How Your Arlington Property Management Company Helps you Avoid Scary Landlord Stories

Arlington residential property management

 

A scary landlord tale can be from either the perspective of the tenant or the landlord. Property owners who stay in the business of Arlington residential property management long enough will have stories to tell about interesting tenants and situations. And, tenants with long-term rental experience can have some strange landlord experiences. An internet search of scary landlord stories will bring up stories of property damage, rental maintenance problems, and even landlord home invasions. Even though some situations can’t be predicted or avoided, Specialized is your Arlington property management company that has a few hints on how to avoid the scary rental story whether you are an owner or a tenant.

 

Landlords Should Never Skip the Tenant Screening Step

 

A landlord needs to make careful decisions about who will live in their rental unit. Even though applications can’t have discriminating questions about race, color, religion, or disabilities, a landlord can screen every potential tenant over the age of 18 with a background, employment verification, criminal, rental history, terrorist list, and sex offender list checks. Applicant screening is the best way for landlords to get a better picture of who is wanting to live in their units. Specialized always screens tenants as part of the proven process for their successful Arlington residential property management leasing service.

 

Don’t Forget the Regular Inspection Schedule

 

Once a lease is signed, and tenants have moved in, landlords should still keep in contact with the residents and check on their rental property with regular inspections. Seasonal, maintenance, and simple drive-by inspections give your Arlington property management company opportunity to check on maintenance needs and lease compliance. Your tenants will appreciate a well-kept property as inspections help you take care of problems before repair needs turn into big ugly monsters.

 

Specialized has over thirty years experience with Arlington residential property management. Our expert managers work hard to prevent scary situation with tenants and property problems. There is nothing scary about our business integrity and professional management services that have earned us a 98% customer satisfaction rating. And, don’t be afraid to learn more about our services and what we can do for your individual rental property needs at www.specializedrpm.com

When Does a Landlord Need to Repair Property in Texas?

Fort Worth property management company

 

Texas has multiple laws protecting tenants from dangerous or unreasonable living circumstances due to neglect by their landlords. A Fort Worth property management company should be well-versed in these regulations, so they know when it’s appropriate to delay or refuse repairs on a rental unit and when a lack of response puts them at risk of litigation.

 

What Kinds of Repairs are Required?

 

  • Right to Habitable Housing

Under the legal definition of  “implied warranty of habitability” Texas property owners are required to maintain a livable premise. This means repairs such as a broken furnace or water heater must be addressed or the tenant has a right to “repair and deduct” the charge from rent.

  • Right to Health and Safety

A tenant has a right to repairs for issues that affect the physical health or safety of the tenant. This could include rats, cockroaches, faulty electrical wiring, plumbing issues, and roof leaks. If the Fort Worth property management company refuses to fix issues compromising the health and safety of the tenant, SB 1448 grants the justices of the peace to order the repair for problems not exceeding $10,000.

  • Right to Security

Although there are exceptions, Texas law requires Fort Worth property management companies to equip each unit with proper security devices, including window latches, keyed deadbolts for all outside access doors, sliding door security, and door viewers. If these safety measures are broken or missing, a tenant has a right to have any of these repaired at the landlord’s expense.

 

Can Fort Worth Property Management Refuse to Make Repairs?

 

Yes, IF:

  1. The tenant is behind on rent payments, or
  2. The tenant or a person in connection with the tenant caused the damage

 

What Is the Process for Tenants to Submit a Request?

 

Ultimately, this process can be tailored, but should generally consist of these steps:

  1. The tenant must be fully up on rent payments
  2. The tenant should take pictures of the condition needing repair
  3. The tenant should submit a written request for the repair

Always keep copies of all communications documents. After a repair is requested, a quick response from the landlord on the progress of the repair will help keep relationships between management and tenant positive.

