Why Hire Richland Hills Property Management

North Richland Hills is a gorgeous, high-end suburb of Fort Worth filled with quaint coffee shops and plenty of green parks. Just a quick drive to downtown Fort Worth, North Richland Hills is home to many families and young professionals. It was described as one of the best places to live in Texas with highly-rated public schools and a coveted suburban feel. Our team at Specialized Property Management in Fort Worth are local experts on the Fort Worth area, including North Richland Hills. We’ll help you discover what this city has to offer and why it may be the perfect place for your next real estate investment. Already invested? Keep reading to see how property management in Fort Worth can help you make the most of your investment and gain the highest profit. 

Things to Do in North Richland Hills

You and your family will never run out of things to do in this beautiful city with so many activities available and sights to see from water parks to museums, and more. There is truly something for everyone in and around this family-friendly place. Once you’ve invested in the area, a Richland Hills property management company like Specialized Fort Worth can market your property for you, highlighting all the wonderful aspects of North Richland Hills to reliable applicants. Just some of the main attractions you won’t want to miss out on are: 

  • NRH20 Water Park – 17 acres of water-filled fun, including water slides, lagoons, rivers, and splash pads for all ages. 
  • ITz Euless – You won’t want to go anywhere else on a weekend because the games, bowling, bumper cars, laser tag and more are here.
  • Stockyards Station – You’ll feel like a true Texan with all the cowboy and cowgirl activities like pony rides, horseback riding, and a petting zoo. 
  • River Legacy Living Science Center – Try not to get lost in this huge nature center that includes trails, aquariums, and interactive exhibits. 
  • Planetarium at UT Arlington – Live stargazing is just one of the amazing programs offered here. 
  • Fort Worth Botanical Gardens – This family-friendly area has gardens that full of plants, flowers, and beautiful botany to admire and interact with. 
  • Summit Rock Climbing – Enroll in private or group lessons and learn how to boulder or rock climb, or just come have fun climbing with the family. 
  • Fort Worth Zoo –The oldest zoo in the state, we have all the animals, exhibits, and learning opportunities a kid could want. 

Investing in North Richland Hills Property

This city is the perfect place to own and manage a rental home because it’s a short 30-minute drive to Dallas and only 13 minutes to downtown Fort Worth. The reason it’s so popular right now among families and young professionals is that it’s truly the perfect location, allowing you to live outside the city while easily being able to go downtown for work or pleasure anytime you please. If you’ve been looking to buy a home as a rental investment, you’ve probably been searching on websites similar to Zillow to find the best rental properties. This tactic, along with reaching out to property management in Fort Worth that can help you narrow down your search are great ways to see what’s out there. Recently, Zillow reported data that said the average rents all across the country are at an all-time high of 29.1% of a tenant’s income. Just a couple of decades ago, rent was only 25.8% of a tenant’s monthly income. Some places are higher and some lower, but in the North Richland Hills area, rent matches the national average of about 30% of a tenant’s income. This means that the time to invest is now. Most people who are in the real estate market, especially millennials, would rather rent than buy regardless of the cost of rent and they’re willing to put 30% of their monthly income into their rent payment. This means a lower chance of vacancies for you and a higher chance of steady cash flow. 

Rental Rates in North Richland Hills 

It can be difficult to decide on a price to charge for rent since rental rates range from city to city, and even within one place they can range a lot, depending on things like location, unit quality, and amenities. Let the experts at Specialized Property Management in Fort Worth be the ones to advise you on what rents are going for, how much tenants are willing to pay, and how your particular property compares. According to RentCafe, in North Richland Hills, rental rates range from about $700-$1500 per month, with the average rent rate right at $1110 per month. This is lower than the average rental rates in Dallas, Fort Worth, Keller, Euless, and Austin and significantly lower than the average national rental rate. This is another reason why North Richland Hills is an ideal investment location. Not only is it a great spot to live location-wise, there is also plenty to do and see, and it’s also affordable for families and young professionals that want to live there. With the current seller’s market, rise in millennials wanting to rent, Fort Worth job growth, and low interest rates, North Richland Hills is one of the best markets for real estate investment. 

