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

Property Management

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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.

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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.

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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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8 Ways Real Estate Is Your Smartest Investment

8 Ways Real Estate Is Your Smartest Investment

 

Have you been thinking about investing in Real Estate but don’t know if it’s a smart investment to make for your portfolio? You’re not alone. 

Although Real Estate has been a strong place to invest for the last 4 years many people are still sitting on the fence deciding if they should but their first rental property when the right time has already arrived.

Stop what you’re doing, read this article and learn 8 reasons why you should get started with investing in Real Estate in Houston or elsewhere across the United States right now.

1. Positive cash flow.

One of the biggest benefits to income producing real estate investments is that leases generally secure the assets. This provides a regular income stream that is significantly higher than the typical stock dividend yields.

2. Using leverage to multiply asset value.

Another important characteristic of commercial real estate investing is the ability to place debt on the asset, which is several times the original equity. This allows you to buy more assets with less money and significantly multiply asset value and increase equity as the loans are paid down.

3. Low-cost debt leveraged to multiply cash flow.

Placing “positive leverage” on an asset allows for investors to effectively increase positive cash flow from operations by borrowing money at a lower cost than the property pays out. For example, if a property generating a 6 prcent cash-on-cash return were to have debt placed on it at 4 percent, the investors would be paid 6 percent on the equity portion and approximately 2 percent on the money borrowed, thereby leveraging debt.

4. Hedge on inflation.

For each dollar that is created, there is a corresponding liability. Real estate investments have historically shown the highest correlation to inflation when compared to other asset classes, such as the S&P 500, 10-year Treasury notes and corporate bonds.

As countries around the world continue to print money to spur economic growth, it is important to recognize the benefits of owning income producing real estate as a hedge against inflation. Generally speaking, when inflation occurs, the price of real estate, particularly multi-tenant assets that have a high ratio of labor and replacement costs, will also rise.

5. Capitalize on the physical assets.

Income-producing real estate is one of the few investment classes that, as a hard asset, has meaningful value. The property’s land has value, as does the structure itself, and the income it produces has value to future investors. Income producing real estate investments do not have red and green days, as does the stock market.

 6. Maximizing tax benefits.

The US Tax Code benefits real estate owners in a number of ways, including unlimited mortgage interest deductions and depreciation accelerations that can shield a portion of the positive cash flow generated and paid out to investors. At the time of sale, IRS allows investors a 1031 provision, allowing investors to exchange into a like-kind instrument and defer all taxable gains into the future. (See your tax advisor for full explanation.)

7. Asset value appreciation.

Over time, more and more inflation has made it into the economy, drastically reducing purchasing power. However, income producing real estate investments have historically provided excellent appreciation in value that meet and exceed other investment types. Properties historically increase in value as the net operating income of the property improves through rent increases and more effective management of the asset.

Click here to read reason #8!

Get Houston Texas Property Management 

Once you buy your first rental properties you owe it to yourself to get started with Houston Texas Property Management because, property management will save you the time, money and hassle of having to manage your rental properties yourself and best of all you will be able to devote more time to growing your investment portfolio.

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

 

 

 

 

Posted by on June 14, 2016 in Real Estate Investing Tips

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What To Know When Searching For Houston Texas Property Management Companies

What To Know When Searching For Houston Texas Property Management Companies

Are you searching for Houston Texas Property Management Companies online? If so, you’ve come to the right place. Here’s what you should know when searching for a property management company.

Choose An Experienced Property Manager

Although most Houston Texas Property Management Companies claim that they are experienced when it comes to customer service, tenant retention, rent collection, maintenance and all of the day-to-day responsibilities that come with property management, you should take the time to review a company online to verify their experience.

You can do this online by searching the Better Business Bureau’s website or on social media websites like Facebook and Google my Business.

About Houston Texas Property Management Companies

Once you find a property management company that you’re interested in working with you should verify that they have actually have a team that specializes in maintenance, book keeping, and customer service because hiring a team will give you confidence that all aspects of your rental properties are professionally managed by a caring team of professionals instead of just one person.

Confirm That Your Tenants Can Pay Their Rent Online

Last of all, but most important, before continuing your search for Houston Texas Property Management Companies you should also confirm that the property management company offers their tenants the ability to pay rent online because, most renters are accustomed to paying their bills online and this will also make it easier for you to get paid as well.

