In these times of economic uncertainty, an investor needs to make sure that the returns on an investment are maximized. No investment should be earning less than its potential and this is especially the case for real estate.

You may be the owner of an apartment or an apartment complex, a stand-alone home or many houses in different locations, or a more complicated and complex portfolio with multiple property types. Whatever your investment profile is, if you have real estate investments you need real estate property management of the highest quality.

With so many companies out there vying for your attention and your dollars, it makes sense to choose only the best. But many investors make some common errors when choosing the best manager for their properties. If you are aware of these mistakes, you can avoid them and ensure that your investments pay off.

Here are the most common problems with a company and why it’s a mistake to ignore them.

1. Inexpensive
There’s nothing wrong with saving some money if you can but make sure that you’re not cutting corners when it comes to services and quality. The cheapest services may not always be the best for the performance of your real estate holdings. Take a close look at what services you are getting for the cost, at the quality of the services provided, and at the short and long term consequences of ignoring any red flags that come up just to save a few dollars. You want a company that can manage your holdings effectively, efficiently and professionally, and sometimes this means paying more to get what you need.

2. Inexperienced
It is important to know how long the management company you are hiring has been in business and what kinds of properties they have managed. It is also important to assess how successful they have been based on their current and previous clients’ experiences. The longer a real estate property management company has been doing their job, chances are the more satisfied customers it has and has had.

3.Understaffed
It’s not just how many employees the management firm has but the quality of those employees. A competent and successful company will have trained and educated staff not just for property maintenance, but office work, computer tasks and even public relations. Look for an adequate staff for the kinds of tasks that need to be done but also look for educated, experienced, and professional people that have made the company a success. If the staff is too small or not well-qualified, your investment will be at risk.

4. Not up-to-date
An experienced, well-staffed real estate property management company will have the latest, most efficient computer hardware and software available to help manage your investment. They will use effective programs that make it easy for the maintenance staff to stay current and on schedule, for screening and processing potential tenants, for tenants to pay rent, for you as the owner to access the figures and files you might need, and for the general business of the office to be conducted properly. If the company is not completely modernized and cutting edge, you may not be getting the maximum return on your real estate investments.

Herman Boswell Property Management has 37 years of cutting edge experience as a property management company in the Arlington Tx area. We maintain over 700 properties and have the well-trained staff and equipment to do so. We help you avoid the pitfalls of dealing rental property investing. We do our job and do it well.

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It’s frustrating to deal with a neighbor who loves loud music and parties or who can’t seem to keep their voices down during arguments or fights.  It’s noise, noise, noise, all the time and because they live so close to you, there’s no way you can escape the ruckus. What a nightmare!

If you’re the landlord of a property inhabited by an unruly tenant, you–unlike the neighbors who have to put up with all the noise–can legally terminate the troublemaker’s lease. But that doesn’t mean the process will go smoothly or be easy.

You have to document the nature of the complaints filed against the tenant and then tell them that they have caused a disturbance.  Should the behavior–and the complaints–continue, then you have to arrange a meeting with the offender and send a letter afterwards that recapitulates the points made during your discussion.

If that doesn’t work, then you have to send a reminder that the lease prohibits the wanton disturbance of others. And if that doesn’t solve the problem, it’s time to send a Notice of Breach and Right to Cure form (a.k.a. the Cure or Quit notice), which gives the tenant one last time to tone it down.

Through all of this, you have to keep careful records of every complaint lodged against the noisemaker that include specific information regarding how the tenant in question are violating the lease. This is because if you have to go to court for an eviction, the judge has to verify that you gave your tenant three chances to comply with these regulations before eviction proceedings can take place. And the eviction itself can take time.

Why put yourself through all of this when there is an easier way to manage rental properties? The Herman Boswell Property Management team handles tenant problems quickly and professionally so that they don’t get out of hand. And if they do, you can count on us to end the nightmare before you start losing unnecessary sleep over your investments.

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If you have investment properties you rent, you undoubtedly want to maximize the profit from your investments as well as maintain and increase the value of your properties. The biggest concern that most investment property owners have is whether or not to hire a property manager. Here again are some reasons why it is a smart thing to do:

1. You’ll Make More Money With a Property Manager

Many property owners resist hiring a property manager because of the cost involved. However in the long run, they will actually make more money because of the increased care taken with the property or properties. On average, you’ll get better tenants, have them stay longer, have less damage and repairs, and at the end of the day have your property in better shape.

