Regular Property Maintenance Helps Maximize Profits

One reason why you invested in property management in Fort Worth was to grow your wealth through rental income. The potential profit equals the overall revenue minus the expenses. Although you gain revenue from rent payments, you could increase profits even more if your properties have efficient utilities. If a property has faulty windows, damaged siding, leaky faucets, filters that are clogged, or other similar issues, you could be losing money, especially if the tenant is not responsible for utility payments. Because of this, it is important that you as the landlord perform regular maintenance or updates on areas that if left unchecked, can erode your profits.

Check Insulation
Insulating your rental property is a great way to reduce electricity bills. Although Fort Worth winters aren’t as bad as the winters in some other places, the summers can get unbearably hot. Insulation keeps homes cool in the summer and warm in the winter, but if the property is insulated poorly, the tenants will want to crank up the heat or the AC because their home won’t stay at a comfortable temperature. Open areas such as crawl spaces and attics are common ways through which heat escapes and enters. Other passages for heat and cold are the cracks and crevices on doors and windows. These unwanted openings cause unnecessary airflow.

Change Dirty Air Filters
Debris and dirt slow down the flow of air. This forces the HVAC to work harder and less efficiently. The filters must be cleaned regularly and replaced when need be. Dirty HVAC filters can bring additional issues including unhealthy air circulating within the properties. When dirt passes through the ventilation system components, it reduces their performance, which in turn requires more maintenance costs by paying qualified technicians to fix the problem. 

Stop Water Leaks
Water leaks in the faucets, toilets, and showerheads increases water usage. The small drips can raise the water bills up to 10% hence must be addressed. The heavier the leak, the higher the waste, and the bigger the water bill. A typical leaky faucet is about 10 drips per minute, which adds up to almost one gallon of water per day. A fast leak of 60 drips per minute wastes 5 gallons of water per day. Each drop of water costs you money, so it must be fixed as soon as it is spotted.

Seal Windows & Doors
Cool or warm air can easily escape through any cracks or openings around windows, or from worn-out weatherstripping around doors.

Inspect Home Exterior Paint and Siding
Holes, cracks, rot, or mold in or on your siding are easy to ignore, but will only lead to costly repairs later on. Perform routine home exterior walkarounds of your property and don’t delay repairing damaged areas. A high-quality home exterior paint will protect home siding for many years, so get it painted if you notice the paint is starting to crack, chip, fade, or blister.

All of these issues are hard to keep track of, especially with multiple properties, which is why you need a reliable property manager to keep everything organized and be able to perform the maintenance needed. Specialized Property Management in Fort Worth can help you maximize profits on your property with proper maintenance and routine property inspections.

Contact us today online, or call for a quote! 817-886-9220

Specialized Property Management Expands into Birmingham, Alabama

Specialized Property Management, has announced its expansion into Alabama. The Dallas-based rental management company continues to expand into select markets, providing unparalleled service to both individual rental property owners and large investors in Birmingham.

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

Or Contact Us Online!

Disaster Preparedness for Rental Properties

Even the most proactive and prepared property manager in Fort Worth will have to handle an emergency maintenance issue at a certain point. If you keep your properties in good shape at all times, you might not expect anything to go wrong. However, a sudden leak, a tree crash, electricity outage, or a natural disaster can be almost impossible to prevent, which is why it is crucial to have a properly crafted emergency preparedness plan. Such a plan will help protect your tenants, your properties, and you from major loss due to damages. The Specialized Property Management company in Fort Worth is prepared for such situations and has professionals team ready to perform emergency maintenance when needed.

Before a disaster strikes

The secret to preventing disaster is to expect the unexpected. This starts with assessing the properties and their vulnerability to disaster. Rental apartments, commercial buildings, and mobile homes come with different needs during emergencies compared to a vacation or single dwelling home.

Ensure you assess the risks and hazards in your area, especially those specific to the region. Hurricanes, wildfires, tornadoes, and floods are just some of the natural disasters that commonly occur in the Fort Worth area, and Specialized Property Management has methods in place to help prevent major loss. National emergencies and global pandemics are hard to expect, as is the case with the Covid-19 pandemic, but it is important to outline plans and safety measures that will protect both tenants and landlords from getting sick and losing too much money.

