How to Attain High Tenant Retention

Identifying good tenants is essential to attain a sustainable cash flow as a property owner. However, keeping great renters is just as important. A good landlord will invest time and resources towards healthy tenant relations. It is important to remember that attaining a high tenant retention rate largely depends on how you, as the landlord, focus on establishing a good relationship with the renters.

Effective communication stands out as the most effective tool in fostering and maintaining a positive relationship with your tenants. Failing to respond quickly to tenant requests is a major cause of misunderstandings between property managers and tenants. If you are managing a rental property in Fort Worth, here are some tips to help.

Agree on Communication Preferences

In the modern world, people utilize various channels such as text messaging, social media, emails, and calls to communicate. Some tenants prefer texting as the primary mode of communication when raising their issues to the landlords of the property managers. Many tenants find communicating through emails as the best option, while others prefer one on one conversation. Phone calls are also a convenient communication method that is especially useful.

It is important to include some basic information in the welcome letter about communication. For Example:

For swiftest possible responses, kindly use the communication channels outlined below in the corresponding scenarios:

Phone calls

Call to report urgent cases such as water gushing out of plumbing systems and other emergencies.

Text Messages

Text to ask non-urgent questions or concerns, especially late at night.

Emails and socials media

We will post information that the whole property needs to know. Feel free to ask questions or voice concerns this way as well.

Website Resources

Use the information listed our website when requesting changes of your lease or submitting maintenance requests.

It is also essential to discuss your communication preferences with your tenants in person so they can tell you which methods may be best for them. Offering several means of communication upfront enables the tenants to communicate in ways that work for them when the need arises. Such an initiative increases the possibility of tenants getting in touch with the property management company in case something comes up. Once you establish the communication channel that your tenants prefer, stick to it to avoid any confusion.

Establish an Effective System for Tracking Maintenance Requests

If you want to boost tenant retention rates in your property, you should invest in a quality maintenance program. Poor property maintenance is a big reason why many tenants decide to move out and stop renewing their leases. Proper maintenance of your property will maintain the value of your property and help keep your tenants happy. Setting up an effective and easy-to-use maintenance request and tracking systems will help the tenants find the process of reporting issues and tracking restoration requests easy. Such a tracking system will enhance transparency to the property managers and renters equally.

Plan on How to Collect Money for Repairs

At times, tenants may place maintenance requests for damages they have caused themselves. If you establish that tenants owe you any money from repair expenses, you will only get that cash if you are able to clearly communicate the message. Let the tenant know how you would like to recover such expenses. Always provide a written explanation to the tenants, even if you intend to cover the cost with their security deposits. This will help you prevent unpleasant disagreements that occur when the lease expires. It will also give you peace of mind when you may be busy handling move-in and move-out.

Outline Procedures on Dealing with Late Rent

Late rent payment is a major issue that can sour the relationship between tenants and property managers. Such incidents can still occasionally happen despite the credit checks and tenant screenings. You will most likely have to deal with issues of late rent payments during your time as a property manager. It would be best to have a solid plan regarding the procedures of dealing with late rent payments. This will help ensure that these inevitable scenarios go smoothly between you and the tenants. Remember to communicate such procedures to the renters before such a scenario occurs. A good way to do this is to:

Check your records thoroughly:

It is essential to confirm that the tenant is late in paying rent before you take any action.

Reach Out to the Tenant Informally

You are not legally required to do this, but it is of great help in establishing a good relationship with your tenants. It is crucial to send a brief text message or an email to confirm the status of the rent. Perhaps your reliable tenants got held up by issues that made them forgot to pay the rent in time, or their checks got misplaced in the mail as it happens sometimes. At times, they may be undergoing a temporary financial hardship that you can efficiently work through together. In any case, reaching out to your tenants can greatly help you get a clear picture of what may be happening to them and how you can both achieve the best results.

Send a Rent Overdue Notice

This notice should follow once you establish that the lateness of the rent payment was not an honest mishap. The document should stipulate what the tenant is to pay and state your next course of action. You may forward this notice by hand, mail, or email, and remember to keep a copy for your reference. You may want to work with your lawyer to help you draft a professional past due notice.

Give the Tenant a Pay or Quit Notice

Ideally, this comes as the initial move toward an eviction process. You should serve this notice when a tenant fails to pay the rent even after obtaining a past-due notice from you. The notice is a legal document and it will be better if you involve your attorney when issuing.

Involve Your Eviction Lawyer

If all your efforts to obtain the rent fail, you will probably have to launch an eviction process. Review your lease agreement with the tenants follow the necessary procedures as you request the tenant to leave your property. It may not be a friendly process to everyone, hence the need to work closely with your lawyers at every stage.

