If you seek property management in Lake Mary, you’ve come to the right place. From marketing to finances, Legends Realty provides all-inclusive services. Our licensed team ensures you receive total peace of mind, representing you throughout the entire leasing process.
Our Lake Mary property management services include:
We prefer to meet with you (if possible)
to view the property, discuss any concerns, and complete a property
evaluation and free rental analysis to help determine the appropriate
lease rate for the property. We want to ensure we are maximizing your
High Quality Marketing -
We have a nationwide marketing strategy. When we enter your property into the Orlando Multiple Listing Service (MLS), over 10,000 Realtors can see your home. We also post your listing online with photos, maps, and relevant property details. All of our listings are also available to Lease Locator companies in Florida. Referrals from current and past tenants and other agents we work with also provide us with a great pool of potential tenants.
Proper pricing of your rental home makes a big difference in marketing strategy. Even the
best home will have a hard time renting if it’s overpriced. We do our research and price
your home according to the current market. Finally, we make sure your house is ready to show.
Our attention to details such as curb appeal and interior cleanliness ensures your home is
rented quickly to a high-quality tenant.
We developed a marketing campaign that utilizes the latest technology and online resources to attract prospective tenants. Our ads are individually designed for each property to create a professional look and highlight the special features of your property.
Our web-based marketing includes more than 100
websites such as:
Property Owners - Please complete the following form for a Free Rental Analysis of your
home. Our office will forward to you all the necessary documents
for your review, will prepare a rental range and one of our Business
Developers will contact you for an appointment to view your property.
We specialize in the areas of Seminole, Orange and West Volusia
counties of Central Florida.
You won't find another property management company in Lake Mary that is more available to show properties. We have staff available to answer the phone and schedule showings on the weekends, holidays, and evening hours; this is when renters are looking! LOW VACANCY RATE - We can typically get most properties rented within 2 to 5 weeks on average. Our Leasing Consultants send Weekly emailed communication updates while property is vacant.
Thorough tenant screening is critical to a landlord’s success and we do a number of things to screen tenants.
In our residential verification, we talk to past landlords and ask detailed, open-ended questions about the tenant.
When a private individual instead of a management company is listed as a previous or current landlord, we do a property tax
search to confirm we’re talking to the person who actually owns the property. This stops people from trying to commit fraud
and our extra level of scrutiny has saved our owners from some potentially bad tenant situations.
We analyze credit reports to get an accurate financial picture and evaluate a tenant’s ability to meet their obligations.
Applicants must meet our established credit standards. We pull driver’s license records to check previous addresses.
If an applicant says they have been living at one address for three years, but we find they renewed their driver’s license
at a different address a year ago, we wonder what they’re trying to hide.
Employment and income verification is also an important part of our screening process. We contact employers to verify employment and income.
It’s required that a tenant earns at least three times the monthly rent in order to qualify, and we ask for pay stubs to document the income.
If someone is self-employed or retired, we can verify income other ways.
A thorough background check is critical in the tenant selection process. We look for bankruptcy, foreclosures, evictions, repossessions, convictions.
Finally, we conduct additional searches that reveal any criminal background or other red flags
(check writing ability and social security fraud alerts and so much more).
We don’t let tenants move in with pets unless our property owners allow it.
Lots of potential tenants have pets, so if you decide to allow them, we protect your property by
limiting the breeds we’ll accept as well as the quantity and size of the animals.
Pet owners are subject to extra screening and lease addenda.
We handle all the necessary paperwork associated with the leasing of your property and ensure compliance
with applicable local, state and federal laws. Our lease is attorney drawn and is updated and reviewed by
an attorney regularly. We enforce all the terms of the lease including timely rent collection and the
tenant's responsibilities to maintain the property.
Maintain Consistent Policies with Your Tenants -
Keeping your relationship strictly professional and allowing your property manager to enforce your lease
will help you be a more successful landlord. If rent begins to come in late or not at all, you don’t want
to let your tenant get away with it. Even if you are emotionally moved by the tenant’s situation, you need
to think about your property as an income producing business.
