At Morris Realty and Investments, our focus is on exceptional management of your property. Our region includes Lake, Sumter and southern Marion counties. We take care of your properties as if they were our own. If you own a rental property and are looking for a premier management team, then look no further! We provide full management services, including aggressive marketing, tenant screening that includes credit, criminal and eviction history, short and long term leasing maintenance, inspections and accounting.
Morris Realty and Investments has helped many owners realize strong financial rewards in the prosperous field of investment properties. We give each client and property individual attention and care. We treat your property as if it were ours, carefully maximizing income while keeping expenses to a minimum.
We present your property to the largest available market and have licensed agents ready to show your property 7 days a week. We also have our own high traffic website to showcase your property. Being aware of current market conditions allows us to rent your property at its highest market value.
We work closely with other Real Estate professionals in our area to locate tenants. We receive many referrals from them as well as from previously satisfied owners, tenants along with internet generated leads to place quality tenants. We market your property on multiple websites that include the Multiple Listing Service, Realtor.com, Zillow.com and our company website. Marketing is also done in various print media outlet such as The Daily Commercial, The Daily Sun and Style Magazine. We move quickly to find a new tenant for vacant properties.
Morris Realty and Investments property management offers several levels of services to meet your needs. These options give property owners flexibility to choose how much of an active role they wish to take in handling their property.
To ensure we find you a qualified tenant in the least amount of time possible we do several things. We place signage at the property and publish the rental information on our list of websites. We have property managers available 7 days a week to show your property to pre-qualified prospective tenants. All tenants are screened and qualified with our comprehensive background checks, reviewing credit ratings, criminal history, sex offender checks, as well as eviction records. Income verification is also part of our screening process.
We handle all administrative duties in having each lease agreement prepare by a local attorney. We collect all rental payments in a timely manner, and follow up on late payments. We can pay your mortgage payments from rental income if so desired. At the beginning of the year we send out 1099 reports of income for property owner’s tax records. Morris Realty and Investments also handles the entire eviction process along side our legal team if so needed.
On the day of lease signing we photograph your property along with written walk thru inspection with new tenants. These are kept on file for record and the process is repeated when the tenant vacates the property. If there is ever a dispute against the security deposit we will not have to rely on our memory as to the conditions of the property during move in.
Rental placement services are another option we provide at Morris Realty and Investments. This level of service includes us placing signage at the property, as well as marketing on the Multiple Listing Service and other websites. We screen and qualify the tenant and have a local attorney prepare the lease agreement for the owner, no management is involved.
Property Management Services
– Recommendation on how to get the most from your property.
– Analysis based on comparable properties and market movement.
– Online with Multiple Listing Service
– Yard Signage
– Local media outlets (Daily Commercial, The Daily Sun, Style Magazine).
– All adult applicants are prescreened for credit, criminal and eviction history.
– All lease agreements are prepared by an attorney.
– Collect and handle all payments (rent, security deposit, pet deposits).
– Post late payment notices.
– Handle complete eviction process.
– Operate within the Landlord Tenant Law
– Comply with Federal “Fair Housing Act”
– Handle repairs with licensed, insured and bonded vendors.
– Phones answered 24/7
– Move in walk thru inspection in writing along with photographs of the property conditions at the time of lease signing.
– Move out walk thru inspections in writing along with photographs of the property conditions when tenant vacates.
– Bi-Annual inspection of occupied property.
– Monthly and annual income and expense reports along with 1099 statement.
– We can pay mortgage payments from rental income if desired by owner.
Frequently Asked Questions
Do you require insurance for the Owner/Landlord of the Tenant?
Yes, for the Owner/Landlord. The Error and Omissions insurance provider requires that Owners/Landlords carry a minimum of $500K liability in-surance. The minimum liability coverage allowed in the State of Florida is $300K. You need to contact your insurance agent and inquire if you have $500K in liability coverage. There is a good chance you currently have it, or already invested in the $1M umbrella policy allowed in the State of Florida. Due to rising attorney defense cost, this is a requirement by the insurance provider and you will need it to do business with Morris Realty and Investments. As proof of coverage, a copy of the declaration policy page from your insurer showing the $500K liability coverage will be requested upon signing a property management agreement.
Tenants are not required to obtain Renters insurance, but are strongly encouraged to obtain coverage to protect their household goods. Their decision does not impact our Firm or the Owner/Landlord so, although we strongly recommend it, it is not enforced or tracked by Morris Realty and Investments.
How do I know the repair people will do quality work?
We have established excellent relations with experienced tradesmen. Because of the volume of work they do for us, we are able to obtain both prompt and extremely competitive rates.
What happens if tenant does not pay rent?
Non payment of rent receives our immediate attention. If rent is not paid with the first 5 days of the month, we personally follow up on all tenants. This will usually generate the rent payment. If not, we will follow the procedures to terminate the tenancy as per the State of Florida requirements.
Who does the tenant send the rent payment to?
Under full management services, rental payments are made to Morris Realty and Investments. Management fees and any applicable expenses are deducted from the rental income before disbursements to owner.