Millennials Are Moving In: Appealing to The New Generation of Renters

Millennials, often referred to as the generation born after 1981, are renting at higher rates than previous generations. This follows other trend-busting stats from this age group who are also choosing to delay many of life’s events. Time will tell if this is good news for them, but it’s definitely good news for Fort Worth property managers and landlords if you use the following five strategies to reach them: 

1.    Use multiple channels of communication. This generation is tech-savvy, so you should be too when it comes to communicating with them. Say no to faxes and yes to e-mails and instant messages. And most importantly, you or your Fort Worth property managers should be easy to reach via text to keep these applicants happy.

2.    Mobilize your website. The internet is the preferred method for millennial home searches. Offering a site future applicants can access from their mobile phones is a must.

3.    Provide online payment options. Nearly a quarter of all millennials have never written a hard-copy check, and a large portion of this demographic would rather pay online.

 

4.    Watch your reviews. Who is writing and reading all those reviews and ratings online? Mostly the millennials. They are more likely than other generations to use these stats to make life decisions. Since bad stories are more likely to be reported, actively reward positive reviews from those who have had a good experience at your property to build your online reputation.

5.    Go social. This time-consuming step may be why you work with a property management company. Fort Worth Millennials speak the language of social media including Twitter, Google+, Instagram, Vine, and even YouTube. If you create accounts on any of these platforms, however, post regularly to keep the content fresh.

Renovating properties is not the only upgrade most Fort Worth property managers need to make any more. Renovating their online presence and digitizing communication methods are also key to attracting this media-savvy generation of renters. Specialized RPM understands Millennials. Let us help you keep your younger generation tenants happy. http://www.specializedrpm.com/

How to Legally Unclutter Your Rental from a “Hoarder”

Your previously renovated rental is now stuffed to the ceiling in some places with what appears to be junk. You walk through aisles of seemingly misplaced “stuff” as you perform regular maintenance checks on your property. What do you do? If your reaction is to immediately evict, as some Fort Worth property managers would want to do, you need to stop yourself now. It may be illegal.

Hoarding is now a protected class since the American Psychiatric Association officially recognized it as a mental disorder in 2013. So, proceed carefully, or you will have not only clutter but a messy legal case on your hands. The better course of action is to document, plan, and enforce.

Document: Visit the property again or delegate this to your Fort Worth property management company, and take written note of the situation. Are emergency exits or fire sprinklers blocked? Is the clutter attracting rodents or causing direct damage to the property? This type of behavior moves into the breach of contract zone and is what you will want to note.

Plan: Meet with the tenant and preferably a neutral third party to help keep the peace and to act as a witness. Discuss the situation and present the documentation of the violations. Plan with the tenant how they will comply with the contract within the specified period of time. Make sure you both sign and get a copy of the document.

Enforce: Now you have legal grounds to enforce your contract. Regularly visit your property to ensure compliance. If the applicant is still in violation of the contract after the agreed-upon amount of time, you may then issue a Fort Worth property management eviction notice.

If you discover a hoarder, don’t evict. Instead, document the situation, plan with the tenant, and then enforce the plan and your contract. It gives your tenant more of an opportunity to comply and less of an opportunity to file a complaint against you, so it’s a win-win for everyone. With thirty years of experience, Specialized RPM has seen almost every renting situation imaginable. Call them today for expert help if you have a hoarding situation. You will find resolution without the legal risk. http://www.specializedrpm.com/

What to Look for When Screening Tenants

Property Managers, Ft. Worth renters, and everyone in between know that most landlords do some background check on tenants before turning over the keys. So it’s expected that you will request certain documents. What should you look for specifically once you have them, however, to maximize protection of you and your property?

The Pay Stub: Check the applicant’s income and confirm that it is 3X the monthly rent. So if your rent is $1,000/month, you want to see a monthly net income (that’s after taxes) of $3,000.

Credit Check: Look specifically for evidence of collections and evictions. You may not want a repeat customer who doesn’t pay. Also, be aware that evictions typically show up on credit reports 30 to 60 days after a judgment, so if they are running from a recent eviction you may not see it here.

Previous Landlords: Call your fellow Fort Worth property management guru to ask about the applicant’s history. Confirm the rental happened, that the applicant took care of the property as agreed upon, and that they left on good terms.