Ensure Friendly communication

Tenants will always know who their property managers are, but not all renters feel like they may have a seamless working relationship with them. Your objective as a property manager in such a case to ensure everything runs well while maintaining friendly communication. Such communication with the tenants will enable the renter to communicate to you comfortably about any issue that may arise. It can go a long way to briefly introduce your company to the renters and ask them about their lives and interests. This interaction will show the tenants that you care about them and are interested in knowing more about them. You may go a step further by considering sending a personalized holiday card each year to your clients.

Respect the Tenant Space and Privacy

It is not a good idea to show up unannounced to the tenants’ home or apartment and expect then to allow your access to their premises. The property becomes their private space the moment you sign off the lease agreement, as long as they adhere to the basic rules. This means that you lose the right to move in and out of the property any time you wish without prior notice.

Always notify the tenants any time you need to show up for maintenance works so that they will not be surprised anytime you ring the doorbell. Some clients may not mind when you show up for repairs, but it is better to let them know ahead of time.  Use text messages and phone calls to get in contact with the tenants to alert them on any issues coming up.

Paying a visit to the property is occasionally necessary, but make sure you give prior notice. Failure to do this may make the client feel like you are invading their privacy.

Timely Routine Property Inspections

Ensuring that you have professionals to inspect your properties will save you a lot of money and resources that you may otherwise have to use to repair severe damages. The inspections keep your property in good shape and habitable while keeping the tenants happy. Conducting regular inspections shows the tenants that you are proactive in keeping your property in good condition and mindful about their welfare. It is during these inspections that you can ask your clients about any possible upgrade they may like so that you can consider it.

Ensure you let the clients know the significance of the inspection and give them notice of when they should expect you for such activities. All you intend to do is to create a positive impression of proactively inspecting your property for major appliance issues, leaks, paint status, and drips.

It can be difficult to keep up healthy relationships with all your tenants, maintain the properties, and keep everything organized. Let us help! Specialized Property Management in Fort Worth is a professional property management company that can help you and your tenants stay organized and happy. Contact us today for a quote! 817.886.9220

Resolving Landlord and Tenant Disputes

If you’re thinking about managing your own property in Fort Worth, you should be prepared to deal with disputes that will undoubtedly happen with your tenants. Proper preparation will protect you from being caught unaware of any dispute. Instead of heading to court every time a dispute arises, you can explore several other avenues to reach an amicable solution.

It is imperative to state in your lease agreement the possible steps that you may take to resolve a dispute. Here are a few tips that might help.

  • Know the tenant/landlord laws in Fort Worth, TX

The best strategy to minimize or resolve disputes is by taking steps to avoid them before they even happen. Many property management issues arise because either of the parties may not be aware of breaking the lease contract or not familiar with the relevant laws. Dedicating time to learn the housing laws and keeping up to date with any changes will help you resolve conflicts with your tenants and make you a better property manager.

  • Always keep your cool

Avoid losing your temper when a situation arises, even if your tenant is overwhelmed by anger. Ensure you remain calm and try your best to address the issue on your own. If you face challenges or realize the tenant is not cooperative, you may seek court intervention. However, remaining calm will ensure that you represent your company in the best ways possible.  Most issues with tenants can be resolved if both sides discuss everything thoroughly. Do not let anger overwhelm you even when it is justified. There may be viable remedies to a situation, but both of you may be letting things get out of hand due to misunderstandings and high tempers. In such a scenario, working everything out with your tenant alone is the cheapest and most practical solution.

  • Meet one on one

You may have exchanged bitter words with your tenant over the email or phone in some instances. A face-to-face encounter will help you understand where they are coming from, and vice versa. Meet in a neutral location where each of you feels safe and can strike a lasting solution.

  • Look for an experienced mediator

If you try with minimal or no success to resolve a dispute, seeking the help of a professional mediator may be of great help. Property management can be stressful, so having a patient professional to help guide you through disputes can be life-saving. Legal mediators are trained to handle conflicts that may occur with rental properties. Make proper use of these experts to restore a peaceful coexistence with your tenants.

  • Turn to arbitration

Arbitration works like mediation, but it binds conflicting parties. The arbitrator will listen to both sides of the issue and provide a binding verdict to which both parties must adhere. You should avoid taking this step if you believe you are wrong. Instead, take the responsibility, own up the situation, and make efforts to resolve it with your tenant.

  • Normalize keeping records

Ensure you document all that transpires between you and the tenants. A paper trail will always offer you the best defense. If a tenant has been violating lease agreement, faulted property rules, or made irrational demands, your documentation can assist you in proving your points.

Keep files for all your tenants and record everything that transpires between the two of you. Presenting such documentation to a tenant may be the right approach to dissuade him or her from forwarding the case to the court.

