(407) 649-4205

Personal, Professional Property Management in Lake Mary and the Central Florida area.
Serving the Orange, West Volusia, Volusia, Lake and Seminole Counties

Victoria Equities Realty & Management Co.

The highest standard in Lake Mary Property Management


For 26 years, Victoria Equities Realty & Management Co. has been leasing and managing investor portfolios and residential properties in Orange, Seminole and Volusia counties. We are experts in the local market, and we put our knowledge, skills and talents to work for you, your rental homes and your property management needs.

Whether you’re a local in Lake Mary or a Central Florida property owner, an out of state investor who will one day retire in the home you’re renting out or an international investor who sees opportunities for growth in the central Florida market, we can protect your property and maximize your returns.

Why Work with Us?

  • Experienced, hands-on managers who also know leasing, developing, investing and rehabbing real estate.
  • You’ll get accountability and transparency. From online statements to immediate communication, we are accessible to you, your tenants and our vendors and partners.
  • We are small enough to provide outstanding customer service and large enough to provide the tools and resources you need to be a successful landlord and investor.
  • Problem solving is our specialty. Whether it’s reducing vacancy, screening tenants, marketing strategically or complying with security deposit laws – we’ve got it covered.
  • Competitive costs. We believe in making excellent property management affordable. We’ll explain all our fees up front, so there are no surprises.

Our Services

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Get a free detailed rental information on your investment rental property.

 

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Lake Mary Property Management Blog


Hurricanes and Tropical Storms

Bobbie Witt - Wednesday, August 24, 2016

I found this article and think it’s appropriate for this time of year!

 HURRICANES AND TROPICAL STORMS
by Cathy L. Lucrezi, Attorney at Law

It's that time of year again. A tropical storm will cause mischief somewhere and damage someone's rental premises. The havoc will interrupt the tenant's possession of the premises as well as the landlord's income. Here are some important repair matters to keep in mind:

Damaged and uninhabitable. If rental premises are damaged in a way that renders them uninhabitable, the tenant is not liable for rent for the period that the premises are uninhabitable. The owner is not obligated to pay for a hotel or move the tenant to another unit (unless the lease specifically says he should).

Repairs should be completed as quickly as is reasonable. This is often difficult in a post-hurricane period, given the great demand on services. Documentation is key to show that you are making best efforts to get the premises repaired.

Damaged but still habitable. If the premises are damaged but not destroyed, it is wise to work out some "credit" to the rent until repairs are done. How much of a credit depends on the facts of the particular situation. Alternatively, a wise landlord will have a clause in the lease that allows the landlord the right to terminate the tenancy in the event the premises are "damaged".

The tenant cannot refuse to pay rent. However, some compromise should be reached. If you served a three day notice while significant repairs were ongoing, and then filed an eviction, it is very likely that a judge would consider the damage to be a "diminution" in value. That's enough to mess up an otherwise good eviction case.

When repairs are completed, you will be on solid footing to demand the full rent.

Destruction of premises. If the rental premises are destroyed, the owner might wish to terminate the lease rather than do repairs. Unfortunately, the option to do this is limited. The Florida statute does not entitle the landlord to terminate the tenancy under these conditions. The tenant can do so, but not the landlord.

The landlord can terminate the tenancy due to destruction only if the lease says he can. This language is usually found in a paragraph titled "Casualty" or "Maintenance".

If the lease does not contain language that permits the landlord to terminate the tenancy, yet repairs are out of the question, the owner may want to "invite" the tenant to terminate the tenancy. The landlord would suggest to the tenant that the tenant could give notice to vacate and be released from the lease.

Data and documentation Sure, everyone knows to take photos of damage after the hurricane, but do you have photos of what the place looks like now? It is sometimes hard to fully appreciate an "after" picture without having a "before". You should record and document the condition of the rental premises now, before the winds blow.

 

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Considering Joining the Florida Real Estate Investment Pool?

Bobbie Witt - Wednesday, August 10, 2016

Real estate has and always will be a common investment means. However; timing is everything when deciding to purchase your investment property. Today’s market is HOT with interest rates and the demand in the rental market. Now is the time to profit in the Single Family Homes. The millennials are not purchasing 30 year mortgages on a house; they are preferring to live in a rental property. They want the freedom and flexibility to do other things. The Single Family Home is providing this niche for them, it provides the tenant the same benefits of living in a home without the attachment of a mortgage.

Of course, you want to make money, make sure you check and double check your cash flow. Consider the following:

Potential Income (research the market):

Less (estimated expenses):

Insurance

Taxes

Maintenance

Utilities

HOA Fees

Property Management

Budget for future maintenance

Potential Net Income

When getting started in Florida Real Estate Investing do your research and seek out the advice of many professionals in the industry. Victoria Equities Realty & Management Co. is one of those professionals; we can help you with your property management needs. Please feel free to reach out to us for a Rent Ready Inspection and/or Rental Analysis.

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Contact Us

255 Primera Boulevard
Suite 160
Lake Mary, Fl 32746

Phone: (407) 649-4205
Fax: (407) 386-3132
Emergencies: (855) 559-5525

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