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Our team of local professionals at Mynd Property Management are different from other Frisco property managers. Servicing Dallas and the surrounding Little Elm, Plano, and Hebron areas, we leverage real-time data to consistently better our services, providing owners with seamless management experience.
Customers working with Mynd can rely on us as their trusted partner, providing them with a healthy investment, and their residents with a happy home. Education and retail are Frisco's biggest money makers, and now residential real estate joins their ranks. It’s time to make your real estate investment work for you
If we place a resident and they fail to pay rent at any time during their lease, we reimburse you up to $5,000 in lost rent while we resolve the situation.
If a resident we place moves out and leaves behind property damage in excess of their security deposit, we will cover the difference, up to $5,000.
If a Mynd-placed resident fails to pay rent and an eviction is required, Mynd will cover the court costs and legal fees up to $5,000.
Your rental property is one of your most valuable assets. You expect concrete, tangible results, and Mynd delivers. We focus on measurable results that you can see.
Quicker than average leasing times.
Less than 4 business hours for owners, less than 8 business hours for residents.
Higher than average resident quality score (720+)
No need to worry about rental payments, less than 2% delinquency.
Consistently high customer satisfaction scores (Better than 4/5)
Net Promoter Score of 58 versus industry average of 7
We start by hiring the best people with deep local expertise.We equip them with the tools, technology and data. You get results.
Lakeisha has 6+ years of real estate experience. She is a Louisiana and Texas native who has been in the property management for many years. Lakeisha is a licensed agent and has extensive knowledge of the local area and industry. Outside of real estate, sheI loves to read, work out and meditate doing yoga while traveling the globe whenever possible.
Mynd is always prepared, even for the unexpected. In Frisco, for example, that meant dealing with coyotes. That’s right: for a while, Frisco had an issue with wild dogs. The situation reached such heights that the city put together a digital map for tracking the animals. And why did this all happen? In part because people were purposefully and accidentally providing meals. Mynd is ready, at a moment’s notice, to deal with surprises like coyotes and to take the steps necessary, like making sure there’s no risk of your residents being culpable in enticing coyotes.
During the 2010s, Frisco was one of the fastest-growing cities in the U.S., according to the US Census Bureau. Mynd will make sure some of those new residents end up occupying your Frisco rental property. Explore our resources below to learn more about Frisco property management and much more!
Last Modified on 09/09/2020
Frisco is an up and coming area outside of Dallas in North Texas, and it’s seeing a lot of activity from real estate investors. This has prompted us to think about the reasons that landlords and investors are successful with their Frisco rental homes. There’s a lot of business and a growing population.
If you’re thinking about buying a Frisco investment property, what do you need to do to ensure a successful experience?
Frisco is one of the fastest growing areas not only in the Dallas, Fort Worth, or Texas region, but throughout the entire country. It touches both Denton and Collin Counties, and about 25 miles from downtown Dallas.
The growth of Frisco is due to a high quality of life, abundance of great jobs, and stable housing market. There are a lot of corporate headquarters that have settled into Frisco, including Toyota and Pepsi Co. Many of the major employers are health companies and tech companies. There are lots of white collar jobs with high incomes through employers like:
There are excellent schools in Frisco; the district is one of the top school district in Texas. There’s also plenty of opportunities for recreation and relaxation.
People are happy to live in Frisco because of access to things like museums, parks, theaters, and outdoor hiking and fishing spots.
There’s always going to be a strong tenant pool, which gives investors confidence when they choose a market like Frisco for acquiring rental homes.
One of the most important things that makes investors successful is not just assuming that a rental home in Frisco will be a profitable investment. You cannot simply buy a property because you know the market is strong and the economy is stable. Yes, there is growth and income. But, you have to dig a little deeper and know where you’re investing and why.
To be successful with your investment in Frisco, TX, it’s important to familiarize yourself with the market:
These insights will help you anticipate and absorb the market trends. You’ll get an idea of what’s coming next, and that’s going to help you do better with your rental property investment.
Do your due diligence and your research.
Once you have thoroughly investigated the rental market, you’ll have to make sure you’re purchasing the right rental property. This is a key trait that’s common among all successful real estate investors: knowing your investment goals and developing a strategy to meet them.