2. Property Managers Will Save You Lots of Time and Headaches

The time it takes to keep track of rent payments, collect late fees when necessary, deal with complaints and repairs, get the property ready for new tenants and deal with bad tenants can easily turn into a full-time job! It can also be a constant source of stress. Relinquishing these ongoing responsibilities to a good property manager can literally bring down your blood pressure and make life livable again.

3. Better Screening and a Bigger Pool Of Potential Tenants

If you hire a property manager with experience, they will know exactly how to dig for the right information to find the very best tenants and screen out potential tenants will a bad history. Property managers also have a much bigger pool of applicants to choose from. Most property owners who try to find tenants themselves just run an ad in the local newspapers and maybe post an ad to CraigsList. A property manager who is well established will already have waiting lists of potential tenants and more coming in every day in addition to what advertising brings in.

4. Property Managers Know the Law Inside Out

One of the biggest advantages to hiring a professional property manager is the ability to avoid some legal hassles completely and minimize others. For example, it can be tricky to know and fully understand all the nuances of both state and federal laws when it comes to discrimination in screening and selecting tenants. Some property owners who try to screen and select their own tenants inadvertently break discrimination laws. Also, if an eviction does become necessary, a good property manager will understand exactly how to handle it in a way that will save time and money while staying within the boundaries of the law.

5. Property Managers Serve As a Buffer Between Owners and Tenants

Often times, it is difficult for a property owner to keep a professional distance from their tenants. They get too personally involved and they tend to be too lenient on certain issues. On the other hand, they can also get too defensive about certain types of complaints. Renting out a property is a business and it is much easier for a property manager to keep things on a strictly professional level. For example, professional property managers will react very differently to stories about why the rent is late than a property owner that has gotten to know the tenant on a personal level. When issues arise, a professional property manager who has kept his or her distance is better prepared to deal with the problem effectively.

Herman Boswell Property Management has a portfolio of over 600 properties that it manages in the Arlington area and a 37-year track record of success. Why not put them to work on your property?

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There’s a favorite saying amongst Fort Worth natives, “Life’s too short to live in Dallas.” But residents of Arlington know an even better-kept secret, which is the affordable housing prices Arlington has to offer along with some of the fastest growth and renewal and easy access to both sides of the metroplex for work or play.

With the addition of Dallas Cowboys Stadium to Arlington, the downtown area near the University of Texas at Arlington is being continually revamped, and many unique, hip restaurants are going in. Compared to the northern Dallas suburban areas of Frisco, Plano and McKinney which are often considered to be full of too many cookie cutter houses for some tastes, Arlington housing prices are considerably more affordable with bigger lots, often much bigger homes, and easier access to jobs in either Fort Worth or Downtown Dallas. South Arlington has several brand new luxury communities to complement the same presence of affluent neighborhoods in North Arlington. But with more modest existing homes throughout the historic areas, there is literally a place for everyone to call home.

Arlington has many quiet communities filled with well-kept homes and established families. From the Interlochen neighborhood where a huge Christmas lights show goes on every year to Six Flags over Texas and Hurricane Harbor, to the amazing Texas Rangers, Arlington is the place everyone comes for sports, concerts, and fun times with family.

Arlington has historic homes as well as brand-new developments, and the Herman Boswell Property Management knows all the best practices for property management in the area. Herman Boswell started his company in Arlington during its first major hey-day and became an icon of real estate in the area. His dedication and high standards, along with incredible business ethics and giftedness in real estate have benefited his clients throughout the company’s history. And he always expected the same from his agents. Today the company has over 700 properties across the metroplex, mostly in Arlington.

The Herman Boswell personal service and expertise in property management help all of our clients. Contact one of our agents today toll-free at (800) 874-1801 or locally at (817) 274-1800 and we promise you will get the personal service you deserve.

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Commercial rental properties are often a lot of work. When you first start out in the rental business, you might not realize just what you are getting into because it all seems so simple. However, as time goes on, you will quickly realize that dealing with issues like renting units, screening applicants, collecting payments, and handling the upkeep of your property can become very time-consuming. Add that to the paperwork and accounting that needs to be kept up on and you could probably use a little help in your endeavors. Fortunately, Arlington property management services are here to help.