  • Consult with an experienced real estate attorney

You can involve the lawyers in resolving a dispute even before it reaches the court of law. As a property manager, your lawyers can get in touch with your tenant’s attorney to get a viable solution to the dispute.  In some instances, disputes arising from rental properties fall under the small claims court. This approach is usually more convenient than taking the case to a criminal or civil court. Choosing to solve the dispute with your tenants using this strategy will help you get a faster resolution.  Unfortunately, however, there may be times when you have to take your tenant to a criminal or civil court if you have exhausted other alternative avenues for possible resolution.  Ensure your attorney is very familiar with property management laws to prosecute the case successfully. Be ready to provide all the relevant documentation of what has been happening between you and the tenant.

Handling tenant disputes can sometimes be difficult, time-consuming, and stressful.  Our Specialized Property Management team in Fort Worth deal with difficult property management issues every day.  We have the knowledge, expertise, and proven systems to help not only resolve disputes but with many other property management tasks. Contact us today for a free quote and learn how we can help you will all your Fort Worth property management needs!  Call 817-886-9220

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Find Success with Specialized Fort Worth Property Management

Getting into the real estate business seems like an easy and fast way to make money to most people, but with real estate, it’s more about the long haul than the quick fix. Many who get into it and don’t know what they’re doing realize that there are many more costs to pay than rents to collect at the start. It takes patience, persistence, and a reputable Fort Worth property management company, like Specialized Property Management to see the most return on your investment in the end. Consider the following things that a property management company can help you with, saving you both time and money when managing your rental property. 


Without a good marketing strategy, potential tenants won’t know where to look for housing or to even consider your property. Rather than assume “if you build it, they will come”, it’s crucial to have an advertising plan in place. At Specialized Property Management in Fort Worth, we have access to resources that you don’t, like getting your property listed on several major real estate listings as well as our own available property list. The first thing you want to avoid is a vacancy where you have to pay the rent on your property while waiting for tenants. Specialized has a proven method for decreasing vacancies and earning you more money. We will also walk through your home with you to get it looking “rent ready” by making small repairs, cleaning, and improving curb appeal. With us, you can rest assured that your property won’t be vacant for long. 

Tenant Selection

Finding good tenants isn’t as easy as you think, and these days tenants can find ways to falsify information. If you don’t know the 5 potential tenant red flags as well as the Fair Housing laws and local regulations in Fort Worth, you may find yourself owing costly legal fees for simple mistakes. Trust Fort Worth property management companies like Specialized Property Management to perform tenant background and credit checks for you. We’ll also perform any other applicable checks into your prospective tenants to legally make sure they’re going to be responsible and not cost you more money. We’ll also handle rent collection, create the lease agreement, perform lease signing, and respond to tenant calls and complaints. With our proven tenant selection system, you can rest assured that you’re getting the best tenants and avoiding vacancies as much as possible. With the addition of a tenant and owner portal on our website, you’ll have constant access to information about your home anytime and from anywhere. 


“Maintenance is no big deal,” one of the biggest assumptions that new rental property owners make. They usually don’t calculate enough cost for maintenance issues into their budget or factor it into rent payment. On average, maintenance costs for a year equals about one and a half month’s rent. If your home is renting for $1,000 a month, make sure to plan on $1500 in maintenance costs. They also assume that issues will be easy to resolve, but this is rarely the case. If you are not responsive to tenants who have a complaint they will feel unheard and frustrated. Fixing issues quickly and effectively, no matter how often they arise, is crucial to your success as a property owner. With Specialized Property Management in Fort Worth, you won’t have to worry about any of the above. Our customer service is available 24/7, so we always respond promptly and professionally to tenant calls. We also partner with national brands to keep repair costs minimal and keep tenants happy. Additionally, we’ll set up regular walkthroughs and inspections to make sure that your property is being taken care of, the property’s value is increasing, and any small maintenance issues don’t turn into bigger, more expensive ones. 

Reduced Liability

It’s our job as one of the top Fort Worth property management companies to know the ins and outs of local, state, and national codes and safety standards. If you don’t utilize our help, you could be drowning in legal fees for breaking regulations you didn’t even know about. By letting us help you, you’ll be protected from legal fees and lawsuits that could arise, saving you a lot of money in the end. Using other smart strategies for limiting liability as a landlord like good insurance and privacy protection are other areas where we can advise you as well. 

