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Houston Condo And Apartment Marketing Strategies

Houston Condo And Apartment Marketing Strategies

By Vestpro Residential Services

HOUSTON, TX – Do you have a Houston Condo or apartment that’s coming up for rent soon? If so, you’re not alone. Now is the right time for you to start thinking about renting your property and you can get it ready for rent by following the tips in this article.

Tip #1 – Start Marketing Your Houston Condo 30 Days Before Your Tenants Moves Out

Yes, it’s true that every tenant doesn’t like to be bothered but, you have a business to run and one of the keys to success with owning rental properties is using your time wisely because you don’t want to risk your rental property sitting vacant for 30 days or longer.

Start marketing your rental at least 30 days in advance, before your tenant moves out because this will give you plenty of time to find and screen the right tenant. Before showing your Houston Condo just make sure that you deliver a written notice to your tenant 24 hours in advance so they are aware that one or more individuals could be entering the rental with you to view the property.

Tip #2 – Improve Curb Appeal Now

Thankfully, you don’t have to wait 30 days to start improving the curb appeal for your Houston Condo or Apartment you can start making those improvements now. Some of the improvements you can make to the exterior of your condo include: painting the front door, power washing the patio or walkway, planting new flowers in pots outside of the rental and if it has a small yard you should clean up that yard space.

Once your tenant moves out you should schedule any inside maintenance to be done the day after your tenant is out of the rental property.

Tip #3 – Great Pictures And Video Will “Sell” The Rental

If you plan on marketing your rental property online you should have professional pictures and video taken of your rental property because great pictures and video will help to sell your rental property to the right tenants especially if you plan on marketing your rental property on websites like craigslist.org or har.com.

Tip #4 – Listen To Your Tenants Recommendations

Last of all, but most important, when your tenant moves out you should listen to their recommendations for your rental property, especially if they include tips on what needs to be fixed in the rental because, these recommendations will save you the time, money and hassle of having to make repairs to your Houston condo after new tenants move in.

Get Houston Texas Property Management

For affordable and reliable Houston Texas Property Management contact Vestpro Residential Services by calling us at (832) 971-1841 or click here to connect with us online.

 

Posted by on August 23, 2016 in Property Management Tips

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Property Management Laws Texas

Property Management Laws Texas

HOUSTON, TX. – There’s no doubt that anyone who owns rental property must follow Property Management Laws Texas if they want to have a successful portfolio rental properties that produce long term, consistent cash flow.

Some of the required property management rules that you must follow include: state rent rules, security deposit limits and return rules, provide habitable housing and you must also provide a written lease or rental agreement but what about when it comes to evictions?

FILING AN EVICTION IN TEXAS

Evictions in Texas MUST be filed in the county and precinct where the property is located. Complete the “Eviction form for Texas” and have it notarized or sign it in front of one of the Court Clerks. Bring a copy of your “Notice to Vacate” along with the eviction form and any copies that you would like to have for your own records.  You’ll be given a court date when you file your eviction with the Texas Court.

Find an Eviction Lawyer in Texas

Summary of Four Basic steps in the Texas Eviction process

  • The notice to vacate
  • Filing the Suit
  • Going to Court
  • Writ of Possession
  1. NOTICE TO VACATE

If a landlord alleges a tenant is not paying rent, the Landlord is required by law in Texas to give the tenant written notice to vacate the premises. This notice can be delivered to the tenant personally with a witness, by certified mail (return receipt requested) or by any other method allowed by law. Unless your lease specifically states otherwise, the law requires you to deliver the written notice, and then wait three days before filing your suit in Justice Court. This is a legal requirement which must be met and cannot be overlooked.

  1. FILING THE SUIT (EVICTION)

You must file an original petition with the Court and pay court costs of $72 (subject to change). These court costs pay for filing your suit, your court hearing, and for the Constable to serve the citation. The citation is the notice to the tenant that you are attempting to evict him.

