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Property Management: Fort Worth and Dallas are the Best Places to Buy Rental Property

In an analysis of 30 rental markets, Business Insider ranked Dallas as the #1 place to buy a rental property. The Dallas Fort Worth area has become a booming economic center with large businesses, such as Toyota, moving to the area in the near future. With high paying jobs and cultural amenities like museums and theaters, you can be sure Dallas Fort Worth will attract many families who want to rent single-family homes.

Protect Your Investment With Property Management Fort Worth

For investors wanting to buy property in the Dallas Fort Worth area, there has never been a better time. Mortgages are still reasonable, with the median-investment home costing $199,300, and rents around $1,630. Dallas Fort Worth is a great place to purchase an investment home and make a big return, and with professional, experienced property management, Fort Worth landlords can make even more.

With Expert Property Managers, Fort Worth Landlords Win

Owning rental property is all about keeping your costs down. Cash flow is everything, but cutting corners can have consequences. Even though Dallas Fort Worth is a great rental market, landlords can lose big if their property is not run properly. Too often, landlords think owning property in a booming area will be an automatic win. Rental property is a long-term investment, and if it is not managed well, your investment could go south. With experienced property managers, Fort Worth landlords can keep costs down by performing proactive maintenance, placing qualified tenants, and avoiding costly mistakes.

For Property Managers Fort Worth Landlords Trust, Call Specialized

If you own rental property in the Fort Worth area, call Specialized Property Management. We have been in the business for almost 30 years helping landlords make the best return on their investment. Our property management team has the experience and professionalism you need to make the most out of this booming rental market. Real estate is a long-term investment, and with Specialized you can be sure your investment is stable for years to come. Call Specialized today to learn more about all our services.

How to Save Energy and Money In Your Home

Property Management Fort Worth Recommends Energy Saving Techniques For Renters

Following these energy saving techniques in your rental home is not only good for the environment, it is good for your pocketbook. With just a few simple steps you could save hundreds of dollars per year on your energy bill! Share this list with your landlord to see if they can help or have any more tips to make your home energy efficient.

Our Best Energy Saving Tips

    1. Switch out all light bulbs, or just your the most used ones, for more energy efficient bulbs. Turn off lights every time you leave a room to save even more!
    2. If you need a room air conditioner, compare ENERGY STAR qualified models that use less energy than standard models.
    3. Installing a programmable thermostat will help with your heating and cooling costs because it automatically adjusts the temperature when you are gone or asleep.
    4. Remember that electronics account for a large portion of your household energy costs and they could be using energy even when turned off. To be sure you are not wasting energy unplug power cords when not in use, or use a power switch with an on/off button.
    5. Choose a short shower over taking a bath and you can save gallons of water.
    6. Clean or replace air filters regularly. If you need help with this contact your property managers. Fort Worth rental homes need regular maintenance like this to ensure their homes are clean and up to code.
    7. Use curtains to let sun in during cold weather and keep sun out during hot weather.
    8. Use your washer’s cold water setting whenever possible to save money on heating hot water. Do not overdry your clothes and hang them outside if possible.

Specialized the Property Management Fort Worth Trusts!

Specialized Property Management has the property managers Fort Worth trusts for everything from marketing their home to reducing maintenance and energy costs. Our property managers care about making your investment a success which means keeping costs down while ensuring your rental home is a healthy, clean, and happy place to live. To learn more about our full service property management company call today!

Do Landlords Need To Perform Regular Property Inspections?

Every good landlord knows it is necessary to have a walk through with your tenants at move in and move out to check for conditions. However, if that is the only time you are evaluating your property, you are setting your property and yourself up for failure. Take it from experienced property managers, Fort Worth rental homes need to be evaluated on a regular basis between move in and move out. Specialized Fort Worth, the property management Fort Worth landlords have trusted for almost 30 years, is here to help you understand why these inspections and evaluations are so important.

Why Property Management Fort Worth Experts Recommend Regular Evaluations

Inspecting your rental home regularly will allow you to check for these things:

  • Lease compliance: bring along a copy of the lease to make sure your tenant is complying with all the terms. Are there pets? Too many occupants? These are things you only know if you walk through the property regularly.
  • Needed maintenance: some tenants won’t mention a problem until it is an emergency. You can save money by catching a problem early and fixing it.
  • Code violations: HOA rules, local codes, and laws vary by area. Make sure your rental home is up to date and complying with all these rules.

Why You Should Set Tenant Expectations

Finally, you need to set tenant expectations early on in their tenancy. Regular inspections should be addressed as part of the lease signing process. Make sure you schedule and notify your tenant in advance of each inspection so they know what to expect. Specialized Fort Worth has a team of expert property managers Fort Worth landlords turn to time and again for help with their properties. Give us a call today to learn about all our services!

Why Do Fort Worth Landlords Choose Specialized?

From the one-man operation to the local mom-and-pop property managers, Fort Worth landlords have a lot of choices when it comes to who manages their rental properties. So why should you choose Specialized? On the surface, it looks like we offer the same thing as the competition, but in reality that isn’t true. Let us show you a few reasons we’re an industry leading property management company.