Emergency Preparedness Plan

After assessing your properties, all the fine details on the disaster preparedness plan are in your hands. However, it is prudent to consult with your insurers and other key agencies to confirm your plan’s completeness and its compliance with relevant policies. Ask these agencies the different types of contingencies and disasters that you can include in your plan.

Create monthly or yearly rental property safety checklists if you do not have them. Ensure you include items such as tripping and falling hazards as well as fire extinguisher details. Consider evaluating your office even if you work from home as your safety is crucial.

Create two versions of the plan

There should be a version for the office and the other for your tenants. The version for the tenants can be included in the welcome package alongside the rules and regulations. Always have both versions stored electronically and in the cloud for easy retrieval.

Consider including the following ideals in the tenant version of the disaster preparedness plan:

• Contacts for the local emergency response agencies

• Exit plan and diagrams

• Check-in plans and calls

• Security, safety, and health tips

• Pest safety

• Utility, mechanical, environmental, and plumbing issues

The office version for emergency preparedness plan can include the following items:

• Checklists for the maintenance

• Locations for the fire extinguishers

• Emergency agencies phone numbers

• Instructions and locations to shut off electricity, gas, and water

Important considerations to include in the disaster plan:

• Ensure all emergency exits and fire-safe staircases are appropriately marked. Include maps and diagrams

• Make use of routine maintenance checks on the fire, smoke, CO2 detectors, and fire extinguishers. Ensure they are placed in strategic locations, well visible with easy to read and clear instructions.

• Ensure you know all the safe spots on the property that you manage and within the community around and document them properly.

• Have plans for the tenants with special needs who may need extra assistance and support.

• Offer stickers to pet owners to identify rentals with pets.

Steps to Take During a Disaster

Communicate

There may not be much time during a crisis, but make sure you try the best you can to communicate. Look for reliable property management software with built-in emailing and text messaging capacities. Get templates in place to ensure it only takes a short while to get the word out and reach the target audience.

The use of social media is a great approach to convey messages to your tenants. People can easily access social media feeds in case of emergencies. For example, having a Facebook page for an apartment complex can keep tenants informed of any important notices. Finally, consider going door to door or chain calling to pass information.

Listen

Ensure you keep up to date with state agencies such as the Center for Disease Control and Prevention (CDC), Federal Emergency Management Agency (FEMA), and other regional and national disaster management agencies. Being informed will help you with resources and recommendations set out by state agencies for disaster mitigation. Also, listening to your tenants and the local community can provide you with vital information about the situation.

The Recovery Phase

Property Damages

Ideally, agencies such as FEMA and Red Cross will let you know when it is safe to reenter your property after a disaster. It is prudent to keep off any property that has been affected by the crisis until you get approval from the relevant agencies. Your safety and that of tenants should always come first. Once the agencies have allowed you to enter, your insurers will work on the facilities that may need repair or replacement. Establishing a healthy relationship with contractors early on is useful, but make sure you get the advice of your insurers in the process. Ensure you also keep your tenants informed all along the way.

After the Disaster

Once everything has settled, and normalcy resumes, life should begin finding its usual course. This should happen only when the disaster has been declared over. Ensure you continue communicating with tenants as you maintain code compliance. Update the disaster preparedness handbooks and office binders where necessary.

Our Specialized Property Management company in Fort Worth can help you, as a landlord, stay on top of everything, especially when faced with a disaster. Our team is highly trained and can help keep you, your properties, and your tenants safe. Contact us today for a quote! 817.886.9220

The Benefits Of Hiring A Property Manager In Fort Worth

Finding the right property management company in Fort Worth can be a lifesaver for landlords. It doesn’t matter how big or how small your rental property investment may be. Professional management can relieve stress, increase efficiency, and even increase your overall profit.

The benefits of hiring a skilled property manager add up fast.

