You may be asking yourself where do I start in deciding what kind of property to purchase. While answering this question does take a lot of information, I hope that this page will simplify the process and help you get started and feel confident that you too can purchase investment property. Here are some of the most frequently asked questions and the answers I often give:
Do I buy a furnished or unfurnished property? If the property is going to be used by the owner for more than two weeks out of the year than furnished is a good choice. However, unfurnished properties tend to rent on an annual basis and this provides the most steady income. Furnished units can be a good property for a family who is going to be using the unit during the off season or periodically throughout the year.
Do I buy a condo or a home? Both types of properties have their own pros and cons. Condos ussually have an association that cares for all outside maintenance and sometimes even some of the utilities. However, condo associations can also limit the amount of rentals or length of rentals that you can have during a year. Homes have unlimited rentals. However, the exterior care is left to the homeowner. Normally homes are rented unfurnished on an annual basis. Condos can be rented either seasonally or annually.
What costs will be reoccurring on a monthly basis? Condos require maintenance fees. Homes(if located in deed restricted area) lawn maintenance and pool care are usually included in the rental rate. Seasonal properties require the owners to pay for electric, local phone, cable and water bills are all paid by the owner and maintained throughout the year whether the property is occupied or not.
What services do you provide? We have two kinds of contracts, Management and Non Management. For Seasonal or furnished propeties we only do these with the management contract. Non Management services include advertising, showing the property, tenant screening, drawing up of the leases and handling the initial move in. Management services include all of the these services plus we continue to handle the property on a monthly basis there after. We collect the monthly rent, process the file, provide you with a monthly cash flow statement, handle any maintenance calls up to $100, and any emergency call is filtered through our office.
Casey Realty Corporation does not collect information on those visiting this website. Therefore it does not sell or knowingly transmit information to other sources. Any email inquiries will be used solely for communication purposes and will not be added to any opt in mailing lists or sold to any third party.