Scheduled Property Reviews -
Our maintenance staff visit
the property on a regular basis to perform bi-annual property reviews.
The visits include a full walk-thru of the interior and exterior of
the property along with digital pictures and a written report. Frequent
visits help to discover tenant damage or neglect, maintenance concerns,
unauthorized pets, over occupancy issues, etc, early in the term of
Move-out Process -
We set high expectations for our tenants
from the beginning of the lease period. Tenants are supplied with
written move-out procedures to follow and are held accountable for
any repairs or cleaning that is necessary when they vacate the property.
Our move-out process is extensive and includes a digital video recording
of the property.
We have skilled, licensed and insured tradesmen and suppliers available to service
your property's needs. With our purchasing power we get high quality service at reasonable
rates. Our Vendors are loyal, trustworthy, and quick to respond. All receipts for services
are provided with the owner’s statements. Emailed Communication updates of repairs and maintenance.
Setting High Standards -
When you put your property on the market in the best condition it can possibly be,
you’re going to get a lot more interest from potential renters. You’re also setting a
standard for how you expect the property to be maintained during the course of a lease.
If you hand over a home that has scratched flooring, broken appliances and chipped paint,
your tenants will get the idea that you don’t care very much about the home. They won’t care either.
Detailed accounting for all income and expenses for your property is provided on a monthly basis.
The timely disbursement of funds to owners is a high priority. We utilize the industry's most advanced
property management and accounting program to accomplish this. This program also allows owners to
access the system online and obtain property information through the online Owner Portal. Copies of
all lease documents, accounting statements, work orders, receipts, and vendor invoices are stored
and available for viewing in the Owner Portal at any time. At the end of the year we supply owners
with annual statements categorizing all income and expenses for the property and a 1099-MISC for tax purposes.
Q: Answers Regarding Funds
A: When you entered into a management agreement, LEGENDS REALTY established an account for you and your property. LEGENDS REALTY recognizes the importance of accurately collecting and disbursing funds. The bookkeeping program used by LEGENDS REALTY is specialized software designed to handle the many facets of property management and accurate record keeping, and complies with the requirements of the Florida Real Estate Commission.
A: LEGENDS REALTY holds your account in a trust fund mandated by the state of Florida. This account does not earn interest. LEGENDS REALTY accounts for each owner’s funds separately in the trust account and does not co-mingle funds with broker monies, following the Florida Real Estate Commission requirements.
Q: Monthly statements
A: LEGENDS REALTY sends monthly statements to owners via online owner portal. An email will be sent monthly as a reminder. If you have difficulty reading your monthly statement, please contact your management team. We are happy to assist you and answer your questions.
Q: Disbursement of monthly funds
A: LEGENDS REALTY disburses available funds to owners on the 10th of each month UNLESS either day falls on a Saturday, Sunday or Holiday, in which case disbursements are processed on the following Tuesday. A calendar of scheduled payout process dates is available on our website www.centralflrentals.com. LEGENDS REALTY does not disburse funds on weekends and holidays. LEGENDS REALTY does NOT issue owner checks unless there are sufficient funds in the owner’s account. It is vital to accurately post rents, pay vendors, and disburse funds for your account. Therefore, it is vital that LEGENDS REALTY adhere to this schedule to ensure servicing every owner’s account.
LEGENDS REALTY distributes owner funds in two ways:
Company check disbursed directly to the owner accompanying their monthly statement.
ACH direct deposit – directly disbursed into an owner’s bank account; LEGENDS REALTY mails monthly statements after disbursement. A form to start ACH is included with this information.
Q: End of year procedures
A: At the end of each year, LEGENDS REALTY is required to file 1099’s for income received over $600. Please note that this amount is for “total income received,” and not the yearly total of owner disbursements. The Internal Revenue Service dictates the “total income received” requirement. Please note that security deposits are not included in this amount.
