Myths about Leasing & Managing Rental Property

property management McKinney

 

 

Hiring a Professional Property Management Company Can Save You Thousands

 

MYTH:

Once a home is leased, all you have to do is collect the rent and handle the maintenance. Legal compliance is only an occasional problem. Besides, my friend is a great attorney who is willing to help me manage my property.

FACT:

Property management is complex with multiple responsibilities.

Your Property Management Company Needs to Know the Business

 

McKinney property management is a specialized area of real estate. Owning rental property brings additional liabilities to the homeowner, whether through insurance coverage or obligations to the tenant. Getting to know and work with your leasing agent who knows the property management McKinney area can greatly help your rental property potential. Owners should stay current on all tenant and landlord laws, property codes, federal Fair Housing laws, in addition to local city ordinances. These laws and codes can change annually, so landlords should stay on the lookout for policy changes.

It’s also a good idea to use contractors with proper insurance and training. Otherwise, you could face possible litigation by the tenant. These are just a few of other risks to remember with property management:


  • McKinney property code laws and city ordinances
  • Federal housing laws
  • Tenant screening
  • Marketing and advertising for lease
  • Real Estate Contract law on residential leases
  • Tenant and landlord maintenance laws
  • Monthly rental payments
  • Managing renter demands
  • Tax accounting
  • Collection and eviction laws
  • Property inspection regulations
  • Tenant security deposit refunds

 

You want a trustworthy and local McKinney property management company. Specialized RPM wants clients willing to explore all the benefits of our full-service McKinney property management business. Our Specialized team stands above the rest of the McKinney property management companies. We are committed to meeting your every expectation. Our team consists of experienced leasing agents, licensed maintenance professionals, professional accountants, and cross-trained property managers. Put our team, experience, and ethics to work for you! Call Specialized RPM today!