Considering buying rental property in Central Florida? Or maybe you’re planning to rent out a house you already own?
Many gurus of generating passive income talk about the value of owning real estate investments. But does that mean you have to deal with tenants and their issues as a landlord, too? Thinking about having to serve as a “hands-on” landlord can turn off many would-be Orlando real estate investors.
Should I Rent Out My Home If I’m Not a Landlord?
If you have a family or a full-time job, adding “landlord” to your plate might feel like just too much. But did you know you can invest in Orlando real estate without having to become a landlord?
Below we’ve listed the different variations of landlords, so you can decide which one works best for you!
For some with only a few rentals and a lot of extra time, landlording may work out just fine. Especially if you once lived in the house you’re renting and know how it was maintained as your former residence.
You may have the skills (or friends with skills) to complete any repairs or maintenance issues, as well. So, you already feel comfortable doing all the activities that come with renting your Orlando property yourself—even answering those midnight emergency calls.
Most investment property owners start out as full-time landlords. Some never see a need to change this setup, especially if they only have a few properties to manage.
Maybe you like the idea of owning rental properties in Orlando and doing all the things a good landlord would do. But just like the puppy you said you’d take care as a kid, you kind of know you’d slack and leave the responsibilities to someone else. Nobody will blame you for being honest as an adult.
Real talk: if you outsource repairs and maintenance for your own home, you’ll probably do the same for a rental, right? However, as a property owner, you have a legal obligation to your tenants. Using a property management company takes all the daily stress off the owner. This means you don’t even have to meet your tenants or set foot on the property if you don’t want to.
Can I Rent My Property and Be Hands Off?
The answer is yes! You can invest in Orlando real estate without having to become a landlord. You just need the best property management company in Florida.
At The Realty Medics, we believe in giving owners rental peace of mind. That means our experts will be as hands-on, or hands-off, as our clients want.