Our Property Managers Get the Job Done

We are the property management Fort Worth landlords have trusted for almost 30 years because we have the experience and local expertise to help you get the best return on your investment. Unlike the smaller operations our office has the staff, technology, and resources to turn your investment into a success. It shows in our results. Our property managers are known for:

  • Shorter vacancies
  • Better qualified tenants
  • Lower eviction rates
  • Quality, cost effective maintenance
  • Fewer costly mistakes

With all these great results, it is no wonder we are an industry leader with thousands of properties nationwide!

The Property Management Fort Worth Landlords Choose to Save Money

Discount property management offices often end up costing landlords more than they realize. You may pay less in monthly fees, but, in the end, you pay more because of mistakes, mismanagement, and simple lack of experience. Specialized is technology driven and run like a business, because that is exactly what it is. Part of getting the best return on your investment is minimizing mistakes and streamlining processes. With our combination of local, experienced professionals, and proven processes, you know you’re getting the best in the business. So don’t wait, call us today to hear about all the services we offer!

HOW TO AVOID COMMON PROPERTY MANAGEMENT MISTAKES

Many investors assume owning rental property will be an easy, relatively hands-off investment. They don’t realize the complexity and risks associated with owning a rental home. That’s why Specialized, the property management Fort Worth owners have trusted for over 30 years, have put together this list of common property mistakes you can avoid.

AVOID THESE MISTAKES

Why should you hire property managers? Fort Worth landlords know that these mistakes can be costly and hire experienced, professional property managers to help them and protect their investment.

  1. When You Are Getting Your Property Rented: too many vacancy days, poor property selection, bad marketing strategy, and inadequate property preparation all lead to your losing money as a rental property owner.  Specialized Fort Worth will help you choose and prepare a property so that it won’t sit with an unwanted vacancy.
  2. Your Tenant Interactions: Lax tenant qualifications, negative interactions, high turnover, and inadequate rent processes contribute to a bad relationship with your tenants. Poor tenant relationships will not only give you a bad reputation as a property owner but also mean tenants aren’t likely to stay once their lease is up. Your Specialized Team will handle all the tenant interactions and make sure a qualified tenant is always occupying your property.
  3. Property Owner Issues: Violations, neglecting inspections, insufficient maintenance, and cash flow problems are all behind the scenes issues that many property owners don’t think about when they first purchase an investment property. When you hire the property management Fort Worth landlords trust, you know these issues will all be taken care of by experienced professionals. You can rest easy knowing your property and your tenants are being cared for by the industry leading management team.

SPECIALIZED Specialized: PROPERTY MANAGERS FORT WORTH LANDLORDS TRUST

Avoid these common rental property mistakes by hiring the right property management. Fort Worth landlords have trusted Specialized for over 30 years because they know we take care of everything concerning your rental home so you can sit back and relax. Specialized is the partner you need to improve the cash flow, efficiency, and stability of your investment properties. Call us today to learn more about our property management services.

2017 Outlook for Property Managers in Fort Worth

property management fort worth

The year 2016 proved to be a great one for property management. Fort Worth rental property owners saw rent rates continue to rise bringing in more income for their business. New construction continues to grow throughout the Metroplex. And, the relocation of many national companies to Texas brought new renters to the area. Specialized provides quarterly and annual economic outlooks to help rental property owners know what is on the horizon for their investments. Here is our 2017 outlook and how it could affect rental owners in Fort Worth.

Rent Rates

In 2016, the 4.8 percent year-over-year rental rate increase proved to surpass the 1.6 percent rate of inflation, with a typical three-bedroom single family home renting for $1459 on average. In 2017, these rates are expected to continue to rise making the same unit rent for over $1500. Even if the rate of inflation rises to over 2 percent, it will still lag behind the rental rate market.

Vacancy Rates

The rise of rental rates is beginning to stabilize demand which is predicted to keep vacancy rates in the low 5 percent range. Property managers in Fort Worth may experience a slightly lower vacancy rate. The end of Q316 showed the area with closer to 4%.

Mortgage Rates

The Federal Reserve announced an increase to the Federal Funds Rate meaning that 3% mortgage rates will be no more. We expect these rates to be closer to the 4% range in 2017.

Foreclosures

Currently at a record low since August of 2007, foreclosure rates are projected to remain low making it a challenge for property managers in Fort Worth to find a deal.

Housing Prices

Along with rental rates, housing prices are also on the rise with a national increase of 5.39% through September of 2016. While they have not yet returned to their peak prices of 2007, they are expected to continue to grow. However, with mortgage rates on the rise, homeowners will be hesitant to sell their existing homes to move to new ones as the cost will be more. This will limit the supply of current homes for sale.

While these predictions are mostly positive for property managers in Fort Worth, investors who are seeking to purchase new property may be faced with more of a challenge. No matter where you are in your journey as a property manager, our Specialized Property Management Fort Worth team can help you achieve your goals. Contact us today!