

A detailed lease agreement is important for both landlords and renters in Tampa. When it contains the right terms, it can help minimize headaches down the road. The more thorough it is, the better.

Remember, you cannot penalize your tenant for something that they don’t know about. For example, without outlawing subleasing, your tenant may do it when you aren’t looking.

In today’s article, we are going to take a look at some of the key items every landlord in Tampa should include in their lease or rental agreement.

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5 Mistakes Real Estate Investors Make When Budgeting Their Property

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The greatest advantage of investing in real estate is the ability to predict what your ROI will be.

That said, your return on your Tampa, Florida investment is only as good as the numbers you begin with. So, avoiding mistakes early on in your investment journey is key to your rental business’ success.

In today’s post, you’re going to learn 5 of the most common mistakes beginner rental property investors make when budgeting their property – and how you can avoid them.

So, read on to find out how to start a successful rental property business! (more…)

Common Mistakes Beginner Real Estate Investors Make

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Do you dream of becoming a rental property owner?

Maybe owning a few income properties from which to make a passive income?

Understandably, owning a rental property can be financially rewarding. In fact, real estate has produced many of the world’s wealthiest people. (more…)