Property Managers in Arlington TX
Some interesting stats about Arlington City TX
Arlington is an American city located in Tarrant County, Texas. It’s the 7th most populated city in Texas, with a 400,000 population. It’s also the 47th largest city in the US.
Arlington is famous for its entertainment and sports attractions. It’s home to Six Flags Over Texas, a countrywide theme park, including lots of outstanding attractions, being open since 1961.
Arlington TX is the world headquarters for bowling as well. The International Bowling Museum & International Bowling Hall of Fame are located on the International Bowling Campus in Arlington and attract thousands of visitors annually.
The city is famous with the production of medical, electronic, as well as rubber and plastic products. Here, the General Motors automobile factory produces automobiles and different parts, having over 3,000 employees.
Real Estate Stats in Arlington TX.
The Arlington TX real estate market is known with affordable home prices and low living costs in the country. The steady growth of the real estate market speaks about the fact that people get more and more interested in living here. Here anyone can get a high quality life and lots of manufacturing work.
According to the Texas Association of REALTORS®, the average home price in Arlington was over $235,000 USD in March 2020.
The average home price in Arlington was over $230,000 USD in February 2020.
In January 2020, the average home price in Arlington was over $226,000 USD.
During only this year, there have been over 900 closed property sales in Arlington.
- 262 closed sales In January.
- 310 closed sales in February.
- 331 closed sales in March.
On regards to the renting market, the average rental price in Arlington is $1,046 (Rentcafe), which is considered quite low compared to other United States cities.
Real Estate Types
Whether you want to move from your city to a more relaxed place, want to open a new business or get some rest from your life, Arlington TX offers all types of opportunities for you.
Residential Real Estate
Buying a house in Arlington tx can cost you between 170k to 700K based on your needs and financial possibilities.
The most common house categories are the semi-detached, detached and portable dwellings, including apartments, multi-family houses, terrace houses, duplex.
Commercial Real Estate
Starting a new business or expanding requires a good research of the real estate market to find the most suitable option.
You should consider the business type to choose the right location, also other factors such as your budget, the size, what specific commodities you want the property to have.
The stats per May 1, 2020 show that the minimum price of commercial property starts from $7,359 going all the way up, reaching $29,000,000. Based on the listed property in the market, the average sale cost for commercial property in Arlington TX is around $3,981,460.
Whether you are interested in art and culture, history, outdoor activities, shopping, or wellness and spas, Arlington TX will provide the best experiences at the best budget prices.
Tourists who are in search of adventures, can enjoy the original Six Flags Over Texas and Hurricane Harbor water park, golf, nightlife and shopping in Arlington TX. The city has a vibrant culture of live music, museums and theater as well.
Whether you are traveling with friends, family, or even pets, Arlington TX has great offers for you. Daily rental prices start from$25 per night and reach $150 (based on expedia and other sites data). Houses and condos are popular options for a stay in Arlington.
So in order to stay and enjoy one week in Arlington, you can expect to spend around $350 to $400 for a normal reformed apartment.
Property Management or Real Estate Agency Fees
When you deal with different property companies, it’s essential to have a good understanding of the fees that they charge and what kind of services that fee includes. Let’s discuss four types of fees Arlington, TX real estate managers charge.
This is the main fee among Arlington, TX property managers. It refers to the monthly percentage of the rental price of your property and can vary from 4% to 12% depending on the market. It’s also important to note that different property managers in Arlington include different services under the management fee and higher fees can include much more important services.
You should clarify all the services provided by the property manager for a certain management fee.
This is the second main fee that property managers charge in Arlington and in most parts of the United States. These fees compensate property managers for the time, effort, as well as expenses required to fill a vacancy on the rental property.
However, some property managers don’t charge leasing fees and include them in the management fee. Generally, leasing fees hover over 25% of the first month’s rent.
Account setup fee
An account setup fee can be charged by the real estate agency, when you sign a real estate contract. These fees generally range from $50 to $300 depending on the agency.
How to Choose Property Management Companies in Arlington TX
Dealing with property can be a complicated and time consuming process. However, hiring a proper property management company can ease it, preventing you from lots of potential troubles.
Why Should I Hire a Property Management Company?
Hiring a professional property manager or real estate agency can save you time, money and efforts.
Let’s discuss some reasons why you should hire a property management company.
- First of all, these companies can market your rental estate to increase the profits from it, as they know the rental market, how to find potential renters, and how much potential renters are ready to pay for a rental property.
- To keep your rental estate in good condition. Property managers are experienced in preventing pointless repairs to save you money as well.
- Track the profits and expenses from estate rental to define the profitability.
- When selling an estate, property managers can share the tips to increase the value of your estate in the market, and of course will help you sell it with the maximum price and in a short period.
- When it comes to buying an estate, real estate agencies can help you find the desired property for lower prices and much faster.
PS: Like any other business, property management companies also need proper digital marketing and SEO services to succeed in nowadays technological world.
Finding the best Real Estate Companies in Arlington TX for You.
Once we understand the importance of hiring a property manager to help protect your investment and make it maximum profitable, you need to find the right real estate agency.
You should consider some factors when choosing a property management company in Arlington.
Good Reviews and Reputation
Nowadays, reputation plays a significant role in the property management industry and having a poor reputation can have a negative impact on the real estate agency.
Before hiring a property management company, generally people ask opinions and recommendations to friends, relatives, coworkers, etc., search for reviews online. Yelp and Google reviews are critical. Lots of good reviews will easily increase your service sales, and the contrary.
The more reviews the company has, the better idea you can have of what people really think of the agency. In case there are negative reviews, do they respond to them? This is something that can make great property management companies stand out. Genuine responses to unhappy customers can make a big difference.
When checking out the good reviews, pay attention to what makes the company the best.
Another factor to pay attention to is transparency. Having a complete, proper information about the company, listings, prices on the website is a sign of being a reliable company. The agencies should also be transparent with the clients during negotiations and the entire property purchasing, buying or rental process.
Easy-to-use detailed Website
Another important factor is having a detailed website. Companies that provide an easy way to find the information you need can have another plus for being hired by clients.
For any property manager it is essential to have professional liability insurance, or errors and omissions coverage.
In real estates, things that can be protected by professional liability insurance, are the followings:
- Failure to buy proper property insurance, which can result in a loss for the property owner.
- Discrimination claims.
- Other claims of failure to perform professional duties according to the agreement.
Professional liability insurance covers your legal defense and court expenses, attorney fees settlements, or judgments you are required to pay.
Having an accreditation is a sign for a real estate agency that adheres to high standards. You should search for an agency that has a qualified and experienced staff.
Make sure the fees that real estate companies charged for specific services worth it you feel comfortable moving forward.
You should get familiar with different companies’ fees to have a better understanding of the average rates of the local market.
The monthly reports must include profit & loss statements, tenant receivables, accounts payable & bank reconciliation. This helps you to be on track with your properties making it easier to understand the current situations of your assets.
Important Note: To make your property management company reach the top positions of Google, check our Property Management SEO services.
Top 5 Property Managers in Arlington TX
We have selected the best ones based on the reviews, accreditation and all the factors discussed above.