El Paso, TX: The Sun City
El Paso has an estimated population of 678,815 residents. It serves as the county seat of El Paso County. There is a significant military and federal presence in El Paso, with Fort Bliss and Biggs Army Airfield both in the city. Colleges and universities located here include the University of Texas at El Paso, the Texas Tech University Health Sciences Center at El Paso, Webster University, and Park University.
El Paso also has a thriving arts and culture scene. The city hosts a slew of annual events and music festivals such as Fiesta de las Flores, the El Paso Balloonfest, the Southwestern International PRCA Rodeo, the El Paso Downtown Street Festival, Music Under the Stars, and the Neon Desert Music Festival, among many others.
Other cultural attractions include the Plaza Theatre, the Abraham Chavez Theatre, the Centennial Museum and Chihuahuan Desert Gardens, the El Paso Museum of Archaeology, and the El Paso Museum of Art.
How Is El Paso’s Rental Market?
There are a lot of opportunities in El Paso for property investors. The housing market in this city is very affordable, with a median listing price of $130,600. This is 43% below the national median. El Paso also has a fairly large renter population. In fact, out of all the residents in this city, 41.1% are renters. This means rental property owners have a wide pool of potential tenants.
Image via towncharts.com
Additionally, El Paso boasts a decent rental rate. The median rent in this city was $849 in 2019, up from the previous year’s $814. While this was below the national median of $1,097 in the same year, it still makes for decent returns when you factor in home values.
Image via deptofnumbers.com
Texas is also widely known to be landlord-friendly, with many of its laws favoring landlords over tenants. Perhaps the only downside to El Paso, though, is its high vacancy rate. In 2019, the vacancy rate in the Sun City was a whopping 12.04%. In contrast, the national vacancy rate at the time was 5.97%.
How an El Paso Property Management Company Can Help
For rental property investors, El Paso is definitely the place to be. Being a landlord, though, takes more than just the capital. You need to dedicate a lot of time to manage your property, not to mention learn the often-confusing ropes that come with the job. This is where an El Paso rental management company can help.
A rental management company can take over all of the landlord’s duties in a timely and effective manner. A professional manager can make property management in El Paso much smoother by performing the following tasks and more:
- Advertise your listing
- Screen and process tenants
- Oversee property showings
- Set and collect rent
- Create a lease agreement
- Perform move-in, move-out, and routine inspections
- Enforce your lease terms
- Manage maintenance and repairs
- Respond to tenant complaints
- Manage your budget
- Help with tax calculations
- File evictions
In Need of Property Management in El Paso?
If you need a professional property management company in El Paso, Rental Choice is the first place to go. Look for the best companies in your area with the help of our comprehensive online directory. We only list reliable property management companies, so you can rest assured your investment is in good hands.