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Thank you for visiting Carney Property Management’s Free Advice section! It is here where we aim to provide informative and educational posts that look inside the world of rental property management.

We make it a point to keep our current rental property clients up to date on current events happening both in the local area as well as nationally and globally that could possibly have an effect on their investments.

We haven’t forgotten about those that seek guidance on renting! We strive to help those that are indecisive about whether they should buy a home or rent and aim to assist them here with tips about renting vs. buying, what they need to know before they rent and so much more!

Cape Coral Property Management

Flood Insurance Not a Priority Among Homeowners

Wednesday, 08 May 2013 12:00 Written by Carney Property Management 0 Comments
house-flood

Flood Insurance Not a Priority Among HomeownersEmergency management planners in Cape Coral have believe that it is not a matter of “if” the city would be impacted by a major hurricane, but rather “when” a storm would arise. In August 2004, the City of Cape Coral first experienced the effects of a major hurricane. Hurricane Charley is the second major hurricane of the 2004 Atlantic hurricane season. It attained a peak intensity 150 mph (240 km/h) winds, making it a strong Category 4 hurricane on the Saffir-Simpson Hurricane Scale. The hurricane lasted from August 9 to August 15. The damaging impact of hurricane Charley left ten deaths in the United States and numerous cases of injuries. NHC estimated property damage in America to be around $15.0 billion.

Despite the effects of the tragic event, many homeowners are not acting upon the importance of flood insurance. On a national scale, only 20% of American homes at risk for floods are covered by this type of insurance. According to research from Bankrate.com and a poll from the Insurance Information Institute, more than four in five Americans know that a standard homeowner’s insurance policy doesn’t include flood protection. Nevertheless, only 13 percent of homeowners have a flood insurance policy in 2012.

Doug Whiteman, insurance analyst with Bankrate.com, said in a news release, “This is a classic ‘do as I say, not as I do’ situation,” Whiteman added, “The vast majority of Americans know the key facts about flood insurance, but they haven’t taken the necessary steps to protect their homes.”

According to the report of news-press.com, The Federal Emergency Management Agency (FEMA) and its National Flood Insurance Program (NFIP) recognize flooding as the country’s No. 1 natural hazard. Whiteman said that homeowners should be familiar with their FEMA flood risk designation and then explore the possible cost and availability of a separate insurance policy.  Regularly, the Federal Emergency Management Agency classifies properties as either high flood or low-to-moderate flood risks.

Since, the sunshine state is not always sunny and that it sometimes experience weather disruptions, it is important to be prepared. In Florida, there are more than 2.1 million flood insurance policies active today. Still, there are households in the sunshine state that remain at risk. With 11 million households in Florida, only 13 percent of the state’s households are covered.

To reduce homeowners’ flood risks, Cape Coral property management experts suggest purchasing a flood insurance policy as most homeowners insurance does not cover floods. Also, it is important that homeowners understand their policy. It would help to conduct a thorough documentation of your belongings. This will help you file your flood insurance claim. Usually, there is a 30-day waiting period before a policy becomes effective. Each year, the flood policy has to be renewed.

If tenants are renting a home they need to remember to get renters insurance to ensure that their belongings are covered in the event something happens to the home they have leased. It’s usually not the responsibility of the landlord to cover the tenant for loss of belongings so it’s in the tenant’s best interest to cover themselves no matter what type of homeowner’s insurance the landlord has for the home itself.  Typically renters insurance for a year of coverage is not terribly expensive and is well worth the peace of mind the coverage will bring the tenant.

New Website Creates Safer Neighborhoods

Friday, 14 December 2012 12:00 Written by Carney Property Management 0 Comments
New Website Creates Safer Neighborhoods

New Website Creates Safer NeighborhoodsIf you will drive through the north end of Cape Coral, you will notice that here are vacant homes because of foreclosures and it can become worrisome especially for the next door neighbors because these abandoned homes can attract looters.

A new website known as Nextdoor would like to take away fear in communities through the use of technology.  In just a couple of mouse clicks, you can know the people living in your neighborhood and even interact with them virtually. You can update each other if there are any suspicious individuals roaming around the neighborhood. In Cape Coral, there are about six neighborhoods that are already using the website and in the state of Florida there are more than 250.

To begin using the website, just draw the boundaries of the neighborhood desired. Once a neighborhood is created, those who are interested to join must first prove that they actually live within the boundaries. They can prove this by confirming through mail or email. Then they can post as much or as little information about yourself online.

The goal of the website is to bring sense of community back. Residents can use the website to improve Cape Coral property management and improve the safety of the community. Connected neighborhoods can use it to organize a garage sale or to find available nannies or pets that are missing. It is like a Facebook, but it is made especially for neighbors.

Local Diners Enjoy Cape Coral Eateries and Bistros

Friday, 30 November 2012 12:00 Written by Carney Property Management 0 Comments
Local Diners Enjoy Cape Coral Eateries and Bistros

Local Diners Enjoy Cape Coral Eateries and BistrosCape Coral, a municipality in Lee County is the eleventh largest in Florida in terms of population. In this “Waterfront Wonderland” more than 154,000 residents live in this part of the county.  The economy in this section is based on local government services, health care, retail and real estate construction. Part of Cape Coral’s property management program is to increase the number of restaurants in the area where people can dine and enjoy local activities.

