When you want to find the best tenants for your Fort Worth rental property, you need to catch their attention with some great marketing and a positive showing experience. But, before you can advertise your home or let prospective tenants see it, you have to make sure it’s rent-ready. Getting it ready for the rental market means making it clean, functional, and attractive. Read more
Vacancy days can kill your cash flow. As a landlord, it can be tempting to cut corners to reduce your costs during a vacancy, but that often leads to your home being on the market longer. Below we share information on how Fort Worth rental management companies can help you reduce vacancy days.
What are Vacancy Days?
Vacancy days are the number of days in between a tenant moving out and a new one moving in. During this time you are not earning rental income but your costs have not decreased. In fact, costs tend to increase during vacancy days as you pay for things like re-keying, touching up for a new tenant, and marketing your home. Many landlords also take the time between tenants to address larger, planned construction projects like switching out carpets for vinyl flooring. Even with sufficient planning, a long vacancy will affect your cash flow negatively and jeopardize your investment. Fort Worth rental management companies can help you avoid extended vacancies, but first, you have to understand what leads to these vacancy days.
What Leads to Long Vacancy Periods?
Vacancy days are a fact of life even for the best property management companies in Fort Worth. But understanding factors that lead to long vacancy days can help you minimize their impact.
- Showing Too Early. Your potential tenant will want to imagine their life in the home, which can be hard if there is another tenant still occupying the home. The sights, sounds, and smells of someone else living in the home can turn off a potential tenant making their first impression a bad one. Likewise, construction projects, however minor, should be complete before you show the home.
- Keeping Utilities Off. Turning the utilities off between tenants may seem like an easy way to cut costs, but they can lead to a longer vacancy. Just like showing your home too early, showing it when the utilities are off will cause potential tenants to have a hard time imagining themselves in the home.
- Incorrect Pricing. When your rental is priced incorrectly it can lead to more days on the market. Rentals priced too high will have a hard time finding a tenant in a market flooded with similar homes at a lower rate. Rentals priced too low signal to tenants that there is something wrong with the property and they may avoid even taking the time to view it.
- Little or No Marketing. Marketing, especially in the digital age, is an important part of property management. Most tenants start their search online and only view properties they have already seen photos of on their favorite website. A sign in the front yard will not be enough to bring in quality tenants.
How to Lease Your Property Faster
To lease your property faster, you need to address the factors that lead to leasing delays.
- Getting Your Property “Rent-Ready”: re-key, touch up paint, and fix broken fixtures. When done efficiently this process can take as little as a few days. Fort Worth rental management companies can help you with this process. Zillow has a handy checklist of 12 steps to get your home rent ready.
- Curb-Appeal: even if your property is looking great and working well on the inside, some tenants will be turned off by the curb-appeal and opt for a “prettier” home. Take a look at your home from the street level and try to find ways to spruce it up. HGTV has a list of 8 Budget Curb Appeal Projects you can do to boost their home’s appeal.
- Use the Internet: post your home on as many rental websites as possible for maximum exposure. Use photos that show off the best side of your home. A video walkthrough is also recommended so potential tenants can get a better idea of how the property is laid out. To see examples of a video walkthrough see our YouTube page. HGTV also has an article about how to take great photos of your home.
Don’t Skip Steps
Property management is often a delicate balance between spending money and saving money. When dealing with a vacancy, some landlords will try to minimize costs by focusing on the wrong areas. Doing this will often end up with a longer vacancy and more money lost. Think of it this way: your property typically rents out for $1,440 per month (the average according to Zillow). If you spend $500 to spruce up your property, market it, and keep the utilities on for one month, you will be more likely to rent the property within that month. Your total turnover loss will be one month of rent plus $500, a total of $1,940. If you decide to do the bare minimum (rekeying, minimal cleaning), turn the utilities off, and only put a sign in the front yard, you could spend closer to $50. But after three months of vacancy, your turnover loss will be $4,370. Experienced Fort Worth rental management companies can confirm that not skipping important steps, even if there is an upfront cost, will turn around and make you more money in the long run.
How Fort Worth Rental Management Companies Can Help
An experienced property management company can help you determine what factors could lead to a long vacancy at your home. Property managers who work with tenants regularly are more in tune with what these tenants are looking for in a rental home. Our property managers know what amenities tenants want, how to price your rental appropriately, and what websites to market on.
At Specialized Property Management Fort Worth we have a proven track record of short vacancy days. In fact, most of our properties are leased in under 29 days. Short vacancies mean money in your pocket. An experienced property manager will inspect your home and make recommendations that will shorten vacancy days and cut costs where it makes sense. As one of the best property management companies in Fort Worth, we use our knowledge and expertise for your benefit. Give us a call today to hear about all our services and schedule a free rental consultation.