  1. GO TO COURT (Both Landlord and Tenant)

LANDLORD: You must go to Court and prove your case by a preponderance of the evidence. Simply filing a suit does not necessarily mean you will win your suit. You should bring all documents and other evidence with you to Court in a well-organized fashion. At the hearing, you will have to present evidence to show that you are entitled to possession of the premises.

TENANT: If you wish to defend your position and not be evicted, you must go to court. If you fail to appear, a default judgment will most likely be awarded to the Landlord. If you need a lawyer, contact a local Legal Aide Group in Texas. Check with your local court or on this web site.

  1. WRIT OF POSSESSION

If you have won your suit in Court, and the mandatory five day appeal period has passed, and the other party is still in the premises, you can file a Writ of Possession in Court. A Writ of Possession is a Court order to the Constable to place you in possession of the property. The Writ of Possession will cost you an additional $155 (subject to change), and may be requested at the JP office where the judgment is. The Constable of your particular Precinct can answer your questions about this Writ.

How long does it take to evict someone in Texas?

From start to finish approximately three weeks.

  • 3 days from notice to vacate to filing of suit
  • 8-10 days to serve the citation- The law requires the defendant have six days’ notice before the hearing.
  • 5 days to appeal the suit following the hearing required by law.
  • 2 days- The Constable is required by law to post a 24 hour vacate notice on the Writ of Possession
  • 20-23 days is the minimum amount of time to evict someone in any County in Texas. NOTE: that any eviction suit is subject to appeal to the County Courts-at-Law.

Is there a faster way to evict someone? There is a remedy that can shorten the time period from 23 days to ten days if you prevail in Court. This is known as a Bond for Immediate Possession and includes a Notice to Defendant of the Bond for Immediate Possession. By filing a bond for immediate possession, the eviction process could be shortened provided the defendant does not request a trial or post a counter bond.

Source

Learn More About Property Management Laws Texas

To learn more about Property Management Laws Texas, or to speak with us about property management services, contact Vestpro Residential by calling us at (832) 971-1841 or CLICK HERE to connect with us online. 

 

Posted by on August 18, 2016 in Property Management Laws

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Peak Demand – How to Keep Your Houston Home Cool during the summer

Peak Demand – How to Keep Your Houston Home Cool during the summer

 >>>> Planning on renting your Houston home? Click here to get a property management quote! <<<<

HOUSTON, TX. – It’s the middle of August and Peak Demand season is here, this means that more people will be using their air conditioners at one time during the day, compared to other months in the year.

Peak Demand also means that we may experience a blackout, or rolling blackouts, as more demand is placed on the grid, this is why it’s more important than ever before for owners and renters to do what they can to keep their homes cool during the summer months.

Tips for Keeping Your Home Cool during Peak Demand

#1 – Keep Your Window Coverings Closed During The Day – This tip alone can save you money off your monthly energy bills because at least 7 percent of your energy loss comes from your windows, especially if you live in an older home and one of the easiest things you can do on Peak Demand days is keep your blinds and window coverings closed to keep the cool air from escaping your home.

#2 – Place Box Fans In Your Windows At Night – Since we have a few more weeks of hot Houston weather ahead, and potentially some more Peak Demand days, you should purchase box fans for your home and place those fans in your windows at night since the box fans will suck the cooler air into your house so you don’t have to run your A/C at night.

#3 – Change Your Sheets – One of the biggest reasons why some people sweat at night while they are sleeping is because they never changed out their flannel sheets from the winter. If your bed still has flannel sheets and thick blankets you should change out that bedding with cotton sheets and a buckwheat pillow since these will help your body to stay cooler during the night while you sleep.

Stay Cool This Summer!

Stay Cool This Summer!

#4 – Focus On Your Core Body Temperature – Another helpful thing you can do to stay cool during the summer in Houston, especially on Peak Demand days, is to focus on your core body temperature during the day and once you start getting hot you should keep yourself cool by drinking cool drinks, staying out of the sun during the heat of the day and wearing cooler clothes.

#5 – Start Grilling – If you don’t own a grill you should buy one because, grilling is another great way to beat the heat in Houston Texas since you can avoid heating up your home by cooking something in your oven at night for dinner. Grilling is very easy for just about anyone to do and there are literally thousands of grilling recipes and ideas online to choose from.

