|
Hello from Pensacola! We hope you've all filed your taxes (or at least your extension) and are enjoying Spring. The weather here is perfect and the tourists haven't arrived
so we are living our best Florida lives.
We've got exciting news. After 20 years on the same software, we are transitioning to a new property management software this quarter. With it will come a new website, new owner portal, and the ability to communicate with you in so many ways we've not been able to before. We are excited about the change and know you will be, too. Read below for more updates and news from the Pensacola area. -The Realty Masters Team |
|
April is National Fair Housing Month
We want to remind you of our dedication to the principles of Fair Housing. We realize that property owners don't always understand the reason behind some of our business practices, but they are always designed to protect everyone and to comply with Fair Housing guidelines. The Fair Housing Act prohibits discrimination because of race, color, national origin, religion, sex, familial status, and disability. Thank you for your understanding and dedication to Fair Housing principles. |
|
Transition to Rentvine Software in June
After 20 years on the same software, we will be upgrading to the latest and greatest property management software called Rentvine. We are excited as it will allow us to communicate with you in ways we have never been able to before. We are certain this change will bring more frequent, more up-to-date, and more quality communications for you and your residents, and will allow us to better manage your properties. Here are some of the highlights that have us excited:
If you have another property manager who has a system that you love or hate, reach out to share that feedback and tell us why! We want to make this transition as smooth as possible on everyone and welcome any feedback you may have. We will make the transition by mid-June, so look for a new owner portal email in the coming months to establish your portal. Don't worry, it will be super easy to set up. |
|
Let's
Talk About Insurance... Again
You'll notice that our last few newsletters have discussed the increases in insurance premiums in our area. If you have not been affected by this yet, you will be. You should not be blindly accepting insurance renewals if your insurance premiums have skyrocketed. Just keep in mind that securing a new insurance policy is not as easy as it used to be. In order to secure a new insurance policy, you may need:
If your property has a roof more than 15 years old, we advise to be careful in changing policies as you may not find another. We are happy to help review your insurance policy and help you to shop for a new policy if your premiums have increased drastically. Send them to your contact or to Nicole and we'll review them to give some advice. We can also connect you with an insurance agent who can do a thorough review of your policies. Also, friendly reminder to send us your insurance policy. We will be auditing our files and requesting insurance declaration pages soon, so be on the lookout for that. |
|
|
|
Here in the Pensacola area, there is no better preventative maintenance task than completing a spring HVAC tune up! Electing to have a tune up completed now, can
prevent your property from needing additional service this summer. We have two vendors offering a great deal on these services.
What are the Benefits of a HVAC Tune Up? During an HVAC tune up, the technician evaluates the system and provides routine maintenance to prevent seasonal issues such as a clogged drain which could cause a backup and ultimately lead to a leak. Leaks can cause major damage to flooring, so it is best practice to catch these things before they become problems. The technicians also test the system thoroughly and can identify problems that can easily be fixed early to prevent a breakdown or more extensive damages to the system. What Does the Service Include?
A well-maintained HVAC system tends to have a longer life span. As we know, most tenants are not great at maintaining the HVAC system, and this is one of the ways we can help educate our tenants while showing them you also care about their comfort during the season while also extending the life of your systems. If you want to schedule a spring HVAC tune up for your property, please reach out to your property manager or respond to this email. |
|
Termite Season & Termite Bonds
We notice most termite companies do their renewal inspections this time of year. Please make sure you coordinate those with your property manager, and make sure we have funds in your account to pay the bill. Also, remember that termite contracts require the property to be free of wood rot and to retreat the property every few years. Be sure we are aware of these details to best assist you with your policy. If you don't have a termite bond and would like us to get an estimate for one, let us know. Homes are most susceptible to termites if they are built with wood siding and / or off-grade wood foundations. Here's a few things you can do to prevent a costly termite infestation:
|
|
Zillow Rentals Update & Zestimate
Your rentals are once again being advertised on Zillow. For a short period of time, our rentals were removed from Zillow. While lengthy vacancy rates have not been an issue during this time, we are happy to be advertising on Zillow again. We do anticipate as rents increase to a level that is not affordable for many, that it may be a bit harder to lease your property. While we're talking about Zillow, we wanted to talk about their Zestimates. We have a lot of landlords and sellers asking how accurate the Zillow estimates are. Zillow reports the Rent Zestimate is a “starting point in determining the monthly rental price for a specific property” and recommend that you talk to a local real estate agent or property manager that specializes in rentals to determine an accurate listing price. Their estimates do not take into account special features, location, and current market conditions. We can appreciate as a landlord wanting to get the most out of your investment, however, we also want to price the home close to comparable homes to ensure it does not sit vacant for extended periods of time. We have also noticed that often key factors, such as the number of bedrooms, bathrooms, or square footage are not accurate. This misinformation can skew the numbers greatly. Zillow gets the information from user-submitted data as well as public records. That information is not always accurate or takes into account other factors. Also, keep in mind that many investors have come in to the market, purchased properties, and remodeled them to increase the value. If your property is not updated, you cannot achieve the same rents as one that is. We want to assure you that we run a detailed market analysis on your property each time your property comes vacant using local MLS data from the last 6 months to year. We have seen Zestimates come in up to $500 higher or lower than market rent so while we do consult Zillow often to see what tenants will see, we do not price properties based off Zillow Zestimates. Interested in reading more about Zestimates? Read Zillow Estimates Not as Accurate as You Think on Investopedia, or T hink Twice About Trusting Zestimate 'Zestimate' Home Values on Money.com. |
|
Pensacola Real Estate Market Update
We continue to see record sales prices and low inventory. The Pensacola Real Estate Market is still hot, and it's still a seller's market, but we are seeing increased concerns regarding affordability, interest rates, and inflation. If you have been holding out and waiting for prices to max out, we think now is the time to sell as indicators are showing that we could be near, or at the top of the market. With interest rates and inflation, affordability concerns are among the top concerns for buyers and sellers. Unfortunately, with increased interest rates, we are seeing buyers priced out of the market, and we are starting to see price drops and increased days on the market, especially in more expensive price brackets. While nobody really knows what's to come, we think now is a great time to sell your house. Interested in a CMA? Our sales team will prepare one for you right away. Just reply to this email or complete an instant home valuation on our website here. In the meantime, here are a few market stats:
|
|
Pensacola Rental Market Update
Pensacola rents continue to increase at an impressive pace (we hear all of Florida is experiencing this) along with everything else in the world. Unfortunately, we have seen a noticeable difference in delinquent rents over the last few months as well. Unfortunately, not only have rents and utility bills increased, so have all other costs. When looking at rent increases for your property, we take into consideration a number of factors including:
Here are a few market statistics:
|
|
|
|
Realty Masters of Florida
4400 Bayou Blvd 58B, Pensacola, FL 32503 Rental Office Call us Monday- Saturday at 850.473.3983 Info@PensacolaRealtyMasters.com www.PensacolaRealtyMasters.com www.Pensacola-Gulfbreezehomes.com LET'S CONNECT 
 |