Disaster Preparedness for Rental Properties

Even the most proactive and prepared property manager in Fort Worth will have to handle an emergency maintenance issue at a certain point. If you keep your properties in good shape at all times, you might not expect anything to go wrong. However, a sudden leak, a tree crash, electricity outage, or a natural disaster can be almost impossible to prevent, which is why it is crucial to have a properly crafted emergency preparedness plan. Such a plan will help protect your tenants, your properties, and you from major loss due to damages. The Specialized Property Management company in Fort Worth is prepared for such situations and has professionals team ready to perform emergency maintenance when needed.

Before a disaster strikes

The secret to preventing disaster is to expect the unexpected. This starts with assessing the properties and their vulnerability to disaster. Rental apartments, commercial buildings, and mobile homes come with different needs during emergencies compared to a vacation or single dwelling home.

Ensure you assess the risks and hazards in your area, especially those specific to the region. Hurricanes, wildfires, tornadoes, and floods are just some of the natural disasters that commonly occur in the Fort Worth area, and Specialized Property Management has methods in place to help prevent major loss. National emergencies and global pandemics are hard to expect, as is the case with the Covid-19 pandemic, but it is important to outline plans and safety measures that will protect both tenants and landlords from getting sick and losing too much money.

Emergency Preparedness Plan

After assessing your properties, all the fine details on the disaster preparedness plan are in your hands. However, it is prudent to consult with your insurers and other key agencies to confirm your plan’s completeness and its compliance with relevant policies. Ask these agencies the different types of contingencies and disasters that you can include in your plan.

Create monthly or yearly rental property safety checklists if you do not have them. Ensure you include items such as tripping and falling hazards as well as fire extinguisher details. Consider evaluating your office even if you work from home as your safety is crucial.

Create two versions of the plan

There should be a version for the office and the other for your tenants. The version for the tenants can be included in the welcome package alongside the rules and regulations. Always have both versions stored electronically and in the cloud for easy retrieval.

Consider including the following ideals in the tenant version of the disaster preparedness plan:

• Contacts for the local emergency response agencies

• Exit plan and diagrams

• Check-in plans and calls

• Security, safety, and health tips

• Pest safety

• Utility, mechanical, environmental, and plumbing issues

The office version for emergency preparedness plan can include the following items:

• Checklists for the maintenance

• Locations for the fire extinguishers

• Emergency agencies phone numbers

• Instructions and locations to shut off electricity, gas, and water

Important considerations to include in the disaster plan:

• Ensure all emergency exits and fire-safe staircases are appropriately marked. Include maps and diagrams

• Make use of routine maintenance checks on the fire, smoke, CO2 detectors, and fire extinguishers. Ensure they are placed in strategic locations, well visible with easy to read and clear instructions.

• Ensure you know all the safe spots on the property that you manage and within the community around and document them properly.

• Have plans for the tenants with special needs who may need extra assistance and support.

• Offer stickers to pet owners to identify rentals with pets.

Steps to Take During a Disaster

Communicate

There may not be much time during a crisis, but make sure you try the best you can to communicate. Look for reliable property management software with built-in emailing and text messaging capacities. Get templates in place to ensure it only takes a short while to get the word out and reach the target audience.

The use of social media is a great approach to convey messages to your tenants. People can easily access social media feeds in case of emergencies. For example, having a Facebook page for an apartment complex can keep tenants informed of any important notices. Finally, consider going door to door or chain calling to pass information.

Listen

Ensure you keep up to date with state agencies such as the Center for Disease Control and Prevention (CDC), Federal Emergency Management Agency (FEMA), and other regional and national disaster management agencies. Being informed will help you with resources and recommendations set out by state agencies for disaster mitigation. Also, listening to your tenants and the local community can provide you with vital information about the situation.

The Recovery Phase

Property Damages

Ideally, agencies such as FEMA and Red Cross will let you know when it is safe to reenter your property after a disaster. It is prudent to keep off any property that has been affected by the crisis until you get approval from the relevant agencies. Your safety and that of tenants should always come first. Once the agencies have allowed you to enter, your insurers will work on the facilities that may need repair or replacement. Establishing a healthy relationship with contractors early on is useful, but make sure you get the advice of your insurers in the process. Ensure you also keep your tenants informed all along the way.

