5 Low-Cost Amenities for Happier Tenants in Arlington Property Management

Are you wondering how to make your rental property stand out from others in the neighborhood? For two properties in the same neighborhood that have similar square footage and number of bedrooms, why should a tenant choose your property? Try to put yourself in your tenant’s shoes and think about some amenities that would make a difference.

5 Low-Cost Amenities to Make Your Home Stand Out

  • Pet Policies: Many landlords assume pets are bad for property management. Arlington, TX, pet owners are usually willing to pay an extra pet deposit, and you may be able to charge higher rent than your no pet competitors.
  • Washer and Dryer: Most single-family homes in the Fort Worth area have hook-ups for a washer and dryer. Investing a few hundred dollars in a set will make for a desirable upgrade.
  • Off-Street Parking: Most tenants will not want to park their car on the street all the time. If your rental property doesn’t already have off-street parking, consider laying gravel or pouring a driveway.
  • Online Portal: Your tenants can save time and reduce hassle if they can pay rent and submit maintenance tickets from the comfort of their home. A good Arlington property management company like Specialized Property Management has this option for all properties they manage.
  • Updated Fixtures: Take a look around your home. Are all the fixtures up to date? Changing light fixtures or faucets can make a huge difference in the way a home feels, without having to spend a lot of money renovating.

Property Management Arlington TX Is Easy With Happy Tenants

The easiest way to reduce turnover, vacancies, and evictions is to make sure your tenants are happy. Keep your property well maintained and up to code, and you’re off to a good start. Giving your tenants desirable amenities means they are more likely to stay when the lease ends. You can make things even easier for yourself, and your tenants, when you hire experienced professional Arlington property management. Specialized Property Management has the years of expertise you need to keep costs down and tenants happy. For a free consultation call Specialized Property management today!

Tenant Retention Tips From Your Fort Worth Property Management

As a rental property owner, as with any other business investment, your goal is to make money. Tenant turnover can be a huge expense for property owners. Turning over a rental home is expensive because even when you don’t have major renovations to do you will have cleaning, rekeying, and other small tasks that can quickly add up. Plus, the vacancy time between tenants means no income for you. That is why the property managers Ft Worth landlords trust put together these tips for tenant retention.

Keeping Tenants Happy

The number one way to keep your tenants renting from you is by keeping them happy! Tenants are happy when their home is maintained, and their requests are met quickly. At Specialized Property Management we also do our best to make sure each need is met quickly and the tenant feels heard. Your Fort Worth property management makes this simple with an easy to use online portal and 24/7 response. Tenants can quickly pay rent and fill out maintenance requests through their portal. Specialized also has maintenance checklists to ensure your rental home is being taken care of throughout the year. Regular inspections are performed to make sure everything is in working order and up to code. When tenants see you care for your property they will care for it to, turning it from a rental house to a rental home.

Fort Worth Property Management Increases Tenant Retention

With you have full-time, professional property management, Ft Worth tenants know their need will be met and their voices will be heard. Specialized has almost 30 years in the rental property business, giving them the knowledge and experience you need in a property management company. For more information about all our services call Specialized today.

How Fort Worth Property Managers can help you Avoid Leasing Delays and Extended Vacancies

Fort Worth property managers, property management company Fort Worth

One of the biggest drains on your cash flow can be leasing delays and extended vacancies. It goes without saying that not having tenants in your home means no rent check coming in. But what can you do to make sure vacancies are as short as possible? Here are some tips from Specialized Fort Worth.

  1. Rent Ready – We can help with the rent-ready process as your property management company. Fort Worth tenants are looking for a place that is professionally cleaned, re-keyed, and up to date functionally and cosmetically before they view it.
  2. Right Price – When your home is priced too high it will dissuade many tenants from looking. However, pricing your home too low will cut your profits. Our local property managers will give your home an expert evaluation to find the best price for your rental.
  3. Marketing – An aggressive marketing plan is something Fort Worth property managers strongly recommend. Posting your property on 20-40 websites, using video tours, and posting high quality images will attract tenants quickly.
  4. Viewing – Most potential tenants want to do a physical walk-through of the property before signing a lease. Your property managers suggest making it easy for tenants to schedule a viewing of the property 24/7.
  5. Screen Applicants – Rigorous applicant screening including credit, background, employment, and rental history will all help you avoid problem tenants and issues down the road.
  6. Extended Leases – If your current lease expires at an inactive time during the rental season, consider extending it so it comes up for rent during the active season.

Keep Your Tenants Happy

We are the property management company Fort Worth landlords have trusted for almost 30 years because we know the most important piece to making your investment a success: keep your tenants happy! The number one reason tenants move out is poor service. Responding promptly and respectfully to tenant requests makes a huge difference when the time comes to renew.

Choose the Right Fort Worth Property Managers

The right Fort Worth property managers can make all the difference when it comes to shorter vacancies. Go with the industry leading property management company and let us help you get your property leased today. Call Specialized Fort Worth to learn more about our services!

Want to Avoid High Tenant Turnover? Ask Yourself Five Questions

Fort Worth residential property management

Want to reduce tenant turnover? Start with this quiz from the Fort Worth property management company, Specialized, with three decades of experience helping landlords like you turn a profit on their rentals.

The single largest expense for a landlord is:

  1. Vacancies
  2. Maintenance surprises
  3. Late payments

A home needing repairs and cleaning will stay vacant longer.

    1. True
    2. False

How much should a landlord budget each year to cover maintenance costs?