 

A Fort Worth property management company can be at risk of serious fines by not complying with the regulations regarding living conditions and repair needs for their rental homes. Enlisting the help of experts in Texas repair requirements will ensure your property is always safely within regulation. Specialized has over 30 years of experience maintaining rental property and following rental rules and will ensure you are legally protected and your tenants are comfortable in their home.

Learn more about our expertise management services at www.specializedrpm.com

When Landlords Charge Fees in Texas

Arlington rental property management

 

When you are a tenant leasing a home, you have more than just the rent to consider paying. Tenants will have a better leasing experience when they work with an Arlington rental property management company that has clear policies and business integrity. Collecting rent and fees can be a burden to homeowners who also can rely on help from a professional property management. Arlington rental success depends on transparent and ethical communication between tenant and management. Let’s discuss what fees landlords can legally charge their tenants.

 

Security Deposits

 

Security deposits are collected as insurance for any repairs that need to be taken care of when a tenant leaves a unit. Texas does not have any specific amount limit that a landlord needs to follow regarding security deposits. Owners are required to keep a written record of damages and repairs and the amount of the security deposit that were used to make repairs. Security deposits are required by law to be returned to the tenant within 30 days of vacating the property.

 

Pet Fees, Deposits,  or Pet Rent

 

Landlords are finding that allowing pets is an opportunity for a larger applicant pool to choose a tenant from and a way to increase revenue above the basic rent. Some Arlington rental property management companies are choosing to charge a monthly rent in addition to the current rent for any pet that is in the home. Other landlords may charge a refundable pet deposit or a nonrefundable fee to cover any future property damage caused by the animal. Whichever you choose to charge your tenant for having a pet, landlords need to remember never to charge fees for service animals as they are not classified as pets.

 

Other fees from Arlington Property Management

 

Landlords can charge late fees and returned check fees if rent is not paid in full on time. Sadly, some tenant/ landlord relationships wind up in court and then a landlord is allowed to attempt to recover attorney and court fees from the tenant. All charges and fees should be clearly written in the lease and explained at the time of lease signing. When residents and management have different expectations and understanding of money policies, occupants and owner can become involved in costly lease disputes. Conflicts can be avoided with the help of a professional property management company with experience with collecting and knowing the appropriate fees charge.

 

The Arlington property management company that has the experience to help rental property owners with rent collecting and other fees involved with their rental is Specialized. Owners have peace of mind when the finances of their property are handled professionally and with integrity. Tenants feel more secure with their leasing policies when they have transparent communication and an understanding of collecting and fee policies. Learn more about the leading property management in Arlington at www.specializedrpm.com

You Should Hear What our Clients are Saying about our Arlington Property Managers

Arlington property managers

 

Specialized has offered rental property services for over thirty years in the Arlington area. We are proud of what our thousands of happy clients have said about our company and our services. With local expertise, business integrity, and unsurpassed quality services our Arlington property managers are who investors and tenants trust for superior property management.

 

Arlington Property Managers Make a Difference

 

A property manager takes care of tenants, property, and owners. When you look at that combination of responsibility, you can see that the care of people is the greater portion of work. Specialized offers tenants and owners access to a 24/7 live-person hotline for help with any property emergency. Our managers are highly trained to handle the variety of situations that come with managing rental property. We also call Arlington home, so our local expertise and close proximity to your rental property mean we can better serve those needs that come up. Here is what some of our clients have to say about their experience with our Arlington property managers:

 

“Mike in the service department has been very timely in responding to phone calls and email.”

—Shane Z.

 

“I’ve had several property managers in Dallas, and interviewed scores more. Specialized is simply the best around. Love you guys.”

—Jeremy H.

 

We Specialize in Your Peace of Mind

 

Keeping a rental unit maintained and in good repair is an ongoing concern for owners. Tenants also want repairs to be taken care of in as fast a time as possible. Specialized has the proven process that keeps your rental units up to code and well maintained. With seasonal and regular inspections, proactive maintenance, professional remodeling resources, and prompt response to tenant needs, your rental property is carefully taken care of for your peace of mind.