After the Disaster

Once everything has settled, and normalcy resumes, life should begin finding its usual course. This should happen only when the disaster has been declared over. Ensure you continue communicating with tenants as you maintain code compliance. Update the disaster preparedness handbooks and office binders where necessary.

Our Specialized Property Management company in Fort Worth can help you, as a landlord, stay on top of everything, especially when faced with a disaster. Our team is highly trained and can help keep you, your properties, and your tenants safe. Contact us today for a quote! 817.886.9220

The Benefits Of Hiring A Property Manager In Fort Worth

Finding the right property management company in Fort Worth can be a lifesaver for landlords. It doesn’t matter how big or how small your rental property investment may be. Professional management can relieve stress, increase efficiency, and even increase your overall profit.

The benefits of hiring a skilled property manager add up fast.

Specialized Property Management in Fort Worth offers great prices combined with proven and seamless management services. These include the best practices for screening potential tenants and staying on top of federal, state, and local regulations that affect the real estate industry. Our clients always have instant access to custom reports on all aspects of their rental property.

Our professional property management include these essential services:

• Advertising and showing apartments, and screening applicants

• Maintaining the property

• Advising you on the optimal rents to charge for your property

• Conducting property inspections to uncover small issues before they become big problems

• Managing applications, verification documents and background information on tenants

• Collecting rent electronically and depositing it immediately into your account

• Conducting criminal history and credit checks on prospective tenants

• Maintaining communications with tenants and responding to emergency repair calls, non-critical questions, complaints and requests for upgrades

• Renewing leases

Property managers handle the stressful and time consuming situations so that you don’t have to:

Unfortunately, being a landlord to more than one or two families quickly becomes a full-time job for landlords who expected “passive income.” There are usually emergency calls at the most inopportune times. Maintenance, upkeep, and accounting can be expensive and time-consuming.

Hiring a property management company in Fort Worth frees up your time for traveling, working a regular job, hobbies, or simply enjoying a well-earned retirement. The cost can be minimal when you consider the many advantages and cost savings. Fewer vacancies increase your ROI so that you can enjoy being a landlord, earn passive income, and avoid the stress of daily management duties.

If you are looking for a property manager in Fort Worth, contact us online or call 817-886-9220 for a free consultation today!

fort worth tx property management

Hiring A Professional Team For Property Management In Fort Worth

Property management in Fort Worth has become increasingly challenging for investors and landlords who don’t have the resources to mitigate the risks of the Coronavirus pandemic. That in itself is a strong argument towards hiring a property management team, however, COVID-19 is not the only difficulty landlords have to face. Property management companies make things so much easier for rental property owners, that it is well worth the investment to start working with one.

Special Considerations in Today’s Efforts to Stop the Spread of COVID-19
Keeping up with all the evolving regulations aimed at stopping the spread of the Coronavirus can be exacting and fraught with hidden risks. For example, landlords must stay on top of federal, state, and local regulations. The federal government is exerting strong pressure on landlords to refrain from enforcing evictions for non-payment of rent during this high period of unemployment. The Federal Housing Finance Agency announced that mortgage payments for multi-family residences financed through Freddie Mac and Fannie Mae would be forgiven for owners who offer similar forbearance to their renters.

Professional property management companies have the resources and equipment to clean and disinfect properly, and they can afford to maintain enough staff to handle jobs that independent property owners can’t afford to be on top of full-time. The Specialized Property Management team is working to comply with recommendations for social distancing and increased cleaning of communal areas.

Property showings have become virtual, and professional companies have the resources to manage showings using video walkthroughs. Technology also makes it possible to handle lease renewals remotely. Cleanup after voluntary evacuations has become more detailed, especially in areas where people put their hands.

Cleaning and maintenance are two of the biggest benefits of hiring a team for property management in Fort Worth. Teams are protected from infection with face masks, gloves, social distancing regulations, and alternative ways to communicate with tenants. Property managers use the right disinfectants and cleaning strategies, such as increasing focus on common touchpoints in the cleaning process.

