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Advantages To Owning Investment Properties in Fort Worth, Texas

If you’re thinking about expanding your investment portfolio, investing in long-term rental properties in Fort Worth, TX is a great way to do just that. Fort Worth, Texas is home to around 1 million people. And that’s not counting all the surrounding towns and cities! Many of these people have relocated to the area to start new jobs, attend college or start a new life for themselves and their families. Catering to these demographics can be a smart business move, and owning rental property in Fort Worth, TX can be a profitable investment.

There are four main advantages to owning rental property in Fort Worth:


Rental Property In Fort Worth Provides A Great Location
Property in Fort Worth is often more affordable than other areas in DFW. Mainly because it is a bit smaller than the Dallas area. This makes it a popular choice for renters looking to save money. Luckily, Fort Worth offers thousands of job opportunities with little to no commute.

Fort Worth, TX also provides incentives for renters to stay in this area. The area has a blend of activities such as: public parks , museums, art and music venues, five-star restaurants, and high-end shopping, golf courses, happy hour spots, sport events and hiking trails. There’s something in Fort Worth for everyone, and there is room for expansion. The low cost of living (compared to surrounding cities) makes Fort Worth enticing for all people.

Fort Worth Rental Property Provides Opportunity For Growth
This is a city that is growing rapidly, and owning investment property here ensures that you’re the first to know about new developments. New neighborhoods are popping up all over Fort Worth, giving investors and landlords new properties and new homes to buy. Renters are keeping their eyes on the Fort Worth area. Owning rental property here means you increase your chances of finding tenants who want to live in a highly desirable area.

Diversity Within The Fort Worth Rental Market
Fort Worth is diverse in many different ways. It is a city that blends many cultures, backgrounds, races, and ages into one space. There is also diversity when it comes to real estate options. Fort Worth has pockets of quiet suburban neighborhoods with single-family homes, areas with luxury developments and townhomes, historic neighborhoods and more. When you own investment property in Fort Worth, you have access to many different kinds of real estate, allowing you to diversify your portfolio without having to leave the city limits.


Professional Property Management In Fort Worth, TX
Another advantage to owning rental property in Fort Worth is having access to one of the area’s best property management companies!


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.

If you are thinking about buying or already own investment property in Fort Worth, Texas and surrounding areas give us a call today!

How to Avoid a Real Estate Bidding War

A homebuyer’s worst nightmare is a real estate bidding war. For investors, getting the best deal on a property is essential to achieve a profit. Unfortunately, sometimes it’s unavoidable. However, there are a few ways you can avoid a real estate bidding war.


What is a Real Estate Bidding War?
A bidding war occurs when more than one person is interested in purchasing a property. A bidding war is different from having multiple offers because it involves a series of increasing prices. It’s similar to an auction, where potential buyers rapidly push up the property’s price past the original asking value.


Can You Avoid a Real Estate Bidding War?
In this day and age it may seem like a bidding war is inevitable in the Fort Worth area. However, there are ways for potential buyers/ investors to increase their chances of winning.


1. Go into the situation with a confident, clear mind.
2. Make the Highest Offer
3. Ensure You’re Prequalified for a Mortgage
4. Make an All-Cash Offer
5. Eliminate Contingencies
6. Remain Flexible With a Closing Date
7. Work With a Good Real Estate Agent
8. Write a Personal Letter to the Seller

When Is It Time to Walk Away From a Bidding War?
If you don’t want to get caught up in a bidding war, you don’t have to. Especially if the home isn’t a good investment. A good sign of a bad investment is if the home is priced higher than other similar homes in the neighborhood.


Managing Your Investment Property
For investors, winning a real estate bidding war is just the beginning. In fact, successfully operating a profitable investment property requires a lot of time and energy. This is why successful landlords hire All County Property Management Group to ensure their investment is well managed. An experienced property manager will understand your local market and insure you are always making money.


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.

