The Pressure on Rental Property Owners in Texas Is Reaching a Breaking Point
At Mitchell Property Group, we’ve helped families and investors navigate the Amarillo real estate market for over 25 years. But recently, we’ve seen a major trend: long-time landlords are ready to walk away from their rental properties—and fast.
So why are so many landlords throwing in the towel?
We’ve narrowed it down to three major reasons:
🔥 1. Skyrocketing Insurance Costs
Texas has always been storm country—but in recent years, the insurance industry has taken it up a notch. Hailstorms, hurricanes, floods, wildfires, and tornadoes have caused insurance premiums for rental properties to skyrocket.
Here in Amarillo, we’re paying almost double for coverage compared to a few years ago—and getting less protection. Many policies now exclude roof coverage unless you pay outrageous premiums.
If you own multiple rentals or rely on rental income, these costs quickly eat away at your margins.
💸 2. Soaring Property Taxes
Texas doesn’t have state income tax, but property taxes more than make up for it. And thanks to the COVID-era real estate boom, property values—and taxes—have exploded.
Out-of-state investors flooded into Texas post-COVID, creating a hot market. But now, as the market cools, property taxes haven’t come down—leaving landlords holding the bag.
Even seasoned investors are struggling to make rental numbers work when the tax bill keeps climbing each year.
🧰 3. Reliable Property Management Is Hard to Find
Managing rentals isn’t easy, especially from out of town. That’s why so many landlords turn to property management companies—but lately, finding good help has been a challenge.
We hear it all the time:
- “They won’t return calls.”
- “Tenants are complaining.”
- “They didn’t catch the damage until it was too late.”
The best companies are overloaded, and the rest are hit-or-miss. When you can’t trust your manager to protect your investment, it might be time to let the property go.
What This Means for Amarillo Real Estate
This perfect storm of rising costs and shrinking support is pushing more rental properties onto the market, especially in the Amarillo real estate space. Investors who once relied on steady cash flow are now facing stress, repairs, and dwindling returns.
But if you’re a landlord ready to move on, you’re not alone.
🏠 What Can You Do?
At Mitchell Property Group, we specialize in helping landlords sell fast—with or without tenants in place. Whether you’re looking to simplify your life, cash out, or stop the financial bleeding, we’re ready to help.
We’re landlords too. We understand the frustration, and we’re here to offer options—not pressure.
✅ Want to Talk?
📞 Call us today or
📝 Fill out our short form online to see what we can offer for your property.
Mitchell Property Group
✔ Family-owned
✔ Local experts
✔ 25+ years in Amarillo real estate