Specialized Property Management in Fort Worth offers great prices combined with proven and seamless management services. These include the best practices for screening potential tenants and staying on top of federal, state, and local regulations that affect the real estate industry. Our clients always have instant access to custom reports on all aspects of their rental property.

Our professional property management include these essential services:

• Advertising and showing apartments, and screening applicants

• Maintaining the property

• Advising you on the optimal rents to charge for your property

• Conducting property inspections to uncover small issues before they become big problems

• Managing applications, verification documents and background information on tenants

• Collecting rent electronically and depositing it immediately into your account

• Conducting criminal history and credit checks on prospective tenants

• Maintaining communications with tenants and responding to emergency repair calls, non-critical questions, complaints and requests for upgrades

• Renewing leases

Property managers handle the stressful and time consuming situations so that you don’t have to:

Unfortunately, being a landlord to more than one or two families quickly becomes a full-time job for landlords who expected “passive income.” There are usually emergency calls at the most inopportune times. Maintenance, upkeep, and accounting can be expensive and time-consuming.

Hiring a property management company in Fort Worth frees up your time for traveling, working a regular job, hobbies, or simply enjoying a well-earned retirement. The cost can be minimal when you consider the many advantages and cost savings. Fewer vacancies increase your ROI so that you can enjoy being a landlord, earn passive income, and avoid the stress of daily management duties.

If you are looking for a property manager in Fort Worth, contact us online or call 817-886-9220 for a free consultation today!

fort worth tx property management

Hiring A Professional Team For Property Management In Fort Worth

Property management in Fort Worth has become increasingly challenging for investors and landlords who don’t have the resources to mitigate the risks of the Coronavirus pandemic. That in itself is a strong argument towards hiring a property management team, however, COVID-19 is not the only difficulty landlords have to face. Property management companies make things so much easier for rental property owners, that it is well worth the investment to start working with one.

Special Considerations in Today’s Efforts to Stop the Spread of COVID-19
Keeping up with all the evolving regulations aimed at stopping the spread of the Coronavirus can be exacting and fraught with hidden risks. For example, landlords must stay on top of federal, state, and local regulations. The federal government is exerting strong pressure on landlords to refrain from enforcing evictions for non-payment of rent during this high period of unemployment. The Federal Housing Finance Agency announced that mortgage payments for multi-family residences financed through Freddie Mac and Fannie Mae would be forgiven for owners who offer similar forbearance to their renters.

Professional property management companies have the resources and equipment to clean and disinfect properly, and they can afford to maintain enough staff to handle jobs that independent property owners can’t afford to be on top of full-time. The Specialized Property Management team is working to comply with recommendations for social distancing and increased cleaning of communal areas.

Property showings have become virtual, and professional companies have the resources to manage showings using video walkthroughs. Technology also makes it possible to handle lease renewals remotely. Cleanup after voluntary evacuations has become more detailed, especially in areas where people put their hands.

Cleaning and maintenance are two of the biggest benefits of hiring a team for property management in Fort Worth. Teams are protected from infection with face masks, gloves, social distancing regulations, and alternative ways to communicate with tenants. Property managers use the right disinfectants and cleaning strategies, such as increasing focus on common touchpoints in the cleaning process.

The Extraordinary Benefits of Hiring a Property Management Company
The many benefits of hiring out property management in Fort Worth include getting professional expertise, knowledge of local regulations, and discounts on equipment, furnishings, and landscaping tools. Specialized Property Management provides many beneficial services, such as:

Rental Management
Our professional team has the resources and knowledge to find qualified renters faster and more efficiently than private landlords. We know where to advertise to get the best response – whether it’s on local billboards, curated rental websites, or YouTube.

Showings
Video tours help to pre-qualify rental applicants faster and avoid unnecessary time spent conducting tours for people who wouldn’t be interested.

Screenings
We handle administrative jobs that often drive landlords crazy. Conducting background and credit checks are one of the biggest benefits of hiring professionals.

