Smart investors know that working with a professional Fort Worth property management company can help increase the return that’s earned on their investments. While you’ll need to pay for expert leasing and management services, you can more than make up for those fees with higher rents, better tenants, and lower expenses. The value that you receive when you work with good managers is more than worth the costs you incur. Read more
Picking the right rental price for your Fort Worth rental property does not have to be complicated.
Both underpricing and overpricing your home comes with risks. If you charge a price that’s too low, it will mean less monthly income for you. A rental price that’s below market will also make it hard to catch up; you may not be able to raise the rent to market levels until you’re looking for a new tenant.
You don’t want to charge too much, either. You’ll have a hard time renting it quickly to good tenants. A longer vacancy period is a lot more expensive than a lower rental price.
Properly pricing your Fort Worth investment property requires a deep understanding of the local rental market, and a willingness to do some research. There are a few things you can do to ensure you’re pricing your home correctly to attract the best tenants for your property. Read more
As an experienced Fort Worth property management company we are asked a lot of questions. We love answering any question you can throw at us; it is what we’re here for! But to simplify things we’ve put together a list of FAQs for you. Read our answers below to the top 10 questions we see most often in Fort Worth residential property management.
1. What is the quickest way to get my property rented?
Many things factor into shortening vacancy days, but we see the most success when we do these simple things:
- Ensure your property is up to code and needed maintenance is completed before showing the home.
- Spruce up around the property to increase curb appeal.
- Market aggressively, especially online on multiple websites.
2. How can I keep my tenants longer?
Tenant retention can be a struggle for some landlords. If you’re running into this issue, try to take a step back and place yourself in your tenant’s shoes. Are you responding to emergencies promptly? Are there maintenance issues that need to be resolved? How is your tenant-landlord relationship? An experienced Fort Worth property management company like Specialized Property Management Fort Worth has proven processes for tenant retention so you won’t have to deal with a costly turnover as often. Read our page on high tenant turnover for more tips.
3. What strategies can I use to make rent collection less of a headache?
The number one way you can make rent collection less of a headache is offering online rent payment. According to a Citigroup study, simply forgetting that a payment is due is one of the top reasons Americans pay bills late. Setting up online rent payment, with an automatic draft option, is beneficial to everyone involved. For more on this topic, read this Transunion article about the five great reasons landlords should provide online payment options.
Also, you can read more about our rent collection process.
4. Legally speaking, how can I protect myself as a landlord?
Take a good look at your Fort Worth property management company. Are they held to a high ethical code? When you are hiring someone to run your property, you need to know they are doing everything by the book. At Specialized Property Management Fort Worth, that is true of all our property managers. They know the laws and regulations for Fort Worth, Texas, and the United States, and take them all seriously. Also, we have in-house legal counsel at your disposal should you need them. Learn more about avoiding legal mistakes here.
5. What’s the best way to keep maintenance costs down?
The number one way to reduce maintenance costs is by being proactive in both inspections and regular maintenance. Your home is a machine and needs to be checked and oiled periodically. When you neglect inspections or only inspect when tenants move out, you are in for major maintenance costs down the line. Often a small problem, like a leaky pipe, will go unnoticed until it becomes a major (and majorly expensive) issue. Regular maintenance needs, such as changing air filters, are equally important, so your home’s systems last as long as possible. At Specialized Property Management Fort Worth we inspect the home at moving time and mid-lease to ensure everything looks and works great. Read more about lowering costs on this post about cost-effective maintenance.
6. Doesn’t managing my property myself save money?
This is the great myth of property management. Inexperienced landlords often imagine their property management experience as this: put up a for rent sign, pick up rent checks, and answer a few maintenance calls. If that was all property management entailed, then of course, you could save money by self-managing! However, a Fort Worth property management company does much more than those simple day-to-day tasks. At Specialized Property management Fort Worth we can save you money over self-managing because we help you avoid the following costly mistakes:
- Regulatory fines resulting from inexperience
- Negative tenant interaction leading to turnover
- Improper maintenance and upkeep of the home
- Pricing your home too high or too low
To learn more about self-managing vs. hiring professional management see our post here.
7. Will paying professional management fees negatively affect my cash flow?
Your professional management fees will come back to you in the form of faster leasing, less turnover, and fewer costly mistakes. Also, management fees often serve as a tax write-off. Our clients can end up with higher cash flow because our expert knowledge and service lead to cutting costs without cutting corners. Learn more about solving cash flow issues here.
8. How do I know what is going on at the property if I am using a property management service?
Many landlords, especially if they are renting out their previous personal residence, are concerned with what is happening at their property. At Specialized Property Management Fort Worth we never want you to feel like you’re in the dark. Our Fort Worth residential property management team keeps meticulous records of every interaction with your property and your tenants. Our online owner portal lets you see and review these reports at any time. And if you ever have questions or concerns, you can call us 24/7.
9. How do I choose a Fort Worth property manager?
Decide what you want from a Fort Worth property management company before you do your research. Come up with a checklist of questions to ask potential management teams. Find out if there are any hidden costs you should be aware of. A full-service property management team will often save you the most money, time, and stress. At Specialized Property Management Fort Worth we pride ourselves on our expertise in property management, our dedication to transparency, and our customer service. To learn more, read our page about choosing a property manager.
10. With so many Fort Worth property managers out there why should I choose you?
To put it simply: we are the best! Our team specializes in providing an excellent experience for owners and tenants. With years in the business focusing on single-family rental properties, you won’t find anyone else out there with the extensive knowledge, proven processes, and friendly team that will turn your investment into a cash flow property.
To learn more about what we do visit our website or give us a call today to set up a free rental consultation.
Who do you turn to when you have questions about your property? What questions should you ask before you hire property managers? Fort Worth landlords turn to Specialized Property Management for answers because we have been in the business for over three decades, and we know a thing or two about running successful investment properties. To help you get your questions answered we’ve created a list of the top 10 property management questions we receive.
- How do I get my property rented more quickly?
Make sure your property is rent-ready and market aggressively.
- What can I do to make sure my property gets and stays rented?
Keep your property well maintained and have a proactive tenant retention program will keep your home occupied.
- How can I make rent collection faster and less stressful?
Automated rent collection ensures less waiting and worrying.
- How can I protect myself legally as a landlord?
Strong legal counsel with regulatory expertise puts you ahead of any legal issues.
- How can I keep maintenance costs down on my property?
24/7 response and proactive inspections leads to more cost effective maintenance.
- Should I manage my own rental property to save money?
Many clients find self-management ends up costing more in legal fees and making up for avoidable mistakes.
- Won’t professional management fees hurt my cash flow?
Our clients find that they save money because of fewer costly mistakes and faster leasing.
- How will I know what is happening with my property?
Specialized Property Management offers an online portal that tracks all activity at your property as well as 24/7 support and transparency.
- How do I choose the best property manager?
Ask the right questions! Ask us for a checklist to compare us to other Fort Worth property management.
- Why should I trust Specialized Property Management?
With over 30 years as residential property managers we are the property managers Fort Worth landlords turn to for peace of mind with their rentals.
SHOULD I HIRE FORT WORTH PROPERTY MANAGEMENT?
Managing your own property can quickly become complicated and expensive. When you hire the experienced professionals at Specialized Fort Worth, you know you are getting property managers who are held to the highest standards. We offer affordable fees and never have hidden charges that surprise you. For more answers to your property management questions call Specialized Property Management today!
YOUR SPECIALIZED OFFICES
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
is a Real Estate Brokerage licensed by the State of Texas, TREC license number 0375514
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