What is the Statute of Frauds in Texas?

Fort Worth rental property management

The statistics of people renting in today’s world is higher than ever. And, where you might typically think that renters are concentrated in more rural settings, renters are also moving into single family rental units in the suburbs. For property investors and Fort Worth rental property management companies, this means greater opportunities to invest in rental property, and the profitability of that investment is also increasing. The Texas Statute of Fraud dictates when certain contracts need to be made in writing. Understanding the laws around leasing and lease contracts is vitally important for successful rental investing.

Landlord-Tenant Relationship

The basic relationship between a landlord and a tenant is that the owner supplies the rental property and the renter agrees to pay the owner for the right to use the property. Then the basic relationship gets more complex as agreements are made about the details of the renting situation. When a Fort Worth property management company starts to write a lease, it is important to understand the laws involved in leasing. Specialized has an experienced in-house legal team to ensure that all lease agreements follow the laws regulating leasing.

Agreements in Writing

Some people say that an oral agreement is as valid as a written agreement. In a court of law the written agreement will also trump an oral one. According to Texas state law and the Statute of Fraud, a rental agreement or lease is required for a contract lasting longer than a year. Even if you are planning to rent for a short time, a written lease agreement is always a good idea to protect the landlord and tenant. A responsible property management company in Fort Worth, TX will have a written lease in any situation. Clear communication about what is expected between tenant and landlord makes for a smoother renting experience on both sides.

Valid Lease Agreement

A contract or lease is basically an agreement. Specialized, your trusted Fort Worth property management company, knows how to detail a lease to cover all aspect of renting including inspections, rent collection, proper use of property, as well as stated penalties if a lease agreement is broken. And, to keep the agreement legal, the lease needs to be signed by the actual parties that the agreement is being made with.

Buying, selling, and leasing property can be a legally complex business. Mistakes in keeping within the law is costly for your business. Having the leading Fort Worth property management company as your partner gives you the edge you need in the investment property business. With over 25 years of experience, we can guide you through the lease process and ensure that all leases and agreements are written and executed according to the law. Call us today to hear about our full range of property management services. Our proven processes put you on the road to great property investing success. Contact us today!

Largest Fort Worth Property Management Company Looks at the Latest Housing Trends

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Property managers in Fort Worth, TX, are watching the current housing trends in the Dallas-Fort Worth area as the housing supply is showing less than the current demand. People wanting to buy homes are finding that houses on the market are going for more money than the listed price and multiple contract offers are on the table at once. Housing prices are on a steady rise as land and construction costs have had sharp increases.

“The growing Texas economy has made it difficult for homebuyers this year,” said Stefanie Mendoza, Director of Operations at Specialized. “As new residents come into the area with new jobs, they need housing. Moderately priced homes are not easy to find, and sell quickly. Area residents can look to single family rental units as a housing option.”

Property investors offering single family rental houses to residents may see fewer vacancy days as more potential tenants look for comfortable homes during the upcoming busy real estate season. With interest rates staying low for now, this could also be a good time to look at purchasing investment property. Housing prices are predicted to continue to rise. Prices of Dallas/Fort Worth area homes have increased 8.7 percent from 2014 prices, according to a Standard & Poor’s/Case Shiller Home Price Index. Getting into the market before more increases can be a good option for some.

The expert property managers at Specialized can help investment property owners be successful in their investment if they choose to add to their property portfolios. “At Specialized, our goal is that property owners make the most from their investment and that tenants feel at home in their neighborhoods, in any housing market,” said Mendoza.

About Specialized

Specialized offers 25 years of experience as the leading property managers in Fort Worth, TX, and provides high level real estate investment property management strategies to thousands of clients. For more information visit (www.specializedrpm.com)

Keeping Peace with the Neighbors

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Our communities are full of people living pretty close to each other. We all come from different backgrounds, have different hobbies, and different ways of doing things. Fort Worth property managers know that with all these differences, problems can easily arise and make our neighborhoods not so neighborly anymore. Loud cars, blocked views, trash problems, noisy pets, or curious children can cause conflicts between the best of neighbors.