Get Houston Texas Property Management

For affordable Houston Texas Property Management contact Vestpro Residential Services today by calling us at (832) 498-0016 or connect with us online.

 

Posted by on June 7, 2016 in Property Management Tips

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Houston Texas Property Management – 3 Tips for Tenant Retention

Houston Texas Property Management – 3 Tips for Tenant Retention

 

By Vestpro Residential Services, LLC

As a long time Houston Texas Property Management company we can tell you without a doubt that tenant retention is one of the keys to success with owning profitable rental properties because, the longer you have your properties rented for means you will have long term cash flow from each rental property.

If you haven’t thought about what you can do to retain your tenants this article will provide you with 3 tips you can use for tenant retention.

Tip #1 – Practice the Art of Regular Communication with Your Tenants

Although you may have the best tenants in the world, you should always practice the art of regular communication with them because, regular communication with your tenants will not only show them that you care and appreciate their business, it will also encourage them to contact you should problems occur at your rental property that need to be fixed or resolved.

Houston Texas Property Management

Tip #2 – Offer Your Tenants Incentives

Another successful Houston Texas Property Management tip that we can offer you is to consider offering your tenants incentives for doing things like paying their rent on time to reporting maintenance problems or issues to you when they occur. Some of the incentives you should consider offering your tenants include: free Wi-Fi (depending on rental property), free memberships to local health clubs and gift cards from local grocery stores.

Tip #3 – Create a Referral Program

Last of all, but most important, in the world of property management we know that if a tenant is responsible, pays their rent on time and keeps their rental clean the chances are that they have friends or family members who have similar tastes and traits so if you want to get more great tenants like the one that you currently have you should consider starting a referral program which includes paying your tenants a “bounty” when they refer people to you who may be interested in renting one or more of your rental properties.

Get Houston Texas Property Management

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

 

Posted by on June 1, 2016 in Property Management Tips

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Landlord Tenant Laws Texas

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One of the keys to success with successfully owning a portfolio of rental properties in Texas is knowing landlord tenant laws because, the longer you own rental property the more likely it is that you may face a landlord-tenant dispute so it’s best to know the laws.

Landlord Tenant Law Refresher

Landlord Tenant Laws Texas

Required Landlord Disclosures in Texas

Under Texas law, landlords must disclose specific information to tenants (usually in the lease or rental agreement), such as the identity of anyone authorized to act on the landlord’s behalf and the tenant’s rights when the landlord fails to make necessary repairs. For a full list, see Texas Required Landlord Disclosures.

Texas Security Deposit Limit and Return

Texas state law does not limit how much a landlord can charge for a security deposit. However, it does limit when it must be returned (within 30 days after a tenant moves) and sets other restrictions on deposits. See Texas Security Deposit Limits and Deadlines for more on the subject.

Small Claims Lawsuits in Texas

Tenants can sue landlords in Justice Court for the return of their deposit, up to a dollar amount of $10,000. See Filing a Security Deposit Lawsuit in Texas Justice Court for advice for tenants filing suit. Landlords defending a security deposit lawsuit should check out Texas Landlord’s Guide to Security Deposit Disputes in Justice Court.

Texas Late Fees and Other Rent Rules

State law regulates several rent-related issues, including late fees and how much time (three days in Texas) a tenant who has not paid rent has to move. For details, see Texas Late Fees, Termination for Nonpayment of Rent, and Other Rent Rules.

Tenant Rights to Withhold Rent in Texas

Tenants may withhold rent or exercise the right to “repair and deduct” if a landlord fails to take care of important repairs, such as a broken heater. For specifics, see Texas Tenant Rights to Withhold Rent or “Repair and Deduct”.

Texas Termination and Eviction Rules

State laws specify when and how a landlord may terminate a tenancy. For example, a landlord may give a Texas tenant who has failed to pay rent an unconditional quit notice that gives the tenant three days (the lease may specify a different amount of time) to move out before the landlord can file for eviction. See State Laws on Unconditional Quit Terminations and State Laws on Termination for Violation of Lease for details on these types of termination notices in Texas.

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Get Property Management Here

For affordable property management contact Vestpro Residential Services, LLC today by calling us at (832) 498-0016 or connect with us online.

We currently serve clients in Houston, Atascocita, Clear Lake, Huffman, Humble and look forward to the opportunity of earning your business!

 

Posted by on May 27, 2016 in Landlord Tenant Laws

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