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Considering Hiring a Property Management Company?

Are you new to the landlord game or have been renting properties for years? It’s always a good idea to consider hiring a property management company. Management companies provide a wealth of services that take the stress off of you. They help in tenant communications, rent collections, maintenance calls, and move in/move out inspections, as well as tenant recruiting and marketing.

If you live nearby your rental property and are willing to be hands-on with your tenants, maintenance, and emergencies, you may be able to get away without hiring a property management company. However, there are some key considerations to think about when making that decision, based on various factors:


Proximity to property
If you’re several hundred miles away, it’s not easy to check up on or maintain your property. You’ll need to have a list of trusted vendors on hand in case of emergencies – such as plumbers, electricians, and general maintenance providers. Service calls to the property can add up, especially if it’s a routine repair that you could have done on your own or that a resident handyman provided by the management company could cover for you. Not to mention the emergency calls that can happen any time day or night.

Number of properties
If you have multiple rental properties, it can be hard to balance everything it takes to run them and keep up with rent payments, moving dates, and tenant issues. A property management company has years of experience and resources to balance hundreds of properties at a time.

Little time for tenant management
Finding and screening tenants, marketing available properties, and handling inspections can eat up a lot of your time, especially if you have other employment. If property management is not your full time job you can expect for most of your free time to be spent managing your properties.

Do you need your own employee
If you’re finding yourself thinking about hiring an assistant or manager of your own to handle your properties, hiring a property management company may be a more cost-effective option.


There are plenty of reasons why property management companies could be the best solution for your rental situation. It all depends on how much of the work you’re willing to take care of on your own and how much you understand the legal part of the game, like lease agreements, inspections, and possibly evictions. If this is not your area or expertise but your interested in investing, we can help with everything listed above!

You can always learn more about the solutions and services All County Property Management offers landlords by contacting us. We can explain more about the benefits you can receive from hiring us, including giving you back the time and freedom you deserve while still earning your rental income. Please contact us today by phone or email!
(817) 567-2500
office@allcountygroup.com

How to Convince Your Spouse to Invest in Rental Properties

Have you ever been in a situation where you are ready to invest in real estate but your spouse is not?

• Is your spouse strongly opposed? Do they have a past experience that makes them against getting involved again? A spouse who is strongly opposed to real estate investing is usually very conservative in their finances and/or has battle scars that keep them from trying again.
• Is your spouse hesitant? Some spouses are hesitant because they’re not sure about the return of investment. They worry about tying up too much cash in real estate and/or having to deal with midnight repair requests, tax challenges, etc.
• Is your spouse uneducated on real estate investing? In the majority of cases, one spouse is hesitant to invest in real estate because they lack the proper education on the topic. They aren’t aware of the opportunities and assume that it’s only something “other” people can do.


If it’s the former experience, you’ve got your work cut out for you. But the other two you may be able to work with!

Try These 5 Tips

1. Get Clear on Why You Want to Invest in Real Estate
You can’t get your spouse to buy into something that you’re not fully confident in yourself. So, before you go convincing your spouse to get on board, take the time to get clear on why you want to invest in real estate in the first place.
The more you can clarify your stance and create a list of tangible benefits for your family, the more persuasive you’ll be.

2. Consider if Working with Your Spouse is a Smart Idea
Investing in real estate as a couple might sound like a good idea, but consider the practical aspects of working together with your spouse. You know your relationship better than anyone. Will it work?

It’s worth looking at this situation from any and all angles. The last thing you want is to compromise the health of your relationship just to make some money on an investment. But, If you can make investing work with your relationship, it could be a great opportunity! 


3. Take the Slow Drip Approach
There’s a wrong and right way to introduce the topic of real estate investing to your spouse.

The wrong way involves blindsiding your spouse with an outrageous amount of information and saying something like, “Good news, we’re investing in real estate!” Many times, this will make them feel overwhelmed and they may even become defensive.

The right approach is to “slow drip”. This might look like casually mentioning a story you heard about a friend having success with real estate. Then buying a book about real estate investing and casually dropping insights that you’ve learned. You might approach the topic over dinner or a glass of wine and then drop it for a couple of days.
Eventually, this “drip approach” helps your spouse become comfortable with the topic.

4. Sell Them on the Freedom
Real estate investing is not as passive as most people think. It requires some time and attention, especially on the front end.
If you really want to get your spouse involved, move past the dollars and cents and focus on the freedom that real estate investing could provide the two of you. Play up the flexibility and get your spouse to start dreaming.

5. Involve Them in Learning
For best results, get your spouse involved in the learning process with you. Read books together, take courses, watch YouTube videos, and join networking groups. You can both grow in your knowledge and understanding, this will soon become a much more feasible and attractive option for your family and may even become a new hobby that you can participate in together. Another great place to find information about property management is on our website at www.allcountygroup.com/blog

Work with All County Property Management
At All County Property Management, we take pride in serving the DFW landlords, real estate investors and property owners as they seek to grow their income-producing portfolios and maximize cash flow in a hands-off fashion! Want to know more about how we can help you manage your first rental property? Contact us today and we’ll be happy to explain more!

Rental Demand Heats Up In DFW

As with many areas in the United States, rental demand continues to climb in the DFW area. The latest data from the Federal Reserve suggests that now is a great time to be a property owner since during the last three months of 2020 property owners’ rental income amounted to around 4.3 percent of the U.S. national income. Meanwhile, key takeaways from the “Emerging Trends in Real Estate” report published by the Urban Land Institute and pwc has us looking forward to successful investments for properly managed rental assets.