The Top 5 Ways to Prep Your investment Property for Spring

As warmer weather quickly approaches the DFW area, it is time property owners and renters start thinking about how to prep their properties for the upcoming season. Whether your property is vacant or occupied, it is important to think about the seasonal changes coming.

1. Address Landscaping Issues
If your property experienced heavy ice this past winter, chances are there is plenty of yard work to be done to spruce things up in both your front and back yards.
Here are some things you can start doing now:
• Trim the hedges. This will help with new growth and prevent break off from damaged branches caused by winter storms.
• Clean the ground space. Keeping your yard clear of branches and leaves that may still be there from the winter months can help grass coming back in for the spring.
• Prepare for weeds. Right before spring fully blooms, it is a good idea to think about preparing for the inevitable weed growth


2. Examine the Exterior
It is easy to forget how much wear and tear the exterior of your investment property experiences over time. Before the weather gets too hot, inspect the exterior of your property. Check for worn out weather-stripping on all doors and windows. Further, make sure there are no cracks in the existing exterior. These two things, if left untreated can lead to unwanted bugs.
Here are some other key things to look out for:
• Broken or missing shingles
• Damaged and cluttered gutters
• Roof flashing that may have detached during storms

3. Backyard Necessities
Beyond needing to clean up your ground space and trim your trees and shrubs, now is the best time to prep your property’s backyard with all of the landscaping necessities
Here are some of the things your yard is likely to need at some point during peak gardening season:
• A good hose
• Sprinkler system
• Rakes, brooms ( unless hiring a crew)
• Pool supplies (if applicable)

4. Inspect the HVAC Systems
Heating, ventilation, and air-conditioning units always take a beating regardless of what season it is. Inspect your property’s HVAC systems before the Texas summer heat. Routine maintenance keeps the unit in good working order and reveals issues before they end up costing you hundreds or thousands of dollars to fix.


5. Wash Windows
The exterior portion of your property’s windows are likely dirtier than either you or your renters know. Having clean windows will add a little extra curb appeal to your property.

In the end, preparing your investment property for the upcoming warm season does not have to be difficult or time-consuming if you get started sooner rather than later.


In addition, by having an experienced property management company on hand like All County Property Management Group we will help make the seasonal transition easy for you to have a beautiful, safe, and springtime-ready investment property.

 

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.

2022 Rental Market Trends: Will Rent Prices Go Down This Year?

Anyone currently renting or looking to rent knows that rental prices are constantly changing. As of right now, rent prices are pretty high, and they are continuing to increase! So, this leaves renters wondering—When will rent prices go down?

Why Are Rent Prices So High?
In the past year, the cost of rent has increased by 17.6% in the United States. Before the pandemic that rate was closer to 2.4% increase each year. So, why has rent increased so much over the past year, specifically in the second half of 2021? Let’s look at a few factors to consider.
• Higher Home Prices
• Lower Rental Home Inventory
• Growing Demand
• The Aftermath Of Eviction Moratorium Due To The Pandemic

Higher Home Prices
When the price of homes increases, the rent price inevitably increases as well. After all, most landlords determine rental prices by charging a bit more than their monthly mortgage payments to pay for the home and still make a profit. Therefore, as the prices of homes continue to increase throughout 2022, rental prices will also increase.

Lower Rental Home Inventory
Low home inventory is not only an issue for potential homebuyers, but also prospective renters. Without an abundance of rental home options, landlords can set a competitive monthly rate for their rentals. As a result, most investors see the opportunity to charge higher rates.

Growing Demand
As the demand for rental housing grows for certain demographics, the rental prices will likely increase. For example, age groups like Millennials are more willing to live in a rental than maintain a home. This is most likely because Millennials are more focused on their career and development personally rather than maintaining a large home and land.

The Aftermath Of Eviction Moratorium Due To The Pandemic
The height of the Covid-19 pandemic caused a lot of problems for property owners. During this time, landlords could not evict tenants from their rentals for nonpayment of rent. This caused huge losses for property owners and investors as they had to continue paying the mortgage, taxes, utilities, and other costs.