Inspections
Inspections are performed regularly to maintain the aesthetics of your property and identify essential repairs and upgrades. We also provide mid-lease inspections to ensure that the tenants are taking proper care of the rental property.

Document Management
Our company maintains all rental documents and application information as required by the Texas Association of Realtors. We also educate tenants on how to care for leased property and fulfill their obligations to qualify for the return of their security deposits.

Collections
Our team collects rent and deposit funds as agreed contractually. We also enforce rent collection with reminders, assessment of late fees, and initiating eviction procedures.

Maintenance
Ongoing maintenance by professionally skilled workers is one of the biggest benefits of hiring our property management team. We handle the tenant-requested work, preventative maintenance, and interior and exterior inspections.

Turnover Management
Managing turnover is an important part of a landlord’s job. At Specialized Property Management, we handle lease renewals, advise tenants on moving procedures, get properties in rental-ready shape, and find new tenants quickly. We also handle the post-moving inspections, assess damages, and refund remaining deposits.

Emergency Repairs
Emergency calls from tenants are one of the landlord’s biggest problems. Emergency calls can interrupt holidays, vacations, sleep, and personal contentment. It’s great to have someone who will handle emergency repairs promptly, especially critical issues like failed HVAC systems or broken water pipes.

Tax Benefits
The fees you pay for property management are fully deductible, which reduces the cost you pay for professional management services. These fees are summarized for monthly tax calculation, quarterly reports, and end-of-year taxes.

Professional Insights
Landlords often make the mistake of renting property to anyone to maintain cash flow, but accepting the wrong tenant can often result in greater expenses that include legal fees, property repair expenses, and bounced check fees. It’s better to screen tenants carefully before renting to them. Our team can advise tenants of their legal rights to avoid lawsuits or heavy-handed practices. Texas courts don’t accept ignorance of the law as an excuse when awarding judgments for landlord infractions, and stiff legal fees can add thousands of dollars to the costs of defending against a lawsuit.

Reporting
One of the things to look for in a property management company is multiple communication methods for reporting. The best companies provide a variety of custom reports that keep you on top of long-term repair needs, cash flow, maintenance reports, and adjusted income, which are based on monthly, quarterly, and annual income reports.

Dealing with Contractors and Subcontractors
Many private landlords hire day labor or a handyman when major repairs become necessary, but that practice can be especially frustrating and more expensive than you imagine. If the work is done improperly, it might cost more to fix the mistakes than hiring a professional in the first place.

Hiring the wrong contractor can also prove frustrating unless you have an efficient team that you’ve used before on call. Even if you have a reliable contractor, there could be scheduling delays and cost overruns for special projects.

Specialized Property Management has vetted in-house teams and outside contractors available to handle any construction or repair job that you might need. You can save on construction costs because the teams have been picked for efficiency and fair prices.

Getting Your Property Ready for Rental
Hiring a property management company can be a great help for new landlords because we offer a tremendous array of services. These include a platform for communicating with tenants 24/7 to respond to repair needs, answer questions, accept rent payments electronically, and post information about tenant responsibilities.

Your property management company can be a valuable business partner; that increases your annual profit. Experts can advise you about what rents to charge, establish tenant-approval criteria, and suggest upgrades that increase the cost-value of the property and the rental rates that you charge.

Qualifying Tenants
Qualifying tenants is a step that’s often skipped by new landlords; however, even experienced owners often lack the skills for picking the best-qualified tenants for a rental. Picking tenants who will stay long-term is the best cost-saving strategy in the rental business. The Specialized Property Management team finds tenants who will:

  • Rent property for a long time
  • Pay the rent on time
  • Offer fewer troublesome complications
  • Care for the property like homeowners
  • Pass a criminal background check

Did you know that you could be held liable in some cases if you rent to a known criminal who physically assaults another tenant? You must always follow the law in regard to equal opportunity rentals for people from any nationality, creed, race, or sexual orientation. Still, you can establish criteria that prevent renting to people with criminal backgrounds, poor credit history, or a history of evictions. It’s incredibly important to rent to stable tenants and families.