You need some solid investment criteria:
You have to answer these “why” questions for yourself. You can work with the best Frisco property management company or the best real estate agent in the market, but we cannot answer the question of investment goals for you. We need to know what your goals are before we can help you, and only you can decide why you’re investing and whether Frisco makes sense for you.
Your goal is different from the goals of other investors. Your definition of success is going to be different from the definition used by other investors. Pick the city that matches your goals and strategies. Then, pick an investment property that also matches those goals and strategies. It’s the only way to be successful when it comes to investing in Frisco real estate.
There’s a lot happening in the North Dallas real estate market, and Frisco is at the center of it. There’s a lot that contributes to the growth of the local market, including the fact that there’s no state income tax in Texas.
This area is a very corporate-friendly community, and businesses are eagerly taking up space in a region that’s favorable to their own growth and profits. Texas is a right-to-work state, which makes it easier for builders to develop new real estate without unions controlling price points for labor.
If you’re planning to invest right now or in the near future, you’ll want to keep an eye on how things continue to develop. There’s a lot of growth, and a lot of positive energy. This is a great area for rental properties that investors are planning to hold for the long term, and anyone who buys a rental property here or builds a real estate portfolio with Frisco investments will find they have a good chance at being successful.
Success in the Frisco real estate market will depend on your goals and strategy.
If you are interested in investing in Frisco or anywhere in the North Dallas market, we’d be happy to help you analyze options and talk through strategies. Contact us at Mynd Property Management for more information.
Also, if you want to keep your real estate investment education going, we have a number of other opportunities to connect with us. You can learn more about investing in Dallas with us online.
Visit our Facebook group of investors, which is called Master Mynd. It’s a real estate investors’ club, where you can exchange ideas with other owners.
Check out our weekly podcast as well, called The Myndful Investor. We invite leaders in real estate and property management to talk about their success and, more importantly, their failures.
There’s a lot to learn from this relatable content.
If there’s any U.S. city deserving of being called “all-American” it’s Dallas. Its rich history and tradition make it one of the most iconic areas in the country and its lofty status continues in part thanks to its tremendous economic success. Just how successful is its economy? Dallas/Fort Worth/Arlington had a combined GDP of approximately $512 billion in recent years. To put that in perspective, if this region were a state, it would rank #9 among all others in the United States!
There’s more good news for investors: since the 2009 recession, employers in the Dallas area have created almost 800,000 new positions and nearly every employment sector is in positive territory over the same timeframe. Just as promising, the local population gained 1 million residents between 2010 and 2018, providing a solid renter base for real estate investors; many of these are millennials who are attracted to the area’s relatively low cost of living. What does the future hold? Continued relocation and expansion of major companies in the area promises sustained economic success for this American sweetheart city.
The northwest is home to some of the biggest companies in the US, such as AT&T and Exxon Mobil. The Dallas Mavericks play outside the city but the area is also home to great school districts. If you are looking for good schools, sports, and Fortune 500 companies, check out the northwest.
Fair Park is the hot spot in Dallas. The northeast, like the southeast, has the Fair Park, but it also has more variety of shopping malls and stores.
Home to the Dallas Cowboys and Texas Rangers. The presence of 2 major stadiums helps assure investment in the nearby area. Most important, the southwest is for those who love the outdoors. Cedar Ridge Preserve and Mountain Lake Creek are two of the desirable outdoor spots for locals. The southwest region is growing faster than any other region next to Dallas.
Dallas will soon be home to one of the largest urban parks in the nation, increasing the number of visitors in the southeast. The Harold Simmons Park will connect the south with the wealthier north. The southeast is home to Fair Park. Fair Park is a hot spot in Dallas. Investing by the park is a solid bet for investors due to the presence of infrastructure, museums, and sports in the east. The southeast is home to some lower income neighborhoods but is close to the Great Trinity Forest, which is also part of Dallas’ Trinity River Park Project.
For more Dallas investing and property management information refer to our Knowledge Center!
Visit our Dallas property management page for local landlord tips and information as well. Our team has vast knowledge and experience in local Dallas property management and can help you to have a better investment experience. We educate on topics in the Dallas area ranging from repairs and maintenance, resident issues, dealing with emergencies and much more. We look forward to furthering your rental property education!