Employment History: This is a fact check to confirm the pay stub you received is accurate. Is your applicant actually employed at the company they indicated? A simple yes/no question to the HR department will do.

Criminal History: You may uncover the typical parking or speeding tickets or something more tumultuous. Is there anything that raises doubt in your mind about an applicant’s ability to keep the peace and not disrupt other tenants?

In the end, whether you decide to screen, be consistent. If your Fort Worth property management activities involve carefully researching and rejecting applicants, you should be prepared to document and explain your reasoning to avoid claims of discrimination. Specialized RPM has the experience to take care of all your tenant application needs with thorough screenings and legal understanding. Put our proven process to work for you today. http://www.specializedrpm.com/

Protect Your Property: Five Cost-Free Steps to a Worry-Free Vacation

Vacations are about forgetting the day-to-day humdrum and pretending that life is carefree again, right? Not so easy for property managers. Fort Worth rentals are at risk for break-ins just as in any area, but it shouldn’t stop your tenants from taking that needed break. Make it worry-free with these five simple steps.

1.    If you have a security system, tell the alarm company when tenants be away so they can add that to their notes in case an alarm goes off, and they can’t reach you. Hopefully, they and the police will take it more seriously.

2.    Suggest to your renters to save social media posts for after the vacation. When home and contents are secure, tenants will appreciate the advice from their property managers. Ft. Worth life at home will be protected when you don’t indirectly advertising to burglars that you’re property is unoccupied.

3.    This next step will also make tenants a better neighbor. Talk to the neighbors and get to know them. This provides you and your tenant with a trusted eye on-site. Tell the neighbors when people will be away and ask them to just keep an eye on things. They can pick up packages, mail, or even put the trash can on the curb. Offer to do the same for them when they take a holiday.

4.    You may lock your property, but do you know how to lock your garage door? Unplug it. Universal garage door openers provide all-too-easy access to your property but can just as easily be prevented.

5.    Lastly, turn on some lights and some music. Make the home look as normal as possible. Use light

timers if you have them, and plug TVs or radios into them as well to add some noise to the scene.

Property managers, Ft. Worth and beyond, have enough to worry about with a rental. Taking a few extra precautions such as these before a vacation, or encouraging your renters to do so, won’t cost you anything but will buy you a lot of peace of mind while away. Specialized RPM has more helpful tips so you can experience hassle-free leasing. Find out more today. http://www.specializedrpm.com/

Q&A About Lead Poisoning for Rental Property Owners

Lead poisoning is a concern to take seriously and build into a plan for property management. Fort Worth rental property owners can proactively protect themselves, their property, and their renters using the following Q&A guide:  

What is Lead Poisoning?

Lead poisoning is a buildup of lead in the body, usually caused by months or years of exposure to even small amounts of lead. Although it naturally occurs in the earth’s crust, mining and previous use of it in paint and gasoline have increased human exposure.

Why is It Dangerous?

Lead poisoning can cause serious health concerns including irreversible kidney and nervous system damage. It is especially dangerous for young children and can affect their mental and physical development. High levels of lead can be fatal. Property managers, Fort Worth and beyond, should not only understand these risks but also what causes them.

Where does Lead Poisoning Most Often Come From?

●     Lead-based paint

●     Lead pipes

●     Contaminated dust

●     Contaminated soil

●     Working on older home renovations with any of the above

Isn’t Lead-Based Paint Banned?

Yes. The US Government did ban lead-based paint in 1978. However, many homes and buildings built before this time may still have this contaminant in the paint on the outside and inside of the structure.

What Are My Legal Responsibilities Regarding Lead?

If your property was constructed before 1978, the EPA requires you to document and disclose any known lead-based paint or hazards before signing a new lease and to provide your tenant with an EPA info pamphlet. See Title X, or officially the Residential Lead-Based Paint Hazard Reduction Act, for more information. Failure to comply can result in a fine up to $10k for each violation.

How Can I Remove Lead from My Property?

Hire a professional who is EPA lead-safe certified, meaning they are trained to renovate lead-containing materials safely. For instance, although our first instinct is to remove the lead-based paint, the safest option is to paint over and seal it if it’s not peeling. Property managers, Fort Worth focused, also benefit from working with a locally specialized company familiar with building trends and history in the area.

Specialized RPM has over 30 years experience assisting owners with rental situations like lead-based paint problems. Call us today and let our expert team take care of your rental. http://www.specializedrpm.com/