Choosing the right tenant helps to reduce repair calls, avoid litigation fees, and cut down on squabbles between tenants. Our property management team can screen hundreds of rental applicants, and we get a good idea of who will be a good tenant and who might prove troublesome over the long-term outlook.

Fast, professional upkeep and an easy way to pay rent can encourage any existing tenants to renew their leases. Together, these benefits of professional management can increase your return on investment, ensure prompt advertising and rental to the right type of tenant, and proper interpretation of federal, state and local laws that affect tenant rights.

Priceless Benefit: Peace of Mind
Not everyone is cut out for property management. Many people struggle just to maintain their own residences, and being responsible for multiple tenants in an investment property can be a nightmare for inexperienced landlords, those who become disabled, retirees, and those who inherit income-producing property.

Some landlords just grow tired of performing the day-to-day duties required. Hiring a team to handle property management in Fort Worth can restore your equilibrium and foster peace of mind. You can avoid tenant confrontations, maintenance emergencies, administrative red tape, and stress by hiring the right management company.

In the Fort Worth area, Specialized Property Management offers exceptional service that meets all the criteria of the best property managers. Call or contact us today for a confidential consultation and assessment of your needs. We can help shield you from the daily stresses of property management and deliver peace of mind.

Contact Us Online – Or Call For A Free Quote! 817-886-9220

Expert Property Management in Fort Worth

As a rental property owner, you want to avoid the stress involved in managing rentals, but you also want professional service from local experts that you can trust to manage your property well.

If you’re looking for property management in Fort Worth, the Specialized Property Management team is the best in the field. We have over 30 years of experience in the Fort Worth area and a 98% rating for customer satisfaction. Using the latest in digital technology, we have systems that have been proven effective in managing all aspects of property management: finding rental clients, enabling online payment, and much more.

Professional rental management companies save you time, money, and, of course, the stress that comes with dealing with the myriad of issues involved in managing a property. With the services of Specialized Property Management, you’ll no longer have to worry about long vacancy periods, poor tenants, or the dangers of high tenant turnover. You also won’t need to worry about meeting local regulations and complying with the laws that apply to rental properties. We will also make sure that you get the best insurance coverage for your rental properties at a cost-effective rate. Experienced property owners know that insurance is of vital importance when considering renting a property, you worked hard to buy your property and you should make sure it is protected no matter what.

The services that Specialized Property Management provide include:

• Inspections to ensure the property is attractive, safe, and ready for rental.

• Advertisement of the property across a wide range of websites and online search sites, as well as through traditional marketing techniques, such as posting a sign in the property’s yard.

• Both live and video walkthroughs of the property

• Screenings of potential tenants through rigorous background checks to find the most responsible tenants for your property

• Preparation of legal documents related to leasing the property–all in accordance with requirements of the Texas Association of Realtors

• Enforced rent collection with a strict but respectful process that avoids late payment.

• Maintenance done in a timely manner and regular inspections to spot potential problems and perform preventative maintenance

Specialized Property Management provides a web portal for you to access accounting statistics and maintenance reports. You will also receive monthly reports and end-of-year tax statements, as well as weekly updates during the period that the property is being leased.

So, if you need some help with your property management in Fort Worth, feel free to contact us or check out our website—we’ve got your back!

Request A Management Quote – 817-886-9220

Proper Rental Property Maintenance Saves Money

Everyone probably warned you about the maintenance your rental property was going to need but it’s hard to imagine what it will really entail until you’re actively managing a property. The truth is, proper maintenance requires a lot of careful planning and the right networking. You have to both constantly think ahead and think on your feet at times. At Specialized Property Management, we know all the ins and outs of rental property maintenance and have long standing relationships with high quality vendors with fair pricing. We’ll help you maintain your property in a way that saves you time, money, and most importantly-stress. 

Prepare for Rental Property Maintenance 

Proper rental property maintenance keeps your tenants safe, healthy, and happy while keeping your property running smoothly and looking great. Maintenance is something you’ll have to pay for, but you can be cost-effective if you plan ahead. You should also get to know your property. For example, if your property is an older home, you may have to spend a little extra money on repairs. Make a list of potential problems your property may have and start setting aside money so when things do happen, you’ll be ready.

