Logo
FacebookYouTubeLinkedIn
(850) 473-3983

Improvements for rental properties Pensacola, Florida

Landlords: your tenants want updates.

When asked the question "What one improvement would you wish for your rental?" upon vacating, our tenants had a lot to say.  

Here's a list of the most common answers we received this year in order of frequency:

  • Needs upgrades and updating
  • Update appliances most commonly mentioned is the fridge
  • New flooring (carpet or vinyl is old)
  • Provide lawn care
  • New light fixtures; fans in all rooms
  • Windows and screens are old
  • Fenced yard or repairs to old fence
  • New counter tops
  • Needs new a/c unit
  • No gutters on home 
  • Updated bathroom
  • Wallpaper ripped out everywhere  
  • New exterior doors 

We know the old saying is "if it ain't broke, don't fix it", but your tenants disagree. They want new fixtures and updated energy efficiency. Tenants expect their landlord to continually make upgrades and provide routine maintenance. Landlords should build up a reserve to make these upgrades. 

As your property ages, it's a good idea to invest in routinely replacing components in your home. To keep your home in good condition, you should be completing maintenance frequently on your properties. Making these and other improvements will yield higher rents, less vacancy, and an overall better experience for you as a landlord. 

Reach out to us with any questions about becoming a Pensacola area landlord. We specialize in working with investors and landlords in the Pensacola real estate market. As we manage over 1,000 rental properties, our real estate agents understand rental market trends. 

We are currently accepting new properties in good condition in Pensacola, Pace, Milton, Gulf Breeze, Pensacola Beach, Perdido Key, and Navarre. 


Realty Masters of FL~ (850) 473-3983
4400 Bayou Blvd. #58B, Pensacola, FL 32503
Follow us on Facebook ~ Twitter ~ YouTube 

 

01-01-2018
Nicole St. Aubin
Landlords
02-02-2018
5 Tips for Renters in a Competitive Market

5 Tips for Pensacola Renters:  Finding a home in a competitive market

  • Do your research! Look up school districts, view all photos, walk down with street view on google maps, do a sex offender search. Read our blog here for more tips and websites to do research. If there is a real deal breaker, know about it in advance and don't waste everyone's time. Remember, a lot of the homes on the market are occupied so an appointment has to be arranged with a property manager and a current resident! 
  • Don't be so picky. I know, you want a fabulous house for as little as possible, we all do! With low availability, you can't be picky about 
    • Not all homes are brand new or just remodeled. If that's what you require, you will have a harder time finding a place and will have to act fast.
    • Sure, East Hill is a great place to live but with only 5 rentals available in the area and a median price of $1,000 per month, it's nearly impossible to find a 3 bedroom 2 bath affordable rental in the area. Downtown is similar with very few available and the majority being smaller, older homes in outlying areas of Downtown. 
    • Gulf Breeze schools are among the highest rated; that's why there's less than 20 properties for rent in the area with only four rentals in Gulf Breeze Proper and nothing available on Pensacola Beach. The average rental rate in Gulf Breeze is currently $1,700. 
    • As we approach PCS season, we see limited availability especially nearby the back gate of Naval Air Station. Expand your search area.
  • Come prepared!  We see great applicants miss out on homes every day as we are getting multiple applications on the most desirable properties. Be flexible and available for open houses and showings. Be sure you have your deposit ready when you apply. 
    • Have a folder with the following documents ready for when you find the right house! 
      • Driver's license copy for all adults over 18 residing in the property
      • Pay stubs or income verification for at least one month. Have all forms of income available and documented for each adult.
      • Photos of any pets you may have
      • Previous landlord information including phone and email address. Better yet, ask your current landlord for a letter of recommendation stating your rental rate, dates of residency, and contact information.
  • Be weary of scams.  Unfortunately, people like to take advantage of others when inventory is low. Never send your personal information via email or send money overseas without verifying. Craigslist scams are common and scammers are smart about their scams. They even create email addresses to mirror the actual owners name. This happens all the time so please be careful when leasing from owner, especially from out of state. 
  • Consider Purchasing.  In 2011,the average rental rate was $960 per month. The average Pensacola rental is now over $120 more expensive per month representing a 13% increase in rents over the last four years. Interest rates are low. Talk to us about your options to own your own home! Unsure about whether you have the funds required to purchase? Look into first time home buyer bond and grant programs. If you want more information, contact our office or email me here.
03-01-2016
Nicole St. Aubin
rental market
01-01-2018
Pensacola Rental Market Shortage

Pensacola Rental Market Shortage 

We are into peak rental season with below average inventory in the Pensacola rental market. The Pensacola rental market picks up drastically in February and March and peaks in July and August.  The market slows drastically over winter with the slowest month of the year being December. 

