Find out what to look for in a home renovation contractor plus discover 5 of the best home renovation contractors to consider for your next home remodel quote

5 Renovation Companies Every Homeowner Should Consider

There are 524,387 remodeling businesses in the US as of 2022. Of course, not all will provide the same level of service or have trusted contractors available that suit your home renovation. So how do you choose who to get a bid from? To help, we’ve narrowed down a selection of general contractors and builders that offer nationwide renovation and remodeling services.

What to look for in a home renovation contractor

We’ve all heard the horror stories, not all contractors are equal. Choosing the wrong general contractor to renovate your home could be a costly mistake that leaves you paying twice as much to repair poor workmanship or without your home essentials for months on end. 

There’s no way of knowing for sure until the job has started if you’ve made the right choice — but we have compiled a list of essentials you should be looking for. It’s also a good idea to get 2-3 quotes completed for your project to compare costs and services available for peace of mind. Before signing any contracts, make sure your renovation company and/or contractors are:

Don’t take risks with an unlicensed tradesperson. Only ever work with professionals who are fully trained, licensed, bonded and insured. It’s important to note that bonded and insured are not the same thing. A contractor’s bond is a financial guarantee that the terms of a contract will be fulfilled. This protects all parties from financial loss if the contractor doesn’t follow through with the terms of the original agreement. It’s also not simple to obtain, so successfully having a bond is a good indication that there is high confidence in the business or tradesperson being able to execute on the contract. Insurance on the other hand is a paid-premium that covers claims and incidents if something goes wrong — such as worker’s compensation if an accident occurs on site. 

Does the business have good references and before/after photos that you can see from other local customers? Are their online reviews positive or negative? Before getting a quote from any contractor, check out their website and see what people are saying about them to get a feel for their reputation. If you have friends or neighbors who have renovated their home, ask if they have any recommendations. 

Hiring someone you trust will go a long way in protecting your home and finances. Contractors and businesses should be honest and upfront about timelines, costs, and what is workable. If they can’t provide this or you can’t find information on their licenses and work history, this is a red flag. 

When choosing a nationwide contractor, you will be relying on the services of a local representative or franchise owner. Do your due-diligence and ensure that the people working in your hometown have the same reputation as their parent company.

Most (but not all) nationwide renovation companies will have financing options available. Be sure to check you want to spread out payments over time and read the fine print before signing up with any associated financing company. 

Offer good-value warranties and guarantees

Most renovation companies will provide a warranty on workmanship and installation for one year. Be sure to find out the details and terms of any warranties or guarantees before assuming that work will be redone at no cost to you. If there is a dispute or it’s not deemed faulty, you may need to pay again for work to be fixed.

Note what the communication is like when you approach anyone for a quote. Are you greeted with professionalism and in a timely manner? Do they show up when they say they will? Make sure you deal with a company who handles communication well and interacts with integrity.  

5 of the best national home renovation companies

If you’re looking for the best national companies for remodels and home renovations, here is a list of 5 nationwide builders and contractors to consider. 

Please note: The following list features information taken from company websites and is accurate as at 21 September 2022. Please contact individual contractors to confirm details as they are subject to change. 

Who: Belong, the world's first residential network

Areas serviced: Currently serving major cities in California, Florida and Washington including Seattle, San Francisco, San Diego, Los Angeles, Tampa, Orlando, Jacksonville, Miami and many more.

Why you should consider them for your home renovation: If your home is on the rental market, you need to make sure you optimize your spend for maximum return on investment. With a focus on features renters love, Belong can connect you with our extensive vendor network of over 10,000 professionals. We make sure contractors are licensed, bonded and insured. They have a wealth of experience in all areas of home renovation and are available for projects of any size. 

Financing available: Yes — and Belong homeowners on the residential network are pre-approved for Split It, which provides the option to divide and deduct the contractor costs over the term of your rental lease agreement. 

Warranties: In addition to a one-year warranty on workmanship, if you're not completely delighted with the quality of our partner’s work, they will do it again at no cost. 