What the analysts are saying
(You can download and read the full report here):

• Prospects for the multifamily rental sector still rank “well” for 2021.
• Due to the size of generation Y, demand for both rentals and ownership housing is poised to expand.
• Investment strategy for single-family home rentals is changing from the “flip” strategy to becoming operating businesses, as more people opt to rent by choice rather than necessity.
• Investment prospects for single-family homes rank “fair” for 2021
• Some older home renters are opting for luxury rentals.
• Domestic and global capital continues to flow into the U.S. real estate market.
• “The industry is trending toward more intensively active management…”
• Interest rates will continue to rise.
• “The Supreme Court has affirmed that local communities can take legal action to address disparities in housing, even if they are the unintentional result of actions rather than conscious discrimination.”

Why DFW?
• Development/Redevelopment Opportunities rating for DFW is 3.71/5 which is in the top ten overall 
• The DFW area ranks as the 4th real-estate market in the country.
• DFW is currently considered a popular migration market in the US


What if my rental is vacant?
Selecting the right tenant for your rental is a critical first step toward maintaining the value of your investment property. Qualified reliable tenants play a significant role in protecting against undue deterioration.

If your rental has been on the market for a significant amount of time, consider talking with All County Property Management Pros about what changes can be made to decrease the amount of time it takes to find a qualified tenant. While every situation varies, there is a short list of frequently cited improvements that can often lead to more rental applications.

• Give it some curb appeal. Spruce up the yard or to trim the trees and bushes. A freshly power washed driveway can also make a big difference.
• Clean the carpets. A professionally steamed and shampooed carpet can make a rental feel like new again!
• Add some paint. A little bit of outdoor and interior paint can go a long way.
• Price it right! If your rental is drawing in the kinds of applicants that you are looking for, talk with your property manager to ensure that the asking monthly price is competitive and compares to other similar properties in your area and that are relatively the same age.

All County Property Management Pros can help you get your property rent ready and help you take advantage of the DFW area rental market. Call now to learn more about our annual management services and how our professional property managers can make a big difference to your bottom line.

Should I Allow Pets at My Rental Property? 5 Reasons You Should

One of the many important decisions required of a landlord is whether pets will be allowed on the rental property.
Creating a pet policy will either establish that pets are not allowed or establish clear rules about what types of animals are allowed, what fees are required of pet-owning tenants, and rules all pet-owners must follow during tenancy. Speak with your Property Manager about your pet policy and it should be included in the tenant’s lease agreement.

Are you worried about pets causing damage? Well, there may be more benefits that outweigh that possibility!
Here’s a look at the top 5 reasons landlords should create a pet-friendly policy for their rental properties.

 

Widen Your Tenant Pool
By allowing pets at a rental property, landlords have the opportunity to expand the number of potential tenants, increasing their odds in finding the best quality renters. More than 75% of renters own a furry friend!

 


Increase Renewals
Vacancy rates are decreasing nationwide, creating a highly competitive market for renters looking to move. Add to the fact, the scarcity of pet-friendly rentals and you have a property that your pet-owning tenant won’t want to let go of. Tenant turnover and vacancy can quickly turn a profitable investment into a sinkhole. Pet-friendly properties will lower your vacancy rate and increase your renewals.

 



Make More Money
We also will charge a monthly pet fee per pet. This is different than a pet-deposit, which can only be used to repair damage caused by the pet. Instead of a pet deposit, landlords can ask their tenants to pay a monthly fee or pet-rent if they choose to keep a pet on your property. Pet fees are non-refundable and become income off of your investment



Protect Your Property
When you allow pets on your property, your pet policy provides protections against pet damage in the way of a pet deposit, liability coverage through renter’s insurance, and established rules and expectations regarding pet behavior. If you do not allow pets at your property you run the risk of the tenants sneaking in an unauthorized pet. Unauthorized pets will cause damage and have the potential to hurt people on your property, all of which the property owner will be responsible for if the tenant leaves. Additionally, when you collect a significant pet deposit from your tenants ($200+) they will be more likely to prevent pet damage because they have money on the line. If you simply collect a non-refundable pet fee, the tenants have no monetary incentive to prevent pet damage.

 


Improve Your Reputation
Pet-friendly properties gain the traffic on the market. This means your properties will lease up faster

 


While it is up to every property owner to make their own decision as to the reason, they want to allow pets or not, we have to pay attention to the positive effect a landlord can have in offering homes to pet-owning renters and their pets.

The Benefits Of Owning Rental Properties

It’s Easy To Get Started:

Thinking about investing in a rental property? Good news! You don’t have to be a savvy businessman or businesswoman to start investing in rental properties. You can simply be an individual looking to find another reliable source of income. It is, of course, important to heavily research the market where you plan to invest, along with basic strategies for how to market and maintain your property; but it is not as complicated as it sounds. And All County is here to help!

Passive Income:

Assuming your rental property is occupied with tenants, you will be able to receive a steady stream of monthly income (while also paying down your mortgage). If you choose to utilize a property management company such as All County, investing in rental properties is as passive as it gets.

Appreciation:

In addition to the cash flow received from tenants, passive income investors may also realize appreciation. And while appreciation isn’t guaranteed, history has taught us that it happens more often than not especially in larger cities such as Dallas/ Fort Worth.

Tax Benefits:

Investing in rental properties coincides with several tax benefits, not the least of which includes depreciation––one of the best benefits of all. There are a number of tax benefits, each of which may deduct from your taxable obligations and save you money.

Pay Down Your Mortgage With The Renters Money:

It is entirely possible to pay off your mortgage obligations with the renters money when the property’s cash flow is reliable.

There will always be some risk involved when it comes to owning rental properties. However, if you stay dedicated to maintaining your property, you should be rewarded accordingly.