Ft Worth Property Management: Tips for Landlords

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How do you make sure your property is earning you money instead of costing you money? Owning rental property isn’t as simple as leasing your property and collecting rent checks. Marketing your home, screening tenants, regular maintenance, and dealing with legal issues are just a few of the problems that will arise when you own investment property. Your investment can quickly take your time and money if you aren’t smart about how you manage it.

PROBLEMS WITH YOUR RENTAL

Even the most seasoned, careful landlords encounter issues now and then. The key to success is how you deal with those problems to keep your costs down and your rent coming in. Do you know how to deal with problem tenants or late payments? What about lease violations, complaints from neighbors, or code violations? Despite careful tenant screening, many landlords also deal with evictions, vandalism, criminal activity, accidents, and even lawsuits. The fact is, many of these issues have nothing to do with your property and everything to do with the personal lives of your tenants. People are unpredictable, and stuff breaks. Your Specialized Team is here to help you with all of these unfortunate situations.

HOW CAN FORT WORTH RESIDENTIAL PROPERTY MANAGEMENT HELP?

The biggest cost landlords encounter is property vacancy. There are three ways to control vacancy costs.

  1. Make your property rent-ready: Complete needed repairs, so your property is able to compete for good tenants.
  2. Budget for maintenance: Don’t be surprised by the regular maintenance costs your home incurs. Be sure to budget at least one and a half months worth of rent per year for maintenance costs.
  3. Respond quickly to maintenance requests: Being responsive to your tenant’s requests will impact how long your tenant will stay. If you fail to fix problems quickly, tenants will look start looking for somewhere else to live, and you will have to deal with the turnover costs.

Specialized is a leading Ft. Worth property management company because we have the experience and resources to help you manage the day-to-day realities of owning investment property. We will help you control vacancy costs to turn your rental into an investment success. Give us a call today to hear about all our services.

How Property Managers, Fort Worth, TX, Avoid Extended Vacancies

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Avoid Rent Losses with Faster Leasing

When you hear crickets chirping at your empty rental property, it likely means your bottom line is dropping as is your confidence that your asset will turn a profit. Thanks to 30 years of service as Texas rental property managers, Fort Worth and in the surrounding area, we know how to keep tenants in your unit and money in your wallet. Our Specialized strategy focuses on three phases.

Prep and Price

First, we act quickly to prepare your home for leasing. Our checklist includes tasks such as key replacement, lockbox installation, and improvements needed to help your property rent faster. Secondly, we will determine an accurately rental price for your property. Our expert management team understands the local market and can help you find the perfect balance between competing and creating profit.

Cast a Wide Net

Just as a great photo requires a great subject, a worry-free property management requires excellent tenants. So it’s crucial to search carefully for them. Specialized offers clients a proprietary leasing process that advertises aggressively on the most popular rental sites. Then right on cue for our experienced property managers, Ft. Worth rental inquiries are treated seriously and are quickly responded to with actual property showings or online virtual tours. The more snapshots you take, the more likely you will find that winning shot and practically perfect tenant.

Sort Seriously

Screen. Screen. Screen. Our expedited, thorough background checks of every potential tenant over the age of 18 should help you find the quality tenants you want in your home. We cover criminal, credit, employment, and rental history. We take the task of screening tenant applications seriously because well-screened tenants stay longer and reduce costly turnovers.

The end. Or more accurately, our proven leasing process is the beginning of shorter vacancies, more reliable tenants, and longer lease terms. It’s a process that takes time, which is why we are here as your personal, experienced property managers. Fort Worth homeowners have trusted our experience for over thirty years to manage the rental cycle from start to finish, over and over again. All you have to remember is the password to your info-packed online owner portal where you will receive regular, clear communication and updates about your property without the time-consuming headache of self-management.

Cut the cricket soundtrack and pump up your peace of mind regarding your property by contacting your team at Specialized. We are eager to explain our ten-step process to faster leasing. Based on our 98% customer satisfaction rating, we know that our proven methods will maximize your profit and minimize your risk. If you like the sound of that, let’s talk. Call Specialized today.

Landlord-Tenant Tips for Successful Property Management in Fort Worth, TX

property management in Fort Worth

We live in a competitive world looking for instant gratification. If a tenant does not feel fully satisfied with the service we provide, he or she will quickly move on. Good customer service is the best way to keep tenants happy and turnover low. Property management in Fort Worth, TX should focus on tenant satisfaction by following these simple pointers:

1. Provide several paths for filing complaints

For a tenant to file a complaint they’ve experienced dissatisfaction with one or more aspects of their experience in your rental property. If the process for filing that complaint is also frustrating, it will be difficult for you to recover and regain a positive perspective from them of your services. By making the communication process quick and easy, your tenants are more likely to be patient and responsive through the process. A few options to include in terms of complaint registries include:

    • An email address to reach you directly.
    • A non-emergency phone number. Be sure available times for using this number are communicated clearly.
    • An electronic submission form via your website or tenant portal.
    • An emergency 24/7 hotline phone number for urgent needs.