Vacancies are one of the biggest problems rental property owners face. Every day your rental home sits vacant, you are losing money. Some landlords try to offset the cost of vacancy days by cutting corners like not keeping the lights on or letting the landscaping overgrow. What they don’t realize is that not keeping your property looking nice may lead to more vacancy days and attract less desirable tenants. That is why your property management in Fort Worth matters. With the right property management, you can decrease both costs and vacancy days. Here are our top ten tips for renting out your home faster in 2018, so you can get your year started off right!
- Pay attention to your home’s curb appeal.
- Add amenities like a washer and dryer or new light fixtures.
- Deep clean inside including carpets and air vents
- Show your home only after the previous tenants have moved out.
- Keep your utilities on and make sure all light bulbs are working.
- Touch up paint around the house.
- Trim landscaping in front and back of the house.
- Show potential tenants the most recent inspection report letting them know the home is safe and up to code.
- Make renting easy with an online tenant portal for maintenance tickets and rent payment.
- Hire the right professional property management company.
How Professional Property Management Helps Fort Worth Property Owners
Any experienced property owner can tell you that managing rental property is a full-time job. When you leave small details undone, they can turn into big and costly mistakes. When you hire professional property managers, you can rest easy knowing the professionals are doing everything they can to get your home rented quickly to qualified tenants.
The Specialized Property Management Difference
The team at Specialized Property Management is exactly who you need to help you get a better return on your investment. Our property managers take care of everything: getting your home rent ready, scheduling and performing maintenance and inspections, communicating with tenants, and everything in between. To hear about all our services and schedule a consultation call Specialized Property Management in Fort Worth today!
Your Fort Worth property management company knows that making your home look good before potential tenants arrive will decrease the number of vacancy days. But how do you make your home rent-ready on a small budget? Big projects aren’t always needed to bring in new tenants, and some small upgrades will even allow you to charge higher rent. Check out these low-cost, high-impact ways to make your home appealing to potential tenants.
Ft Worth Property Management Rent-Ready Checklist
- Tidy up outside. You don’t need to invest in a big landscaping project but remember the front yard and door are the first things your new tenant will see. Trimming trees and bushes, planting a few flowers, repainting the front door, and adding a welcome mat will go a long way to making your tenants feel at home.
- Repaint or touch up inside. Paint is a low-cost way to refresh any room. If you don’t want to repaint the whole house consider painting high traffic areas such as the kitchen or entryway. Touch up any spots where paint has chipped.
- Replace broken appliances. This step costs a bit more than the others, but can have a huge impact for potential tenants. Many old appliances are finicky and inefficient, but when you add new appliances tenants know you care about their comfort.
- Clean and maintain. While it may seem obvious, cleaning and maintaining your rental home is a top priority when making your home rent-ready. Replacing light bulbs, cleaning dust from baseboards and air filters, shampooing carpets, and other once-in-a-while cleaning tasks should be done before any potential tenant visits the home.
Need a Fort Worth Property Management Company?
Specialized Property Management has almost 30 years in the business and is one of the industry leading Ft Worth property management companies for a reason. Landlords can rest easy knowing their properties are taken care of at every step, and making your home rent ready is no exception. We are known for decreasing vacancy days which increases your income. To hear about all our property management services give us a call today!
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.
- 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.
- 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.
- 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.
- 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.
The Rent-Ready Quiz from the Leading Fort Worth Property Management
First impressions count. If they didn’t, we wouldn’t spend so much time worrying about how we look and act on a first date. Tenants searching for their next rental home are equally impressionable. Their first experience with your property will determine their next steps. Will you get a second date? Maybe a signed lease? The more of the following questions that you can answer ‘yes’ to, the more memorable first real estate date you’ll have with prospective tenants.
The Fort Worth Property Management Rent-Ready Quiz
- Is your property appealing from the curb? If you were driving by, would you stop to see more or hit the gas? (__Yes __No)
- Does your property need maintenance and repairs – including safety and security items as well as cosmetic issues? Think running or leaking plumbing, broken windows, mold, etc.? (__Yes __No)
- Did you rekey your property or install a keyless code entry? (__Yes __No)
- Are your appliances in working order with new filters? This includes your water heater, AC, and heating system. (__Yes __No)
- Do your smoke detectors and other monitors required by law such as carbon monoxide or radon detectors have fresh batteries? (__Yes __No)
- Have you removed personal belongings from everywhere on the property? Including sheds and garages? (__Yes __No)
- Are the walls painted a neutral color, not touched up, and with no paint left behind for the renters to use? (__Yes __No)
- Are your utilities still on so potential renters may tour the property in light and a comfortable temperature? (__Yes __No)
- Has the property and yard been professionally cleaned and maintained? (__Yes __No)
- Did you install a lock box? (__Yes __No)
Now score yourself. One point for every ‘yes’.
