Investors are always on the lookout for states that offer outstanding rental property opportunities. They search for areas that ensure a profitable rental market that offers long-term cash flow. One state that has always offered this is Texas!
The state of Texas offers outstanding real estate investing opportunities. This is due to the fact that Texas is landlord-friendly, has a high demand for rental properties due to population growth, offers a thriving economy, housing prices are affordable, and Texas does not charge personal income tax.
Let’s talk in more details below!
1. Steady Population Growth with Increased Demand for Rental Properties
Investors are wise to buy in states with growing population numbers. In a state like Texas, there will always be a demand for rentals. Texas has one of the highest growing population in the nation.
According to reports, 4.2 million people have moved to the state since the last census in 2010. So when the question is asked – Is Texas a good place to invest in rental real estate? It’s population growth clearly makes the answer to this question YES!
2. Offers a Booming Economy & Hot Job Market
For those who are looking for a great rental market, you won’t have to look any further than Texas. This is because it has an outstanding job market, brought about by its extraordinarily successful economy.
How does this make real estate good in Texas? It creates a high demand for rental properties as new jobs with major companies are always moving to the area. Which means more housing will be needed for the employees also moving to the area. This in turn fills your rentals with tenants who have jobs with stable companies that may stay for years to come – less tenant turnover.
3. Texas is a Landlord-Friendly State
A landlord-friendly state is another reason Texas is an ideal location for investors. This is the most basic element to look into when determining if a state is a good place to invest in rental properties. If you don’t have the law on your side when it comes to landlord/tenant issues, it may not be worth moving forward on a deal. Texas is known to be pro-landlord, and believes the landlord should have certain crucial rights over their property.
If you are new to the rental property industry one of the most troublesome issues that can come about when renting in a non landlord-friendly state, is having the state favor the tenant when it comes to evictions. For example, when a tenant clearly violates their lease agreement by not paying their rent, your goal would be to have the tenant leave a soon as possible before you get deeper into a financial hole. But when the state is not landlord-friendly, this can take months, and cost you a lot of money in legal fees.
4. Property Investors Don’t Pay Income Tax in Texas
Another aspect of Texas that makes investing in real estate there such a good idea is the fact that you won’t have to pay state income tax. For this reason, owning rental property in Texas can save you a significant amount of money.
What Area of Texas has a Profitable Rental Market?
Fort Worth Texas has become one of the most booming cities in Texas! Many new industries have recently moved to the area, not to mention the city is full of culture, history great attractions and much more. With new jobs and a growing city many people are relocating to Fort Worth. For this reason rental properties in Fort Worth have become increasingly desirable.
Get Started Building Great Wealth with All County Property Management by your side!
We hope that this article has answered your questions about owning rental real estate in Texas. As you can see, investing in real estate in Texas, especially within Fort Worth, TX, has its advantages. At All County Property Management Group, we help not only renters find their next home but also property investors looking for an experienced property management company to take over the hard work of property management. We offer up-to-date listings to suit a variety of needs and budgets. In addition, our dedicated leasing staff works with you every step of the way so you can feel confident in your home choice. Plus our team handles all property management needs from maintenance, leasing documents, marketing and more! For more information or to see our available listings in your area, check us out today.