In Arlington, Texas, there are a large number of rental properties and landlords. Hiring Arlington property management services can easily give you a leg up on the competition while also giving you a little time and space to kick back and enjoy being a property owner while someone else handles all of the details. Property managers can take care of things like:

• Marketing and renting out units
• Collecting rent
• Interacting with tenants, giving eviction notices and other unpleasant activities
• Handling the books and accounting
• Managing other employees

Having professionals on hand to take care of the business of your commercial rental property can make your life a lot easier. You need to make sure that you choose Arlington property management services that can provide you with the resources and tools that you need to become successful in property ownership, of course. Not all services are created equally, and there are plenty of fly-by-night companies out there trying to grab your attention and get the job simply to get the money that comes with it. Always make sure that you hire professional, experienced property managers for your commercial rental properties so that you can get the best results from your investment.

Arlington property management solutions are available to everyone. When you have a larger or more complicated rental unit like a complex or commercial building, having the right people to help you along the way can make a big difference. With so many different rental properties in the Arlington area, you are going to have to fight to become successful and prove to people that you are the landlord to rent from. With a professional property management team on your side, this will be easier than you might realize because they will take care of the details and use their professional experience to give you an edge on the competition.

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Disputes between neighbors are nothing new and are a fairly common occurrence when people live in close proximity to each other. For property management firms, handling disputes before they escalate is one of their chief tasks. For owners, dealing with neighborly disputes can be challenging because it may be awkward to get in the middle of an ongoing dispute. Find out how enlisting the help of a property management company is an excellent way to manage neighborly disputes and prevent ownership problems down the road.

Quiet Enjoyment and How Property Management Can Help

Property ownership, quiet enjoyment refers to the general right of all tenants to enjoy their space without abuse, conflict or harassment from fellow tenants. Most residential leases include

 language referring to quiet enjoyment but not all tenants follow the rules. This is where a property management firm can assist. 

If conflict among residents arises, property management professionals are there to step in and follow a specific procedure to try to resolve the problem. The first step involves notifying the involved tenants that management is aware of the conflict and that offending behavior must be stopped immediately. This is referred to as a cease and desist notice an is generally directed to the aggressor in the situation, though this can sometimes be hard to determine. A property management team will draft the letter and ensure that it is delivered to the tenants. If any behavior is in direct violation of the lease agreement, this will also be noted as well as any associated consequences for violating the lease agreement. 

In some instances, management may believe that mediation between the tenants could result in a resolution. Qualified property management companies either employ trained conflict resolution specialist or can access one from a trusted professional network to conduct a mediation. In some cases, the owner’s or property management company will bring in legal counsel to serve as a facilitator. This is yet another way to attempt resolution without resorting to eviction. 

Hiring A Property Management Helps Protect Owners 

Disputes between tenants can easily get out of hand if not addressed early on and this could result in owner liability. Property management firms do more than just collect rental payments and coordinate repairs – there are also charged with doing all they can to protect owners from legal action. Management should always conduct an investigation into any conflicts that arise and follow procedures to resolve them before they proceed to the level of legal action. 

Disputes that escalate into harassment that is legally protected. In cases where the harassment involves race, sex, gender, or any other protected class, failure to adequately address it can result in liability for the owner along with hefty legal fees and damage to the owner’s reputation. This is why it is so important to thoroughly investigate all allegations of harassment and ensure neighborly disputes do not involve harassment that violates the law. 

The Top Property Management Firm in Dallas, Texas

The goal of property management teams is to make life easier for both owners and tenants. Consider collaborating with a professional property management firm like Herman Boswell Property Management for professional management services in the Dallas, TX, area. Contact the pros at Herman Boswell property management today. offering combined decades of property management experience and understand the nuances of effective conflict resolution in addition to standard property management duties.

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Owning property as a business is highly competitive and owners undoubtedly have a lot of options when it comes to choosing a property management company. Setting your properties apart from the competition is not easy, so it takes the professional know-how of an experienced property management team to ensure you remain competitive. 

For those who are new to property ownership, the demands of managing multiple properties can quickly become overwhelming and remaining competitive can sometimes take a backseat. For commercial and residential property owners, navigating the competitive world of property ownership can be overwhelming but the right team can help you remain unfazed by the competition. 