Why Hire a Richland Hills Property Management Company

When thinking about investing in real estate, consider the benefits of hiring a property management company to help you protect and make the most of your investment. With rents rising along both the East and West coast, many people are relocating to the Fort Worth area and looking for affordable homes to rent. That’s another reason why investing in property in North Richland Hills is the way to go. But how will you market your property? And how will you know which tenants to trust? Hiring a Richland Hills property management company like Specialized Fort Worth is what you’ll need to ensure that you have a team of professionals ready and willing to help you in all aspects of owning and renting out your property. We’ll help you set a competitive, yet fair, rental rate for tenants, screen them effectively, conduct virtual showings, and more.

“Specialized Property Management’s reporting and accountability are excellent. I have been impressed with the courteous, professional and efficient manner in which the affairs of my properties have been conducted. I recommend Specialized as an agent for handling rental properties.”  – William M., owner

Why Choose SPecialized Property Management in Fort Worth

With Specialized Property Management, you’ll save time, stress, and money. We take care of the daily ins and outs of owning a property and being a landlord so you don’t have to do it. We provide local insights into market trends and tenant needs to help you purchase the right property. We also know how to prepare your place so it has ‘curb appeal.’ Once we attract a pool of well-qualified applicants, we screen them like no other. You get the best of the best tenants with the highest potential and lowest risk. We collect the rent, take tenant phone calls at 2 a.m. in the morning, and ensure your property gets regular inspections and maintenance. You watch it all from the comfort of your home or office on our 24/7 owner portal where we post pictures, updates, and messages so all you have to do is breathe easy. 

Fort Worth Property Management Process
  • Higher Customer Satisfaction: To be honest, property managers have a lot of people to keep happy in addition to the landlord. Think about the tenants, the neighborhood, the HOA, the community, and the city, county, state, and federal government just to name a few. We discovered the best way to meet your needs is to meet everyone else’s as well. So we provide excellent customer service to everyone on your contact list so you reap the financial rewards of happy tenants, neighbors, and government agencies.
  • Unsurpassed Experience in Richland Hills Property Management: Companies like Specialized Property Management know property management. North Richland Hills-style property management, however, is perhaps a better way of putting it. We live here and work here too, so we know the school districts, the shopping and entertainment options, the public transportation systems, and preferred public spaces. We know the rental markets and study tenant behavior and trends. And we know how to advertise your property to North Richland Hills renters, so they’ll respond.
  • Better Tenant Selection: Not all tenants are created equally. The goal is to find those who have the highest potential to pay with the least amount of concerns about past behavior that may cause problems for you in the future. Our rigorous background check and screening process do the trick.
  • Shorter Vacancies: Don’t panic. We have a plan to shorten the length of vacancies in your rental. We advertise aggressively and strategically, respond quickly to applicants, show your property at convenient times, and streamline the screening process so the most qualified applicant can sign the lease as quickly as possible.
  • Cost-Effective Maintenance: These two words may seem to contradict each other. Can maintenance ever be cost-effective? If you partner with Specialized Fort Worth Property Management, then the answer is yes. We negotiate discounts on parts and labor then pass on the savings to you. That’s one of the many benefits of professional property management. North Richland Hills landlords also appreciate our routine maintenance plans and inspection schedules.

Join the thousands of satisfied property management owners who trust the experts at Specialized Property Management in Fort Worth. While it is possible to make a profit with your rental properties on your own, you are most likely going to make more of a profit when you have a Richland Hills property management company working for you. Why? These people are experts in the field of real estate and know how to make rental properties perform best. When you own rental properties and try to take the place of professional property management in Fort Worth, you are risking your business’s financial security. A great property management company that you can rely on is easily the best thing you can have when you invest in real estate. As you begin your research, you’ll see that there are many options out there. Depend on Specialized Property Management, who offer all of the services described above and have a 98% customer satisfaction rate. We can help you with any rental property ownership task. We’re confident that we can help you decrease the stress in your life, save time and money, and increase your passive income. Contact Specialized Property Management today and learn how to get started. 