It’s also a good idea to have your tenant take pictures of the property when they move in to document how the property looked before wear and tear. Fit Small Business explains, “While it’s not required by every state, it’s a good practice to have tenants inspect their rental unit within the first two weeks of moving in and sign an apartment condition agreement or statement. This document allows you and the tenant to acknowledge in writing any pre-existing conditions in the apartment that you may have missed beyond what is considered reasonable and normal wear and tear.”

Plan on Things Breaking

Your rental property may be 20 years old, or brand new, but either way-stuff will break. Normal wear and tear from everyday living can cause problems and water heaters, heating and air conditioning units, and other appliances don’t last forever. Keep in mind that they may just need a routine repair, or if things are really bad-a complete replacement. It’s your job, or your Specialized Fort Worth property manager’s job, to make sure you are ready for either and have those expenses factored into your budget. 

Expect Tenant Turnover

Even when you’re doing everything you can to keep tenants happy, tenants moving in and out of your property is inevitable. Changes in life occur that may cause even a wonderful, long-term tenant to have to leave and every new change can cost you time and money, especially when it comes to rental property maintenance. You’ll have to prepare the property for the next tenant which could include cleaning costs, repairs, new paint, carpet, and bringing certain items up to code. 

Plan Ahead

Routine maintenance as well as vacancies can be overwhelming and expensive. Specialized Property Management understands all that is involved after over 30 years of experience. That’s why we teach our clients to be prepared for the unexpected and plan ahead financially by setting aside approximately 2 months’ rent per year for maintenance costs. That way, when something unexpected happens, you’ll be less stressed. As your trusted Fort Worth property manager, we also provide our clients with access to our network of reliable contractors who may provide discounts on appliances, cleaning and repair services along with high quality service. 

Create a Preventative Maintenance Protocol

A great way to plan ahead is to assign certain maintenance responsibilities now and make sure everyone is aware of their job. For example, is changing out the air filters your job or the tenants’ responsibility? How often will you schedule property inspections? Are you going to take care of landscaping or hire it out? Try to think of everything you can and make a list so you know what is going to happen in any given situation. Make sure you include all tenant and landlord responsibilities clearly in the lease agreement and have tenants read them and agree before they sign. This is another service that your Fort Worth property manager can provide. Check the following lists from FitSmallBusiness for ideas of what you may need to keep a close, consistent eye on. 

Schedule Regular Inspections

According to SmartMove, there are 4 types of inspections to consider performing on a regular basis to make sure your rental property’s maintenance is up to code and working well. 

  1. Move-in Inspection: This walk-through inspection is typically done with the tenant. This provides an opportunity for the tenant to identify any concerns and for the landlord to document the condition of the property when it was turned over.
  2. Routine Inspection: Landlords should schedule regular inspections of the property with the tenant, ideally on a quarterly basis. A landlord should provide prior notification before entering the property; often the terms of the lease will specify the particulars regarding these visits, or local law will. This is an opportunity for the landlord to identify maintenance issues or for the tenant to discuss any problems such as that leaky faucet.
  3. Drive-by Inspection: Routinely stopping by the unit to observe its outside condition can help spot issues such as the unauthorized presence of a pet.
  4. Move-out Inspection: As the name implies, this inspection comes when the tenant moves out. This inspection is not only the time to identify any damage a tenant may have caused but for the landlord to note what normal wear-and-tear repairs or maintenance issues may need to be addressed before the unit is rented out again.”

Keep Tenants Happy 

Another key way to lessen maintenance costs is to make sure that your high quality tenants are happy. You want them to stay if they are paying rent on time and taking good care of your property and the longer they stay, the less you’ll have to worry about costly rental property maintenance expenses or vacancies that delay cash flow. Keep your tenants happy by being proactive in preventative maintenance, responding quickly to things that need your attention, and communicating effectively with your tenants. You can be proactive by scheduling regular property inspections, performing seasonal maintenance, and making sure the home complies with code requirements. Specialized Fort Worth Property Managers takes care of all of these things for you, including communicating with your tenant and responding quickly to maintenance requests through a 24/7 live hotline. We make every effort to keep your tenants happy and save you money. 