1-5 = Your first impression is lacking. Most tenants are out of your league. Call a Fort Worth property manager professional for a pep talk and some assistance.
6-9 = You’re ready to call the team at Specialized for some fine-tuned advice.
10 = Put up that posting.
Think of your Fort Worth property manager team, Specialized, as your real estate dating experts. If you’re a 10, we’ll keep you there. If you’re anything less, we’ll help you get there. Making your property rent-ready will not only reduce your risk and liability down the road, but it will increase your chances of leasing it more quickly to the most reliable tenant possible. We lease more than 5,000 homes per month. We’ll be your best wing man.
Call us today.
IS YOUR PROPERTY READY TO RENT?
Specialized knows that time is money. And, when you partner with the best property management company, Fort Worth investors know you will have our experience to help you prepare your rental homes between tenants. Some owners want to lease their properties quickly to reduce vacancy days, but they overlook the importance of having the home ready to show before they begin the leasing process.
WHAT DOES MY HOME NEED TO BE CONSIDERED ‘RENT-READY?’
Download our handy rent-ready checklist for an overview of tasks that should be performed before showing any property to prospective tenants.
Specialized offers a comprehensive spectrum of services you need to get your property in rent-ready condition. Our clients also benefit from our national partnerships and will receive discounts on remodeling and repair services. These services include:
- Property Inspections (Inside & outside)
- Maintenance & Repairs
- Upgrading or Replacing Appliances as Needed
- Professional Cleaning Services
- Handyman Services
FORT WORTH PROPERTY MANAGERS BENEFIT FROM ‘RENT-READY’ PROPERTIES
By taking care of needed maintenance and repairs, replacing or upgrading appliances, and completing any needed remodeling, your home will attract a higher number of tenant applications for a faster leasing process. Find out why so many Fort Worth property managers opt for our high-quality and affordable rent-ready services to help get their homes prepared faster. Call us today to get your home ready and re-rented quickly!
Put our team, experience, and ethics to work for you! Call (817) 732-1394
Summer is always a busy season for real estate. Families move between school sessions. People like to relocate in weather that is not wet and cold. Investors can attract tenants and fill vacancies faster during summer and any season with the proven process for success from Specialized Specialized Property Management. Here are a few tips to get you working in the right direction:
Fort Worth Property Managers Need to Have Property Rent-Ready
Being rent-ready means your property is completely ready on the inside and out for a tenant to move in. Seeing a home that is in the middle of a remodel job requires the prospective tenant to use their imagination to see what the end results will be. You want your applicants to walk in the door and immediately see themselves at home in your rental.
Always Check for Safety Issues
Tenant safety should always be a priority for Fort Worth property managers. Remember to re-key a home immediately after it is vacated. Then, before you have new tenants move in, you need to give the house a thorough inspection for any safety issues that need attention. Knowing the state and federally required safety regulation will help you know what to look for. Always check for exposed electrical wires, shaky handrails, or lose stairs. Smoke detectors and other monitors need to be checked to see if they are in good working order with new batteries installed.
Finish All the Work
Remodeling and maintenance are dirty jobs. Always clean up construction leftovers, tools, and personal belongs before you show a home to an interested tenant. Fort Worth property managers are liable when equipment is left laying around, and unfinished construction projects create an unsafe zone for applicants to walk through. When a home with fresh paint and clean appliances is shown, people know you are ready for business.
Get Ready to Advertise
Your home is rent-ready. The yard looks good. All your maintenance and remodeling work is finished and cleaned up. Now you can put out the “For Rent” sign. Now is also a good time for your property management in Fort Worth, TX to conduct any final walk-through inspections to make sure your property is completely up to code and following all federal and state housing requirements.
Specialized Specialized Property Management has the experience to get your property rent-ready, up to code, and aggressively advertised, so you have fewer vacancy days. All we do is property management, and our 98% customer satisfaction rating says we do the job right for your investing success. Our expert team of Fort Worth property managers is ready to get to work for you today. Visit (www.specializedrpm.com)
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Fort Worth, TX 76116
Fax: (817) 377-1201
CITIES WE SERVE
Aledo Property Management
Keller Property Management
Arlington Property Management
North Richland Hills Property Management
Weatherford Property Management
Burleson Property Management
Mansfield Property Management
White Settlement Property Management
Benbrook Property Management
Crowley Property Management
Specialized Property Management
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