Advantages of Using a Property Management Company’s Technology

If you’re reading this article, you’re probably doing so from your computer, phone, or tablet, and out of those three devices, two are most likely nearby, within reach, if not all of them. Technology has developed and improved at a rapid pace in the last decade and continues to get better. Meanwhile, people rely on technology more and more every day, using apps for everything from alarm clocks to international conferences and letting the internet dictate where they eat, how they travel, and where their attention goes at any given moment during the day. 

According to the Pew Research Center, “Smartphone ownership is especially high among younger Americans, as well as those with relatively high income and education levels.” 

When you invest in and own a property, it’s important that you hire a Specialized Fort Worth property manager that understands how to market to a tech-driven world and use technology to help you be more efficient, effective, and profitable. Continue reading to learn about the advantages of using a property management company and the ways that Specialized Fort Worth Property Management uses technology and its various methods of communication to help property owners like you succeed.

Communication Through Technology

Every good relationship has to have good communication for it to work properly, and the same goes for tenant-owner relationships as well as owner-property manager and tenant-property manager relationships. The best way to go about it is to set clear expectations and boundaries from the start. Knowing whether you should email, text, or talk in person is something you or your Fort Worth property manager should discuss with your tenant before they even sign their lease. Specialized Fort Worth Property Management can advise you on how to properly execute your meaning through various forms of communication. 

Communicating Through Email

Good communication can be the difference between an effective tenant-owner relationship and a non-effective one. Though there are a variety of quick and easy ways to let your tenant know about an issue or vice versa, everyone has their personal preference. The Radicati Group discovered that 86% of professionals put email as their favorite way to communicate. In fact, there are 3.7 billion email accounts worldwide, and 269 billion emails sent per day. Email is quick, straightforward, and easy to revise before sending. It’s also a great way to send attachments and keep a record of communication back and forth between you and your tenants. Just remember to ask tenants if they prefer email, texting, phone calls, social media messaging, or something else and set expectations for when you will be giving them notice of a property inspection, visit, or repair. 

Let them know that there may be certain times that you won’t be reachable, but your Fort Worth property manager will be, and through which methods of communication. Keep subject matters as professional as possible and respect your tenant’s privacy. Once clear expectations are met, you should be able to communicate effectively and efficiently, all while using technology to your advantage. The advantage of using a property management company like Specialized Fort Worth is that we will set expectations and be available to communicate clearly with tenants 24/7. It will be our job, not yours, to handle everything tenant related and we’ll be in charge of deciding, with your tenants, the what, when, how, and why’s of communication.

Communicating Through Texting

If your tenant tells you or your Fort Worth property manager that they prefer texting over email, which is very likely in today’s smart-phone driven world, you may be excited – it’s the fastest and easiest way to get your message to someone. Or, it might make you nervous. Texting can create misinterpreted meanings and feel casual and unprofessional. 

Some of the pros of texting your tenants are: 

  • Texting is very convenient. You can text wherever and whenever you want, and you don’t have to worry about background noise.
  • It’s extremely quick.
  • You don’t have to spend time on small talk; you can be straightforward
  • You can answer texts on your own time. If your tenant sends an angry text, you can think about your response and be professional when you’re ready

And some of the cons of texting your tenants include: 

  • Texting eliminates the tone of voice and certain messages can be misread.
  • Text messages can be easily lost or deleted. 
  • Some people don’t use their phone all the time and may not see your message until it’s too late.
  • There is no Federal Rule of Evidence that specifically states that a text is acceptable as evidence in court. While Rule 1001 says that a “‘writing’ consists of letters, words, numbers, or their equivalent set down in any form,” a judge can interpret that in any way that they want to. If you’re involved in an eviction case, and the only proof you have of written communication between you and your tenant is text messages, you might find yourself out of luck.

You or your Fort Worth property manager should include a section of the lease agreement where the tenant can acknowledge that they give permission for you to text them and vice versa. In this section, be clear about what kinds of information you’ll be texting and include what kind of information the tenant may text to you. 

Communicating the Old Fashioned Way

Some people believe that because technology is everywhere, it can be a sign of both professionalism and sincerity to send a handwritten note. It’s a great way to send a welcome letter or a thank you note, and most people consider it both a kind and professional gesture. Keep in mind that written notices, which are usually typed up letters sent by mail, are another way to communicate more serious matters. In some cases, written notices are the only way to communicate in order to protect yourself and your investment property. For example, if there is a case of a late rent payment, eviction, or notifications of move out dates and times, a written notice is necessary. The best Fort Worth property managers know that keeping all records of your communication with tenants in a safe location is crucial to your success as an owner.