Who: Window World is a large national franchisee for exterior renovations

Areas serviced: National, with over 200 locations across the country

Why: Window World specializes in home exterior remodeling, installing energy-efficient replacement windows, exterior doors, siding, and more to increase the curb appeal of homes while reducing their carbon footprint. According to Qualified Remodeler rankings, this franchised remodeler is the largest in the nation, completing over 200,000 remodeling projects in 2020. 

Warranties: All replacement windows and patio doors come with a manufacturer’s lifetime limited warranty, good for as long as you own your home.

Who: Re-Bath, the nation's largest complete bathroom remodeling franchise (owned by Home Brands Group Holdings Inc). 

Areas serviced: National, with over 95 franchises across 41 states

Why: Established in 1978, Re-Bath is a bathroom remodeling and renovation company. By sticking to this single-focus speciality, they are faster than the industry average when it comes to turning around a beautiful new bathroom for homes. Some installations can be completed within 5 days — but be prepared to stick to Re-Bath’s manufactured products to get this kind of speedy service and certain warranties. 

Warranties: One-year warranty coverage on workmanship and installation of your bathroom remodeling project, plus additional coverage for manufactured products. 

Who: Mr Handyman is a home service Neighborly™ company

Areas serviced: Nationwide with 189 locations across the US and Canada

Why: Mr. Handyman is best known for home improvement and repairs and is said to have served almost 1million customers in homes across North America. As a franchised business, not every location offers full remodeling services, but most can take care of home upgrades and some will offer full service basement, bathroom, and kitchen remodeling. The company’s remodeling professionals have an average of 10 years’ experience and they guarantee their work for six months.   

Warranties: Mr Handyman’s parent company, Neighborly, offers the ‘Done Right Promise’, which states that if you believe the job wasn’t ‘done right’, you can contact the local franchise owner within 6 months and they will fix it at no additional cost. You can find the exclusions and terms here. 

Enjoy A Wide Network of Trusted Pros

No one wants to spend an arm and a leg upgrading their rental property, but these simple upgrades can give your rental a refresh for less than $100.

Refreshing A Rental On A Budget: 6 Ideas That Cost Under $100

No one wants to spend an arm and a leg upgrading their rental property unless you can be assured of a good return, but these six simple upgrades can give your rental a refresh for less than $100.

Just Google “best price on'' anything – salad spinners, Rolexes, rubber bands, 21st-century whatever – and you’ll be overwhelmed. There’s something inherent in human nature that makes us bargain hunters.  

This is generally applicable to every person on the planet – even, if not especially, the wealthiest – but it’s especially true of landlords and people who are self-managing their own property. That’s because there’s a huge financial incentive to finding the right balance between quality and affordability. The more you spend on home improvements, the less money you have in your pocket; but also, the worse those improvements are, the sooner you have to renovate once more, which again cuts into your bottom line.

What’s more, smartly investing in home improvements can actually provide a short-term revenue upside, because you can charge more rent for a place when the extra expense is visible and alluring.

That’s why, in the best of times (which aren’t the times we currently live in), you take bids on big home improvement projects, and generally choose the cheapest option with the best reputation. And why you buy new appliances for your rental properties on Black Friday. Because the only thing you want to sacrifice less than quality is the quantity of dollars in your bank account.

The good news is that there’s a lot you can do – short of expensive remodeling – that can make a big difference in its marketability. 

In fact, for under a hundred dollars, there are a ton of savvy improvements you can make to your home — improvements that will make both your residents, and your checkbook, incredibly happy. Here are 6 of our favorites. 

We’ve seen the reaction to the sleek, new look that cool-looking faucets bring to bathrooms and kitchens in rental properties.  It’s truly a situation where a little goes a long way: this kitchen faucet from Aimadi looks like a million bucks, but will only run you $89.  And if you’re thinking that we’re leaving out the amount of money you’d spend getting a plumber to install the thing, you’ll be happy — and surprised — to know that changing out a faucet is a pretty simple task. Though of course, if you work with Belong PRO, we have an extensive network of vendors who are ready, willing, and more than able to deal with this kind of task.  And it spares you having to find the best YouTube video tutorial.

