So you own a home, apartment, or condo, and you want to rent it out. It sounds like a great way to make some passive income and earn equity on a real estate investment property, right?
But you don’t have any experience managing a rental property, and maybe you’re even moving into a new place yourself. That’s a lot to take on, and it can get overwhelming.
That’s where full-service property management services come in. These companies allow property owners to collect a rental income without the hassle of day-to-day management tasks.
Finding a reputable property management firm can be a challenge, so we’ve compiled a list of the top five property managers in the Houston area to help you out.
About Property Managers in Houston
Property management companies help homeowners with the day-to-day responsibilities of renting out their property. It’s a lot to take on, and it can be overwhelming to try and navigate it on top of your normal life, especially if you don’t have much experience.
These Houston-based managers are experts who typically have years of experience with professional property management in the area.
Whether your property is in The Woodlands, Missouri City, Humble, Katy, Cypress, Sugar Land, or anywhere else in the greater Houston area, companies that buy houses in Texas are ready to help you.
There are many different tasks property managers can help with, from finding renters to paying property taxes in TX and everything in between.
They will start by helping you find quality tenants to whom you’ll feel comfortable renting your home. This screening process typically includes background checks to make sure the tenants have a history of paying rent on time and leaving their previous rental properties in good condition once they moved out.
Once they find a quality tenant, the leasing process begins. The tenants sign a lease, and the property manager takes care of monthly rent collection on your behalf. They will take a cut for their services—some companies take a percentage of the rent while others charge a flat rate management fee—and you’ll make the rest as income.
Why Use a Property Manager in Houston
If you’re wondering, “who will buy my house in Houston?” working with a property manager can ease your burden in many ways.
Quality Tenants
If you’re managing your property, it can be hard to know if the tenants you decide to rent to will cause you problems or not. You may be able to hire out services to run background checks and tenant screenings, but it’s a lot of work and can get expensive.
Property management companies will put in the work necessary to ensure that you have quality tenants staying in your home, whether it’s a single-family home or a multi-family home. Your management team will screen any potential renters and ensure you get a tenant placement that you’re comfortable with.
Lower Vacancy Rate
Property managers typically prioritize long-term tenants over short-term, which helps limit how long your house may sit on the market in between renters.
They also take care of property marketing to ensure that your home is listed with standout photos and a competitive rate across multiple platforms to get it out in front of as many potential renters as possible.
Property Maintenance
Management companies will take care of any tenants’ maintenance requests on your behalf. You may get a call from them asking for guidance or approval on bigger fixes, but the small day-to-day tasks should be taken care of without you having to lift a finger.
These companies often have years of experience working in a given city and can get you cheaper rates with local repairmen, so you’ll pay less for the fix than you would have if you were managing the property yourself.
Rent Collection
Property managers will collect rent on your behalf, often through an online portal, to help ensure you get your money quickly. They typically have a few tricks up their sleeve to ensure the tenants will pay rent on time, including thorough tenant screenings and sending invoice reminders a few days before the rent is due.
Good management companies are typically transparent with the homeowners and do adequate financial reporting to keep you in the loop on what’s going on with your property and how much income you can expect to make on it each month.
Less Stress
Overall, your life as a rental property owner will be less stressful if you hire out the daily work to a property management company. You’ll be able to sit back and enjoy the incoming cash flow while someone else takes care of the majority of the tasks.
The 5 Best Property Managers in Houston
Here are the five best property managers in Houston.
Shannon Property Management
Shannon Property Management is run by brothers Greg and Steven, whose family has been in Houston for five generations. They advertise themselves as a full-service property management company, and they offer services for both single-family and multi-family homes.
The company has different pricing rates for different types of properties:
- Lease only: 1 month’s rent
- Single-family residential properties: 4 to 10 percent of the monthly rent, with new leases at 75 percent of 1 month’s rent
- Small single-family portfolios (3 to 10 properties): 4 to 8 percent of the monthly rent
- Large single-family portfolios (10 or more properties): 4 to 7 percent of the monthly rent
- Small multi-family properties: 4 to 10 percent of the monthly rent
- Large multi-family properties: 4 percent of the gross income collected
Flat Fee Landlord
Flat Fee Landlord’s Houston-based office says it serves communities throughout Houston and the surrounding area, “including but not limited to Harris County, Conroe, The Woodlands, Sugar Land, Baytown, Katy, and Pearland.”
As its name implies, this company charges a flat rate instead of taking a percentage of the rent. Pricing varies depending on the type of service:
- Tenant placement only: One month’s rent
- Property management only: $350 initial set up fee, and a monthly management fee starting at $105 a month
- Tenant placement and property management: One month’s rent for tenant placement and a monthly management fee starting at $89 a month
The company will also manage multi-family properties, but you’ll have to call them to request a quote.
Specialized Property Management
Specialized Property Management is a Houston-based company that says it serves Houston and “surrounding neighborhoods, including Cypress, Humble, Katy, Richmond, Spring, Sugar Land, The Heights, The Woodlands, Tomball, Missouri City, Magnolia, Waller, Field Store, Hempstead, Baytown, Conroe, Fairfield, and Houston.
This company offers three flat-rate service plans:
- Standard: $99 a month, with a 100 percent leasing fee and $475 lease renewal.
- For an extra $350, you can include a virtual tour of the property on your listing.
- This plan includes Rental-iQ technology, a pricing guarantee, a 60-day hassle-free guarantee, and an accounting guarantee.
- Professional: $129 a month, with a 75 percent leasing fee and $375 lease renewal
- This plan includes a virtual tour, Rental-iQ technology, a pricing guarantee, a 60-day hassle-free guarantee, an accounting guarantee, an eviction guarantee, and a 10-month tenant lease guarantee.
- Premium: $189 a month, with a 60 percent leasing fee and $250 lease renewal
- This plan includes a virtual tour, Rental-iQ technology, a pricing guarantee, a 60-day hassle-free guarantee, an accounting guarantee, an eviction guarantee, and a 12-month tenant lease guarantee.
Area Texas Realty & Management
Area Texas Realty & Management is a Houston-based property management company that offers management services, investment advisory services, tenant placement services, and eviction services for Houston and the surrounding area.
This company charges an average of 6 to 8 percent of the monthly rent for management fees, but they offer a variety of services a la carte. Give them a call for a custom quote tailored to your needs.
DMR Properties
DMR Properties takes a different approach to property management. The Houston-based company prides itself on offering a second chance to first-time renters and tenants with bad credit, broken leases, foreclosures, evictions, cash jobs, or criminal records. They serve a wide range of Houston neighborhoods, including Sugarland, Pearland, Meyerland, Heights, Webster, Humble, Richmond, Alief, Baytown, Clear Lake, Pasadena, Friendswood, Rosenburg, Missouri City, Fresno, Stafford, Galveston, Port Arthur, Galleria, Medical Center, Tomball, Jersey Village, Fulshear, Katy, Richmond, Spring, Downtown, Conroe, Woodlands, Kingwood, and Magnolia.
Conclusion
Whether you’re selling a house as is or looking to rent your house, there’s a property management company for you in Houston. If you’re looking to sell outside of Houston, we buy homes in Arlington too. Check out our case study to learn more about which option will work best for you.