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

property management in Fort Worth TX

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

Knowing the HOA Rules

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

Screening Tenants

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

Renting Fees

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

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

Smart Choices in Property Management in Fort Worth TX For Rental Real Estate Success

Property managers in Fort Worth TX

As a real estate agent, you are an expert on property trends and home values in various markets. When the market in an area is turning down, it may make more sense for a homeowner to rent their property for a time instead of selling immediately. As you make this recommendation to a client, you may be asked to take on the management of that property with a tempting offer of some extra income. When management is not your primary skillset and responsibility, property management in Fort Worth TX can actually cut into your bottomline. Teaming together with Specialized, an experienced  property management company in Fort Worth, TX, can increase your income as you divide and conquer the workload according to your strengths.

Partnering for Profit

For a client who did not originally intend on getting into rental property investing, the thought of renting can feel overwhelming. But, if you quickly introduce the idea of partnering with property managers in Fort Worth, TX, the renting process is stress-free. If a homeowner is moving out of the area, the property manager is the trusted eyes and ears that keeps the owner informed about the property. The job of a professional management company should only be managing property- this means security for your client’s property. With our real estate agent referral plan, earn that extra income without the daily added workload, and liability that comes with managing property.

Watching Out for Costs

Rental property has financial benefits that comes with financial costs. The financial aspects of renting include cost of advertising for tenants, cost of proper tenant screening, preparing the home for tenants, and making sure the property is complying with rental codes and regulations. The responsibilities that come with property management in Fort Worth, TX can quickly start to cut into your bottomline. As an experienced property management company in Fort Worth, TX, Specialized can help with costs to add greater returns.

Legal Issues

Property managers in Fort Worth TX know that rental property comes with liabilities. Tenant-landlord laws are complex, and whether or not you understand the laws doesn’t mean you are exempt from following the laws. Violating codes and regulations can bring costly fines to the owner of the rental property. Specialized has a legal team that knows the laws regarding rental property. Their experience can keep properties within the law and protect homeowners from hefty fines.

Before you learn from the hard knocks of property management in Fort Worth, TX, refer your client to Specialized. You can take advantage of our referral program and your client will have peace of mind with the renting process.

5 Easy Ways to Make Your Rental Property Management Business Greener

Fort Worth property managersThe buzz word is green. Almost everywhere we hear about “going green”. Even if you don’t always eat granola or drive a hybrid car, you will agree that being environmentally responsible is a good idea. Responsible property management in Fort Worth TX could include changing a few habits around the office that help the environment. Here are just a few of many ideas that can be used right now to make an office, or home, more environmentally conscious.

 

— Light Bulbs

Check what types of lighting your office is using. LED lights use so much less energy and last longer than other types of light bulbs. It may seem like an expensive swap at first, but changing fluorescent and incandescent lights for LED is a wise investment for Fort Worth property managers to consider. Not just an energy choice, LEDs don’t contain mercury or toxic gases found in other types of bulbs.

 

–Ditch the plastic water bottle

Millions of tons of plastic waste is thrown away every year. Some of this waste can be avoided by replacing plastic water bottles in your office. Installing a water filtration system is a great way to save on water bottles. Your water may even be fresher and taste better. Now property management in Fort Worth TX can solve some of the world’s biggest problems with those conversations around the water cooler.

 

–Choose green vendors

Anything from paper, cleaning supplies, or other office supplies, consider buying for vendors and companies that offer green options and supplies. This could be natural soaps in your rest rooms or using products made from recycled materials. Supporting other companies concerned with the environment is a way to show your Fort Worth property manager’s green intents.

 

–What paper are you using

Much of our lives is now paperless, but paper is still necessary in an office setting. Look for PCW (post-consumer waste) paper options. This type of paper is made completely from paper that has been placed in a recycle bin.

 

–Look at your computer

It is easy to just walk away from your computer and have it ready to go the next day. A simple thing of putting your computer to sleep when not in use can save an average of $30 a year per computer and will use less energy.

Fort Worth property managers can do just a few seemingly small office changes that can have bigger environment effects in the long run. Every little caring act towards the planet we live on is great.

Lead Paint Poisoning Prevention: What Property Owners & Landlords Need to Know

property management Fort Worth TXWhether from old buildings being renovated or lead in the water supply or recycling batteries, the potential for lead poisoning is real. Fort Worth property management companies need to be conscientiously concerned about the potential lead in rentals units that would negative health effects on tenants. Trey Brown is a metals toxicologist and faculty associate at the University of Texas at Arlington. He said  that, “childhood lead poisoning in the #1 environmental contaminant-driven disease in the country, and nobody knows this.” Responsible property management in Fort Worth TX requires strict attention to this environmental problem when renovating older rental properties.

Many homes that were built before 1978 may still have lead base paint on the walls. If the exterior of a home had lead based paint then there is also the possibility of the ground around the home having lead contamination. Lead can also be in the water and cannot be seen, tasted, or smelled. Older pipes were often lead or the soldering was lead.

Some tips for Fort Worth property management companies for lead paint in your rental unit:

–It is best to work with one room or area at a time. With heavy mil plastic sheets seal off doorways, vents, and any air ducts to prevent contaminated dust getting all over the house.

–If paint isn’t peeling, you can simply repaint over the lead based paint and “seal” the paint from being exposed. This isn’t a time to skrimp on paint price. Find a quality paint that will last and not just peel off in short period of time. The goal is to completely seal the old paint from exposure.

–If paint is peeling and needs to be removed, it may be best to hire a professional with experience with lead removal.

Choosing to remove lead paint means you need to take extra precautions to keep lead dust contained and keep your exposure at a minimum. Wear disposable work clothes, hair coverings, and gloves. Always use goggles and respirators.

Caring property management companies in Fort Worth TX know the condition of their rental units and the hazards that may need to be addressed with those properties. Where lead poisoning is something that can be prevented with proper care, let’s all work together in the goal to eliminate this hazard.