How You Can Avoid Expensive Regulatory Violations

Arlington property management company, Arlington residential property management

Not knowing local, state, or federal housing laws is an unfortunate, but common, mistake that many landlords make. Being unaware of potential regulatory violations as a landlord can mean serious legal troubles and expenses. You are not only putting yourself at risk for legal ramifications, you may also be putting your property and your tenants at risk. Specialized, your Arlington property management company, knows these laws can be a lot to remember, especially for new landlords. Navigating the system of rental property regulations can be difficult, but it is necessary to protect yourself, your tenants, and your property.

Specialized Recommends Knowing These Laws

We put together this list of important laws, codes, regulations, and general rules to follow as a landlord. Know that the local laws vary widely and change often, so this list is just an example of some of the things you need to be aware of. For more information on your specific area call Specialized, your local Arlington residential property management team.

  1. Your state property laws
  2. Local city ordinances
  3. Real estate contract law
  4. The Fair Housing Act, ADA, and tenant screening regulations
  5. Laws on security deposits, monthly payments, collections, and evictions
  6. Maintenance and property inspection regulations

How Your Arlington Residential Property Management Team Can Help

With the dozens of laws and codes you need to know, how can you be sure you remember them all and that you’re protected from legal and financial risks? Specialized’s property managers are the experts you need. We help thousands of property owners around the country stay on top of the ever changing laws, ordinances, and regulations. That is our job! More importantly, our local property managers are experts in your area’s specific local laws as well as the state and national laws. You can rest easy knowing your Arlington property management company has you covered. Call Specialized today to hear about all our property management services.

Rent Collection: How Can Arlington Rental Property Management Help?

On the surface rent collection sounds easy. Your tenant mails or turns in a check to you once a month, you deposit the check, the check clears, and you’re good until the next month. Except, as almost every landlord learns eventually, it isn’t quite that easy. Checks bounce, tenants are late or don’t pay, and eventually you find yourself with legal problems and an eviction. This process can feel like you are underwater if you are unfamiliar with it. That is where Specialized’s property management Arlington experts can help.

Specialized on Rent Collection Processes

One of the most important things you can do to protect yourself and your tenants is have clear and upfront communication about your rent collection processes. Set expectations with your tenants when they sign the lease about what the rent collection process will be and what will happen if they fail to pay. Making it easy for your tenants by offering incentives and electronic payment options will help ensure rent is paid on time. If an eviction becomes necessary be sure you are up to date on the process and move as quickly as possible. Many facets of evictions are time sensitive and expensive, so you should consider partnering with an experienced Arlington rental property management company to keep things moving.

Rental Success with Arlington Rental Property Management

A successful investment property depends on successful rent collection. Inexperienced investors can run into trouble quickly without proper rent collection processes. Consider hiring property managers to keep the process under control and keep communication open between you and your tenants. With almost 30 years in the business Specialized is the property management Arlington landlords turn to for help with their rental properties. To hear about all our services call Specialized today.

Why Arlington Property Managers Recommend Proactive Maintenance

Arlington Property management, Arlington property managers

One of the wisest decisions you can make as a landlord is if and when you need to do repairs. Maintenance, whether regular or emergency, can be a big cost and eat into your profits. But many times ignoring needed maintenance or skimping on it will lead to even bigger costs down the road. Your Specialized Arlington property management company has these tips for landlords who are looking at maintenance issues.

Your Job as a Landlord

Your most important job as a landlord is to keep your tenants happy. Happy tenants means less turnover and a better return on your investment. Ignoring much needed maintenance signals to your tenants that you don’t care about them or your property. Here are a few tips to help you with these relationships as they relate to maintenance.

  1. Respond quickly and respectfully to your tenants maintenance requests.
  2. Do not let tenants take care of maintenance on their own. This can lead to issues of liability as well as quality. Develop relationships with vendors so you always have someone you trust to perform needed maintenance.
  3. Make sure you are in compliance with all regulations to insure the health and safety of your tenants.
  4. Maintain a regular schedule of inspections and proactive maintenance, which will save you money on costly repairs due to neglect. Your Arlington  property management company can help you create and stay on a schedule and communicate the schedule to your tenants.

Be The Landlord You Would Want!

Think about your rental from your tenants perspective. This is the house they call home.  Shouldn’t it be taken care of? Maintenance can be expensive and time-consuming, but it is one of the biggest factors when tenants are deciding to stay or leave at the end of their lease. Was the landlord responsive to their needs? Are the systems and appliances in dire need of repair? Turnover and vacancies will cost you much more than fixing that broken pipe. If you need help with proactive maintenance, tenant interactions, or anything else with your investment property call the industry leading Arlington property managers, Specialized!

Taking the Emotions Out of Your Investment

Fort Worth residential property management, property managers in Fort Worth

Property managers in Fort Worth know transitioning a house from your personal home to an investment property can take some adjustment. Tenants don’t often treat a rental home with the same care as a homeowner, which is difficult for many homeowners to observe. The truth of the matter is that your home is no longer your home, it is a business investment. Like all business investments, you need to treat your rental home objectively, not emotionally.

How Your Emotions Affect Your Tenants

Negative tenant interactions can arise when landlords feel too emotionally attached to their properties. When a tenant fails to maintain the property to the landlord’s standards it can cause tensions. The landlord may feel angry or wronged. These emotions are often what lead to negative interactions and tenants deciding to leave when their lease ends. Treating your property like a business venture is something your Fort Worth residential property management company can help with.