Here are a few suggestions to help keep your neighborhood as friendly and neighborly as possible.

Know Your Neighbors

If you think about the people in your neighborhood, or even just those who live immediately around you, how neighborly is your neighborhood? According to a Pew Research survey in 2010, the majority of American adults only know some or none of their neighbors’ names. Statistics also show that most of us only trust half our neighbors. Getting to know your neighbors, more than just their names, can help with any future conflict resolution. Find out about professions, names of children, and common interests. Closer relationships will be friendlier and more helpful in the long run.

Try the Friendly Approach First

Even with the closest neighbors, conflict can still arise. Before you start with threatening shouts, try a friendly request first. Fort Worth property management companies know the number one cause of neighborhood conflict is unwanted noise. Diplomacy can help take care of neighborly problems. Courteous requests that aren’t overly demanding can bring back the neighborhood peace again. If diplomacy doesn’t work, a neutral, third party can try mediation with the problem.

Final Conflict Solutions

If diplomacy and mediation just aren’t making a difference with neighborhood conflicts, residents can take their problems to court. At this point, you have no control over the outcome. A judge listens and makes the final decision. And, remember that going to court is never a cheap solution. Sadly, the ultimate problem fix is moving.

Neighborhood wars have made it into the news as conflict is human nature. Hopefully, with diplomacy or with the help of your Fort Worth property managers, your neighborhood conflicts can be resolved quickly, keeping you happy in a peaceful neighborhood.

The experts at Specialized understand that conflicts in neighborhoods can happen. Let us use our experienced training to help resolve your rental property neighborhood issues. Call us today to hear about our full range of rental property services. Our proven process will bring more success to your rental property investment.

Find us at (www.specializedrpm.com)

Texas Economy and Property Management in Fort Worth, TX

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Even with a slow growing global economy and low oil prices, the Texas economy is still seeing a steady growth trend. The Real Estate Center, in the Monthly Review of the Texas Economy, reported that March 2016 was the third consecutive month Texas experienced an employment growth rate better than the annual growth rate in December 2015. The economy and the housing market always affect each other. How is the current economics of Texas affecting the housing market? As the leading rental property management company in Fort Worth, TX, Specialized keeps up on the housing trends to benefit property investors with management needs in any economy.


Outlook for Texas

The oil crash of 2015 hit Texas hard. But, Texas has been showing a steady economical upward trend. The seasonal adjusted unemployment rate fell in March as Texas metro areas showed more jobs in March 2016 than they did in March 2015. The economy is slowly recovering, jobs are being created, and the housing market is also showing growth.


Housing Trends For Texas

Housing demands are picking up this year along with the increase of available jobs. Statewide housing sales grew 5.8 percent; showing the highest rate since July 2015. Even though the overall sales growth is lagging behind the national rate, Texas housing sales are picking up. The issue with housing is that with the steady increase in demand, there is also a shortage of supply. People trying to find houses available, especially in the more moderate price ranges, are having a harder time finding homes. Buyers are quickly outbid or homes are only listed on the market for a short period of time before they are sold. Texas home prices are actually increasing at a faster rate than home prices on the national index.


What This Means to Property Investors

Rental property investors watch the housing markets and economical trends to know when to buy, sell, or hold on to their investment properties. With constraints on the housing supply, an investor offering rental housing may be just what some home buyers need. With interest rates still low, and housing prices starting to rise, now may be a good time to increase your rental property holdings. With expert help from a professional property management company in Fort Worth, TX, you can grow your rental property portfolio without stress or hassle. The other side of the current housing trend could also mean now is a good time to sell properties while it’s a hot seller’s market.


For more information on the Texas Economical Report visit https://www.recenter.tamu.edu/


Whether buying or selling, investing in rental property is made easy when you partner with Specialized Property Management. Call the leading Fort Worth rental property management company today and let us show you how we help make your rental property investment a greater success.