 

“Ty is a great guy who knows maintenance and is very attentive to the needs of the residents. Prompt service and great customer skills equal a successful company who takes care of its client.”

— Jeremy P.

 

Our list of services is comprehensive and can help owners with managing a single rental home, several properties in their portfolio, HOA properties, and multiplex rentals. Our clients benefit from our local expertise and professional services that keep their properties maintained and tenants happy. Our company isn’t diversified to the point that we can’t take care of our main objective. We manage residential rental property, and we do that better than any other Arlington property management company. If you don’t believe what we say, just listen to our clients. Learn more about our incredible services at www.specializedrpm.com

Insurance Property Managers in Fort Worth Can’t Live Without

property managers in Fort Worth

 

Owning rental property means you are daily working with people and their things along with maintaining your property. You want to protect your property from damage while you also protect yourself from liability. Our responsible Fort Worth residential property management at Specialized includes having adequate insurance coverage for your rental investment.  Specialized has the professionalism and ability to offer an insurance plan to investors with an InvestPro Residential policy that has high-coverage at a low-rate even if you have just one rental.

 

What does the Policy Offer?

 

  • Overage— not usually covered under other policies
  • Broad Forms— provides wider protection
  • Replacement Cost— better than the usual “depreciated cost”
  • Ordinance and Law— includes $50K with increased limits possible
  • Sewer and Drains— includes $25K for plumbing backups in all locations with higher limits possible
  • Additional Coverage— including flood and earthquake policies
  • Reliable Support— 24/7 customer service hotline for claims
  • Simple Billing— all policies are included in your monthly management service fee

 

Our policies are written for each individual client to meet specific coverage needs. You don’t need to waste time shopping around for a pre-determined policy that might only fit some of your needs and still cost more than you wanted to pay. We are excited to offer our clients the convenience of a customized insurance policy from InvestPro Residential that can be consolidated for all of your properties. The Fort Worth property managers at Specialized can help you determine what your coverage needs are and find the policy that fits.

 

What does the Policy Cover?

 

With InvestPro Residential, owners get replacement coverage not just coverage with depreciation deductions. A master policy also provides coverage on:

Property Damage

  • Wind, hail, tornadoes
  • Sprinkle water damage
  • Theft and vandalism
  • Lightning caused fire damage
  • even Volcanoes

Liability

  • Assault and battery
  • Pollution, exhaust, carbon monoxide leak
  • Hostile fire/arson

 

Insurance from Your Fort Worth Residential Property Management

 

Rental owners can see that the clear choice for property managers in Fort Worth that can offer a comprehensive list of services, insurance, and business integrity is Specialized. Learn more about your management options at www.specializedrpm.com
Specialized Specialized Property Management is not an insurer or an insurance agent and does not engage in the business of insurance.  InvestPro Residential refers to a master liability and property insurance program issued by one or more top-rated insurance carriers under which clients of Specialized Specialized Property Management can be included as insureds.   The InvestPro Residential master policy is brokered by Swingle Collins & Associates, an independent, licensed Texas insurance agency.  Swingle Collins & Associates is the point of contact for all questions concerning the InvestPro Residential master policy.

 

The descriptions of the InvestPro Residential coverage are brief summaries only and are subject to the provisions, limitations, and exclusions contained in the actual policy and related endorsements. The information on this website is provided for general informational purposes only and does not include all the terms, coverage, exclusions, limitations or conditions that may be contained in the actual insurance policy. The InvestPro Residential policy itself must be read for those details. A sample policy form can be made available upon request to Swingle Collins & Associates.

Monthly Review of Texas Economy

property management in Fort Worth

 

Texas continues to fare better economically than other places around the country. Companies are attracted to the state, so job growth increases. When other parts of the country seem to have hard economic downtrends, Texas stays relatively stable and experiences economic growth. Property management in Fort Worth should carefully watch the economy for indications of when investing in rental property and the demand for housing are changing.