Tips From Property Managers In Fort Worth

If you are having trouble separating your feelings from your new business venture, we are here to help. First, you need to see yourself as a business owner instead of a homeowner. Second, understand that normal wear and tear happens to every home and details you may have personally kept up (such as landscaping) may not be important to the next residents. Don’t expect everything to be kept up exactly the same as when you lived there. Finally, if you plan to move back into the home in the future be sure you don’t let that cloud your judgement. Your investment needs to be treated as such until the day you move back in.

An experienced and professional Fort Worth residential property management company like Specialized can help you with this difficult transition. The better interactions you or your property managers have with your tenants the more likely those tenants are to take care of your home and stay for an extended period of time. Call us today to learn about all the services we offer.

The Top Fort Worth Property Management Company Recommends Rigorous Tenant Screening

Ft Worth Property management, Fort Worth property management company

Tenant screening is a corner that many landlords feel they can cut. It makes sense to think “this person seems nice enough, they have a job, what could go wrong?” And it is certainly true that the faster you place a tenant in your rental home the faster you might see the rent checks coming in. But at Specialized, we know the dangers of careless tenant screening. We are here to remind you just how important it is, and how you can go about screening potential tenants.

Why Screen Tenants?

When you place a tenant in your rental home you are trusting them to make their rent payments, but how do you know if you can trust the applicants? While it is true that there may be unforeseen circumstances for even the best tenants, you can be sure to save a lot of headaches by thoroughly screening your applicants.  A careful screening of their background, credit, and rental history can give you peace of mind that you are leasing to someone who will take care of your home and has a record of trustworthiness. That is why the top Fort Worth property management company recommends screening every applicant before they sign a lease.

How to screen potential tenants

Screening potential tenants includes:

  • Requiring an application for tenants over 18 years old.
  • Verifying combined tenant income that is at least three times the rental rate.
  • Avoiding tenants with evictions and judgments, and asking for an explanation of late or unpaid payments.
  • Verify past two years of rental history and make contact with previous landlords to ask if there was any major damage while the applicant lived there.
  • Comply with all anti-discrimination laws and fair credit reporting act during the screening process.

Your Specialized Team’s Ft Worth property management can help you expedite these processes so you can place a quality tenant as soon as possible. Give our office a call today to learn more about all our services.

The top property management in Fort Worth recommends getting your home rent-ready before showing

Property management Ft Worth, Property management in Fort Worth

Making improvements to your rental property in between tenants is a great idea. Your rental needs to be functional and clean before any new tenants move in, and it is a good time to tackle bigger projects that might be difficult to do while tenants are living in the space. But what about showing the property while you are still making it ready for new tenants? Your Specialized Team knows that is a risky idea.

Why your home needs to be rent ready before listing

Potential tenants often have a difficult time picturing themselves in the home if the space is dirty or there is construction debris in the way. Your home will attract the most attention immediately after listing, so making sure the home is ready before listing will ensure you get the best kind of attention. An attractive, move-in ready property will be easier to rent out to reliable and qualified tenants.

The Property Management Ft Worth landlords trust can help you!

Here are a few recommendations from Specialized’s expert property managers.

  1. Call Specialized for a free rent-ready checklist so you don’t let anything fall through the cracks when you are preparing your property for tenants.
  2. Make cost-effective repairs by thinking long-term. Not skimping on repairs may save you money down the road. A bigger cost up front may mean less time and money spent in the future repairing or replacing a broken system.
  3. Get the opinion of multiple property management Ft Worth experts before you list. These extra sets of eyes will be able to point out anything that needs attention in the way a tenant might look at the property.
  4. Show your property only after the previous tenant has moved out. Not only is this less frustrating for your current tenant, it will be easier for you to show the house when no one is living there. In addition, you won’t have to worry about the property being dirty or having a weird smell.

When you need help getting your property rent-ready don’t hesitate to call the experts at Specialized. Give us a call today to hear about all our services.

How Poor Rental Property Selection Affects Your Profits

rental property management Fort Worth, Fort Worth rental property management

Not all rental homes are created equal. Some are much easier to rent out than others, but how do you choose the right one? Which home will have the shortest vacancy time and bring in a wide variety of eligible applicants? Your rental property management Fort Worth office will have the expertise you need to buy in that specific market, but in the meantime here are a few general ways to pick out the best rental property.

Fort Worth rental property management recommends…

  1. Location, location, location! Where is your property located? Are there good schools, easy access to public transportation, and excellent local amenities? Would YOU want to live there? Safety and amenities are big issues for potential renters.
  2. Municipal regulations make a difference! Managing a property in an area that has heavy regulations can create a significant burden and may not be worth the cost. Check the local regulations before you buy so you know what you are getting into.
  3. HOA rules and fees can be surprising! Don’t be caught off guard by HOA regulations. Some associations even require input on your tenant selection, which could create a delay in renting out your home. Know the rules before you commit to an investment property.
  4. Local rental markets vary! Look for a neighborhood with low vacancy rates, high rent prices, and appreciating home values. Your Specialized Fort Worth rental property management team can help you pull all these statistics.
  5. Buy an attractive home! Stay away from weird layouts, busy streets, and older or smaller homes. Long term, single-family rental homes are easier to rent out if they have 3 or more bedrooms, are over 1000 sq. ft., and have fenced-in yards. Maintenance will be easier and cheaper if the home is less than 15 years old.

Specialized’s Rental Property Management: Fort Worth Experts in Property Selection

When you are ready to purchase an investment property make sure you consult the experts in property selection. With almost 30 years of experience Specialized has what it takes to make your investment a success. Call us today to learn about all the services we offer!