Rental rates have been increasing since 2011 and have increased on average $120 per month over the last four years from $960 per month to an average rental rate of $1,080 per month. 

  • The average list price for a 3 bedroom 2 bath in the Pensacola metro area is $1,144. 
  • 3% are over $1,000 a month (179) and 47% of those under $1,000 per month (158) .
  • The least expensive 3 bedroom 2 bath home is $750 and the most expensive is $2,295. 
We have less than a one months supply of rental inventory in Pensacola. 
  • There are 338 rental properties on Pensacola MLS. This is just at one month's inventory for a typical March.
  • 221 properties are located in Escambia County (Pensacola, Cantonment, Perdido Key, and Pensacola Beach) and 106 in Santa Rosa County (Pace, Milton, Gulf Breeze, and Navarre) 
  • Of these, 237 are single family homes, 19 are condos, 68 are town homes or duplexes/apartments, and 8 are mobile/manufactured homes.

Last week, areas of Northeast Pensacola and Milton were affected by tornadoes in the Pensacola area. The week before, a tornado devastated the town of Century in Northern Escambia County, Florida.  The Pensacola News Journal reported over 170 houses with "major damage."  A lot of these renters and homeowners have been misplaced. This puts further stress on the Pensacola real estate market, especially the rental market as these misplaced homeowners seek a rental property. Supply and demand always affects pricing and of cousre, home prices typically peak in the summer months as competition is more intense.

It will be hard summer to nail down your "perfect dream home" whether you are looking to rent or purchase! Make sure to sign up for new rental alerts and enlist the help of a real estate agent if you hope to purchase a home. 

Nicole St. Aubin, Broker Associate

Realty Masters of FL~ (850) 473-3983
4400 Bayou Blvd. #58B, Pensacola, FL 32503
#1 in Pensacola Rental Houses & Apartments
Follow us on Facebook ~ Pinterest ~ Twitter ~ YouTube 

03-01-2016
Nicole St. Aubin
rental market
01-01-2018

  • Downsizing
  • Holiday Events
  • Septic Tanks
  • Gulf Power Outage Map
  • Moving Tips
  • Burning Outdoors
  • Lawn care
  • Mulit-family
  • Fall Events
  • #spotthebear
  • Safety
  • HOA
  • School Grades
  • Bulk Item Pick Up
  • Housing Scams
  • Subleasing
  • Steps for First Time Home Buyers
  • 20 Year Anniversary
  • HVAC
  • Real Estate Investments
  • House Hunting Tips
  • Real Estate Market
  • Seminars and Personal Assistant
  • Rent or Sell
  • Pensacola area Zip Codes
  • Build Credit
  • New Construction in Pensacola
  • Energy Tips
  • How to Find HOA Rules
  • Landlords
  • Preparing for Freeze
  • Holiday Safety Guide
  • Maintenance Do's and Dont's
  • Home Warranties
  • Credit Score
  • Roads
  • Unapproved Dog List
  • Maintenance Tips
  • Pensacola Rental Inventory
  • Home Buying
  • Tenants
  • Community
  • Pensacola Rental Homes
  • Beulah Middle School Construction
  • Safety Tips
  • Things to Do
  • Realty Masters Team
  • Item Donations
  • Pensacola Rental homes
  • NARPM
  • Bed Bugs
  • Moving out
  • Community Involvement
  • Managing Rental Properties
  • rental market
  • 6 Effortless Downsizing Steps for Seniors
  • Christmas Events in Pensacola, Florida
  • Maintenance and Use Tips for Septic Tanks
  • Gulf Power Outage Map
  • 12 Tips to Make Moving Easier
  • Michael Longsdon
  • Nicole St. Aubin
  • Rebekah Perkins
  • Julie Benson
  • Jay Schwartz
  • Chuntell Patterson
  • Pam Brantley
  • Carlin Symmes
  • Realty Masters of FL
  • David Keen