Online Portals

Specialized Fort Worth property managers believe in making things simple and easy for owners and tenants. That’s why our website has an owner portal and a tenant portal where things like rent collection, rent payment, online applications, tenant screening, maintenance requests, and more can take place in an efficient and effective way. Our online portal makes life easier for everyone; saving you, your tenants, and us time, money, and stress. Our technology-driven processes are not just one of the advantages of using a property management company, it’s what sets Specialized Property Management apart from the rest. 

Electronic Showings

Specialized Fort Worth property managers understand how seriously harmful vacancies can be to your business. That’s why we have worked hard to ensure that we do everything we can to avoid vacancies and effectively market your property for you. One way we do that is through electronic showings, or virtual walk-throughs. Instead of spending days trying to schedule a time for tenants to meet with an agent and then losing the interest of tenants because of the hassle, we have come up with a solution that will help increase your bottom line through fewer vacancies. Our process goes like this: 

  1. An applicant sees your property listed online and wants to view it.
  2. The applicant completes an online request and provides a credit card as a security measure.
  3. A Specialized Fort Worth property manager prescreens the applicant and provides a code to access the property during a short, predetermined time. 

If the applicant just wants to view your property online, we offer virtual tours as well. Either way, we are ensuring that prospective tenants don’t lose interest just because it’s too long of a process to see your property. Every applicant is a potential tenant, and the more information we can provide them with right away, the more likely they will be to turn into actual tenants who are paying rent and creating steady income for you. 

The Advantages of Using a Property Management Company

Specialized Fort Worth Property Management is considered one of the best property management companies in Fort Worth because we have over 30 years of knowledge and experience to help your investment succeed, as well as the technological processes outlined above. When communicating with your tenant, remember:

  • To set clear expectations at lease signing for acceptable means of communication 
  • Keep texts and emails straightforward and professional
  • Draw up necessary written documents and save them in a safe place
  • Sometimes a face-to-face conversation is necessary and important

Let our team of experts at Specialized Fort Worth be the ones to handle all of the important aspects of managing your property with our technology-driven systems. We’ll communicate clearly and professionally with tenants and make showing properties, screening tenants, and collecting rent a breeze with our proven processes. You’ll no longer have to worry about unnecessary vacancies with Specialized Fort Worth property managers in your corner. Contact us today to learn more about what we can offer you.

Millennials are Changing Real Estate Rental Trends

“WELCOME TO THE FUTURE,” 2020 seemed to shout as it arrived, full of promise and enthusiasm. A new year, a new decade, and a fresh start. But what does it mean for real estate rental trends? We’ve already seen an increase in people choosing to rent rather than buy over the past decade. Now, millennials are the largest generation living on the earth and since they’re all around their 30s, they want to start settling down with their families. However, many millennials are not able to afford the current home prices or simply don’t want to buy. 

According to millionacres, “Interest rates have fallen in the past year [and] mortgage rates are expected to remain at historic lows for a while . . . Even with rates below 4%, it can be tough for some buyers to purchase a home. Many first-time homebuyers are burdened by student loans and have had difficulty saving up for a down payment.” 

Millennials are affecting real estate rental trends but if you’re a rental property owner, that’s a good thing. Learn how they’re changing the rental market in your favor, what you should do about it, and how Specialized property managers in Fort Worth can help. 

Who are Millennials? 

Millennials are the 30-somethings born in the ’80s and ’90s that are now the largest generation currently living on earth. They’re changing jobs frequently, posting constantly to social media, and relying on their phones for just about everything. They’re also traveling the world, standing up for what they believe in, and creating real change. Unfortunately, this change sometimes requires a lot of student debt and some assume that because of their debt, buying a house isn’t an option. Though this isn’t always the case, they also don’t want the responsibilities that come with owning a home. They’d rather focus on planning their next trip around the world than think about saving for home repairs. This means that millennials are choosing to rent instead of buy, and since there are so many of them, real estate rental trends are changing in a positive direction.

