Leading Plano property management company releases the 10 common mistakes for rental properties and how property managers can avoid risk.
Specialized Property Management Dallas/Ft. Worth, DFW’s largest residential property management company, released its common property management mistakes and solutions for landlords. The list is designed to help rental property owners and other property managers become aware of the pitfalls that plague many Plano property management companies, and how these can be avoided.
“Being aware of legal pitfalls that haunt all landlords and homeowners is the first step to creating a better rental experience for all involved,” explains Stefanie Mendoza, Director of Operations at Specialized Property Management Dallas/Fort Worth. “We understand that regulations affect everyone in a rental situation on a local, state and federal level. As a company for property management, Plano landlords count on us to stay on top of all regulations so we can protect them from potential risks and financial liabilities.”
These legal pitfalls range from discrimination that violates Fair Housing Laws, mishandling payment and expense records, to whom you have coming in to perform maintenance. The only way to keep out of hot water is to stay current on regulations. All those involved in property management Plano must understand that making these mistakes are not only costly, but have the ability to ruin your reputation in the industry, and keep you from growing your business.
Understanding and following regulations as they apply to rental situations will lead to a positive rental property experience for landlords and tenants. “We understand that many of our clients simply don’t have the time or expertise to commit towards keeping up-to-date on rental property regulations. So, instead of taking this on themselves, they come to a full-service property management to take care of their rental property,” explains Mendoza. “To relinquish control of property management, Plano landlords need to trust their property managers and have confidence in their abilities. Without this, we can’t fully help them avoid potential regulator problems.”
About Specialized Property Management Dallas/Fort Worth
Specialized Property Management is the largest property management company in the Dallas/Fort Worth Metroplex, providing personal service and high-level real estate investment management strategies for thousands of clients. For more information visit: www.specializeddallas.com