The average rent in Jacksonville, FL has gone up significantly over the last few years. Back in 2020, it was just over $1,100. But today, it's creeping up closer to the $1,500 mark.
If you're the owner of Florida rentals in the Jacksonville area, all of this will make it even more important than usual for you to understand the rental valuation of your properties. It'll be imperative that you have an accurate rental property valuation done on each property you own.
Check out several reasons why a rental valuation in Jacksonville, FL should be so important for landlords below.
Ensures You're Asking for Enough Rent
If you haven't done a rental valuation in Jacksonville, FL lately, the rent for your rental properties might be on the lower side. Your tenants will obviously love this, but it'll prevent you from making the kinds of profits you could be pulling in.
This is the top reason to have a rental valuation performed on a rental property early and often. It'll guarantee you're able to get top dollar when renting out properties in the Jacksonville area.
Helps You Avoid Dramatic Rent Hikes
If you don't do a rental valuation in Jacksonville, FL often enough, it might force you to raise the rent on a property dramatically at times. This could potentially put a great tenant in a position where they won't be able to stay in this property anymore.
You can steer clear of these kinds of dramatic rent hikes by doing rental valuations on a regular basis. It'll help you slowly increase your rent over time so your tenants don't get hit with too many huge rent hikes they can't afford.
Motivates You to Make Rental Property Improvements
If your Florida rentals are already pulling in the most money possible, you may not need to worry about making improvements to them. But if there are improvements you could make to command higher rent on these rentals, wouldn't it be nice to know what they are?
You'll be able to look into this after having a rental valuation done in Jacksonville, FL. If you find your rental isn't worth as much as you'd like, you can investigate the idea of making improvements to it. You'll be a lot more motivated to make improvements when you know they're going to pay off in the end.
Arrange to Have a Rental Valuation Performed
A great Florida property management company can help you carry out a rental valuation. You'll be able to count on a property management company like Roundtable Property Management to assist you.
You can also rely on us to set you up with so many other services when it comes to property management in Florida. They'll make your life as a landlord easier and help generate more profits for you over time.
Get in touch with us today to get additional information on our property management services.