Property Management Pros Carefully Craft Your Brand Image

An experienced property management company is well-versed in assisting owners with creating a brand image that stakeholders identify with. Instead of just mimicking what everyone else is doing, a professional property management team works to carve out a solid brand identity that serves to appeal to the target market and distance itself from the competition. Standing out in such a competitive industry is critical so working with a property management company that really understands this is a wise move. 

What is the easiest way to create a solid brand image? Starting with the company website, the right property management team works to use your most valuable marketing tool to create a strong brand identity. Just having a basic website is not enough. As a property owner who wishes to remain competitive, a dynamic website is a good way to increase visibility and attract the right tenants. 

Your site should be user-friendly and stand out to visitors as soon s they click on it. Beyond visual appeal, an effective website will answer visitor questions and deliver your brand message. A skilled property management team can assist in streamlining your website as well as crafting a brand image that is easily recognizable across all digital platforms. 

Property Managers Understand the Market

Professional property managers have a wealth of experience that makes them adept at recognizing trends in the real estate market, which allows them to develop effective marketing strategies for owners. Knowing how to provide value to the community while keeping the owner’s best interests at heart is a delicate balancing act that highly-experienced property management teams can pull off. Professional property management companies know that targeting the right people will pay dividends in the form of brand loyalty. 

When crafting your marketing strategy, the property management team will look at the overall real estate market, as well as those that pertain to an owner’s specific niche and the surrounding community. These trends are then used to gauge everything from rental pricing to understanding how city projects like major construction may affect your business. In addition to coming up with completely new marketing initiatives, property managers are tasked with auditing your current or former marketing efforts and finding ways to improve. It is possible that your current marketing strategy is great overall but could use some tweaking, but if your marketing efforts have not yielded the desired results, professional property management can figure out why and create a strategic plan for success. 

Next-Level Property Management

To remain competitive in such a saturated industry, you should consider seeking the help of a professional property management team. The pros at Herman Boswell Property Management offer combined decades of experience and have assisted property owners in the Arlington, Texas, area for over 30 years. 

If you are interested in elevating your brand and edging out the competition, contact the experienced property management professionals at Herman Boswell Property Management. A top property management firm in the Arlington, TX metropolitan area, Herman Boswell Property Management prides itself on delivering first-rate property management solutions for both commercial and residential owners.

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Owning property is an exciting and sometimes complicated business venture an there are often many unanswered questions. One of the most common questions asked by real estate investors is whether there is a need for property management services. There is often confusion between being a landlord and property manager and sometimes owners do not realize that these are two different things. Making the decision to use a property management company should come after doing thorough research and weighing the pros and cons of each.

The Duties of a Landlord

The biggest difference between property management and landlords is that the landlord is the owner of the property. This means that not only is the owner responsible for handling the business side of owning property, they are also charged with dealing with tenant issues, the hiring of contractors, and more. In some cases – for both residential and commercial properties – tenants and prospective tenants may prefer dealing with a landlord over a property management company. Since being a landlord is a more hands-on role, you will likely be personally meeting prospective tenants and building a rapport with existing tenants.

Generally, the more property one owns, the more hiring a property management firm makes sense. Owners who choose to take on landlord duties may soon become overwhelmed when trying to keep up the demands of maintaining the property and dealing with tenant issues. 

While it is certainly a lot of responsibility, being a landlord does have a few benefits including: 

• Determining rental rates, fees, and renewal rates
• Collecting rent and deciding which rental collection method is preferred
• Creative control over advertising
• Meeting prospective tenants face-to-face

Being a landlord comes with its challenges, but many owners have found that it is a great learning experience and gives them valuable insight that can be used when deciding to hire a property management firm later on.

The Role Of A Property Manager

As with many business ventures, it sometimes pays to have someone with more expertise come in and get things organized. For real estate investors who do not want to assume landlord duties, a property management team is essential. Hiring a reputable property management firm to recruit tenants and run day-to-day operations will save valuable time and give you an edge over DIYers.

Using the services of a trusted property management team lowers the risk of making costly mistakes and gives you access to a wealth of knowledge that would likely take years to a

accumulate on your own.