Millennials are Changing the Rental Market

Millennials, recently labeled as “Generation Rent,” may get a bad rap for being irresponsible or apathetic, but the truth is, they know what they want. It’s just not the mortgage and white picket fence that everyone else wanted for the last fifty years. This is great news for rental property owners because it means that rent rates are rising and their income flow is steadier than ever. It’s also a good time for investors to buy and take advantage of low interest rates. Property managers in Fort Worth like Specialized Property Management can help you know what type of properties to invest in, how to best market to millennials, and how to effectively manage your property. Staying on top of real estate rental trends is the only way to succeed in the current market, and trusting expert property managers like Specialized Fort Worth is a wise choice. 

What Millennials Want 

Millennials are changing real estate rental trends so it’s up to you as a property owner to change your marketing strategy. It’s easy to market to millennials once you understand what they want. Since they grew up in an age of rapidly changing technology and instant gratification, they are a generation of “I want it now”. Rather than go without in order to start a family early or buy a home, millennials are all about experiencing travel, career changes, and freedom for as long as possible, counting on families and stability to come later, but also as soon as they’re ready. Because they don’t want to be tied down by anything, renting is their number one choice. 

Pew Research shows that “Millennial households dominate the ranks of the nation’s renters. Last year, Millennials headed 18.4 million of the estimated 45.9 million households that rent their home.”  

Why Millennials Love Single-Family Homes

Perhaps it’s because millennials watched their parents lose their homes in the 2008 real estate market crash, or maybe they are just burdened with too much debt, but either way, the result is that they are not wanting to purchase a home, or at least prefer to put it off for the time being. Whatever their reasons for not buying property, millennials still desire the lifestyle of a home rather than an apartment. That’s why single-family rental homes are the perfect answer and they’re recently in high demand. Amenities like a backyard, safe neighborhood, privacy, and more space overall are some reasons people choose a single-family home to rent. Specialized property managers in Fort Worth are experts in the single-family home rental market and can help property owners manage them effectively. 

According to Norada’s 2020 real estate forecast, “Following the housing market decline in 2007, single-family rental properties became favorable options for investors, saving in construction or refurbishment prices. The quick turnaround for an owner to rent out their property means cash flow is almost immediate. Single-family rental homes have grown up to 30% within the last three years. Almost all the housing demand in the US in recent years has been filled by single-family rental units”

How to Market to Millennials

Most millennials love the idea of a single-family rental and have a clear idea of what they want it to provide for them. Most are also willing to pay more for rent in order to obtain their desired lifestyle. Some main things they may be looking for are:

  • Proximity to job
  • Flexible lease 
  • Storage space
  • Internet speed
  • Good schools
  • Amenities: pool, gym, or park nearby
  • Safe and friendly neighborhood
  • “Smart home” features
  • Washer and dryer in unit
  • Kitchen upgrades
  • Fenced yard/pet-friendly
  • Covered parking spaces

Consulting Specialized property managers in Fort Worth is a good idea for learning how to add these amenities to your property and market it well to millennials. They’ll also help you put together a lease that benefits both you and your millennial renters. This list of demands may seem like high standards for a tenant who may move out at a moment’s notice, but studies show that though millennials appreciate flexibility, they’re not flaky. 

According to a recent national renters survey, renters are committing to their rental properties long-term. The survey shows the percentage of single-family home property renters committing to their rental properties for more than 5 years is 22%, 3-5 years is 14% and those expecting to commit for at least two years is 59%. These figures show on average that 25 percent of single-family home renters plan to stay put for more than five years. This real estate rental trend impacts the Fort Worth property management through lower vacancy rates and more stable tenants.

Be Tech-Savvy

In addition, accommodating one millennial could help you get a lot of future business. Millennials highly trust online reviews and will make sure to research rental properties and their respective management to see what they can expect. If they like it, you can count on them tweeting all of their friends about it (#trending)!

Speaking of social media, another aspect of marketing to millennials is your online presence. Make sure you’re easy to find on social media and that what you’re putting on the web can be accessed on a cell phone. Include video walk-throughs of your property, as well as a list of the home’s amenities. Having an easy-to-use website with a link to an online rental application as well as a way for renters to pay rent online are crucial to marketing to this generation of tenants. If you don’t have these things readily available, they’ll quickly lose interest. 