Another relatively inexpensive, quick, and easy-to-install home upgrade is adding some outdoor lighting to illuminate the driveway and/or any stone pathways at night. Trees also looking majestic with a glow from uplights.

Solar-powered LED options aren’t only a breeze to set up, they’re environmentally friendly, too, and require little to no maintenance. This set of 12 retails for $31.99, but we urge you to check the reviews because there is a big range of quality and many users are not satisfied.

Let’s face it: even in the most meticulously cleaned household, it’s only a matter of time before the grout starts gets grotty. No matter how hard you scrub it — no matter how much elbow grease you expend — it will never look entirely clean again. Even those fancy grout cleaners don’t always do the trick, and they will have no effect on the grout that gradually disappears over time, leaving a messy if not volcanic look.

There’s nothing more frustrating than that, in our opinion — when something is clean, but doesn’t look clean. That leaves two options – regrouting, which is not as complicated as it sounds.

Or if you’re not interested in going that far, we recommend recoloring and resealing your grout with a product like this. Of course you can opt for the traditional white, but consider going with a darker color; not only will the inevitable discoloration that builds up be less noticeable, but that pop of contrast looks more stylish, too. Dark grout with white subway tiles are very popular these days.

These beautiful ceiling medallions will spruce up the ceiling of any room with a little pre-war elegance. Easily installed with glue or screws they work with almost any pendant-style lighting fixture. Which is another thing you can update in style without breaking the bank, and give renters a lovely surprise when they look up.

Not only do they feel hip and urban – and industrial but they’re also highly useful; there’s little that bothers us more than having to dig around in our cabinets looking for a pot or pan, especially when we’re in the middle of cooking.  Easy to install and surprisingly affordable to purchase, they give any kitchen a shiny bright visual interest that feels clean and new.  What’s more, it makes the kitchen feel incredibly warm and useful; you can imagine yourself cooking and serving wonderful meals there.

It’s not something we generally fixate on, but a beautiful doorknob can have a powerful psychological effect; when the knob itself feels special, so too do the possibilities that lie behind that door.  On the other hand, when a doorknob is old, tarnished, and beat up, subconsciously we wonder how much the property owner cares about the property. Don’t be that property owner. For as little as 9 bucks you can buy a beautiful stylish doorknob that shows your residents how much you care about the house — and the people inside of it. This is especially the front door. Try one of these gracious door knockers to add even more style to a first impression.

Finding help with renovating or repairing a rental property

Though these small upgrades will have a profound impact, you can likely perform these tasks yourself. But for bigger renovations, which are too much for you to take on by yourself, we know who can help. With a vendor network of over 10,000 contractors, 24/7 concierge support and an innovative approach to property management, Belong stops at nothing to satisfy our homeowners.  

See why thousands of US homeowners are ditching outdated Property Management in San Francisco,San Diego, Los Angeles, Tampa, Jacksonville, Concord, Berkeley, Orlando and more.

Should you flip a fixer upper or renovate to rent? If the idea of taking on the workload of renovating and managing a home puts you off, we have the solution.

Renovate to Rent: How to Flip a Fixer Upper Into Passive Income

Aging fixer-uppers, home foreclosures and neglected run-down homes have long been the domain for house flippers (and HGTV series). Problem homes are snapped up for a bargain and sold immediately after renovation (or ‘flipped) in hope of a quick profit. But what about those playing the long game? Passive income could be more beneficial for your financial situation in the long term and less risky than a quick-flip. 

In this article, we’ll show you how to turn a fixer upper into passive income without taking on a huge amount of extra work and responsibility — by letting Belong manage the entire project end-to-end. 

Homes that need extra love sell for below-market rates, because more money is needed to bring them up to a livable standard. Once ready, if you don’t plan to live in the home, it can be sold immediately (flipped) or held on to for the rental market. 

