Despite the economic effects of COVID-19, the Dallas real estate market is rebounding, and thanks to the growing demand for rental housing, landlords are the biggest beneficiaries. One of the reasons this is happening is that tens of thousands of people are moving into Dallas to search for jobs. According to the Bureau of Statistics, 102,500 new jobs were created in 2018, and this number has grown significantly over the last two years.
With over 3.7 million people already absorbed into employment, landlords are faced with lots of business opportunities because of the growing demand for housing. Recent surveys indicate that 130,000 people moved to the Dallas and Fort Worth area in 2019, of which two-thirds are in need of rental housing.
But there’s yet another important statistic about Dallas that makes rental business lucrative—following the increase in demand, Dallas rental prices are soaring higher and faster than in many other markets. In the past decade, the average rent for homes in the Dallas Metro area has risen by 38%, compared to the national average of 37% during the same period. These statistics go to show that real estate investors are sitting on a huge potential to grow their business.
But real estate investment is not that easy or straightforward. The fact that the demand is increasing doesn’t translate directly into revenue. It calls on real estate owners to craft the best property management strategies that would transform this potential into real benefits. Property management in Dallas involves a lot more than one might imagine—from pricing to marketing, to handling legal issues, designing and maintenance of the property, and dealing with evictions. Specialized Property Management Dallas has the expert knowledge, specialized staff, and a grasp of the real estate sector, we can help you manage the day to day operations and allow you less stress and more free time.
How Can Our Property Management Company Help?
Some of the hardest things landlords deal with are grappling with the legal compliance issues and the headache of dealing with stubborn tenants. With the Specialized Property Management, you’ll never have to worry about all these issues connected to your rental property in Dallas. We will evaluate your current property details and ensure it complies with the regulations. Even though property owners try as much as possible to comply, sometimes it is difficult to deal with the ever-changing legal environment.
Despite an increase in the demand for housing, there seems to be a slowing down of the market. More than ever before, houses are sitting longer, something that wasn’t as frequent only a few years ago. In addition, tenant turnover is on an increasing trend, and this is cutting down the returns on investment.
To help address these challenges, the Specialized Property Management team is here to help you choose the best tenants through a thorough tenant screening process. They will take care of all the issues around tenancy, and negotiate with the tenants where necessary to avoid evictions. If you already have a rental property or you are looking to invest in real estate but aren’t sure which way to go, contact Specialized Property Management in Dallas to get help from the experts!