Why Choose Specialized Property Managers in Fort Worth 

At Specialized Property Management Fort Worth, our team of property management experts are the ones to trust as real estate market trends change with the new decade. We have been advising property owners all over Fort Worth and helping them manage their rental properties effectively and efficiently for over 30 years. With a 98% customer satisfaction rating and a #1 listing out of 270 property managers, you can rest assured that your property and tenants will be well taken care of. Some of the services we offer are: 

  • No Hidden Fees
  • Faster Leasing 
  • Online Marketing
  • Effective Tenant Screening
  • Financial Peace of Mind
  • 24-Hour Support 
  • Local Expertise
  • Straightforward Communication
  • Cost-Effective Maintenance
  • Online Portal/Rent Collection

Specialized property managers in Fort Worth live and work locally so we know the current real estate rental trends and can help you reach millennials that will be great tenants. You can trust us with your property and your tenants because we’ve seen it all and have learned how to adapt to market changes. Our technology-driven processes save you time, money, and stress while making it easy for tenants to pay rent online and access online information. Let us help make your life easier and managing your property a breeze. You invest and we will take care of the rest. Contact us today to learn more about how we can help you maintain your beautiful rental property. 

Legal Issues: Know Your Tenant’s Rights

If you’re a property owner, you’ve probably heard of The Fair Housing Act and are making sure you comply with it in lease agreements and communication with tenants. But did you know that there are some common legal mistakes that property owners make without even realizing it? Some examples are mishandling payment and expense records, unintentional discrimination, and who is performing maintenance. It can feel like a full-time job to keep up with all federal, state, and local laws and regulations when you have an investment property. A company that offers professional property management in Fort Worth, like Specialized Property Management can help you save time, get organized, and avoid common legal mistakes that could lead to costly fees. 

“Being aware of legal pitfalls that haunt all landlords and homeowners is the first step to creating a better rental experience for all involved,” explains the Director of Operations at Specialized Property Management Fort Worth. “We understand that regulations affect everyone in a rental situation on a local, state and federal level. Landlords count on us to stay on top of all regulations so we can protect them from potential risks and financial liabilities. We understand that many of our clients simply don’t have the time or expertise to commit towards keeping up-to-date on rental property regulations. So, instead of taking this on themselves, they come to a full-service property management to take care of their rental property,” she explains.

If you are not constantly aware of current laws and rights that protect tenants as well as current laws and regulations, you run the risk of walking straight into a lawsuit. Carefully adhere to the advice of your Fort Worth rental management and educate yourself on the policies below to avoid costly legal fees and a lot of time and stress.

Legal Regulations You Should Know About

Privacy Laws

Because you bought your property and invested so much time and money into it, it’s easy to forget about privacy laws. A tenant with a signed lease and keys to a unit has a legal right to privacy. If you want to decrease tenant turnover, it’s wise to help tenants feel like your property is truly their home. If the occasion arises that you need access to your property, make sure to give at least 24 hours’ notice. If you don’t have the time, Specialized Fort Worth Rental Management will always give tenants a 24-hour notice of scheduled inspections or maintenance. If there is an emergency, you don’t need to give notice. Try your best to always be respectful and treat your tenant’s space as if it is truly theirs. Additionally, ensure that tenant records and documents are kept strictly confidential and in a safe space. Leases, complaints, accounting details, and notices need to be safely maintained even after tenants leave. All security deposits and monthly rental payments also need to be properly handled because there are trust and escrow laws to adhere to. 

Security Rights

Every tenant deserves to live in a property that is secure with working doors and windows that have keyed deadbolts and viewing access to the exterior of the home. Windows and sliding doors need to have latches and locks that work as well. If a safety measure needs to be fixed, the tenant has the right to get it repaired at the property owner’s expense. There are some exceptions, so it’s critical that professional property management in Fort Worth know and understand all security regulations for their investment property. 