Choose Specialized Property Management

Join the thousands of satisfied property management owners who trust the experts at Specialized Property Management in Fort Worth. While it is possible to maintain your properties all on your own, it is much easier and cost effective to let the experts handle it for you. Our team of Fort Worth property managers is already completely prepared for any and all maintenance related issues and they know how to make rental properties look and perform their best. When you own rental properties and try to do it all on your own, you are risking your business’s financial security. 

A great property management company on which you can rely is easily the best thing you can have when you invest in real estate. As you begin your research, you’ll see that there are many options out there. Depend on Specialized Property Management, who offer all of the rental property maintenance services described above and have a 98% customer satisfaction rate. We can help you with any rental property ownership task. We’re confident that we can help you decrease the stress in your life, save time and money, and increase your passive income. We offer a free market assessment when you choose to work with Specialized Property Management. Put our experienced team of experts and process to the test today! Contact Specialized Property Management today and learn how to get started. 

Real Estate Agents Benefit From Fort Worth Property Managers

Real estate agents help their clients buy and sell homes which means rental properties aren’t usually on their radar. They also know about property trends and home values in various markets and when a certain area’s market is going up or down. For some homeowners, a market that is turning down means renting out their home for a period of time instead of selling right away, which puts real estate agents in a tough position. Sometimes real estate agents will even be asked to manage the property for a period of time. This could mean increased income for real estate agents, but it also means added responsibility in property management-an area that many real estate agents aren’t familiar with. 

When real estate agents partner with property managers in Fort Worth, everyone benefits. Property managers can take over the management and maintenance of the rental property while helping real estate agents earn that extra income. Discover how working with Specialized Fort Worth Property Management can increase your bottom line and decrease your management workload. 

Work With Property Management

Homeowners who weren’t initially planning on renting out their property can easily feel overwhelmed by the idea of maintaining a property, communicating with tenants, complying with regulations, and everything else that property managers in Fort Worth take care of on a daily basis. They may turn to you, their real estate agent, for help-but property management’s not really part of your job description. That’s why Specialized Fort Worth Property Management is so important. 

Our team of experienced professionals make the renting process stress-free. We can take care of everything for you and report on a regular basis whether your client is planning on living close by or moving out-of-state. As trusted property managers in Fort Worth, our team  ensures that every property is secure and well taken care of. All you have to do is tell your client about us. By registering for our realtor referral program, you can earn extra income without the daily workload and liability that comes with managing a property. 

Save Money

Another benefit of relying on Specialized Fort Worth Property Management is that we can help you cut costs. Rental properties often require costs such as advertising, proper tenant screening, getting the home rent-ready, making sure the property complies with codes and regulations, and more. Rather than let that overwhelm you, trust experienced property managers in Fort Worth to make sure you save as much money as possible. We use trusted maintenance vendors, proven advertising techniques and screening processes, and we stay on top of federal and local rental regulations. You can rest assured that trusting us is saving you and your client from a variety of unnecessary expenses.  

Legal Expertise

You don’t have to be a lawyer to know every single law that relates to rental property, but you do have to spend a lot of time studying, staying current, and making sure that you comply with the local and federal rental laws. One wrong move, even if it’s unintentional could cost your client a lot of money. Tenant-landlord laws are complicated and the ins and outs of a lease agreement can be overwhelming. Rather than risk making a mistake and paying for it, trust Specialized Property Managers in Fort Worth. It’s our job to know all of the laws, renter’s rights and guidelines, and codes to help you comply with them. 

Our Services

We’ve mentioned some of what we do at Specialized Property Management, but the list goes on. We understand that it can be difficult to find high quality property managers in Fort Worth, but we pride ourselves on our 98% customer satisfaction rate and our superior service is what sets us apart. When you trust us to help you manage your client’s property, we will provide the following services in an efficient, effective, and professional manner. 

