Posts

How Property Managers In Fort Worth Reduce Costly Mistakes

As one of the top Fort Worth residential property management companies, Specialized RPM helps homeowners reduce costly mistakes that befall many inexperienced landlords. We do this in part because we are familiar with the the most common property management mistakes. We want you to be aware of these mistakes that cost many new landlords time, money, and could end up being the end of their rental investment.

Mistakes to Avoid When Buying and Setting Up Your Property

  • Poor rental property selection – location, type, and age of the home are all factors in a good rental property.
  • Showing the home too early – potential tenants are put off by the weird sights and smells of an old tenant or a construction zone.
  • Long vacancies – the longer the home is vacant the more money you lose!
  • Lax tenant qualifications – credit and rental history are a MUST for every tenant you screen.

Mistakes to Avoid After Tenants Have Moved In

  • Unpleasant landlord/tenant interactions – unpleasant interactions lead to vacancies. Property managers in Fort Worth are a good go-between so that interactions never become tense between landlords and their tenants.
  • Not keeping up with needed maintenance – regular maintenance is a must for the health and happiness of your tenants and your property!
  • Inadequate rent collection – always be clear and communicative on rent collection processes with your tenants.
  • Regulatory violations – stay current on all regulatory matters to avoid risk.
  • Not keeping up with inspections – inspect and evaluate your property regularly. Setting a schedule for these inspections can be helpful.
  • Not being proactive with maintenance – spending less now may mean spending more later when you have to replace or do a major repair on your home. Property managers in Fort Worth recommend proactive maintenance.

General Mistakes Landlords Make

  • Poor cash flow – be realistic about your cash flow and remember to budget for maintenance issues.
  • Hiring unqualified management – slip ups, mistakes, and overlooked inspections can cost you much more than you are saving by going with a “discount” property management company.

Choose the Fort Worth residential property management company trusted by landlords for almost 30 years. Call Specialized RPM today for more information about our services!

Taking the Emotions Out of Your Investment

Fort Worth residential property management, property managers in Fort Worth

Property managers in Fort Worth know transitioning a house from your personal home to an investment property can take some adjustment. Tenants don’t often treat a rental home with the same care as a homeowner, which is difficult for many homeowners to observe. The truth of the matter is that your home is no longer your home, it is a business investment. Like all business investments, you need to treat your rental home objectively, not emotionally.

How Your Emotions Affect Your Tenants

Negative tenant interactions can arise when landlords feel too emotionally attached to their properties. When a tenant fails to maintain the property to the landlord’s standards it can cause tensions. The landlord may feel angry or wronged. These emotions are often what lead to negative interactions and tenants deciding to leave when their lease ends. Treating your property like a business venture is something your Fort Worth residential property management company can help with.

Tips From Property Managers In Fort Worth

If you are having trouble separating your feelings from your new business venture, we are here to help. First, you need to see yourself as a business owner instead of a homeowner. Second, understand that normal wear and tear happens to every home and details you may have personally kept up (such as landscaping) may not be important to the next residents. Don’t expect everything to be kept up exactly the same as when you lived there. Finally, if you plan to move back into the home in the future be sure you don’t let that cloud your judgement. Your investment needs to be treated as such until the day you move back in.

An experienced and professional Fort Worth residential property management company like Specialized RPM can help you with this difficult transition. The better interactions you or your property managers have with your tenants the more likely those tenants are to take care of your home and stay for an extended period of time. Call us today to learn about all the services we offer.

WHY SHOULD YOU HIRE PROPERTY MANAGERS IN FORT WORTH?

If you have decided you want to rent out your property why should you hire a team of professional property managers? Renting property is smart, but it is also hard work. Many first time landlords know the pros of renting their homes, but miss the cons. The everyday realities can start to wear you down and make your investment feel more like a failure than a success. That’s where Fort Worth residential property management Specialized RPM comes in. With over 30 years in the business, we know the ins and outs of rental property, and we are here to make your property a successful investment.

WHAT DOES SPECIALIZED RPM DO?

Specialized RPM can help you with almost every aspect of managing your investment property. We get your property rent-ready by addressing needed repairs and increasing the curb appeal to attract the best kinds of tenants. We market and show your property, screen potential tenants, and draw up the leasing documents when we find the best possible tenant. We collect rent and address any issues your tenant may have. Our property managers in Fort Worth will take care of emergency maintenance issues, so you aren’t bothered in the middle of the night. And in the unfortunate case of needing to process an eviction, we can handle that too. In short, we do everything!

WHY SPECIALIZED RPM IS RIGHT FOR YOU

Now that you know a few of the reasons smart investors hire property managers in Fort Worth, you may be wondering why you should hire Specialized RPM. With over 30 years in the business we know what it takes to make your investment property a success. Specialized RPM is an industry leading Fort Worth residential property management company because of our experienced professionals and proven processes. If you want to know more about how we can help with your properties, give us a call today!

FT. WORTH PROPERTY MANAGEMENT TIPS FOR LANDLORDS

How do you make sure your property is earning you money instead of costing you money? Owning rental property isn’t as simple as leasing your property and collecting rent checks. Marketing your home, screening tenants, regular maintenance, and dealing with legal issues are just a few of the problems that will arise when you own investment property. Your investment can quickly take your time and money if you aren’t smart about how you manage it.

PROBLEMS WITH YOUR RENTAL

Even the most seasoned, careful landlords encounter issues now and then. The key to success is how you deal with those problems to keep your costs down and your rent coming in. Do you know how to deal with problem tenants or late payments? What about lease violations, complaints from neighbors, or code violations? Despite careful tenant screening, many landlords also deal with evictions, vandalism, criminal activity, accidents, and even lawsuits. The fact is, many of these issues have nothing to do with your property and everything to do with the personal lives of your tenants. People are unpredictable, and stuff breaks. Your Specialized Team is here to help you with all of these unfortunate situations.

HOW CAN FORT WORTH RESIDENTIAL PROPERTY MANAGEMENT HELP?

The biggest cost landlords encounter is property vacancy. There are three ways to control vacancy costs.

  1. Make your property rent-ready: Complete needed repairs, so your property is able to compete for good tenants.
  2. Budget for maintenance: Don’t be surprised by the regular maintenance costs your home incurs. Be sure to budget at least one and a half months worth of rent per year for maintenance costs.
  3. Respond quickly to maintenance requests: Being responsive to your tenant’s requests will impact how long your tenant will stay. If you fail to fix problems quickly, tenants will look start looking for somewhere else to live, and you will have to deal with the turnover costs.

Specialized RPM is a leading Ft. Worth property management company because we have the experience and resources to help you manage the day-to-day realities of owning investment property. We will help you control vacancy costs to turn your rental into an investment success. Give us a call today to hear about all our services.