Reduced Vacancies

Avoiding vacancies isn’t just about advertising and tenant selection. Your relationship with your tenant is also very important. Being responsive to maintenance calls should be your priority, but you should also have clear, professional, and frequent communication with your tenants. When tenants like their landlords and feel heard by them, they will be more likely to continue renewing their lease year after year, increasing your cash flow. Check in with them periodically, making sure they’re happy, asking if repairs are satisfactory, and if they have any concerns. Specialized Property Management in Fort Worth makes the effort to contact tenants frequently for you. Another way to avoid vacancies is to be pro-pet. Many people won’t even consider living in your property if you won’t allow pets. Tenants will want to stay longer if you allow their pet and you can set specific pet policies to ensure that your property is protected. 


You want to be available once your tenants are moved in, but before that, when you’re in the advertising phase, you’ll be the first point of contact for people who are interested in renting from you. Calls will start coming in and you’ll need to clear your schedule. Plan on taking the time to show your unit, answer questions, and have lengthy conversations with all the people you meet. If you aren’t available, you risk losing potential tenants and future income. When you hire a Fort Worth property management company, they will be the first point of contact instead of you. You’ll be able to go about your normal schedule and not have to worry about being constantly available, because your property management team is doing it for you and in a way that represents you well. 

Office Work

It’s stressful enough to own a property without having to worry about having perfectly organized documents for everything. Office work in property management can be complicated and time-consuming, consisting of mundane tasks like keeping accurate records, preparing annual reports, accounting, contracting maintenance work, creating budgets, and writing lease agreements. The work will always be there, so being on top of it is really important for the success of your property ownership. Specialized Property Management in Fort Worth can help lower your stress levels by keeping careful records and doing all the office work for you. They’ll help you stay organized which in the end, will save you a significant amount of time, hassle, and money. 

Class Attendance

Did you know that if your property is in a Homeowners’ Association community, you are required to go to HOA meetings? It’s also advised that property owners take classes that educate about rental laws, tax information, and the daily duties of property managers. Additionally, it’s always a good idea to go to county meetings, property investment courses, and local board meetings, where you’ll learn all about owning a rental property. The nice thing about hiring a Fort Worth property management company is that they already know everything you’ll be learning in these classes, and can help you manage all other landlord responsibilities. At Specialized Property Management, it’s our job to know everything there is to know about rental properties and we can handle the intricacies for you. 

Increase Property Value

Owning a property is great but keeping it’s value up or even increasing it is important if you want to continue to make money on it. Some things you can do to increase the value of your home and consequently, charge more for rent, are:

  • A fresh coat of paint – this is a simple way to add value to your home without spending a lot of money. 
  • New carpet or flooring – even if your home is perfectly fine, renters may be easily turned away by stained carpet or cracked floors. 
  • Updated fixtures – new lighting and kitchen and bathroom fixtures are inexpensive and relatively easy to install. Taking the time to replace outdated items will make a huge difference.
  • Energy-efficient appliances – if tenants are paying for utilities, they’ll be more drawn in by energy-efficient items. These things are tax-deductible if you buy them for your rental. 
  • Curb appeal – make the first impression of your property a good one by adding a few flower beds, making sure the lawn is green, and maybe a tree or two.

Specialized Property Management in Fort Worth can help you with all of the above rental property ownership tasks. After all, with over 30 years of experience, we’ve truly seen it all and know what to expect. We’re educated on all of the ins and outs of managing rentals and can handle everything from maintenance calls to rent collection. If you’re ready to decrease the stress in your life, save time and money, and increase your passive income, contact Specialized Property Management today and learn how to get started. 

Reducing Vacancies in Your Fort Worth Rental Property

With a vacant Fort Worth rental property, you’re hurting your return on investment (ROI). A vacancy costs you rental income that you’ll never be able to earn back. Not only is a vacancy expensive, it also puts your property at risk. Without a tenant in place, you can’t be sure that everything is working. A leak that’s left unnoticed for a month can turn into a disaster.

When you do find yourself with a vacancy, you should use the time to make any necessary repairs and cosmetic upgrades. Most turnovers between tenants can take a few days, especially if the property is well-maintained. Avoid longer vacancies, and if you really want to keep your property rented, consider working with an experienced Fort Worth property manager.

There are a few things you can do to prevent a long vacancy period. Read more

Real Estate Property Management Company Shares Landlord Tips

At Specialized Property Management Fort Worth our team works hard to make sure your investment is a success. After years as a top real estate property management company, we specialize in keeping your property running smoothly and efficiently so you can maximize your cash flow. With the proven processes that we have developed over time, we know exactly how to avoid common, and uncommon, mistakes. These mistakes can lead to fines, costly repairs, and even evictions. Below we share with you the top mistakes landlords make, and what you can do to avoid them.

