Do HOAs Help or Hurt Arlington Property Management?

When you’re in the market to buy a rental home, should you buy one in a neighborhood with a Homeowners Association, or HOA? Property management can be easier, or harder, depending on the HOA rules. Your Arlington property managers at Specialized Property Management can help you pinpoint the right neighborhood to buy a rental home, but while you’re looking around, keep these tips in mind.

HOAs: Why Arlington Property Managers Love Them!

There are some great things about HOAs! The quality of life in an HOA neighborhood is very desirable for some tenants because of the amenities and the general feel of the neighborhood. Your HOA fee typically goes toward keeping the neighborhood looking nice and paying for amenities such as a community pool. These quality-of-life upgrades can be attractive, especially for tenants looking for a single-family home in a nice neighborhood.

HOAs: Why Your Arlington Property Management Might Say Think Twice!

While many HOAs make life more pleasant for residents, they can also make things difficult for rental property owners. Oftentimes an HOA will have rules and bylaws that come with fines if broken. This means you will need to stay on top of things at your rental home and communicate these rules to your tenants, so they don’t unknowingly incur a fine. Go over all the HOA rules, and plan on talking to current residents to find out their experience with the HOA to learn more.

Talk to Your Arlington Property Management for Help

With almost 30 years in the rental property business, Specialized Property Management has worked with many HOAs in and around Arlington. Property managers on our team can help you find out more about the HOA rules of a rental house you are considering. If you are starting out in the rental property business, or already have multiple homes, call Specialized to hear about all our Arlington property management services!

Avoiding Pitfalls of Homeowners Associations and Property Management in Fort Worth TX

property management in Fort Worth TX

When rental property is located in a Homeowner Association (HOA) community, the responsibilities associated with the area often fall to the property owner and not the renter. Rental property management in Fort Worth, TX needs to fully understand the implications of the community’s regulations and rules, and needs to clearly communicate to both the owner and the renter what their individual responsibilities are with the community.

Knowing the HOA Rules

Homeowner Associations have individual fee schedules and property maintenance guidelines. When you have a property in a HOA community, you also have paperwork, rules, and regulations to follow. Tenants need to clearly understand how the homeowners association affects them. Documentation of the renter’s responsibilities with the associations should be clearly outlined in the leasing agreement.

Screening Tenants

Some Homeowner Associations require a specific screening of tenants by the association before a tenant may lease a property. If this is a requirement, both the homeowner and representatives of the HOA will review tenant applications or participate in interviews. If the homeowner fails to properly screen tenants before referring them to the HOA the property may remain vacant for longer. Fort Worth property management with experience vetting potential tenants can help keep this process moving by fully understanding the requirements of the HOA and then using their experience to quickly work through potential tenants to find a candidate that satisfies both the homeowner and the HOA.

Renting Fees

Residents of HOA communities can be concerned about the care of the neighborhood grounds and facilities by tenants. Because of potential extra wear and tear on the community amenities and extra administration work, an HOA may also charge move in and move out fees with a rental property. Fees are usually reasonable and are covered by the property owner. Your Fort Worth property management company should understand the different fees associated with rental property to avoid confusion with rent rates and tenant fees.

Homeowner Association rental property management in Fort Worth, TX comes with its own set of rules and regulations. These rental situations take more time to understand both HOA rules as well as the local and federal rental laws. Specialized is your partner for all rental situations, including those in a Homeowner’s Association community. With our strong referral program and leasing knowledge, your client will appreciate your real estate skills with buying, selling, or property management in Fort Worth, TX.