Learn More about Houston Texas

To learn more about Peak Demand in Houston Texas, or for a property management quote, contact Vestpro Residential Services today by calling us at (832) 971-1841 or click here to connect with us through our website.

 

Posted by on August 11, 2016 in Houston Texas

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For Rent in Houston TX – Small Renovations Will Boost the Value of Your Rental Property

For Rent in Houston TX – Small Renovations Will Boost the Value of Your Rental Property

Are you searching for ways to boost the value of your home For Rent in Houston TX? If so, you’ve come to the right place! At Vestpro Residential Services we manage a wide variety of rental properties in the Houston area and can tell you that small renovations will boost the value of a rental property every time.

In this article, we will share with you small renovations that you should make to your Houston Texas rental property.

Kitchen

Since we all spend the most time in kitchens and bathrooms one of the first places that you should invest some renovation money is in your kitchen. Some of the small renovations you should make in your kitchen include replacing flooring or lighting, purchasing matching appliances, repainting or refinishing cabinets and replacing door knobs and drawer pulls.

Bathroom

When it comes to the bathroom you should also focus on refinishing or repainting cabinetry, replacing drawer and door pulls, installing a new bathroom fan, removing carpeting if your bathroom still has it and of course painting the entire bathroom.

>>>>>>>>>>>>>>>>>>>> Need property management? Click here for a quote! <<<<<<<<<<<<<<<<<<<

Bedroom

In the bedroom of your Houston Texas Rental Property, you should focus on repainting the entire room, replacing flooring and replacing the light source in the bedroom with a ceiling fan.

General Improvements to Your Rental

Besides making improvements to the kitchen, bathroom and bedroom in your property For Rent in Houston TX you should also clean the HVAC / air conditioning system, replace old/outdated light fixtures throughout the rental property and improve curb appeal.

Market Your Home for Rent in Houston TX

If you’ve been thinking about renting out your home For Rent In Houston TX save the time, money and hassle of property management by contacting Vestpro Residential Services today by calling us at 832-971-1841 or click here to connect with us online.

 

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Posted by on August 1, 2016 in Property Management Tips

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For Rent in Houston – 3 Ways Property Managers Save You Time

Property Management

Need property management? Click here for a quote!

HOUSTON, TX. – Has your portfolio of properties For Rent In Houston been growing this year and you’re running out of time to enjoy the cash flow because you’re always busy managing your rentals?

If you found yourself answering yes to this question, but you still aren’t sure if it’s the decision for you to make or not for your business, this article will provide you with 3 ways a property manager will save you time.

Vacancy Prevention

This is top on the list of ways that property managers can save you time and money because when your property For Rent in Houston is sitting vacant you’re not making any money or receiving consistent cash flow.

For Rent in Houston: We Make Sure You Have Qualified Tenants

We will make sure that your rental property will be occupied by a qualified tenant and your rental property will be professionally managed so your rental property will not be vacant due to non-payment of rent or evictions.

Professional Rent Collection

As a landlord with a property For Rent in Houston, one of the biggest problems that you may have had in the past is rent collection. Thankfully, when you choose a Houston Property Manager you can have confidence that rent from your rental properties will be collected on time each month and you will also be paid on time, eliminating the need for you to contact tenants and collect rent when it’s due.

Cost-Conscious Rental Property Maintenance

Did you know that as Houston Landlord you can expect to pay the equivalent of about two months-worth of rent just on property maintenance alone each year? What’s awesome about working with a professional property management company is that you don’t have to sweat maintenance when marketing your single family home, town home or condo For Rent In Houston because we’re also budget-conscious and will use relationships that we have with local contractors to make sure that you pay the lowest maintenance or repair costs every time.

Get Property Management Here

For professional property management for your condo, town home or single family home For Rent in Houston contact Vestpro Residential Services at (832) 498-0016 or click here to connect with us online.

 

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What Are Tenants Expecting When They Move Into A Houston Rental Property?

What Are Tenants Expecting When They Move Into A Houston Rental Property?