Leasing Delays and Extended Vacancies

One of the fastest ways to lose money in the rental property market is by having an extended vacancy. Not only are you losing out on the rent each month, but you are also still incurring expenses such as taxes and utility costs. Many things can factor into a leasing delay. For example, if your current tenant is still living in the house when a potential tenant is looking at the house, they are less likely to rent it. A lack of curb-appeal is a turn off for many applicants and could mean they decide to rent somewhere “prettier”. Failure to run background checks promptly or get leasing documents signed leads to even more delays. With processes in place and experts on the job, you won’t have to worry about any of these leasing delays or losing money. For more information about how we deal with vacancy days check out this post.

Poor Rental Property Selection

Location, location, location! It may sound cheesy, but this saying holds a lot of truth. Before you even purchase a rental property, you need to select the right one. What amenities does your neighborhood have? Are there good schools and restaurants nearby? If you’re curious how a certain neighborhood stacks up, check out their walk score. You can see how the local schools are rated. Talking to neighborhood residents and property managers will also help you determine the quality of life in an area. Choose a home that has at least 1,500 square feet, three bedrooms, and a good layout. Finally, make sure you compare rentals around the area to find out average rent prices and time on the market. For even more tips on rental property selection read our blog post on the subject.

Property is Not “Rent Ready”

Imagine going to a showing at a potential rental home and seeing broken light fixtures, trash in the yard, and the current tenant’s dirty socks on the floor. Even if the property manager promises repairs will be made and professionals will be called in to clean, the first impression has already been made. Before you put your rental home on the market, your current tenant must move out completely and you must perform any needed repairs. Landlords who skip these steps often end up with longer vacancies because they drive away potential tenants. Show your home only when it is looking its best. Touch up paint, fix anything broken, have professionals give the home a deep clean, and you will reap the benefits of patience. Read here to find out exactly how we work to make your property rent-ready.

Inadequate Tenant Qualification

How do you know you are getting a reliable tenant? It all starts with strict tenant qualification standards. Some Fort Worth rental management companies decide to skip this step or only require a credit check. But even if a tenant’s credit is good, their income may not adequately cover the rent, they may have a criminal record, or they have a previous eviction. At Specialized Property Management Fort Worth we know that screening tenants thoroughly reduces your risk of late payments, property damage, and eviction, so we make it a priority. For more information about our strict tenant qualifications read here.

Negative Tenant Interaction and High Turnover

As an experienced real estate property management company we know dealing with tenants can often be fraught with emotion. This is especially true when you are renting out a home you used to live in and still love. The truth is most tenants don’t take care of the home with the same level of care an owner would. The frustration, anger, and other feelings you have can easily damage your relationship with your tenant. If a tenant is has a bad experience, they are unlikely to renew their lease, leading to a high turnover rate. In the most extreme cases, negative interactions ensue and can lead to an eviction. To avoid negative tenant interactions, you must first take a step back. Make sure you are treating your investment as a business, realize most tenants don’t upkeep a home as a homeowner would, and be clear and consistent in every interaction. Many homeowners find a third party company like Specialized Property Management Fort Worth is very helpful in avoiding negative interactions. To learn more read this post.

Inadequate Rent Collection

Rent collection processes often feel burdensome, particularly if you are not offering a convenient online payment option. According to a survey by Citigroup, the majority of Americans have paid a bill late. The top reason is not that they did not have the cash, it is simple forgetfulness. Set clear and firm expectations with your tenant when they sign the lease so they know what day to pay rent, when the rent is considered late, what fees will be applied to late payment, and when you will start the eviction process. To make paying rent easier, you should offer automatic online rent payment. Most Fort Worth rental management companies, like Specialized Property Management Fort Worth, offer automatic rent payment so your tenant is never late and your cash flow never slows. Read more about our rent collection process here.

Costly Violations

Rules and regulations abound in the rental property industry. These rules exist for the protection of landlords and tenants alike, but that does not make remembering them easy for landlords, particularly if being a landlord is not your full-time job. Also, some landlords cut corners thinking it will save them money or boost their cash flow but end up paying more in fines and legal fees. Here is a brief list of the many regulations property owners need to follow:

  • Americans with Disabilities Act
  • Texas Fair Housing Law
  • Habitability laws
  • Local smoke detector regulations
  • Trust accounting laws

A real estate property management company has the experience, knowledge, and proven processes to navigate these regulations for you. To learn more about legal risks and how Specialized Property Management Fort Worth can help you avoid them read this post.

Neglecting Inspections and Maintenance

Regular inspections and proactive maintenance are important for the long-term success of your rental property investment. Imagine this scenario: your tenant is half-way through their lease and ready for a mid-lease inspection. You know their AC needs a check up too. However, the inspection and maintenance will cost at least $250 and you decide to save that money and skip the work. A week later your tenant discovers a pipe has been slowly leaking for a few days, causing water damage in the bathroom. Then the AC stops working and the repair person states that the build-up from not cleaning the ducts has turned into an expensive problem. Now instead of $250, you are looking at $2500 in repairs. You see how a small upfront cost can turn into big savings down the road. For information about what to expect from a property inspection read this post.

