Plano, TX: A Great Place to Call Home
Located in the counties of Collin and Denton, Plano has an estimated population of 285,494 residents. The city has a thriving economy, with major companies like FedEx Office, Pizza Hut, Huawei Device USA, J.C. Penney, and Toyota Motor North America headquartered here.
Plano is home to two historic sites, namely the Heritage Farmstead Museum and the Interurban Railway Museum. The city also boasts a number of parks and an abundance of outdoor recreation. Notable locations include the Arbor Hills Nature Preserve, Oak Point Park and Nature Preserve, and Haggard Park. Aside from that, Plano hosts a handful of annual events such as the Plano Balloon Festival and Plano AsiaFest.
Colleges and universities located in Plano include Collin College and a satellite campus of Dallas Baptist University. Other attractions include the Cox Playhouse, McCall Plaza, the Courtyard Theater, and Crayola Experience Plano.
The State of Plano’s Rental Market
The city of Plano is a great place for property investors. The median listing price for a home in this city is $440,000, which is above the national median. As a result, a great number of residents rent their homes. In fact, renters make up 40.9% of Plano’s population.
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Apart from a sizable pool of renters, landlords can also benefit from the rent in Plano. The average rent for an apartment in this Texas city is $1,549, which is a 15% increase year-over-year. Few apartments fall below the $1,000 rental rate, too. Fifty-one percent of apartments command a rental rate between $1,001 and $1,500, while 36% fall between the $1,501 to $2,000 rental range. Lastly, 11% of apartments have a rental rate above $2,000.
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If these aren’t enough to convince you, Texas is also known for its favorable environment for landlords. The state’s landlord-tenant laws are friendlier to landlords than tenants, as it places great importance on protecting the rights of property owners.
Why Go With a Plano Property Management Company?
Rental property investments are a great chance to earn income on the side. Purchasing a rental property, though, is the simplest part of the process. The next step is becoming a landlord and performing a bunch of responsibilities. As a landlord, you need to keep your property up to code, look for and vet tenants, collect rent, and oversee maintenance.
Due to the amount of work involved, most landlords opt to hire a Plano rental management company. With professional management, you don’t need to worry about your responsibilities as a landlord anymore. A manager can handle everything for you. All you need to do is sit back and watch your rental income start coming in.
What can a property management company do for you?
- 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
Plano Property Management: Where to Go From Here
The search for the best Plano rental management company can be exhausting. Start your search right with the help of Rental Choice’s detailed online directory. We list down property management companies by area, including ones in and around Plano.