Flipping is not technically an investment strategy. This is considered active income and you will need to work hard for this income as you prepare the house for immediate sale. This can provide a faster return, but the costs and capital gains taxes can be high. There are also high risks involved as costs can mount quickly and the market may dip while you’re under construction. 

Renovating to rent on the other hand, is an investment strategy as you will be holding on to the home long-term for the purpose of generating passive income. Investing in renovation and holding on to a property for the rental market can pay off in many ways:

A recently-renovated home can attract a higher rental price and your pick of quality residents to care for the home

You will enjoy tax benefits while you hold an investment property, if it’s rented by long-term residents (not family or used as a short-term vacation rental)



A well-managed home can generate passive income for years to come

The home should increase in value over time and you can benefit from appreciation, because renting allows you to hold on until the right time to sell, further adding to your return on investment

How to earn passive income from buying a fixer upper to rent

Before you get too excited about a bargain property, there are two essentials you’ll need to cover off if you want to enjoy passive income and turn a fixer upper into a solid real estate investment: 

1. You need expert advice from at least one qualified and experienced contractor about the costs of a renovation to bring the home up to code and attract a strong rental price for the location. 

2. The home will need to be well-managed so that you don’t have long vacancies and won’t need to lift a finger to generate rental income. From marketing to placing the right tenants and collecting rent, there’s a lot of work behind the scenes that needs to happen to achieve truly passive income. 

This is where Belong can help in a way no other builder or property management company can. Before we market a home, we conduct a thorough home inspection to assess for the structural integrity and safety of the home, as well as the functionality that will attract long-term renters. And because we specialize in homes for the rental market, we know exactly what your property needs to attract an optimized price for your home’s location. 

Learn More: Discover Belong PRO, the best alternative to Property Management in Seattle, Redmond, Oakland, and many more cities across California, Florida and Washington State.

Learn more about passive income and peace of mind with Belong

If you’re considering a ‘renovate to rent’ strategy, Belong can help. From expert advice to placing long-term residents, and keeping your home well-maintained — we handle it all.

Why? Because Belong wants to bring real estate investment back into the hands of individual investors, helping homeowners to achieve financial freedom. See why thousands of US homeowners are ditching outdated Property Management in San Francisco, San Diego, Los Angeles, Tampa, Jacksonville, Concord, Berkeley, Orlando and more.

Over 40m people carry student debt, so what are the practical impacts of forgiving this debt? How will student loan forgiveness affect the real estate market?

How Will Student Loan Forgiveness Affect the Real Estate Market?

Student loan forgiveness isn’t just an idealistic concept anymore — it’s becoming a reality for millions of Americans. 

Soon, applications will open to forgive as much as $20,000 of student debt per borrower. It’s a bold plan, and one that’s inspired much speculation on how it will impact the broader economy. 

Homeowners, especially property investors, are certainly watching. Over 40 million people carry student debt, second only to mortgage debt. What are the practical impacts of changing so many people’s financial standing in this way — and how will it affect the housing market? 

Some homeowners might be eagerly awaiting a rush of newly debt-free buyers, while others might see it as an unjustifiable cost, not worth its potential benefits to the economy. 

It’s a complex question, but let’s try to unpack it. How are student loan forgiveness and the housing market related? 

Currently, the Biden administration plans to forgive up to $10,000 of student debt per borrower, and up to $20,000 for Pell Grant recipients. Loan forgiveness will be available to borrowers whose yearly income is under $125,000. 

In the United States, most people with student debt owe around $25,000. By various estimates, forgiveness of $10,000 would completely erase the debt of 33% to 50% of these borrowers. 

And there’s more to the plan than just canceling debt. Thanks to new, income-based repayment standards, those with loans remaining after forgiveness will see their monthly payment cut in half.

Low-income households stand to benefit the most from student loan forgiveness. Nearly all Pell Grant recipients come from households earning under $60,000, and are significantly more likely to be Black, Hispanic or Indigenous. 