Self-Management to Save Money

Often property owners will decide to self-manage so that they can save money. This is a great idea in a perfect world. But, unfortunately, we don’t live in a perfect world. If you look at a cost breakdown, most property owners end up saving money when they hire an experienced real estate property management company. Here are just a few ways Specialized Property Management Fort Worth can save you money:

  • Local experts will guide you to the right property and price it appropriately.
  • Experienced property managers handle tenant interactions for a lower turnover rate.
  • Our team will help you avoid costly management mistakes.

Fort Worth rental management companies are not all the same. Specialized Property Management Fort Worth has experienced property managers who can make your investment a success. For a free rental consultation call Specialized Property Management Fort Worth today.

Arlington Property Management Companies Share Small Closet Solutions

Small closets in your rental property can be a big issue for tenants and can even be a dealbreaker for some applicants. Renting a space without sufficient storage in the closets and other areas mean some tenants are forced to rent an off-site storage unit. Offsite storage units are expensive and inconvenient, and chances are potential tenants would rather rent a home that works for their needs. To make your property more desirable, Arlington property management companies can show you how to make the most of the closet space you have.

Making Small Spaces Feel Bigger

There are ways to make your storage spaces seem bigger, without adding any square footage or closet systems. Check out these cosmetic fixes that give the illusion your tiny closet is much bigger.

    • Mirrors – Adding a mirror to the door of your closet is like an optical illusion that will make your closet feel brighter and bigger.
    • Lighting – If your closet space doesn’t have a light consider adding one. Inexpensive, small push lights are easy to add to any closet.
    • Paint – Closets tend to be dark and cave-like. Make yours feel brighter and bigger by painting it white, or another light neutral color.

Most Arlington property management companies can help you find trustworthy vendors for painting, hanging lights, and other odd-jobs around your rental home. Specialized Property Management Fort Worth can even schedule these updates, inspect the work, and upload pictures to your owner online portal.

Add Shelves, Hooks, And More

If your rental home’s closet has no shelves, rods, or other built-in storage, it is more of a tiny, pointless room. If that is the case in your rental home’s closets, we have solutions. These closet additions will make that tiny space more usable, and your tenants will be grateful for the help keeping their closets organized.

    • Shelves: adding at least one shelf in a closet can make a big impact. Shelves can be especially helpful in tall closets as they turn the top of the closet from wasted space into working storage.
    • Rods: bedroom closets without a rod to hang clothes can be especially frustrating to tenants. Rods are inexpensive and available at most home improvement stores and online retailers.
    • Hooks: add hooks to closet doors, bathroom cabinets, and other small spaces to give your tenant a little boost of usability. Hats, scarves, belts, and other accessories can be put on these hooks freeing up space inside the closet.
    • Built-ins: if you want to put a little more money into the project consider adding built-in shelves, rods, and drawers to a closet. These types of built-in closets mean your tenant doesn’t have to provide their own, which can be a big draw for some.

Other Solutions for Property Owners

Arlington property management companies can help you in other ways too. For easier Arlington residential property management Specialized Property Management Fort Worth offers these services:

For Current Property Owners If you think small closet space is holding your rental back from attracting quality tenants, you may want to do a small remodel. An experienced property management company will help you figure out all the details of remodeling to increase storage space. From choosing the right layout to picking top-quality vendors, your property manager is here for you.

For Future Property Owners If you’re still looking for the perfect investment property the local experts at Specialized Property Management Fort Worth can help. We know closet size is a big issue for tenants in some areas, and we can advise you on what else to look for to make a good investment.

Arlington Property Management Companies Can Help

An experienced property manager is a valuable asset for every rental property owner. Property managers have knowledge that comes from years devoted to making sure rental homes are rented out quickly, and the tenants are happy. If you’re not sure how to make an awkward living space appealing to potential tenants, think about calling a local property management company for help.

Services Specialized Property Management Fort Worth Offers

Specialized Property Management Fort Worth gives property owners experience, professionalism, and proven processes. Our property managers have the expertise you need to make your rental investment into a success. If you don’t own property yet, our property managers can guide you to the right one. The right property manager will take their knowledge of what tenants want in a rental home and help you make a great investment. After you’ve made a great investment choice, your Arlington residential property management company will make sure everything runs smoothly and efficiently. Here are a few of the services we offer:

    • Inspecting – Regular property inspections will save you money by pointing out potential issues with your property or your tenants.
    • Maintenance – Regular home maintenance is important but can be a hassle to an overworked landlord. Leave it to the professionals at Specialized Property Management Fort Worth, and your home will shine!
    • Showings – Whether in person or virtually, our showings will highlight the best things about your property and make it stand out from the competition.