In the past 18 months, more than a dozen new restaurants have opened East and West along Cape Coral Parkway and its side streets. Pine Island Road, which is home to large format chains like Olive Garden and Outback Steakhouse, has new south Cape restaurants. According to Mike Quaintance, president of the Cape Coral Chamber of Commerce “There are so many places in Fort Myers where people can go, but you don’t have anything like this in the Cape; the kind of food we’re doing, the kinds of cocktails – we’re really just trying to get the people who are going into Fort Myers for this stuff to stay local.” Aside from Pine Island Road, locals and tourists alike can walk across Cape Coral Parkway and enjoy jazz music from Brew Babies. The courtyard is always packed with diners and music enthusiasts. Locals also love Lobster Lady Seafood Market & Bistro, because of their excellent service and scrumptious menu, and people do not mind waiting for a table. It is a sight becoming more common in south Cape Coral.

Restaurant and retail stores owners are motivated to put up their businesses in Cape Coral because the municipality in densely populated and the commercial rent is very low as compared to other areas in Florida. According to Quaintance, “The 33904 and 33914 zip codes, which cover Cape Coral south of Veterans Memorial Parkway, are the most densely populated zip codes in the city”. Based on the website city-data.com, the south Cape area is also home to the city’s wealthiest people. There are households with the median incomes of $88,000, which is more than twice the city’s average.

When it comes to commercial rental space, Gary Tasman, executive director of Cushman & Wakefield Commercial Property Southwest Florida said that the commercial rent in south Cape Coral is approximately 15 percent lower than other comparable parts of Lee County, which includes College Parkway located just over the bridge. Business owners and investors can find monthly lease rates for as low as $2 to $10 per square foot in Cape Coral.

Looming Tree Threatens Rented Home in Cape Coral

Tuesday, 16 October 2012 12:00 Written by Carney Property Management 0 Comments

looming treeA resident in Cape Coral has one looming problem in his home.  The concern that renter is facing is a looming tree that is threatening to fall on his rented home in the city.

Mr. Robert Doerr is mulling over the problem that a branch is hanging precariously on top of his home.  This might fall and cause damage to his home or to other property.  He has also contacted the city’s Code Enforcement is unable to provide him with better news.

When he called the Code Enforcement of the city, he was advised that the local government agency could not take any steps forward unless it has caused any damages or is already on the ground. He is basically concerned with the safety of other people living in the area and no damage.

Since the tree is located in a private property, it would be to Mr. Doerr or his next door neighbor, who would have to take the initiative of cutting down the hanging branch of the tree. Mr. Doerr did exactly just that and contacted the person living in the adjacent home.

He advised the homeowner to have the branches of the tree cut avoid further damages.  However the individual is not interested in taking the initiative of cutting down the tree as.  The neighbor cited that this was not his responsibility.  Mr. Doerr’s neighbor feels that this no longer his problem but the city’s as he (the neighbor) does not want to incur any removal fees.

This case was brought to the attention of a legal expert to review whose responsibility it would be to have the branches or the tree cut.  Based on one lawyer’s advice, it would have to be Mr. Doerr who would have to take the initiative.   Mr. Doerr can cut a portion of the branch so that this would not affect his use of the property.

Yet, Mr. Doerr does not want to take matter into his own hands.  The tenant is fearful that if he has the branches cut, this would bring the whole tree down.  The branches appear to be the only thing that is holding the tree up.  If the whole tree falls down, this might bring further damages not just to his rented home but might also cause injuries to passersby.

For now, it has now become a waiting game for both Mr. Doerr and his neighbor if the tree will ever be cut.

Energy Efficient Cape Coral Housing Complex Creates Savings

Monday, 10 September 2012 12:00 Written by Carney Property Management 0 Comments
Energy Efficient Cape Coral Housing Complex Creates Savings

Energy Efficient Cape Coral Housing Complex Creates SavingsIn most housing complex, both tenants and property owners and managers are finding ways of cutting costs and being able to create some savings.  This has been proven by one complex in Cape Coral where it has become efficient in energy and able to provide its low income renters with savings

The Coconut Cove is one of these complexes in Cape Coral.  It’s located at SE 8th Terrace and near the city hall.

One of the Cove’s tenants, Ms. Esmeralda Tapia, is now a resident at the complex with a unit to call her own.  She was previously living with her daughter for almost a year now.

Some of the energy efficient features of the housing complex are water efficient toilets and solar powered water heaters that save up to 80% in energy cost.   This has been one of the first green rental property found in Cape Coral.

The housing coordinator for the city, Ms. Amy Yearsley, has indicated that it’s the city’s first green rental property that does not only save on energy but is also affordable to tenants. She has also added that this housing complex was funded with $1.2 million in federal grant money.  The city has worked with the Florida Affordable Housing Choice Foundation to be able to create the right type of housing.

As the housing complex has become efficient in energy, it has also created lower rental fees and costs for the complex.

A proof if the complex is energy efficient would be when it has reached a LEED certification.  A platinum LEED certification is the highest confirmation that a building can get upon the economical use of energy.

This is the third building that is able to reach this environmentally friendly status as reported by Ms. Marcia Davis of the Fort Myers Housing Authority.  One is currently in Cape Coral while the other two family homes are in Fort Myers.

All tenants can confirm that their utilities from water to electricity have all gone down when residing in these buildings.  The usual costs for electricity would not reach $40.  With lower bills, the tenants have some extra funds on their hands which they can use for other miscellaneous expenses.

For those who would like to get more information and the requirements for Lee County’s low income housing they can go to its website.  They can also refer to SWFL Affordable Housing Choice Foundation for more details.

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