Many landlords think self-managing will save them money. But is that true? The complexities that come with Arlington residential property management are not always obvious to first-time landlords. Knowing all the housing regulations, HOA rules, and laws surrounding rental properties takes time and experience. If you make a small mistake that could mean a big fine. Below we have listed the top five mistakes landlords make so you can be aware and try to avoid them!
- Landlord Mistake 1: Too Many Vacancy Days. Vacancy days can be one of the biggest costs to property owners. Each day your property sits empty you lose money. Inexperienced landlords often try to cut costs by doing things like shutting off utilities or putting off needed repairs, but this tactic only leads to more vacancy days. The professional Arlington residential property management team at Specialized Property Management Fort Worth can help you avoid these losses.
- Landlord Mistake 2: Placing Under-Qualified Tenants. Often landlords don’t know or don’t care to thoroughly screen each applicant as an Arlington residential property management would. Checking an applicant’s background, credit, and rental history means you will have a better picture of their ability to take care of your home and pay the rent.
- Landlord Mistake 3: Poor Tenant Communication. One reason tenants look to move at the end of their lease is poor communication with their landlord. Tenant turnover is expensive and time-consuming so responding quickly and respectfully to tenant requests is important. Many landlords find that Arlington property managers are a great help when trying to communicate with tenants.
- Landlord Mistake 4: Overlooking Maintenance Needs. Failing to maintain your home’s systems, like the air conditioning, will give them a shorter lifespan. When you overlook or put off needed maintenance, you could end up paying more in the form of a replacement system.
- Landlord Mistake 5: Regulatory Violations. Do you know all the federal housing regulations, local laws for landlords, and HOA rules that apply to your rental property? It is the job of Arlington property managers to stay on top of these ever-changing regulations, so you don’t get stuck with a costly fine.
Arlington Residential Property Management Works For You
Professional property managers work for you to make sure your property is running smoothly and efficiently. With years of experience under our belts, the Arlington property managers at Specialized Property Management Fort Worth has the knowledge and skills to make sure your investment is a success. To schedule your free rental consultation call Specialized Property Management Fort Worth today!