But we offer so much more! Our property managers take care of the whole rental process and are there for you and your tenants 24/7. To find out more and schedule a free rental consultation call our offices today.

Smart Fort Worth Property Managers Attract Millennial Tenants

The Millennial generation is in the news every other day. This generation has been accused of ruining things from the 9-5 workday to bars of soap (according to a list compiled by Marketwatch). While millennials may not be ruining everyone lives, it is true that times are changing and the millennial generation is leading the pack. How should the rental housing market respond? Below, we discuss who millennials are, what they want, and how a Fort Worth property manager can help you attract millennial tenants.

Who are Millennials?

To start with, who are we talking about when we talk about millennials?

  • Young(ish): The Pew Research Center defines millennials as “those born after 1980 and the first generation to come of age in the new millennium.” Generally speaking, as of 2018 millennials are 18-38 year olds.
  • Tech-savvy: This group has seen rapid advancement in technology, and is the first to come of age in a world with access to the internet and cell phones. Many work in tech industries, and it is hard to imagine any millennials without a smartphone in hand.
  • Large: In 2016 millennials overtook baby boomers to become the largest living generation. Pew also reports millennials make up the largest age group of renters at about 18.4 million. As such, it is important that rental property managers stay up to date with why millennials are renting and what they are looking for in rental homes.

Why are Millennials Renting?

As mentioned above the millennial generation is often blamed for “ruining” industries, which is in part because they have different values than the generations before them. Millennials tend to value freedom and experiences over stability and material things. In the housing market that translates into behaviors such as picking up and moving suddenly for a job and using their savings for travel instead of a down payment on a house.  Also, the average debt of this generation is in the tens of thousands, making home ownership seem like a far-off dream to many.

What Do Millennials Want in a Rental Home?

For millennials who don’t want or are unable to buy a home, renting a single family home is the next best thing. As this generation enters their 30s, they are more likely to start a family and search for a home that is family friendly to settle down in, even if it is only for a few years until their next move. This generation also likes to have fun, so being close to amenities and transportation is especially important. Lastly, the Washington Post reports that a majority of people in their 30s own pets, meaning that they will be looking for a rental home that allows pets.

Tips for Attracting Millennials from a Fort Worth Property Manager

Now that you know a little bit about millennials, how can you go about attracting them to your rental property? With so many millennials renting, you may think attracting them is simple. However, as mentioned above, millennials have different values than previous generations. Here are a few ways an experienced Fort Worth residential property management company can help you attract millennials.

    • Use technology to your advantage in marketing. Millennials search for rental houses online. If you don’t have an online presence, it is doubtful they will ever find your property for rent. A property management company can list your house on several websites and even create a video walk-through so potential renters can view the house virtually.
    • Consider your lease terms. With many millennials desiring a “no-strings-attached” type of lifestyle, consider lease terms that will not hinder this. If you’re having trouble finding tenants for a long-term (more than one year) lease, consider offering a shorter one, possibly even a month-to-month arrangement. Your Fort Worth property manager can help you draw up a lease that will be appealing to these shorter-term renters.
    • Update your home with smart technology. If you have to make updates, consider going with the “smart” version of these updates. A smart thermostat, for example, will let your renter control the temperature remotely from their smartphone. These smart updates have the bonus of lower energy costs, and may even give you a tax-deduction (always check with your tax advisor about this perk before buying).

Why Choose Specialized Property Management Fort Worth

Your rental property business will be more successful and more lucrative, if you hire experienced property management. Specialized Property Management Fort Worth gives its clients proven rental processes that have kept up with changing times and changing tenants. When you choose to take advantage of the business expertise provided by our Fort Worth residential property management here are a few services you will receive:

  • Online Property Listings: your property will be listed on multiple websites to ensure full exposure to renters.
  • Owner and Tenant Portals: you will be able to view reports and pictures from your property at any time. Your renter will be able to pay rent and submit maintenance tickets with the same ease.
  • 24-Hour Support: when your renter has an emergency they call us, at any time of the day or night.
  • Advice from Experts: our property managers not only have years of experience with what works in property management, but they also stay up-to-date with what works now, for millennial tenants and every other generation too. Why not put that expertise to good use and make the most out of your rental investment?

To start working with a professional, experienced Fort Worth property manager today call Specialized Property Management Fort Worth.