One of the questions that may be on your mind if you’re a real estate investor is: Do I really need a professional Dallas property manager?We say yes, you definitely need a property manager in Dallas. If you want to self-manage your investment, you can. But, you have to treat it like a business. You have to dedicate a lot of time and resources to keeping up with the laws and regulations that are always changing. It can’t be a hobby.There are a lot of important reasons to hire a Dallas property management company. Professionals will save you money on things like vacancies, terrible tenants, and deferred maintenance. Your management company will have systems and processes in place that ensure you and your investment are protected. They’ll be responsive to your residents, ensuring the continuity of your cash flow and the stability of your property.Property managers aren’t emotional and they treat your rental home from a business point of view.The most important reason to work with property managers, however, is that it reduces your risk and liability.
Managing your own property is possible if you’re here and you’re active with all the regulatory changes. There are new requirements coming from the state and the local municipalities. Last year, a law was enacted that requires all Dallas rental properties to be registered and to apply for a certificate of occupancy. You cannot rent out a property in the Dallas market without this registration and certification.Historically, Texas has always been a landlord-friendly state. It still is, especially compared to many of the other states on the east and west coast. However, the state has become more aggressive on behalf of residents and their rights. A lot of new Class A and Class B apartment complexes have been developed, and last year there were nine different pieces of legislation that passed the statehouse to become law to protect residents.
One of the most important new laws that came out of last year’s legislative session is related to late fees. You can now only charge up to 12 percent of one month’s rent for a late fee. If you charge an amount over that, you’ll need to deliver a good reason to the courts. Otherwise, it will be capped.You also cannot charge for late fees during an eviction. The only money you can collect when you’re in the eviction process is the unpaid rental amount.Not only do you have to follow this law, you may also have to change your lease agreement. If your current leases say that your late fee is 15 percent of the rental amount, it’s going to need to be changed and rewritten.A lot of self-managing landlords also don’t know that they have 30 days to return a resident’s security deposit with a reconciliation of any money that was kept. This is a timeline that the courts are serious about enforcing. If you don’t return the resident’s deposit within that time period, your resident can take you to court.Maybe the place was destroyed and you decided to keep the entire deposit. You still need to send an itemized reconciliation showing what the money was spent on, and you have to send it within 30 days. Otherwise, the resident will not only get the full deposit back; they’ll get three times the deposit amount. That’s a lot of money coming out of your pocket. You have to send the reconciliation or else lose a lot of money.
Dallas rental property owners usually regret managing their own homes when they have to evict a tenant.With additional new laws, evictions in Dallas are now going to take a bit longer. A year ago, the state increased the amount that can be disputed in a small claims court action. It went from a $10,000 limit to a $20,000 limit. So, courts are seeing more cases that were once settled in small claims court.This extra pressure on the Dallas judicial system means that you will have a backlog when it comes to getting a court date to evict a resident. You could now be waiting 60 days or even longer to remove a resident from your property.Many self-managing landlords mistakenly think that when they want to evict a resident, they’ll take care of the whole process within days of the rent being late.It’s actually going to be two or three months now, which is another excellent reason to work with a professional property manager.When it comes to court protections, the line is moving more and more away from the landlord and towards the resident. This is a trend that’s gaining strength across the country, and Texas is no different. If you’re going to self-manage your investment properties, you’ll have to be prepared for additional legislative changes that are sure to arrive in the future.We specialize in helping Dallas landlords and rental property owners manage their risk and liability, especially when it comes to the law. We stay up to date on all the legal changes, and we closely follow federal, state, and local laws to ensure you’re in compliance and safe.Contact us at Mynd Property Management if you have any questions about professional property management in Dallas. We’d be happy to help you with your rental properties.If you want to learn more about real estate investing, we also provide other opportunities to connect with us and learn more about investing in Dallas. You can visit our Facebook group of investors, which is called Master Mynd. It’s a real estate investors’ club, where you can exchange ideas with other owners. Check out our weekly podcast as well, called The Myndful Investor. We invite leaders in real estate and property management to talk about their success and, more importantly, their failures. There’s a lot to learn from this relatable content.