The Extraordinary Benefits of Hiring a Property Management Company
The many benefits of hiring out property management in Fort Worth include getting professional expertise, knowledge of local regulations, and discounts on equipment, furnishings, and landscaping tools. Specialized Property Management provides many beneficial services, such as:

Rental Management
Our professional team has the resources and knowledge to find qualified renters faster and more efficiently than private landlords. We know where to advertise to get the best response – whether it’s on local billboards, curated rental websites, or YouTube.

Showings
Video tours help to pre-qualify rental applicants faster and avoid unnecessary time spent conducting tours for people who wouldn’t be interested.

Screenings
We handle administrative jobs that often drive landlords crazy. Conducting background and credit checks are one of the biggest benefits of hiring professionals.

Inspections
Inspections are performed regularly to maintain the aesthetics of your property and identify essential repairs and upgrades. We also provide mid-lease inspections to ensure that the tenants are taking proper care of the rental property.

Document Management
Our company maintains all rental documents and application information as required by the Texas Association of Realtors. We also educate tenants on how to care for leased property and fulfill their obligations to qualify for the return of their security deposits.

Collections
Our team collects rent and deposit funds as agreed contractually. We also enforce rent collection with reminders, assessment of late fees, and initiating eviction procedures.

Maintenance
Ongoing maintenance by professionally skilled workers is one of the biggest benefits of hiring our property management team. We handle the tenant-requested work, preventative maintenance, and interior and exterior inspections.

Turnover Management
Managing turnover is an important part of a landlord’s job. At Specialized Property Management, we handle lease renewals, advise tenants on moving procedures, get properties in rental-ready shape, and find new tenants quickly. We also handle the post-moving inspections, assess damages, and refund remaining deposits.

Emergency Repairs
Emergency calls from tenants are one of the landlord’s biggest problems. Emergency calls can interrupt holidays, vacations, sleep, and personal contentment. It’s great to have someone who will handle emergency repairs promptly, especially critical issues like failed HVAC systems or broken water pipes.

Tax Benefits
The fees you pay for property management are fully deductible, which reduces the cost you pay for professional management services. These fees are summarized for monthly tax calculation, quarterly reports, and end-of-year taxes.

Professional Insights
Landlords often make the mistake of renting property to anyone to maintain cash flow, but accepting the wrong tenant can often result in greater expenses that include legal fees, property repair expenses, and bounced check fees. It’s better to screen tenants carefully before renting to them. Our team can advise tenants of their legal rights to avoid lawsuits or heavy-handed practices. Texas courts don’t accept ignorance of the law as an excuse when awarding judgments for landlord infractions, and stiff legal fees can add thousands of dollars to the costs of defending against a lawsuit.

Reporting
One of the things to look for in a property management company is multiple communication methods for reporting. The best companies provide a variety of custom reports that keep you on top of long-term repair needs, cash flow, maintenance reports, and adjusted income, which are based on monthly, quarterly, and annual income reports.

Dealing with Contractors and Subcontractors
Many private landlords hire day labor or a handyman when major repairs become necessary, but that practice can be especially frustrating and more expensive than you imagine. If the work is done improperly, it might cost more to fix the mistakes than hiring a professional in the first place.

Hiring the wrong contractor can also prove frustrating unless you have an efficient team that you’ve used before on call. Even if you have a reliable contractor, there could be scheduling delays and cost overruns for special projects.

Specialized Property Management has vetted in-house teams and outside contractors available to handle any construction or repair job that you might need. You can save on construction costs because the teams have been picked for efficiency and fair prices.

Getting Your Property Ready for Rental
Hiring a property management company can be a great help for new landlords because we offer a tremendous array of services. These include a platform for communicating with tenants 24/7 to respond to repair needs, answer questions, accept rent payments electronically, and post information about tenant responsibilities.

Your property management company can be a valuable business partner; that increases your annual profit. Experts can advise you about what rents to charge, establish tenant-approval criteria, and suggest upgrades that increase the cost-value of the property and the rental rates that you charge.