Some of the main duties of property managers include: 

• Determining rental rates based on the regional market and other in-depth research
• Setting up a maintaining streamlined rent collection systems
• Recruiting and screening potential tenants
• Marketing and advertisement on a larger scale through industry and community partnerships
• Drafting leases an enforcing leasing terms
• Handling move-outs and evictions

Hiring an Experienced Property Management Firm

Landlords and property managers share a lot of similarities, but it all comes down to what the owner feels more comfortable with. A qualified property management team can serve both seasoned owners as well as those who are new to the real estate business. For owners who are inexperienced with managing property, hiring a knowledgeable team will save a lot of the headache that comes from trial and error. If you are considering hiring a professional property management firm, look to Herman Boswell Property Management. The Herman Boswell team works hard to build client relationships and make property ownership a rewarding experience. 

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The Texas Apartment Association is holding its 2012 Education Conference and Lone Star Expo at the Henry B. Gonzalez Convention Center in San Antonio this Thursday to Saturday, April 19 to 21.  The theme of this year’s conference is “Game On!”

The TAA is a non-profit statewide trade association dedicated to unifying rental housing professionals through education, legislative advocacy and member services. Its members are rental housing owners, builders, developers, property management firms and companies that supply products or services to rental properties. The Association has more than 10,700 members and represent more than 1.8 million units throughout the state.

The conference offers the opportunity to earn continuing education credits while learning about industry trends and technology with more than 40 industry-focused education workshops presented by experts such as Amy Kosnikowski, Lisa Trosien, Mindy Williams, TAA General Counsel Wendy R. Wilson and more.

In addition, the Lone Star Expo, the only statewide rental housing industry trade show in Texas, will give you access to service providers and leading-edge products with exhibitors representing every aspect of the industry. There will be several live auctions and you have the opportunity to drive home in a brand new Mustang convertible. The winning ticket will be drawn on Friday near the close of the Expo.

Onsite registration will be available at the conference.

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Real Estate Market Affordability Forecast

The Home Buying Institute notes that home prices in Dallas rose by more than 9% over the last year.  They predict that the housing market in Dallas-Fort Worth will remain strong, largely attributable to low supply and high demand due, in part, to the population growth of the area.  The United States Census Bureau reported that “By metropolitan area, Dallas-Fort Worth-Arlington, Texas, had the largest numeric growth with a gain of 131,767 (1.8 percent) in 2018”.

What Does it Mean for Dallas-Fort Worth Sellers?

The uneven proportion between the supply and demand makes it a seller’s market. Simply put, it is a great time to sell with a growing number of people looking to move to DFW.

What Does it Mean for Dallas-Fort Worth Buyers?

Despite the rising prices of real estate properties, buyers can always take advantage of favorable mortgage rates and this may be a good time to take advantage of the incentives and valuable deals that lenders are offering.

Out-of-State Buyers Driving the Demand for Real Estate Market

The trends suggest that more out-of-state buyers will drive the demand in the real estate market. New graduates often relocate to the Lone Star State for the opportunities ahead. Home to a numerous Fortune500 companies, Dallas-Fort Worth provides opportunities for both recent graduates and for established professionals.

Even though DFW home prices have increased over the last few years, this area is still cost-effective.

• Low Cost of Living: In comparison with other urban centers such as San Francisco and New York, it is relatively inexpensive to live in Dallas-Fort Worth.
• Opportunities to Explore: 22 Fortune 500 companies headquarter in Dallas, so there is a diversity regarding job growth and prospects.
• Ideal for Retirement: Due to its affordable properties, convenient public transportation, and state-of-the-art healthcare system, many people choose to retire in Dallas.
• Diversity: According to this report, Dallas is among the five most diverse cities in the US. It takes pride in the diverse culture, art, and camaraderie. The professional sports teams in Dallas include Texas Rangers, Dallas Mavericks, NHL Dallas Stars, and the Dallas Cowboys. They contribute about $5.5 billion to the economy of the city each year.

What About the Rental Market?

The high demand / low inventory ratio of single-family dwellings position has fueled increases in rental rates that have outstripped wage growth.  That, coupled with an unemployment rate of more than double the previous year (7.10% in November 2020 versus 3.10% in November 2019), raises some concern about whether rental prices can be sustained and also whether the tenants hit hardest in the economic strain of the pandemic can meet their rent.  Some of this concern has been offset by new government stimulus benefits and the City of Dallas Emergency Short Term Rental Assistance program.

Owners of rental properties who do not currently engage a property management firm should consider doing so to provide assistance with tenant screening and signing, rent collection, lease renewals, and all other aspects of property management.

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