In Killeen, we are very close to Fort Cavasos, an army base that is the largest active duty armored post in the United States. It employs around 40,000 soldiers.
That’s a huge military population in the Killeen rental market.
What does it mean for you, whether you’re a buyer, a renter, a seller, or someone who rents out homes to tenants, some of whom may be in the military?
It means that there will be unique challenges and opportunities.
We’re talking about what it’s like to manage rental properties for military members in Killeen. Whether we’re talking about military owners or military tenants, there’s some extra care that’s needed for these residents.
Property Management in Killeen for Military Owners
As an active duty member of the military, it’s hard to ever feel settled. You know there’s a good chance that you’ll be moving around a lot, and maybe this dissuades you from buying a house. However, many members of the military and their families do buy a house, especially when they’re spending a few years in a place like Killeen, where housing is still affordable and the quality of life is high.
But, those PCS orders are bound to roll around again at some point. When this happens, and you find yourself leaving Killeen in order to deploy elsewhere, a lot of moving and relocating details are going to need your immediate attention. It’s stressful and it’s busy, even if you’ve done this a dozen times before.
One of the first decisions you’ll have to make is what to do with the home that you own.
Selling it is always an option. While the market is cooling elsewhere in the country, in Texas, there is still money to be made for owners who want to sell. Prices are peaking and it may take you a little longer than you’d like, but buyers are plentiful, even with mortgages being more expensive.
So, selling is a good idea for a number of reasons. But, it might also prove to be difficult. That’s just one extra thing you don’t want to worry about. And, if you enjoy living in Killeen, you might think about coming back. Maybe you’ll retire here. Maybe your kids will want to return here. There are many excellent reasons to hold onto your home.
You can do that if you decide to rent it out. There are some important benefits to renting out your property while you’re stationed elsewhere:
- You’ll Earn Consistent and Recurring Income from Afar
Killeen’s rental market is strong, and that’s largely due to the military presence locally. There’s a lot more going on in Killeen than soldiers deploying, however. Our region has been growing economically over the last few years, and it’s starting to show. Killeen is becoming a popular destination for people who are seeking a higher quality of life. There’s a new industry moving in and remote workers who can live anywhere while keeping their jobs are finding that markets like Killeen and the surrounding Texas communities make sense. People are leaving large, congested, and expensive cities for smaller cities like Killeen. That has been a benefit to the local population numbers.
Rents are rising and the population is growing, which means you can count on a pool of qualified tenants.
Low vacancy and turnover rates are also making it a lucrative time to be a landlord. Having a tenant move into your property leads to regular rental income, and that can go towards paying down the mortgage on your investment. You’ll increase the return you earn on your investment, and you’ll have some consistent cash flow coming in.
When you have good tenants in place and a team of Killeen property managers helping you to maintain your home, you’ll be able to earn money on your property consistently.
- Earning Appreciation while Holding onto Your Asset
If you’re thinking about coming back here at some point once your service is over, you have an even greater incentive to hold onto the property and rent it out. You’ll build equity while your tenants pay down your mortgage. And, once the mortgage is paid off completely, you’ll be earning a profit every time a rent check arrives.
So, even if you have no plans to return to this part of Texas, a rental property in Killeen is always a valuable investment to have. Your asset grows in value the longer you hold onto it. As your rents increase, you earn more and more money over the long term. You’ll find yourself increasing what you earn in both the short term and the long term. It’s a tangible investment that operates in a far less volatile pattern than stocks.
- Taking Advantage of Tax Benefits with Killeen Rental Properties
Military property owners will also want to consider taxes. Selling may require you to pay capital gains taxes. Renting out your home, however, will provide you some tax relief because you’ll be able to deduct mortgage interest, property management, and other professional fees, as well as the cost of maintenance and repairs.
This is one of the unique challenges that military owners face when they own property in Killeen. When you suddenly find yourself needing to move, what do you do? Maybe you like the idea of earning money on the home and renting it out, but you cannot imagine being a landlord while you juggle your military career, family obligations, and other passions. But, that’s why we’re here. A local property management company in Killeen can help you ensure that rent is paid on time and your property is protected. Look for a team like ours, who specializes in military personnel.
We will protect the value and condition of your property once you leave it in our experienced hands. Whether you’re coming back or not, you’ll earn money in both the short term and the long term when you rent out the home you own.
Killeen Property Management for Military Tenants
We don’t only work with military owners. We also work with tenants who are on active duty.
Tenants who have never been to Texas before may find themselves making plans to relocate to Killeen. If you’re new to the area and preparing for military service at the army base, you’ll have to think about where to live. Some soldiers will choose base housing. Others will want more privacy and space away from the base, especially if they’re coming to town with their families.
Leasing homes to military families are important to us, and if you are one of the new residents in this area, we will do everything we can to help ease your transition into the Killeen area and your new home.
Most of our military tenants find themselves renting from outside the area, so if you’re relying on pictures and video tours instead of an in-person visit, we’ll make sure you have a good idea about what your potential property looks like before you sign a lease. Our team can provide an experience that’s as close to an in-person showing as possible.
We know military tenants are not strangers to relocation. You have been through this before, and we won’t step on your toes by providing information on things you already know. You’ve likely turned on new utility accounts in dozens of cities and you’ve enrolled children in school more than once. Maybe your spouse needs to look for a new job, and you’ve done that before, too.
Know that we’re here to support you and provide all the resources that you do need. Our team wants to make your new house feel like a home as quickly as possible. You can expect us to provide the support and the structure you need, and we’ll also make sure you’re moving into a home that’s ready for you. We’re your first point of contact for maintenance issues, questions, and information about the area.
We deliver ease and simplicity to our military tenants when it’s time to move in.
Because of our experience with military tenants, we also know that there are unique challenges facing you and where you live. As with all of our tenants, we will expect your military residents to sign a one-year lease agreement. However, if you receive new PCS orders that take you out of town for an extended period of time, you’ll need the flexibility to get out of the lease.
We understand this, and we understand the law. Our lease agreement reflects a process and a flexible exit strategy for tenants who have to leave and have no control over their move-out date.
Our team is here to help you whether you’re a military owner trying to manage to rent out a property or a military tenant who is looking for a new home in Killeen. Contact us at Shine Residential Management for any questions or to talk about your options.
A property management company based in Harker Heights, Shine Residential Management cares for exceptional single-family homes throughout Central Texas, including in Killeen, Temple, Belton, Copperas Cove, Salado, and Georgetown.
