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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 RPM?

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 RPM? 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 RPM 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 RPM, 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 RPM 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 RPM: PROPERTY MANAGERS FORT WORTH LANDLORDS TRUST

Avoid these common rental property mistakes by hiring the right property management. Fort Worth landlords have trusted Specialized RPM for over 30 years because they know we take care of everything concerning your rental home so you can sit back and relax. Specialized RPM 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 RPM 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 Real Property Management Fort Worth team can help you achieve your goals. Contact us today!