If your Tampa rental property has four or more units, you own a multi-family investment. This is an important distinction, because managing a multi-family building is different than managing a single family residence.The services offered and fees you’re charged by many Tampa property management companies will be different. With this type of an investment, it’s critical to keep the property up to code. Otherwise, you can face fines and other consequences.
Local Inspection Requirements
You will want to make sure that your property is legal and has the proper certifications from the municipality in which the property is located. You will also want to make sure that all safety features are approved and emergency plans are in place.
Make sure you have the necessary safety precautions in place at your property. Many Tampa landlords will overlook things like handrails, door and window locks, and electrical wiring. Have an electrician inspect your wiring and be sure to have your heating and cooling system as well as your ventilation units serviced regularly. Pay attention to security as well. You want to provide a safe home for your tenants, and you also want to protect your investment. Look at your outside lighting and don’t let the shrubs and trees in front of the building grow so high that someone could lurk behind them.
Tampa Tenants and Multi-Family Properties
Encourage your tenants to avoid problems. Overloading circuits and using improperly installed extension cords can increase the risk of fire and danger. If there’s a maintenance or repair need, you want to make sure they know how to report it and what to do. Tenants in a multi-family complex also need to be respectful of their neighbors, particularly in the common areas.
Property Management Tampa
Whether you have a four-unit building or a 30-unit building, using a professional property management company in Tampa will help you keep our property up to code. You’ll stay out of legal trouble, and you’ll be able to meet all the requirements of Tampa landlords.
We have a team dedicated to multi-family properties, and can help with the challenges that face Tampa investors. If you have any questions about multi-family properties or Tampa property management in general, please contact us at Rent It Network.