Together, these measures have the power to free up a significant amount of discretionary income — especially for Millennials, Gen Z, and people of color, who made up the largest proportion of Pell Grant recipients.

How debt, forgiveness, and the housing market are related

Two things are necessary to enter the housing market — an available down payment, and eligibility for a mortgage. 

Student loan debt can affect both qualifiers. In fact, student debt is one of the most commonly cited factors that hold people back from buying their first home. 

Monthly loan payments can eat up disposable income, making it harder to save up for a down payment. Lenders also consider applicants’ debt burden when considering them for a mortgage, with large loans seriously holding back what they’re able to qualify for. 

Eliminating or reducing that debt load could allow borrowers to save more money for a downpayment, as well as increase their purchasing power and get approved for a larger mortgage. 

In theory, that could release an influx of eager buyers into the housing market. That increased demand could drive home prices higher, creating what’s known as a seller’s market. 

Imminent housing market changes — what to expect? 

But in reality, of course, things are rarely so simple. In practice, it’s unclear if Biden’s plan would affect the housing market this dramatically — or indeed, create a noticeable effect at all. 

First of all, demand for housing already outstrips supply in much of the United States. While of course, markets vary by region, most homeowners are not struggling to sell. 

This reality is reflected in the rising problem of housing unaffordability in the US, with over half of Americans considering it a major problem in their community. 

Debt cancellation also doesn’t realistically translate into the immediate ability to buy a home — at least not for the majority of borrowers. 

Even in a best–case scenario, would-be homeowners would need time to save up a down payment with the newly freed-up funds. That means it would take at least 12 to 18 months before this new influx of buyers hit the market.  

In many cases, student loan forgiveness won’t even result in extra spending money. Most loan repayments have already been frozen for the last two years. Borrowers have likely allocated those funds elsewhere, such as to keep pace with rising gas and grocery prices. 

Nor is student debt the only factor keeping new buyers out for the market. For example, mortgage interest rates are sky-high right now — recently hitting their highest since the 2008 financial crisis.

Any changes in the housing market would take a while to become apparent after loan forgiveness is introduced. While there’s the potential to unleash major demand, in practice these effects could be limited. 

But overall, student loan forgiveness should be seen as a positive for homeowners. 

What does look fairly certain is that loan forgiveness will not outright harm the housing market, especially in active urban areas. There are already plenty of buyers looking for homes, and forgiveness would likely exaggerate forces already at play, rather than transforming the real estate market entirely. 

Depending on your region, owners may opt for a ‘wait and see’ approach, anticipating an influx of demand from newly debt-free buyers. In the meantime, renting out your home is a savvy move in many markets, allowing owners to generate passive income while their property rises in value. For a detailed outline of the factors to consider when determining whether to rent or sell, check out our e-book.

If you’re interested in renting out your home, but intimidated by the time and effort that goes into being a landlord, check out Belong. We’re a modern alternative to property management companies, making renting magical for homeowners and residents. 

Curious to see if your home qualifies? Reach out and schedule a consultation today.

Learn how to prepare your home for an inspection from potential tenants, from access to cleaning and clearing furniture.

Prepare For Your Inspection

To set you on the right track from day one, Belong inspectors will make sure your rental home is safe, comfortable and ready for occupancy. This means they will need access to all areas of the home. If the home is currently occupied, ensure it is ready for inspection and any residents are aware of what is taking place. Any pets should also be secured. If the home is vacant, it's a good idea to remove any furniture or personal items, or at least ensure there there is nothing preventing access. 

In order to accurately test utilities throughout the home, please ensure that water, gas and electricity are up and running during inspection. 

Homes under construction or DYI projects make it difficult for our inspectors to understand the current state of the home, we want to make sure that your home is ready to be loved and taken care of by your upcoming residents.

Please ensure that a full set of keys is provided to us either prior to or at the time of inspection. Your homeowner growth associate can ensure that the keys are kept secure at all times. 

