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Selling your Ft. Lauderdale fixer-upper Home
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The remodeling phase of your Ft. Lauderdale fixer-upper house is complete, and it is finally ready for occupants. Now comes the decision on whether you should sell the home or rent it out. Both options have advantages and disadvantages. Here are a few things to consider as you make this important decision.
Sell for a Profit
South Broward is typically a hot real estate market popular with retirees, families, and single professionals. Selling your home at a profit gives you the needed cash to fund your next flip. To get the most return on your investment, hire an experienced, bi-lingual local real estate agent. Antonio Ortega knows how to manage every stage of your home sale.
Research by realtors reveals that staging your home helps buyers visualize living in it, possibly leading to a faster sale. If you have furniture and décor to move into the house, research South Broward movers by reading their online reviews. Look for well-referenced companies running deals or credits if money is tight. Once you've narrowed your choices, meet with the top three contenders to discuss your needs and get a quote.
The True Value of Your Home in South FL
Consider the Landlord's Life
Collecting monthly rent on your finished property is a definite plus. The remodeled home should continue to appreciate as well. However, being a landlord takes money and time, so make sure you have both available before going the rental route.
As a landlord, you are responsible for finding suitable tenants and dealing with their issues if they become unruly. It's your job to handle the lease, collect the monthly rent and manage all the financial records. You are on call 24/7 for any issues on the home.
Ideally, you should have two months' equivalent of rental payments stashed away if needed. That's because you are the one who pays for home insurance, property taxes, homeowner's association fees, as well as all of the major repairs and some of the minor ones. In addition, you receive no rental income if your tenant expectantly moves out. If you don't have cash on hand for these expenses, you could put your finances in a bind.
As a landlord, it's your job to market your rental to potential South Broward county renters. An eye-catching banner advertising your listing on your social media pages or website is a great way to get the word out. Try this online banner creator to create customized ads that perfectly fit your Twitter feed, website, Facebook, or Instagram page. Various designs are available, so you're sure to find one that fits your brand. Then, personalize it with your text displayed in an attractive color and font. Finally, add a short video or animation to attract even more attention.
Hire a Property Management Company
Hiring a property management company is an excellent solution If you have the funds to maintain your remodeled home as a rental but don't have the time to be a landlord. An experienced Ft. Lauderdale property manager knows where to market your home and how to find a good tenant. This professional handles rent collection, maintenance, repairs, and all the financial documentation on your behalf for a fee.
Whether to sell or rent your newly remodeled fixer-upper depends on whether you have the extra funds to manage the rental. If not, your best choice is to sell it and reap the profits.
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Antonio Ortega LLC Fort Lauderdale
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