Building your real estate portfolio

Are you an investor looking to diversify your portfolio? Real estate is a great opportunity. Once you have your investment property ready to rent, how can you make it more appealing?

When marketing a property for rent, the first thing to consider is the kind of tenants you want in your property and what they’re looking for in a home. After you’ve made any interior and exterior improvements that are appropriate for the neighborhood, you are ready to list the rental.

Team TLC has an experienced team of real estate agents knowledgeable in buying investment property as well as property management. In fact, there are no upfront expenses to the owner when we manage your property. Team TLC provides complementary professional marketing of the rental (professional photography, tenant screening and marketing).

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Read on for some tips on making your rental property more appealing to your targeted potential tenants.

Consider your potential tenants

Think about the look and feel of the neighborhood and what fixtures, appliances and amenities your potential tenants may be expecting. We can help you research other recently sold or rented properties in the area for insight. Some things potential tenants are looking for: curb appeal (nice landscaping), kitchen upgrades including storage, appliances, neutral tones, and outdoor living space.

Fix damage

Many renters are turned off by properties needing repairs. Aside from necessary improvements to get the property up to code, superficial damage such as missing shingles, deteriorated paint or damaged floors, can also leave negative impressions. Replace or repair all necessary items to improve the aesthetics of the property and get tenants interested. Team TLC has an approved list of vendors who can help with these fixes.

Make improvements go a long way

If you want to get a higher price and make potential tenants more eager to view your property, consider upgrading appliances or putting in newer and more stylish fixtures. Changing out cabinet hardware, light fixtures or faucets can make a big impact on how tenants view your property. But be careful not to invest more in the property than you're likely to recoup when the time comes to sell. If you do make improvements, highlight them in any marketing materials.

Get professional help

If you don’t know much about the real estate market, you’re in luck. Whether you are a beginner or experienced investor, we can help you every step of the way. We provide education for first-time investors. Team TLC has been helping clients buy, sell and invest in Tampa Bay for more than 30 years. In fact, Team TLC has an experienced team of agents ready to help you with purchasing investment properties and property management.

We’ll help find potential tenants and get them screened, draft leases and go over with tenants, collect security deposits and more.

Our property management team will manage the property for you if you want to deal with less responsibility. They'll typically schedule maintenance and deal with smaller issues on your behalf. They can effectively advertise your property and engage a wider network of audiences.

Market on social media

If you want to attract tenants, you need to make sure your rental property is visible on social media. To make sure your rental property stands out, we’ll advertise your rental on multiple sites. We’ll provide complimentary photos of your property, write engaging descriptions that highlight the features that make your property unique and appealing and be active on social media platforms like Instagram and Facebook.

Protect yourself with an LLC

Starting a limited liability corporation (LLC) is something to strongly consider if you intend to complete a variety of real estate transactions over time. An LLC can protect you from a certain level of personal liability and make you appear more legitimate in the eyes of potential clients, agents or business partners.

You can find great tenants

If you’ve experienced difficulty leasing out a property in the Tampa Bay area (Hillsborough, Pasco, Pinellas and Hernando counties), call us. We can help you get the right tenants into your property.

Ready to purchase a Tampa Bay investment property? Trust Team TLC to find you a profitable property and handle your property management and all your real estate needs!

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