    1. Nothing
    2. $5,000
    3. Between 1-2 month’s rent

As a landlord, your customer is:

    1. The mortgage company
    2. Contractors
    3. Your tenants

Despite careful screening, seasoned property owners may see:

    1. Evictions
    2. Criminal activity
    3. Vandalism
    4. Accidents
    5. Lawsuits
    6. All of the above

Answer Key

  1. A. Vacancies are the biggest expense you will incur in Fort Worth residential property management because of everything you do to cover the rent and prepare your unit for new tenants. You lose the rent payment for that month, while you pay for cleaning, minor repairs, rekey services, utilities, lawn care, etc. Instead of money in the bank, it’s money out the door.
  1. A. True. In this market, your unit has to compete for a reliable tenant. Making the home rent-ready will help you attract more and better-qualified tenants. Is your rental a home a place you would want to call home? If so, interested applicants probably will, too.
  1. C. Anticipate and budget for maintenance. It’s inevitable. But how much should you put aside? The national average for maintenance costs on a rental home is one and one-half times the monthly rent. So, if your rent is $1,000 per month, save $1,500 a year for those times when your tenant calls about a leaky faucet. Budget more for older homes, less for newer homes.
  1. C. Your tenants are your customer. Responding promptly to their maintenance requests is the best way to keep them happy and, as a result, wanting to stay longer. When you proactively take care of the home, renters will want to take better care of it themselves. You set the tone for how to treat your investment.
  1. F. All of the above. For most first-time landlords, the property management process seems pretty simple. Before long, however, many experience problem tenants, late payments, collections, maintenance surprises, complaints from neighbors, etc. These unfortunate events are part of the daily business of Fort Worth residential property management, even when everything has been done to avoid them.

Bottom Line, keeping tenants is not easy, but it is worth it. The team at Specialized takes care of the realities of owning a rental property for you, so your vacancies go down, and your return goes up – without the headache. Because of our proven processes and dedicated team, landlords have trusted us as their Fort Worth property management company for over 30 years. Call us today, and we’ll explain how Specialized can do the same for you.

Happy Tenants = Tenant Retention Policy

Happy Tenants = Tenant Retention Policy

Keeping clients happy is key to the success of any business. Think of your renters as an unofficial business partner; their continued happiness means consistent income for you. There are various reasons a renter might leave your unit; however, Fort Worth rental management does everything within its power to eliminate any reason a tenant may vacate your unit that is in their control. Keeping the points below in mind when developing your customer service will help you maintain positive client relations and a happy renter base–and ultimately keep your units full.

Quick Response Time

A tenant’s patience only lasts so long before he or she becomes frustrated with your lack of response to a request. Rental property management in Fort Worth ensures speed when responding to any need by a client. For issues that cannot be resolved quickly, Fort Worth real estate management will at minimum make contact with the tenants and let them know when you will be available to address the concern. And then certainly follow through on that commitment once made.

Respect Privacy

Although you retain ownership of the unit, renters have a legal right to privacy. Beyond the legal requirements, there are additional ways to respect the privacy of your renters that they will very much appreciate. Rental property management in Fort Worth offers tenants plenty of advanced warning any time you need access to their unit. Giving specific dates and limited time frames of when you will visit the unit allows them to plan. Try limiting your overall access to the unit if possible.

Fair Prices

While the temptation to hike rental prices may be high from time to time, do not believe that consistent hikes will always help your bottom line. Vacancies are far more expensive than maintaining a fair and even slightly lower than market rental price. Everyone likes to be treated fairly, and consistent, and reasonable prices will be a great asset to Fort Worth rental management retention efforts.  When you have a tenant that consistently pays the rent on time, try to keep that tenant as long as you can.
Fort Worth real estate management will prioritize client relations for the benefit of your business. Not only are happy tenants long-term customers, but they are also great advertisements as they tell their friends of your great service and post positive feedback online, which is some of the greatest advertising. Ultimately, keeping the customer happy will ensure long-term tenant retention, which in turn makes your bottom line happy.

Avoiding Tenant Turnover

There is nothing like losing a tenant to kill your cash flow. Administrative, advertising, maintenance work to get a unit rent-ready, and showing costs are a few of the many hits your wallet will take when you have tenant turnover, not to mention the lack of rent checks during vacancies daysArlington real estate management has a few tips to help you keep your renters from jumping ship.

 Properly Screen Applicants

After meeting a tenant in person, it is important to complete proper screenings as part of processing an application. Background and credit checks will help you determine how reputable this potential renter will be. By thoroughly prequalifying future tenants, you’ll avoid those who have questionable items in their past and who are more likely to be short-term renters.

 Avoid Above Average Rent Increases

Arlington rental management is aware of market standards when it comes to rent averages. While annual rent increases are common, the profits you make from hiking the rent regularly will not cover the costs of rental turnover if tenants become frustrated with rent increases. Keeping rent in par with the area averages will help keep renters around. It is important to know the market your rental unit is in and keep your rent at the right amount for that market. Specialized knows the Arlington rental management market to price properties accurately.

 Promptly Respond to Tenant Requests

Quick responses to requests for repairs and other such needs is a vital feature to good management. Arlington real estate management knows that renters become disillusioned fast if management does not respond to complaints quickly. In spite of a myriad of other appealing features, a renter will leave if they feel a property is not managed adequately. Specialized has 24 hour call centers to help with those unwanted emergencies that come at the most inconvenient time. Fast proactive maintenance done by professional people is also important for both avoiding bigger maintenance problems in the future and keeping tenants comfortable in their home right now.

 Maintain Renter Relations

Open communication is key to maintaining long-term renters. The day a renter signs a lease should not be the last day they hear from you before moving out. Arlington rental management ensures all renters know how to easily reach them in time of need. Regularly touching base in a friendly, non-commercial way helps your renters develop a lasting relationship with you that will help them want to stick around. Also scheduling regular inspections at the time of leasing signing shows your concern for both tenant and property.