You Have Investment Questions
We Have Answers
What is the rental landscape in the Tampa Bay Area?
The rental landscape in the Tampa Bay Area is currently quite competitive, with high demand and rising rents because of the following:
- The Tampa Bay Area has experienced significant population growth in recent years.
- A strong and diverse job market attracts people to the area, further fueling rental demand.
- The region’s attractive climate, beaches, and lifestyle make it a popular place to live.
- Many families with homes were displaced in the Hurricances of 2024 which tightened the supply.
- Due to high demand, rental rates have been steadily increasing in the Tampa Bay Area.
- Rental homes in demand, particularly among families seeking more space and privacy.
Townhouses and Condos: These offer a middle ground between apartments and single-family homes and can be popular rental options.
What kind of services does Synergistic offer for investors?
. The Synergistic Property Management team comprises local experts with decades of experience. We care for properties as if they were our own. We are focused, fair, and firm when expertly negotiating and calmly navigating complexity, ensuring the best outcomes for our clients. Our goal is to reduce stress and uncertainty. Reliable and consistent communication are central to our customer service. Answering phone, texts and emails is a top priority.
Property managers are the linchpin between the property owner and the tenants, ensuring the property remains profitable and operates seamlessly. Their responsibilities encompass overseeing the daily operations of a real estate property, be it residential, commercial, or industrial, and involve a diverse array of tasks.
How is Synergitic Property Management different than other property management companies?
Unlike REALTORS®, Florida does not require formal training or additional licensing. At Synergistic Property Management, we have created a curriculum based on decades of experience. Our training focuses on elevating the day-to-day management of the property. We leverage relationships and state-of-the-art software to provide exceptional customer service for property owners and tenants.
How will I know the income potential of a property?
Once you determine a potential property for purchase, your Synergistic Real Estate Agent will assist you in determining the maximum rent and calculating the following financials and profitability:
- Net Operating Income (NOI): Subtract operating expenses (e.g., property management, maintenance, taxes) from gross rental income to calculate NOI. The higher the NOI, the more profitable the property.
- Capitalization Rate (Cap Rate): Divide the NOI by the property’s market value to determine its cap rate. A higher cap rate suggests a better return on investment, though properties with higher cap rates may carry more risk.
- Cash Flow: Calculate the net income after all expenses, including mortgage payments. Positive cash flow means your property generates more revenue than it costs to operate.
- Gross Rental Yield: This metric is calculated by dividing the annual rental income by the property’s purchase price. It offers a quick way to assess a property’s income potential.
Cash-on-Cash Return: This measures the return on the actual cash invested in the property. It’s a useful way to gauge how effectively the investment performs relative to your committed money.
Can my real estate agency be my property manager?
If your agent has gone through our comprehensive training, they are qualified. If not, they can refer you to another member of our team.
Is it common for my Synergistic Real Estate Agent and Property Manager to sell my property when I am ready?
Yes. They understand your property inside and out.
Can I sell my property if it is tenant-occupied?
Yes. There are some challenges with selling an owner occupied home which can be overcome. See our blog post.
Can I buy an investment property and have someone else manage it?
Yes.