HOUSTON, TX. – If you are planning on buying Houston Texas Rental Property it’s important for you to know that every tenant has certain “expectations” before they move in and if you want to own rental property that produces significant return on investment for you for years to come it’s important for you to exceed those tenant expectations before every tenant moves in.

The Houston Texas Rental Property Must Be Clean

The first expectation that every renter has from the moment that they walk into a Houston Texas Rental Property is that it’s going to be clean and in habitable condition and this includes clean flooring, windows, window sills and blinds.

Besides basic cleaning in the rental property the kitchen and bathrooms must also be clean and in excellent condition as well since most people will either spend the most time in the kitchen or bathroom and expect both of these areas to be ready for use immediately and not require extra cleaning after they move in.

The Rental Property Must Be Well Managed

After a tenant moves in the next thing that they will expect is for the Houston Texas Rental Property to be well-managed and this means that someone will be available 24/7 if problems or issues arise at the rental property that need to be resolved.

Part of a well-managed Houston Rental also means that promises will be kept when it comes time to make repairs or improvements to the rental property because this will keep tenants happy and content in knowing that management cares about them plus values their business.

Get Houston Texas Property Management

If you need property management for your Houston Texas Rental property contact Vestpro Residential Services by calling us at (832) 498-0016 or click here to connect with us online

 

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What Does A Houston Texas Property Manager Do?

What Does A Houston Texas Property Manager Do?

What does a Houston Texas Property Manager do? This is one of the biggest questions that property owners who manage their own rental properties have had over the years because some owners are under the misconception that we just collect a check without doing much to actually manage their rental properties.

In this article, we will break down what a Houston Texas Property Manager actually does so you will be more aware of what to expect when hiring a property manager to manage your rental properties.

Houston Texas Property Managers Ease Stress

One of the first things that Houston Texas Property Managers do is ease the stress that you may have experienced with owning rental properties in the Houston area in the past because we are your first line of defense when it comes to making sure that your rental properties are rented to the most qualified tenants, rent is collected on time every month and your single family home, condo, townhome or apartment is professionally managed each month.

Houston Property Managers Insure Efficiency

From determining what your rental property should be rented for, to coming up with a marketing plan to market your Houston Rental Property, your property manager ensures efficiency and can be relied on especially when the time comes to make repairs so you don’t have to make any of those repairs yourself or come out to your rental property to manage repairs on your rental property.

Handle All Financials

With every move in your Houston Property Manager will professionally handle the financials for your rental property which includes placing the deposit in a trust account, making payments for owners (if needed), maintain historical records for the rental property, provide easy cash-flow statements on a monthly basis and annual reporting that has been structured for tax purposes.

Get Houston Property Management

For professional Houston Texas Property Management contact Vestpro Residential Services at (832) 498-0016 or click here to connect with us online.

 

Posted by on July 13, 2016 in Property Managers

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What’s happening with the Houston Texas Apartment Market?

What’s happening with the Houston Texas Apartment Market?

HOUSTON, TX. – Over the last two years we’ve seen a huge increase in the Houston Texas Apartment Market, especially with high priced apartments, but following the decline in oil prices earlier this year many of those new apartments are sitting vacant, and renters have to be lured with a variety of smart marketing methods and bonuses including: flat screen TV’s, cruises, or cool tech gear like Apple Watches.

Occupancy Rate Falling

With an overbuilt apartment market, and a struggling jobs market, many analysts have said that the occupancy rate in Houston Texas could drop to the 80’s, especially since developers are expected to put over 20,000 more rental units on the local rental market this year, and even more in 2017.

More Houston Texas Apartment To Choose From

Since they will have more apartments to choose from, especially Class A apartments with lots of amenities, the rental market will literally favor renters and this trend is expect to continue until the price of oil increases, or more jobs are added to the area.

Right now the average rent for a Class A apartment in Houston is $1,459 per month; or $14,590 per year and although the average renter, especially Millennials know, the buying vs. renting argument, they are choosing to continue renting.