2. Always respond

After receiving a complaint, Fort Worth property managers should respond promptly. A good customer service policy is that all lines of communication should be responded to personally by Fort Worth property managers within one business day. If for whatever reason you are unable to respond quickly, apologize for the delay and assure your tenants that their wellbeing is important to you and that you will resolve their problem quickly.

3. Update Often

Most problems take some time to solve. Giving tenants updates along the way will help them know you haven’t forgotten about their situation and that you are moving toward resolving it. Here’s how an update could work:

    • A tenant files a complaint by sending you an email.
    • You respond to the email within 24 hours to confirm you’ve received it and will start working toward a solution.
    • You hire a contractor to fix the problem, and you schedule a time for the repair. You then inform the tenant about the scheduled time of repair.
    • After the fix, you reach out the tenant again to confirm they are satisfied with the fix and that their concerns are completely resolved.

Make a habit of working with tenants quickly and respectfully when they have a concern. Our Specialized property management in Fort Worth, TX wants to help you keep your tenants happy in your rental home for long-term rental property success. Check out our incredible services at www.specializedrpm.com

Rent Cycle for Fort Worth Property Management

HOMESpecialized is the Fort Worth property management that knows the leasing cycle from rent-ready to lease renewal.

An important first step in that cycle is having your property rent-ready. Understanding what it means to have your property ready to show and move in can significantly reduce the number of vacancy days your property has. Property management in Fort Worth TX that takes the steps to prepare a rental property before it is ever shown to prospective tenants or even advertised will have greater rental success.

When a unit is vacant immediately make sure you have the property re-keyed. This is often a legal requirement in many places. It is a important safety precaution for you and your prospective tenants. Install a lock box for the convenience of future showings with leasing agents.

Now is a great time to take care of any repairs and remodels. But make sure that all cleanup is done before showing a home. Always remember safety and take care of any broken windows, mold, broken locks, exposed wires. The safety of your tenants should always be a priority to Fort Worth property management and should be taken care of long before someone is moving in.

Before you set that rent rate, Specialized can do a rent market analysis to determine the best rental rate for your specific location and unit.

When your home is professionally cleaned and all appliances checked and in working order, you are getting closer to being rent-ready. Keep utilities on so prospective tenants can really see what the property looks like in any weather and any time of day.  

Finally, take a good look at your property from the curb. Does it have that curbside appeal that will give the positive first impression you want. Just a little initial effort will make a big difference towards your leasing your property quickly and ensuring your investment is giving you a return.

Be the Best Fort Worth Property Management Landlord

Property management in Fort Worth put simply means dealing with people and things. People have unpredictable lives and things can break. New property owners do not always realize that managing property and houses is also managing relationships. Thinking of the individual while making management decisions can make a difference in how you respond to situations. Understanding a few steps to prepare yourself to work with people and things will make you a better landlord.

Consider the Things

Getting a unit rent-ready is a vital step in get that home rented. Never try to rent the home before the work is finished. Potential tenants shouldn’t have to try to imagine what a home might look like when repairs and remodels are done. You want your property to be as inviting as possible when it is shown. Completing repairs and maintaining the “things”  are money saving decisions that prevent bigger repairs later and can shorten the number of vacancy days of your property. Appliances and electrical units like air conditioners are also maintained for easier Fort Worth rental property management.

Consider the People with the Things

Always being prepared is a good rule of thumb for property management in Fort Worth.  A mistake many landlords make is not budgeting for future maintenance problems. A good estimation is to have at least one months rent in savings for possible repair needs. Here is where it effects the people. The number one reason for tenant turnover in the rental industry is maintenance requests that get no response. Imagine living in a home with plumbing problems, or heating problems and the problem never goes away. For the tenant the fix for the problem could soon be moving out to a new residence. And tenant turnover will always cost the property owner more money in unit preparation to re-rent on top of the repairs already needed. So good Fort Worth property management means being conscientious of the needs of the tenants and responding quickly to those needs.

Be the Landlord You Would Want

So if tenant turnover is caused by non-responsive maintenance request, then it is easy to understand why the number one Fort Worth property management focus is on tenant retention for your investment’s success.  Your tenant is your rental customer. Successful business keeps the customer happy so they keep wanting to buy what you have. In real estate that means you want your tenants to want to stay in your property. Communication, quick response to maintenance requests, and attentive managing all help the tenant landlord relationship. When you are the landlord that you want to have, your tenants will feel a genuineness to your business relationship. Then you are managing people and the things with financial success.