Dallas Property Management Company Predicts Bright Future for Landlords
DALLAS– Specialized Property Management Dallas-Fort Worth says 2015 Q3 is looking even brighter for Dallas property managers. Statistics recently released from MPF Research, a leading real estate research firm, show that leasing in the area of North Texas more than doubled in the second quarter alone, and is likely to continue climbing in Q3. Currently, less than 5% of apartments are vacant, even with 5,000 new rental units added to the market in Q2.
“Demand is still coming in at huge volumes, surpassing the sizeable completions,” said MPF Research Vice President, Greg Willett. “In turn, occupancy remains tight, close to an all-time high, and rent growth is proceeding at record levels.”
Dallas property management companies noticed an increase of rent rates of 5.5% from a year ago. This increase was possible due to strong demand for rental properties, and higher than usual occupancies. Currently in North Texas alone, there are over 35,000 apartments under construction which is the highest number in over three decades. The demand for rental units in the popular market continues to grow on a quarterly basis as new residents are attracted to the market, and new households are formed.
Specialized Property Management Dallas-Fort Worth reminds Dallas property managers that while it is a great market for rental property owners, setting rents too high may scare off potential tenants, which in turn increases vacancy days and negatively affects cash flow. If you are unsure about fair market values and competitive rates in the market, the leading Dallas property management company can assist you.
Specialized Property Management assists Dallas property managers in finding rental properties, setting rent rates, advertising the property, screening tenant applications, leasing the property, maintaining and inspecting the property, and even assists through the eviction process when necessary. The company is a full-service Dallas property management company and has nearly 30 years of industry experience. For more information on how you can benefit from their services, visit: www.specializeddallas.com