When Will Rent Prices Go Down?
Now, it’s clear that rental rates are rising rapidly throughout the United States. So, when will rent prices go down? Unfortunately, there isn’t a black and white answer.

Can Supply Catch Up With Demand?
One factor that could affect rental rates is the housing supply and demand. Throughout 2021 and into this year, we’ve experienced a considerable increase in demand without enough supply to keep up. In turn, this has allowed property investors to set prices higher and create competitive markets.
However, if the supply can catch up with the demand, renters can expect rental rates to decrease in the upcoming year. That said, if we want to see lower rent prices, we may need to construct more rental properties.

Will More People Purchase Homes?
With skyrocketing rent prices and low rental unit supply, will this bring more people to purchase homes instead? Although buying a home is a goal for many people, the current housing market makes it difficult.
So, as of right now, it looks like many people find more value in renting than purchasing a home at such high prices. Of course, that doesn’t mean that people will resort to only rental home living in the future. But, right now, that seems to be the best option for many people.
However, if you are a property investor and  you have the extra cash or income to compete in the very competitive housing market, this could be the best time to purchase a property as the need for more rentals is at an all-time high!

Average Rent Prices in the United States
Housing costs in the United States vary state by state. In 2020, the average rental price for a one-bedroom apartment in the United States was $1,098. However, due to the Covid-19 pandemic, prices have increased significantly. Let’s take a look at the highest average rent prices for a one-bedroom unit in some of the largest US cities in 2022.
Highest Average Rent Prices in the United States
1. New York, NY – $3,260
2. San Francisco, CA – $2,850
3. Boston, MA – $2,720
4. San Jose, CA – $2,390
5. Miami, FL – $2,340

Prices
Navigating high rent prices can be frustrating and seemingly unfair for renters looking for somewhere reasonable to live. However, there are some ways for prospective renters to learn about the housing market and make intelligent decisions for their future.

Understand Current Market Trends
The first step to finding a decent rental home is understanding current housing market trends. Before quickly deciding on a place to live, do some research first. Right now, rental rates are highly competitive, so it’s crucial to seek out all of your options before making a decision. Luckily for renters and investors, Fort Worth, Texas is still one of the most affordable places to live currently!
Similarly, when you understand current housing trends, you can better understand why prices are so high. So, before you get frustrated at your landlord for increasing rent or declining to lower your monthly rate, consider the market and put yourself in their position!

Tips For Rental Home Owners
Keeping up with current rental trends is essential for investors. However, if you own more than one investment property, it can be hard to determine where you should set your rental rates at. Additionally, many landlords have questions when it comes to setting fair prices. When will rental rates increase? When will rent prices go down?
Consider hiring a property management team like All County Property Management Group! We are here to help!

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.

Should You Allow Your Tenant to Rent Month-to-Month?

You may find yourself wondering what type of lease agreement you should offer your renters. Is a shorter-term lease (month-to-month lease) the best fit for you and your investment?
To make the right decision, it’s helpful to know the advantages and disadvantages. 

What is a month-to-month lease agreement?
A month-to-month lease agreement is a type of lease where your tenant will rent for 30 days and have the option to re-extend their stay each month.
If you choose to no longer allow the tenant to continue renewing their lease each month you will need to provide a 30 day notice. A month-to-month lease agreement automatically renews each month unless the arrangement is discontinued by the tenant or landlord.

Advantages of a month-to-month lease agreement:
1. Provides a flexible housing period for tenants
2. Adjustable rent pricing
3. Flexible rent policies
4. Rapid tenant replacement

Disadvantages of a month-to-month lease:
1. Income instability
2. Increased marketing pressure
3. Increased tenant screening efforts

Conclusion
Determining whether or not to offer your tenants a month-to-month lease agreement is up to you as a landlord. Before making this decision talk to a professional property management company, like All County Property Management Group ! To find out more information about our services please visit here!