Positive Cash Flow and Fort Worth Rental Property Management

How can you stay afloat as a landlord when a big expense comes your way? If the AC goes out at your property, it could cost $5,000 to replace. If a tenant stops paying their rent, you will lose several months worth of rental income, plus the legal fees it takes to evict them. No one knows when an emergency will happen, but if you are prepared and have positive cash flow on your rental property, you can make it through any emergency that comes your way.

What is Positive Cash Flow?

Cash flow is simply what you bring in on your rental income minus any costs your property incurs. If your tenant pays $2000 each month in rent and you take out $1500 to pay your mortgage, taxes, maintenance, and any other associated costs, your positive cash flow is $500. When you have positive cash flow you are not only making a larger income; you can be better prepared for emergencies. Your Fort Worth rental property management team can help you figure out the exact numbers for your situation.

How Can You Increase Your Cash Flow?

There are a few key ways you can increase your cash flow.

    1. Tenant qualifications: highly qualified tenants are more likely to keep up with rent payments and take care of the home.
    2. Market rent rates: are you charging enough for rent? Look around your neighborhood to compare what other rentals cost and see if your rental is priced correctly.
    3. Proactive maintenance: large ticket maintenance items like new roofs or appliances will hurt your cash flow. Putting the time and effort into regularly maintaining these items will extend their lives and cost you much less in the long run.

How Fort Worth Rental Property Management Can Help Cash Flow

Many landlords think self-managing will save them money and increase their monthly cash flow. What they don’t take into account is are the complexities that come with property management. Specialized Property Management Fort Worth will help your cash flow by reducing vacancy days, setting the right rental price, scheduling maintenance and inspections, and avoiding costly regulatory fines. To learn more call Specialized Property Management Fort Worth today.

New Year’s’ Resolutions for Ft Worth Property Management

Your property can always be improving, and the property management Ft. Worth landlords turn to time and time again is here to help. Try these property management resolutions and discover how a little bit of effort can make a big difference at your rental property.

    1. Small Property Upgrades – Resolve to keep your property looking its best inside and out! Things like curb appeal or an upgraded bathroom require minimal effort but pay off big time when potential tenants see your home.
    2. Stay on Top of Maintenance – Being proactive when it comes to maintenance issues like changing air filters will improve the life and performance of your home’s systems. A small upfront cost can save you thousands in the long term.
    3. Respond Quickly to Tenants – When your tenants have issues, no matter if they are large or small, the best thing you can do as a landlord is to respond quickly. You can lower tenant turnover rates when you respond quickly to tenant requests.
    4. Communicate Clearly With Tenants – As any good Ft Worth property management company can tell you, communication with your tenants is key. Set clear expectations for how the property should be cared for, whose job it is to do certain maintenance jobs, and when you will perform regular maintenance and inspections. 

How a Ft Worth Property Management Company Can Help You Stick to Your Resolutions

If sticking to all your property management resolutions feels like a full-time job, that’s because it is. Owning rental property is a great investment, but if you are inefficient, don’t take good care of your property, or ignore your tenants, you could start losing money. Specialized Property Management Ft Worth can help you stick to your property management resolutions. Our experienced property managers make your home their priority. When you need help getting your home rented quickly, responding to tenant requests, or anything else in between, you can be sure you’re in good hands with Specialized Property Management Ft Worth.  Call Specialized for more information about how a good property manager can help.

Taking the Emotions Out of Your Investment

Fort Worth residential property management, property managers in Fort Worth

Property managers in Fort Worth know transitioning a house from your personal home to an investment property can take some adjustment. Tenants don’t often treat a rental home with the same care as a homeowner, which is difficult for many homeowners to observe. The truth of the matter is that your home is no longer your home, it is a business investment. Like all business investments, you need to treat your rental home objectively, not emotionally.

How Your Emotions Affect Your Tenants

Negative tenant interactions can arise when landlords feel too emotionally attached to their properties. When a tenant fails to maintain the property to the landlord’s standards it can cause tensions. The landlord may feel angry or wronged. These emotions are often what lead to negative interactions and tenants deciding to leave when their lease ends. Treating your property like a business venture is something your Fort Worth residential property management company can help with.

Tips From Property Managers In Fort Worth

If you are having trouble separating your feelings from your new business venture, we are here to help. First, you need to see yourself as a business owner instead of a homeowner. Second, understand that normal wear and tear happens to every home and details you may have personally kept up (such as landscaping) may not be important to the next residents. Don’t expect everything to be kept up exactly the same as when you lived there. Finally, if you plan to move back into the home in the future be sure you don’t let that cloud your judgement. Your investment needs to be treated as such until the day you move back in.

An experienced and professional Fort Worth residential property management company like Specialized can help you with this difficult transition. The better interactions you or your property managers have with your tenants the more likely those tenants are to take care of your home and stay for an extended period of time. Call us today to learn about all the services we offer.