Qualifying Tenants
Qualifying tenants is a step that’s often skipped by new landlords; however, even experienced owners often lack the skills for picking the best-qualified tenants for a rental. Picking tenants who will stay long-term is the best cost-saving strategy in the rental business. The Specialized Property Management team finds tenants who will:

  • Rent property for a long time
  • Pay the rent on time
  • Offer fewer troublesome complications
  • Care for the property like homeowners
  • Pass a criminal background check

Did you know that you could be held liable in some cases if you rent to a known criminal who physically assaults another tenant? You must always follow the law in regard to equal opportunity rentals for people from any nationality, creed, race, or sexual orientation. Still, you can establish criteria that prevent renting to people with criminal backgrounds, poor credit history, or a history of evictions. It’s incredibly important to rent to stable tenants and families.

Choosing the right tenant helps to reduce repair calls, avoid litigation fees, and cut down on squabbles between tenants. Our property management team can screen hundreds of rental applicants, and we get a good idea of who will be a good tenant and who might prove troublesome over the long-term outlook.

Fast, professional upkeep and an easy way to pay rent can encourage any existing tenants to renew their leases. Together, these benefits of professional management can increase your return on investment, ensure prompt advertising and rental to the right type of tenant, and proper interpretation of federal, state and local laws that affect tenant rights.

Priceless Benefit: Peace of Mind
Not everyone is cut out for property management. Many people struggle just to maintain their own residences, and being responsible for multiple tenants in an investment property can be a nightmare for inexperienced landlords, those who become disabled, retirees, and those who inherit income-producing property.

Some landlords just grow tired of performing the day-to-day duties required. Hiring a team to handle property management in Fort Worth can restore your equilibrium and foster peace of mind. You can avoid tenant confrontations, maintenance emergencies, administrative red tape, and stress by hiring the right management company.

In the Fort Worth area, Specialized Property Management offers exceptional service that meets all the criteria of the best property managers. Call or contact us today for a confidential consultation and assessment of your needs. We can help shield you from the daily stresses of property management and deliver peace of mind.

Contact Us Online – Or Call For A Free Quote! 817-886-9220

Expert Property Management in Fort Worth

As a rental property owner, you want to avoid the stress involved in managing rentals, but you also want professional service from local experts that you can trust to manage your property well.

If you’re looking for property management in Fort Worth, the Specialized Property Management team is the best in the field. We have over 30 years of experience in the Fort Worth area and a 98% rating for customer satisfaction. Using the latest in digital technology, we have systems that have been proven effective in managing all aspects of property management: finding rental clients, enabling online payment, and much more.

Professional rental management companies save you time, money, and, of course, the stress that comes with dealing with the myriad of issues involved in managing a property. With the services of Specialized Property Management, you’ll no longer have to worry about long vacancy periods, poor tenants, or the dangers of high tenant turnover. You also won’t need to worry about meeting local regulations and complying with the laws that apply to rental properties. We will also make sure that you get the best insurance coverage for your rental properties at a cost-effective rate. Experienced property owners know that insurance is of vital importance when considering renting a property, you worked hard to buy your property and you should make sure it is protected no matter what.

The services that Specialized Property Management provide include:

• Inspections to ensure the property is attractive, safe, and ready for rental.

• Advertisement of the property across a wide range of websites and online search sites, as well as through traditional marketing techniques, such as posting a sign in the property’s yard.

• Both live and video walkthroughs of the property

• Screenings of potential tenants through rigorous background checks to find the most responsible tenants for your property

• Preparation of legal documents related to leasing the property–all in accordance with requirements of the Texas Association of Realtors

• Enforced rent collection with a strict but respectful process that avoids late payment.

• Maintenance done in a timely manner and regular inspections to spot potential problems and perform preventative maintenance

Specialized Property Management provides a web portal for you to access accounting statistics and maintenance reports. You will also receive monthly reports and end-of-year tax statements, as well as weekly updates during the period that the property is being leased.

So, if you need some help with your property management in Fort Worth, feel free to contact us or check out our website—we’ve got your back!

Request A Management Quote – 817-886-9220