Putting your home on the rental market? Learn how to prepare your home for an inspection from potential tenants, from access to cleaning and clearing furniture.

11 rental regulations property managers must abide by

Are Property Management Companies Regulated? 11 Renting Regulations to Know

Renting out your property is so much more than a business transaction. You’re sharing a place you care about, and you want to see it protected. But you’re also providing your residents with something very important — a home.

That’s why property management, and landlordship, is so tightly regulated in the United States. These rules ensure that residents get a safe, peaceful place to live, and that the home you’ve invested in is well taken care of. 

If you’ve ever wondered, “Are property management companies regulated?”, the short answer is yes. Property management companies (and self-managing property managers) are subject to laws governing both landlords as well as all businesses operating in the United States. Regulations vary a lot from state to state, but here are some of the most important federal regulations to know. 

1. Prospective residents are protected from discrimination

Passed in 1968, the Fair Housing Act prevents choosing — or denying — residents the opportunity to rent a home on the basis of: 

Hopefully, this is common sense for most property managers in 2022. But it’s still one of the most important rental regulations in the United States. Belong ensures all residents are given a fair shot at a home by approving qualified renters on a first-come, first-served basis. 

2. Residents must be informed if they were rejected due to their credit history 

Access to credit information is important to help you find reliable, financially secure residents. But this sensitive information should ideally be used with applicants’ full, informed consent. 

Under the Fair Credit Reporting Act (1970), landlords do not technically need tenants’ permission to access their credit reports and scores. However, getting permission is more considerate, and generally appreciated by renters. Regardless, property managers will need to let residents know if they were rejected for tenancy because of their credit history. Belong communicates directly with prospective residents on the homeowner's behalf, so homeowners can rest assured that all regulated communications are happening automatically. 

3. Service animals must be allowed in rental homes 

When it comes to the question, “Are property management companies regulated?”, the answer is straightforward when it comes to allowing animals in a property. You don’t need to allow pets in your rental home. But according to the Americans With Disabilities Act (1990), you do need to allow service animals, like guide dogs.

As long as the animals comply with local laws like licensing and vaccinations, property managers cannot preclude residents who rely on these important furry friends. 

4. Property managers cannot restrict children in a home

As part of the Fair Housing Act, managers cannot discriminate against applicants with children when looking for residents to live in your rental home. 

Not only are you unable to limit families with children from renting your home, but you also can’t keep certain rooms off limits and restrict children to specific areas of your rental. So, if you have any valuable or breakable items on the property, you’ll likely want to put those in storage before residents move in.

5. Property managers can choose renters of their own free will 

As long as they aren’t discriminating against protected groups, property managers can choose residents at their own discretion. That includes following whatever criteria they like, such as employment history, rental history, or income level. Typically, as long as your standards are reasonable and grounded in reducing financial risk, you don’t need to worry about discrimination.

Belong works hard to find quality residents that meet income and credit thresholds, then takes care of those residents from day one, ensuring they treat your property like home. 

6. Property managers may charge a security deposit of their choosing

While this is not a federal regulation, property managers are allowed to charge a security deposit in every state. Belong's required security deposits vary by market. 

7. A legal eviction process is required to remove a renter

No matter how late on rent a resident is, or how much they’ve damaged your property, you can’t simply change the locks or tell them to vacate the home. This is considered “taking the law into your own hands,” rather than going through proper, legal channels. 

Instead, you will need to follow your own state’s established processes for eviction. Any experienced and trustworthy property manager will agree. If the need to evict a resident from a home managed by Belong, we will work with you to make it as painless and fair of a process as possible. 

8. The home must be in safe, clean, livable condition

When asking the question, “Are property management companies regulated?”, regulations around the condition of a home should really be common sense. Your residents are looking for an enjoyable living space, and as a landlord or property manager, it’s your job to provide that. 

Belong makes this easy for homeowners, because all Belong homes are maintained by full-time, in-house Belong Pros that are on-call 24/7 to handle maintenance emergencies and ensure your residents are well taken care of. 