It is necessary that you supply LEGENDS REALTY with the necessary Social Security/Tax ID information so the 1099 is accurate. LEGENDS REALTY will send the 1099 for the rent by January 31 for the previous tax year. If there is a change in your tax information such as a new trust or address, please notify us with the Owner Change of Information form. If you need another change form, please contact us.
LEGENDS REALTY also issues 1099s for disbursements to vendors for work over $600.00. Therefore, owners do not have to issue 1099s for work completed and paid through the LEGENDS REALTY trust account. Owners are responsible for issuing 1099s to any vendor paid through the owner’s personal account.
The last statement of the year will reflect “total amounts” for income and expenses that have transpired throughout the year, such as management fees, leasing fees, landscape, utilities, repairs and maintenance, etc. The amounts will not reflect any funds issued through the owners personal account. Owners can submit their last statement to their tax person along with other information for income tax reporting. LEGENDS REALTY does not issue statements to the owner’s tax preparers. Please note a copy of the owners 1099 and cash flow report will be available in the owners online portal.
New Age Real Estate incorporates the most advanced
technology available in the business:
Electronic Rent Collection (ACH)
Web Based Management and Accounting Program
Owner and Tenant Online
Online Document Signing and Storage
Electronic Statements and Reporting
Bank Lockbox Service
e-fax, VOIP phone system
Digital Video Recording Online & Website Advertising
Search Engine Placement
We are always looking for new innovations that will better serve our
Licensed REALTORS® -
A real estate agent who is a member
of the National Association of REALTORS®, which means that he or she
must uphold the standards of the association and its code of ethics.
Eviction Protection -
We pay for the cost of an eviction if the tenant we procured defaults on the payment of rent.
What will your home rent for? -
We will prepare a rental range for you; forward all the documents for your review then
a Business Developer will call you to schedule a time to view your
Click here Free Rental Analysis
Our fees are competitive: WE OFFER SEVERAL CHOICES FOR MANAGEMENT
Full Service Management Agreement: *recommended
Our monthly management fee is 8% or $100 whichever is greater of the collected and a one-time fee of 50% of contracted rent once we secure a tenant. The fee comes from the first collected rent.
Lease Only Agreement:
For local owners interested in managing their property, but need assistance in marketing and securing a qualified tenant.
There is a one-time fee of one full month’s rent once we secure a tenant for this service. The fee comes from the first collected rent.
***We offer a 20% discount to our Management Fees listed in our Agreement to Owners/Investors once we list four or more properties under one Tax ID or Social Security number using our Full Service Management Agreement.
Additional Professional Services such as Eviction Protection, detailed Bi-Annual Property
Review Reports, direct deposit, initial lease preparation and so much
more are offered with Full Management Only
Call today and let us turn your property into a profitable investment for you with reputable Lake Mary property management services. Our direct line is 407-333-1010 ext. 2.
If you are in the market to purchase or sell investment properties please contact us through our website.
Lake Mary Area Information
Lake Mary has never lost its focus of promoting a sense of community where people can live, work, and play in a safe and friendly environment...that's part of the reason Lake Mary is still one of the fastest growing areas in Central Florida. Located approximately 18 miles north of Orlando just off Interstate 4, the City continues to be a choice location for high tech businesses, many of which spend considerable time and money searching for the right place. Among other things Lake Mary is known for its well planned residential communities, excellent schools, prominent businesses including outstanding restaurants, and a variety of shopping opportunities.
The crime rate in Lake Mary is one of the lowest in Florida thanks to our pro-active, community-based Police Department. On the fire side, we have a skilled Fire Department ready to deal with any emergency including rapid response and rescue. Our Parks and Recreation facilities are not only beautifully maintained, but offer something for everyone. The bottom line is that Lake Mary has all the conveniences of Orlando without the traffic!
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