Fort Worth Property Managers Explain Why You Need Realistic Financial Expectations

Owning rental property is a smart investment, but is not for everyone. Unfortunately a lot of landlords get in the game without enough knowledge or capital to keep their new business venture afloat. Even worse, they’ve decided to try and save money by self managing instead of hiring an experienced property management company. Fort Worth landlords should be aware of the potential pitfalls and cash flow problems they may encounter before deciding to invest in real estate. The property management experts at Specialized RPM can help you set realistic expectations so you’re not caught off guard when your rental property hits a bump.

Money Flowing In, Money Flowing Out

Being a landlord obviously isn’t as simple as cashing rent checks. Regular maintenance and planning for emergencies will set you back at least 10% of the monthly rent on your home, and sometimes that number is higher.  If you plan on “breaking even” after you pay fees, your mortgage, and whatever else is due each month you need to reconsider your financial situation. Money may be flowing in from rent checks, but make sure you factor how much will be flowing out so you don’t find yourself underwater. Your Fort Worth property managers can help you determine how much to set aside for maintenance, vacancies, and profit.

Professional Fort Worth Property Managers Will Save You Money

Self management may sound appealing, but most landlords don’t realize they end up losing money when they self manage. Unless you are a professional property manager with years of experience and nothing else vying for your time, it is easy to either let things fall through the cracks or simply be unaware of costly rental pitfalls. Code violations, longer vacancies, and poorly selected tenants are just a few of the common mistakes you can avoid by hiring a property management company. Fort Worth landlords have trusted Specialized RPM for almost 30 years because we know how to make your rental property into a success. We can help you set realistic expectations, so give us a call today!

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

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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!

FORT WORTH PROPERTY MANAGERS SHARE FALL MAINTENANCE REMINDERS

Fall is almost here. Specialized RPM, the property management company Fort Worth landlords have trusted for over 30 years, wants to share a few seasonal maintenance reminders. When you are proactive about maintaining your home, you keep your  property value high and protect your tenants. Costly repairs can be avoided through low-hassle, low-cost seasonal maintenance.

FOUR SERVICES FORT WORTH PROPERTY MANAGERS RECOMMEND

  1. Heating, Ventilation, and Air Conditioning Maintenance
    This maintenance is key to preserving the life of your cooling and heating systems. With proper upkeep, you can avoid costly repairs that arise from neglect. Simple maintenance of these systems includes: making sure your heating system is in good working order, replacing filters, and cleaning airway buildup. Also, bleeding radiators, covering outdoor AC units, checking basement humidity, and cleaning humidifiers and dehumidifiers should be done when applicable.
  2. Property Inspections
    Fall is a great time to schedule your regular property inspection. These inspections should be used to check the home inside and out. Fort Worth property managers also use regular inspections to ensure lease compliance and check for needed repairs.
  3. Landscaping
    Proper landscaping maintenance will preserve your property value. This can include tasks like fertilization and pruning. It is also important to remove or trim any plants or roots that come in contact with and could damage your rental property.
  4. Chimney Sweep
    If your rental property has a wood-burning appliance or fireplace, our Fort Worth property managers suggest you regularly clean and inspect them. Sweeping the chimney, inspecting its condition, and removing any obstructions will ensure the safety of your home and your tenants.

HOW TO PROTECT YOUR INVESTMENT PROPERTY

Protect your investment property with Specialized RPM, the leading property management company. Fort Worth landlords can rest easy knowing their rental homes are being cared for and protected with our experienced team and proven processes. Give us a call today to schedule your seasonal maintenance.