You’ve taken the plunge and bought a hot South Florida investment property. But buying is only the first step. Now it’s time to turn your investment into a moneymaker.
When temperatures in other markets cool down, many flock to Florida’s warmer climate. Locals call these temporary residents “snowbirds,” and now’s the time to get your property ready to rent as this is one of the busiest rental seasons of the year.
Check out our suggestions to get your property ready for the incoming migration:
Now’s Not the Time for Major Renovations
Though it’s tempting to gut your new property and remake it completely, timing is critical to get top dollar for your seasonal rental. Unless the renovations are necessary for safety reasons, save the makeover for a slower market so you don’t miss out on renters who are looking right now.
Even though we don’t recommend doing any major work, now is the time to check your major systems to make sure they’re in working order.
Clean the House Inside and Out
If your property has been rented for many years, hire a cleaning crew to get it ready for the upcoming season. If you’re renting by the week and provide linens and kitchenware, be sure everything is fresh, folded and put away before your next guests arrive.
Don’t Forget About Curb Appeal
Trim trees and freshen up the landscaping. Be on the lookout for hazardous conditions like rotten branches, overgrowth, and missing or broken swimming pool enclosures. If swarms of mosquitoes are a problem on your property, call the county – they usually take care of them at no cost. Florida law requires enclosures around all swimming pools, so be sure to keep yours in working condition to keep out unwanted guests.
Advertise Your Property
Since snowbirds aren’t local, you may want to list your property online. With such a competitive market, you should hire a property manager that specializes in Florida rentals to keep your property booked all season.