9. Tenants have the “right to quiet enjoyment”

Your property manager will likely need to visit your rental home on occasion. But they’ll need to give your residents plenty of notice, and they can’t show up without a good reason. 

10. Property management companies and landlords must be properly licensed 

Just like any other business, property managers need to comply with their state and region’s licensing regulations. In some states, that could mean a property management license, and in others, a real estate broker’s license. 

11. Property management companies must follow state and federal business regulations

Every business in the United States needs to follow certain rules to operate ethically — and that includes property management companies. A few of the most important are paying your taxes, complying with labor laws, and registering for an Employer Identification Number (EIN). 

We’ve now explored the question, “Are property management companies regulated?” and walked through 11 regulations. These legalities protect both you and the residents of your rental home. But for homeowners and managers who want to go above and beyond, these regulations should be considered the bare minimum. 

Renting out your home is all about making sure residents feel welcome, supported, and comfortable in their living space. Often, homeowners who excel in this area will be rewarded with reliable, committed renters who take care of the home as if it was their own. 

The property management companies of yesterday were too often inefficient and not human-focused, viewing renting as nothing more than a financial transaction. 

Today, modern alternatives to the property management company have emerged. These platforms, like Belong, leverage technology and put service first, creating a better experience for both owners and residents. 

Are you a homeowner looking for a better way to manage your property? Learn more about Belong and find out if your home qualifies today.

Property managers are subject to laws governing landlords and businesses operating in the US. Here are 11 regulations property managers must abide by

Are Property Management Companies Regulated? 11 Regulations to Know

Miami is one of the fastest growing rental and real estate markets in the country. Learn more about investing in and managing a rental property in Miami, Florida.

The Local Investors’ Guide to Miami Real Estate

Smart people have long seen the enchanting possibilities of Miami — that’s even how it got its beloved moniker of Magic City. The tropical climate, vibrant neighborhoods and culture has made it one of the fastest growing rental and real estate markets in the country. 

If you own a single-family home or condo in Miami, or are considering a rental investment in the city, this guide will direct you to tips on everything from school districts to property taxes and rental management for Miami. 

Why Miami is a great place for rental investors with single-family homes

Demand for single-family rental homes is soaring across the country, with Americans of all generations wanting larger homes with outdoor spaces. While rents have grown significantly for single-family homes in all markets, CNBC reported that Miami homeowners have been the biggest winners, with single-family rents soaring over 36% (up from 2% the previous year). 

Housing affordability can be an issue when breaking into the Miami housing market as an investor. RealtyHop’s affordability index ranks Miami as the least affordable housing market in April 2023, beating out LA and New York. Affordability is calculated by the average earnings of Miami residents, estimating that potential buyers need to spend 80.46% of their monthly income on the cost of homeownership. 

It's great news for people who own a rental home in Miami or have recently inherited a house in Miami. Because even as one of the least affordable rental markets, long-term renting is a better option than trying to break into the buyer’s market for many residents. This is keeping demand buoyant for rentals and should for some time. 

Best school districts in Miami to own rental property

Single-family homes attract parents. If you’re interested in investing in Miami real estate, you’ll want to understand the role school districts play in how potential residents will evaluate your rental property.

Miami is home to the fourth largest school district in the country: Miami-Dade County Public Schools. The school district your home is located in can have a real impact on how potential residents value your property, impacting your pricing and return on investment. 

If you’re researching neighborhoods, check out our list of the best school districts in Miami, or check out sites like Niche and GreatSchools to do your homework on cities such as Orlando and Tampa. 

Read More: Best Miami School Districts To Own Rental Property

We’ve already established that the Miami rental market is red-hot, but how much rent is too much to ask? How do you price a Miami rental and optimize long-term rental income when the market has gone a bit mad? With realistic, real-time rent valuations. 

The simple fact is that the rental market in Miami isn’t the same market of years past. Property values have changed too much, we’re all playing a different game now. Yet, it seems this is news to the property management industry, who are still using a handful of comps to price Miami homes in this complex rental market.