  • INSPECTING: Our team ensures the rental unit is “rent-ready” with curb appeal, making recommendations where necessary.  We also conduct mid-lease inspections to ensure lease compliance and care of the property.
  • MARKETING: We aggressively advertise your client’s rental property across dozens of websites, post an eye-catching sign on the property, and post the vacancy to our high-traffic rentals listing and Youtube channels.
  • SHOWINGS: We prepare and post quality video tours of the property and take care of live showings.
  • SCREENING: We conduct rigorous background checks on all prospective tenants 18 years and older to place the most reliable tenants.
  • SIGNING: We prepare and execute all leasing documents in accordance with Leases & Addenda promulgated by the Texas Association of Realtors.  We secure rents and place deposit funds into escrow, and provide a formal new tenant training on how to care for the property.
  • COLLECTING: We enforce the rent collections cycle with a strict, yet respectful, process that helps avoid late payments.  We then quickly deposit rent funds to your account electronically.
  • MAINTAINING: We respond quickly to tenant needs and emergencies, handling repair requests with our cost-effective team of qualified, insured maintenance professionals.  We also conduct periodic proactive interior and exterior inspections and preventative maintenance.
  • RENEWING: We actively work to retain tenants longer with excellent service and perks like our Resident Club.  As we proactively renew leases, we help you avoid costly turnover.
  • MOVING: When the tenant does move on, we process notices, educate the tenant on the process for a smooth transition, conduct the walk through and manage deposit disbursements.
  • REPORTING: In addition to the 24/7 client portal with on-demand, detailed accounting, activity and maintenance reports, we provide detailed monthly reports and year-end tax statements. During the leasing process, owners receive weekly updates.

Realtor Referral Program

When real estate agents refer their clients to us, we’ll add them to our list of realtors that we refer our clients to as well. The best part is that with each referral, you have the opportunity to earn extra income. Property investors will rely on your advice and experience in finding the best property deals because you are an expert in market trends. As you help your clients, remember that they have a lot of demanding property management responsibilities ahead and take the time to tell them about Specialized Property Management and our list of services. 

Rather than try to do the management yourself and take away from your real estate business, let us do what we do best so that you can focus on what you do best. Each time you refer us to your client and they sign a management agreement, we pay you $350 cash. There is no limit on what you can earn and because we are so good at what we do, your name and reputation will be protected. As soon as the property owner is ready to sell and needs a real estate agent, we’ll refer them back to you. If you become one of our recognized partners, we will send other property owners your way when they are ready to sell, helping increase your future business.

The Advantages of Working With Property Managers in Fort Worth

When you team up with Specialized Property Management, you open up a world of opportunity and an entire new market of clients. According to Zillow, there are almost 700 single-family homes for rent in the DFW area. Don’t miss out on the income you could earn when those owners decide to sell. Call us today to learn more about:

  • Landlord services
  • Collecting your referral fee
  • Getting new clients

Specialized Fort Worth Property Management is considered one of the best property management companies in Fort Worth because we have over 30 years of knowledge and experience to help your client’s investment succeed, as well as the technological processes needed to thrive in today’s digital world. In order to avoid any and all mistakes when managing a property, let our team of property managers in Fort Worth be the ones to handle everything. We have proven systems set in place to take care of all of the important aspects of managing your property. 

Call Us Today

“The Specialized Property Management team is a great group of willing workers and try to do the best job possible for everyone they are associated with.”

Nellie L., Owner

We are confident that you won’t regret registering for our real estate agent referral program. We strongly believe that working together benefits everyone involved, including our mutual clients. When you rely on us for your client’s property management needs, you can rest assured that we’ll communicate clearly and professionally with owners and tenants, make sure the property is up to code, take care of maintenance issues efficiently, and more. You’ll no longer have to worry about unnecessary vacancies, high tenant turnover, or local regulations and rental laws when you trust Specialized Property Managers in Fort Worth. Contact us today to learn more about working with us.