Why Successful Real Estate Investors Partner with Property Management Companies

June 14, 2022

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Property investment is among the top lucrative industries to devote your resources. Investing in real estate is a big undertaking but the industry also has the capacity to create a large amount of passive income. Managing rental units may seem easy on paper, but it’s hard.

Managing the diverse aspects of each property requires time and energy. As a landlord, it’s important to decide whether to delegate the duties to professional agents or handle them yourself. Each option has its benefits and shortfalls.

It all depends on your availability and your commitment. If you lack the time needed to property attend to your tenants and your property, you can hire professionals to allow you to concentrate on other parts of your investments. They can handle the routine daily obligations of your unit including marketing, rent collection and accounting.

How to Boost Your Rental Property's Curb Appeal

May 11, 2022

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Sometimes landlords can overlook the importance of an attractive curb appeal to the success of their rental home. But this should be on the list of priorities.

Your rental unit’s interior may contain luxurious furnishings and appear organized, but prospective tenants won’t see that until they come inside. The first thing that people look at is your property’s curb appeal.

Tax Season Tips for Landlords

April 14, 2022

Tax Season Tips for Landlords

Tax season is a busy time for everyone, but especially for rental property owners. It’s your duty to declare the rental income you received on your tax return form. Rental income is referred to by the IRS as payment received from renting out your real estate. This covers:

  • Regular rental paid amounts
  • Advanced rental paid amounts
  • Security deposit payments
  • Amount paid by tenants when canceling a lease
  • Amount paid by tenants for expenses
  • Received services or property in lieu of money for rent

new landlords and old landlords can find accounting for taxes to be complicated. With so many things to consider such as increasing rent rates and expiring eviction moratoriums, it’s more vital than ever to learn tax savings and capitalize on the deductions.

Here's a guide to taxes for landlords! It can help maximize your refunds so you can retain a better portion of your income.

How to Avoid Water Damage in Your Rental Property

April 14, 2022

How to Avoid Water Damage in Your Rental Property

Water damage is among the most common property concerns in Florida. Water damage comes in a variety of forms. It might be anything from an unnoticed leaking pipe that allows mold to grow to a full-fledged flood that seriously damages your rental home and the tenant’s belongings.

This post will look at various options for preventing water damage to your rental property. Thankfully, there are strategies to limit the danger of water damage to your property. Here are some pointers!

A Guide to 1031 Exchanges in Jacksonville

March 15, 2022

A Guide to 1031 Exchanges in Jacksonville

1031 Exchange gets its name from the Internal Revenue Code (IRC) Section 1031. In brief, it’s a swap of one investment property for another, allowing an investor to defer payment of capital gains taxes.

As a real estate investor, you may be able to exchange, for instance, raw land for an office building, a warehouse for a NNN retail property, or a rental house for a multi-unit apartment complex.

As an investor in Jacksonville, you should especially consider doing a 301 Exchange if:

  • You’re looking for a better asset in a more desirable market
  • You want higher tax-deductible expenses
  • Want to leverage tax benefits of greater depreciation

With that in mind, for an exchange to be successful under Section 1031 of IRC, there are certain requirements that you must meet. The following is a guide to 1031 Exchanges in Jacksonville.

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Tips to Prevent Tenant Damages to Your Rental Property

Feb. 10, 2022

Tips to Prevent Tenant Damages to Your Rental Property

Some things are inevitable in the life of a landlord. One such thing is tenant damage, which can range from scuffs on wooden floors to even smashed windows.

Luckily, as a landlord, there are several things you can do to prevent your tenant from damaging your real estate investment. Here are 8 tips to get you started!

Pricing Your Jacksonville Home to Rent

Feb. 10, 2022

Pricing Your Jacksonville Home to Rent

Pricing your Jacksonville rental accurately plays a big role in maximizing your investment income. For new landlords, they might be tempted to set the price based on guesswork, but this is illogical. If the rental rate is too high in relation to the property amenities available, then no one will be interested. If the rental charge is too low, then your returns won’t be optimal.

Reviewing how to assign the right price for your unit should be your priority. Look at the factors behind accurate rental pricing. If you succeed in setting the right rental fee, more prospective tenants will apply, ensuring steady returns for your Jacksonville property investment.

How to Film a Great Video Tour of Your Rental Property

Jan. 17, 2022

How to Film a Great Video Tour of Your Rental Property

If pictures speak a thousand words, then videos speak a million! Rental video tours have proven to be effective marketing tools for landlords. It’s even been found that video tours generate as much as 4x more leads than ads with just pictures!

This doesn’t mean you should avoid pictures
in your rental ads, but you should certainly have a video tour in it. After all, prospective tenants have their preferences for content. Some prefer looking at videos rather than viewing photos.

What’s more, with social distancing being the norm due to the pandemic, many prospective tenants prefer viewing a virtual property than an actual one.

The following are tips to help you film a great video tour of your rental property!

How to Advertise Your Jacksonville Rental Property Successfully

Jan. 13, 2022

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If your goal is to find the best tenants for your Jacksonville rental, then nothing is more important than gaining exposure. All you need to do is launch an effective advertising campaign! However, that’s easier said than done if you’re a new landlord.

This article will walk you through the process of attracting great tenants through effective advertising. Once you secure the right renters, earning the best returns for your Jacksonville investment property is sure to follow. It’s a direct result of the marketing efforts you’ve put in!

Innovative Property Solutions

8833 Perimeter Park Blvd Suite 301, Jacksonville, FL 32216

(904) 321-9020

Office hours:

Mon - Fri: 9:30am - 5:00pm

Sat - Sun: Closed