Buying a single-family home and renting it out in Plano, Allen, Frisco, and the other boomtowns of North Texas is a smart move because it gives you ongoing income every month while at the same time the property increases in value. OK, there can be ups and downs in the short term, but over the longer term the value will increase, so if you wish to sell it you will gain that way as well.
However, one of the drawbacks of renting out a single family home in Texas is that you have to manage it. There are lot and lots of things that you have to do – even before you can advertise it – because you have to conform to a whole series of laws and legislation.
Then you have to advertise for renters, decide which one is the best bet (how do you know?), and keep your fingers crossed that he/she pays the rent on time. Of course, if all goes well, there should be no hassles. However, even if you have a great tenant in your property who pays the rent on the dot, there are still things that can go wrong. This applies to any family home, including the one that you live in yourself. There can be plumbing or electricity issues. Possibly a gas leak. Damage due to crumbling foundations. Storm damage. A van crashes into the yard wall and it has to be rebuilt.
A Sensible Property Owner Will Appoint A Property Management Company
Now if you are a sensible property owner you will appoint a property management company whether in Plano or nearby as in Allen, Richardson, etc., to take care of all this side of things for you so that, ultimately, all you have to do is to bank your monthly rent check.
However, there is an issue here, and that is that many property management companies are not single family home property managers. They simply won’t take them on. They want to run big apartment complexes and can’t be bothered with a single family home.
This is why you need us at North Texas Property Management because we are single family home property managers, and we don’t manage big apartment complexes. OK, we can stretch to the odd duplex or two, but by and large we are happy to stay as single family home property managers for our clients.
It doesn’t matter whether you have one single family home or 20. Or even more. We will manage your property / properties for you wherever they happen to be in North Texas. It’s the way we started out ourselves – buying and managing single family homes – so we know all of the issues which can arise, and we are geared up to deal with anything and everything.
When you use North Texas Property Management to look after your investment, you can leave all the hassle to us.