 

Overall Economy

 

Texas has enjoyed a booming economy with businesses moving to the state adding job growth and people wanting to relocate to the Lone Star State. The Texas Leading Index gives an indication of what future direction and changes that might be coming in the business cycle. The Index looks positive because of stable stock prices of Texas companies. Jobs in the state continue to increase, and the unemployment rate is holding below the national average. A stronger dollar makes U.S. exports more expensive for overseas purchasing causing exports from Texas and the U.S. to fall. The decrease in the demand for oil and lower prices also slows down export growth.

 

Housing Prices

 

After a long run of house price increases, this past quarter saw some slowing down in the upward price climb for real estate. The price difference between the listing price and actual sale amount of new homes is widening. The price difference indicates a changes in the upward movement of new housing pricing as prices are starting to level out. Existing home prices are staying steady. However, the Texas Housing Opportunity Index indicates that the affordability of a home to a family with a median income is below the national index. Dallas housing is shown to be less affordable than compared to the rest of the nation where the housing market in Fort Worth shows to be more affordable than the nation. For investors looking to increase their opportunities in property management, Fort Worth would be a good place to start looking for those rental units.

 

Economy and Property Management in Fort Worth

 

Housing sales have also decreased as well as the number of permits issued for new single-family house construction. New housing is more expensive than existing homes. Overall, home prices are slowing down from their past increases.

As businesses and people continue to come to the state, rental owners should have their rental units rent-ready as Texas still has a higher demand for affordable housing than what it has in supply. Specialized is the leading property management in Fort Worth and surrounding areas that can professionally partner with investors for more successful real estate income. Find out how our proven processes can benefit your investment efforts at  www.specializedrpm.com

More information on the Texas economy can be found at www.recenter.tamu.edu/research/the-texas-economy

Buying Rental Property in Plano

property managers Plano

 

Adding a rental property to your portfolio can be a stable income decision with decent returns. You need to consider your goals for your property and make wise decisions to avoid costly mistakes and create a circumstance that fits your needs just like you would with any investment. If you are interested in investment property and property management, Dallas and its surrounding areas are a good place to start your rental portfolio.

 

Texas is a Great Place to Invest

 

When the housing market crashed, some states were hit much harder than others. Texas felt the economic crash like the rest of the country, but just not as bad. And the recovery in Texas has been faster. New jobs and commercial growth are excellent in the Lone Star State. Businesses and people continue to choose to move to Texas. Housing prices are going up, but still are lower than other places around the country. So, you have a large pool of potential tenants waiting to look for comfortable, affordable housing, and you have the property that fit your portfolio ready for your investment. Consider your investment goals, then start looking for the right opportunity.

 

What to Consider in a Rental Home

 

Real estate gurus always talk about location, location, location. Location is certainly important, but with rental property, you have other factors that add to the success of your investment venture. Be sure you look at multiple aspects of rental property before you make your final purchasing decision. Consider:

 

  • Age of the home— Newer homes lease faster. Homes 10 years and newer are your best investment choices.
  • Property size— Tenants appreciate adequate storage space a more traditional floor plan. A rental home doesn’t need to be a mansion, but having enough bedrooms and bathrooms will make a difference in your leasing process. 2,000 sq. ft. is a manageable size that remains cost effective for the investor.
  • Possible rent rate— Even the nicest property in a not so safe neighborhood won’t support a higher rent. Choose the location and the quality of the property together that will then support the rent you desire to ask.

 

For Property Managers, Plano is the Place

 

Plano is the ninth largest community in Texas. It is an ethnically-diverse area with a professional and educated population. With consistent demand for housing in Plano, investors will find the opportunity to lease their property to quality tenants. Properties in the area hold their value and make a great addition to property investment portfolios.
Specialize Specialized offers the most comprehensive property management services in the Dallas area. An investor can trust that their property is well taken care of by expert property managers. Plano is just one of many places in the Dallas-Fort Worth area where we have local experience to help you find your investing success. Put our team to work for you today. www.specializedrpm.com