When it comes to Class B rentals, the average rent right now is $948 per month, and some of the hottest markets for finding apartments for rent in the Houston Texas area are: Montrose, Galleria and The Height’s while areas like Westwood, Alief and Sharpstown have seen increases in rent over the last year.

Get Houston Texas Property Management

Regardless of where your rental properties are located in the Houston Texas area it’s going to be more important for you than ever before for you to have professional property management to insure that your rentals are professionally managed and rent is collected on time.

Learn more about the property management services Vestpro Residential Services can offer you by calling us at (832) 498-0016 or click here to connect with us online.

 

Posted by on July 5, 2016 in Apartments

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Property Management Laws Texas – Learn More about the Texas Evictions Process

Property Management Laws Texas – Learn More about the Texas Evictions Process

One of the keys to success with owning a portfolio of profitable Texas Rental Properties is understanding property management laws in Texas, especially the evictions process because, if you don’t understand the laws you could face penalties and a lawsuit.

In this article we will share with you more information about the Texas evictions process so you know what to expect if you face the prospect of having to evict a tenant.

FILING AN EVICTION IN TEXAS

Evictions in Texas MUST be filed in the county and precinct where the property is located. Complete the “Eviction form for Texas” and have it notarized or sign it in front of one of the Court Clerks. Bring a copy of your “Notice to Vacate” along with the eviction form and any copies that you would like to have for your own records.  You’ll be given a court date when you file your eviction with the Texas Court.

 Find an Eviction Lawyer in Texas

 Summary of Four Basic steps in the Texas Eviction process

  • The notice to vacate
  • Filing the Suit
  • Going to Court
  • Writ of Possession
  1. NOTICE TO VACATE

If a landlord alleges a tenant is not paying rent, the Landlord is required by law in Texas to give the tenant written notice to vacate the premises. This notice can be delivered to the tenant personally with a witness, by certified mail (return receipt requested) or by any other method allowed by law. Unless your lease specifically states otherwise, the law requires you to deliver the written notice, and then wait three days before filing your suit in Justice Court. This is a legal requirement which must be met and cannot be overlooked.

  1. FILING THE SUIT (EVICTION)

You must file an original petition with the Court and pay court costs of $72 (subject to change). These court costs pay for filing your suit, your court hearing, and for the Constable to serve the citation. The citation is the notice to the tenant that you are attempting to evict him.

  1. GO TO COURT (Both Landlord and Tenant)

LANDLORD: You must go to Court and prove your case by a preponderance of the evidence. Simply filing a suit does not necessarily mean you will win your suit. You should bring all documents and other evidence with you to Court in a well-organized fashion. At the hearing, you will have to present evidence to show that you are entitled to possession of the premises.

TENANT: If you wish to defend your position and not be evicted, you must go to court. If you fail to appear, a default judgment will most likely be awarded to the Landlord. If you need a lawyer, contact a local Legal Aide Group in Texas. Check with your local court or on this web site.

  1. WRIT OF POSSESSION

If you have won your suit in Court, and the mandatory five day appeal period has passed, and the other party is still in the premises, you can file a Writ of Possession in Court. A Writ of Possession is a Court order to the Constable to place you in possession of the property. The Writ of Possession will cost you an additional $155 (subject to change), and may be requested at the JP office where the judgment is. The Constable of your particular Precinct can answer your questions about this Writ.

How long does it take to evict someone in Texas?

From start to finish approximately three weeks.

  • 3 days from notice to vacate to filing of suit
  • 8-10 days to serve the citation- The law requires the defendant have six days’ notice before the hearing.
  • 5 days to appeal the suit following the hearing required by law.
  • 2 days- The Constable is required by law to post a 24 hour vacate notice on the Writ of Possession
  • 20-23 days is the minimum amount of time to evict someone in any County in Texas. NOTE: that any eviction suit is subject to appeal to the County Courts-at-Law.

Is there a faster way to evict someone? There is a remedy that can shorten the time period from 23 days to ten days if you prevail in Court. This is known as a Bond for Immediate Possession and includes a Notice to Defendant of the Bond for Immediate Possession. By filing a bond for immediate possession, the eviction process could be shortened provided the defendant does not request a trial or post a counter bond.