Belong addresses these rapid changes by taking a modern approach to pricing homes on the rental market. In fact, Belong has ditched the property management model to offer a completely new approach to the rental market.

When helping homeowners in Miami, Belong uses technology to blend live market data with an all-important metric: real demand for each home. We determine the right price for your home that will maximize rental income and keep vacancies low, long-term. And because we extend our services to renters as part of our community, we attract the best of the best to place in your rental property. Learn more about real-time rental valuations for Miami in this article. 

Read More: The Realistic Way To Price a Miami Rental Home When The Market is Mad 

How much property tax will I pay in Florida?

Property taxes in Miami are collected by the Tax Collector's Public Service Office for Miami-Dade County. While the tax will vary per property, the average property tax rate for Florida is 0.89% (accurate as of August 2022). Compared to other states, this places Florida around the middle-range, ranked 23 out of 50 for the lowest property tax rate.

Who are the best property management companies in Miami?

The best way to ensure your investment home is well-kept and profitable is to find the best company to help you manage it. But when comparing the best property management companies across Florida, you’ll be looking at a handful of differences between them all. Things like how much they charge in management fees and how often you are going to get slogged for more (if they even tell you!). 

With Belong, there’s no comparison. Because Belong isn’t a property management company, it’s a completely unique experience that is humanizing the rental market. 

Belong does things differently in Miami, by offering owners of rental homes:

Guaranteed Rent: Receive your rent on time, every month, regardless of when it’s paid by residents. 

24/7 Concierge Support: Both homeowners and residents have access to real-time support, going beyond emergency maintenance requests.

Transparent fees: No hidden costs like setup fees or lease renewal charges.

Modern-day marketing: Virtual tours and video marketing is included in listings.

User-friendly app: Belong's app provides convenient access to documentation, cash flow insights, and financial and insurance solutions. 

Long-term residents: Belong takes a personalized approach to match the right people, so they stay longer and feel at home.

Innovative financial solutions: Homeowners can manage cash flow effectively, even splitting the cost of maintenance and placement fees.

Eviction protection: Owners are shielded from legal costs if we ever place the wrong people

Extensive vendor network: Belong connects homeowners with a vetted network of over 10,000 professionals for repairs and renovations.

Comprehensive insurance solutions: Belong offers insurance options that protect homeowners, their properties, and residents.

Market-driven insights: Belong utilizes market data and real-time interest to maximize the value of your home.

Even though Belong topped the list (you can see the rankings here) when we compared Miami’s top-ranked property managers, it became clear we were comparing apples with oranges. 

Read More: Why Florida's Top-Rated Property Managers Are More 80s Than Miami Vice

As a land of sunshine, high demand and low taxes, Florida is an attractive state to own a rental home. If you own a home in Miami, now is the time to find out if you’re eligible to join the Belong residential network. We specialize in single-family homes and condos, helping individual homeowners to achieve their financial goals in the rental market. 

Here is a snapshot of what Florida homeowners are saying about Belong…

Great personal experience with Belong. They treat you like people versus other agencies that are focused on numbers. I recommend Belong 110%” - SBF

Wonderful experience with Belong Property management. They are taking wonderful care of my tenants. The level of professionalism they have shown is impressive, I will continue working with them as long as I have properties.” - Thalina V

I contracted with Belong to do construction and paint work at Curaleaf. Their price, quality, and timing was on point. Great people to work with!” - Danielle G

Think your Florida home belongs with us? Check out one of our local homeowner pages below to see if you qualify:

To speak to someone about listing your rental home, you can also call 786-628-0600 (English) or 786-786-1073 (Español).  

Before buying a home with an HOA, learn the HOA red flags to avoid.

HOA Red Flags to Lookout for Before Purchasing a Home

A poorly run HOA can cause headaches for homeowners, especially rental property investors. Before buying a home with an HOA, learn the HOA red flags to avoid.

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