Maintenance of the Unit

One of your tenant’s rights is “implied warranty of habitability”. This means that your tenant has a legal right to clean, running water, electricity and heat, and a sound structure. According to the Attorney General of Texas speaking to tenants, “You have a right to demand that the landlord repair any condition that materially affects your physical health or safety. Justices of the peace have the authority to order landlords to repair or remedy conditions affecting a tenant’s physical health or safety, as long as the cost of the repair does not exceed $10,000. Tenants can go to justice court without an attorney to obtain a repair order..”

Responding quickly to maintenance requests and scheduling thorough walkthroughs and regular maintenance checks is the best way to keep your building safe and in good legal standing. You are required to take care of mold and foundation issues as soon as possible and make sure that smoke alarms and carbon monoxide detectors are properly functioning. Hire only insured and licensed repair services and don’t attempt to DIY large problems. It is against the law for professional property management in Fort Worth to refuse maintenance and repair to properties that are occupied by a tenant. 

Licensing

In Fort Worth, certain property management activities must be performed by licensed real estate agents so it’s crucial to make sure that you are licensed. According to licenselogix, “The primary functions of many property management companies, such as leasing, renting and collecting rent on behalf of others, are considered real estate activities under existing Texas real estate licensing laws.  If a property management company is going to list, rent, negotiate the rental of property, collect rents, or place tenants on behalf of a landlord client in Texas, the business will need a real estate broker license.”

Costs and Fees

In some states, there are limitations set for certain costs and fees, but in Texas there is no limit on how much a property owner can charge for rent. You also have the freedom to raise rent rates but some lease agreements have regulations about giving a rent-increase notification to tenants beforehand. Application fees are separate from application deposits. Deposits hold a rental unit for someone while application fees cover the time and expense the property owner uses to process your application. Fort Worth rental management doesn’t return these fees if the application is rejected, but deposits are returned if they choose not to lease to a serious applicant. When rent is paid late, there are late fees and these have restrictions. All costs and fees must be clear and straightforward in the lease. 

Eviction Rights

“Quiet enjoyment” refers to the right of tenants to rest easy knowing that as long as they fulfill their responsibilities detailed in the lease agreement, they will not have to unexpectedly start looking for new housing. If a property owner wishes to evict their tenant, there must be proper cause. The eviction process in Texas explains, “In Texas, a landlord must legally terminate the tenancy before evicting a tenant. The landlord must first give the tenant a written notice, as required by state law. If the tenant does not move out after receiving this notice, then the landlord can file an eviction lawsuit (also called a forcible entry and detainer suit).” There are some cases where notice for termination without cause is acceptable.  

Specialized Property Management

Professional property management in Fort Worth like Specialized Property Management must pay attention to the details of every local, state, and federal law that protects both tenants and property owners. Even minor, unintentional infractions can take a hit to your profit margins and future business. Violations can cause tenants to be exempt from paying rent, property owners being buried in fines, or the stress and cost of time in court because of lawsuits. If you want to avoid these penalties, it’s important that you rely on the years of experience and research of qualified Fort Worth rental management. 

“Your excellent management has provided an almost unheard of occupancy rate of 97%. As an ex-banker I will tell you that such numbers were often looked on with skepticism, we saw so many cute twists on reality.”- Joe K., Owner

Our Services

Specialized Fort Worth Rental Management understands that many property managers don’t think about the legal reparations that could occur from a few simple mistakes. That’s why you should trust us to keep up with the landlord and tenant codes for you. We make sure that you are in strict compliance with all laws relating to your investment property. We have an in-house legal counsel, conform to all trust accounting laws and regulations, and can guide you in the process of eviction and writ of possession. We are up to date and current on all:

  • State property code laws
  • Local city ordinances
  • Department of Real Estate
  • Tenant screening regulations
  • Real estate contract law on residential leases
  • Trust and escrow laws on security deposits and monthly rental payments
  • Tenant and landlord maintenance laws
  • Collection and eviction laws
  • Property inspection regulations

“SPM’s reporting and accountability is excellent. I have been impressed with the courteous, professional and efficient manner in which the affairs of my properties have been conducted. I recommend Specialized as an agent for handling rental properties.” -William M., Owner

Don’t let legal reasons be the cause of a loss in potential profits. Trust our team of experts at Specialized Property Management to take care of all your property management needs. Contact us today to learn more about how Specialized Fort Worth Rental Management can make your life easier as a property owner and protect your investment.