Source

Learn More about the Texas Evictions Process

To learn more about the Texas Evictions Process, or to speak with us about our property management service, contact Vestpro Residential Services today by calling us at (832) 498-0016 or click here to connect with us online.

 

Posted by on June 29, 2016 in Property Management Tips

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How to Begin Investing in Real Estate

How to Begin Investing in Real Estate

Are you thinking about getting started in Real Estate investing in the Houston Texas area? If so, you’re not alone.

Many people have made the decision to invest in real estate over the last year thanks to historically low mortgage interest rates and demand for rental property across Houston and the United States.

In this article we will share with you several tips you can use for getting started in Real Estate investment.

How To Get Started Investing In Real Estate

Buying shares in a real estate investment trust. You can invest in a REIT, but doing so involves buying shares of a portfolio of properties. “It’s really more like buying a stock or buying into a fund,” Baron says. “It’s a completely different animal from owning real estate directly.”

“There are three layers of value – the real estate itself, the management and cash flow that supports the trust, and the fund based on the trust,” explains Gary Gastineau, founder of ETFConsultants.com, based in Bonita Springs, Florida. “It’s a very different vehicle than buying real estate, but most of us can’t just go out and buy 1 percent of a skyscraper.”
Adding a REIT to your portfolio can complement stock and bond funds, Gastineau says, but you must be sure you understand how the real estate fund is designed and how its managers will likely extract value from the holdings. You can buy shares of REITs and real estate-based funds, but the performance of the funds is based on both cash flow and gains from occasionally selling properties – a very different scenario from the typical performance drivers of stock and bond funds.

Direct ownership. This is anything but a passive investment, Baron says. “People think it’s easy money, that there’s not a lot of work, that tenants will pay on time and that pipes never leak,” he says.

Some individuals enter the market by buying a small apartment building, he explains. You should research diligently to find a good deal on a building that produces positive cash flow and has no hidden defects that will require expensive repairs. Don’t take investment guidance from a real estate agent, Baron warns. To them, everything is a good investment, because they only win a commission when you buy.

Don’t assume your personal experience as a homeowner translates to managing rentals, just on a bigger scale, he adds. From complying with fair housing rental regulations to insurance, to making sure the property complies with building codes and common-sense safety guidelines, property management dominates your wallet and your time. “It’s a very complicated asset. But because it’s a physical asset, people think it isn’t complicated,” Baron says. “People way underestimate the number of issues that come up.”

One way to test your tolerance for being a landlord is to buy a duplex or a small apartment building, with the aim of living in one unit and renting the others.

A nascent rebound seems to be buoyed by millennials who are edging into the market as owner-occupants. Thin on cash, 20-somethings are finding they can gain a toehold into homeownership by buying a small, multiunit property, such as a duplex or three-apartment building. Their plan is to live in one unit and rent out the others, says John Mosey, president and CEO of Northstar MLS, a Saint Paul, Minnesota-based data service for real estate brokers.

Although this arrangement can stretch down payment dollars, it also demands a Himalayan learning curve: first-time homeownership simultaneous with first-time landlord.

The most important consideration for potential first-time landlords is to not assume today’s rising rental rates will lift future cash flow, Mosey says. Today’s tight rental market will be eased as projects under construction enter the market. That means rents will level off, so it’s best to work cash flow and return numbers using conservative projections, Mosey says.

Key cash-flow factors include not only predictable costs, such as property taxes, but also variables that can affect the appeal of the units to potential renters. For example, Mosey says, you may think including heat and water in the monthly rent will attract renters. But the actual cost of heat and water is quite different for a single occupant compared with a unit shared by three roommates. The more water and heat they use, the less money you keep.

Source – US News

Start Investing In Real Estate With Property Management

Once you buy your first rental property in the Houston Texas area make the right decision to manage your property correctly with professional property management with Vestpro Residential Service. Contact us today by calling (832) 498-0016 or click here to connect with us online. 

 

Posted by on June 22, 2016 in Real Estate Investing Tips

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