Reasons To Choose Vestpro Residential Services In 2019 For Property Management

Are you planning on searching for a property manager in 2019 to manage your portfolio of rental properties? If so, here are the reasons to choose Vestpro Residential Services for all of your property management needs.

We Will Set the Right Correct Rates for Your Rentals

One of the biggest problems many property owners face is setting the incorrect rates for their Houston Income Properties.

We are your biggest asset in this area thanks to our market research, which will guarantee that we rent your properties for the right rates, insuring you have the right balance between stable monthly income and super low vacancy rate.

Your Rents Will Be Collected On Time

Another area where we will be an asset to your Houston Income Property portfolio is rent collection.

Over the years we’ve developed the right internal systems which will insure that your rent is collected on time every single month and deposited into your account or mailed to you.

The Most Effective Marketing For Your Rentals

As you grow your portfolio of properties you will find that one of the most time consuming duties is marketing a home, plex or property when you have a vacancy.

Vestpro has solved this problem for you. Effective property marketing is another of our biggest assets which will save you the time and hassle of property marketing yourself.

We Will Choose the Right Tenants for Your Properties

Last of all, but most important, at Vestpro we will choose the right tenants for your properties by performing the following tasks including: credit check, income verification and reference checks so you don’t have to.

Let Vestpro Manage Your Houston Rental Properties

For more information on the property management services we can offer you for your Houston Rental Properties contact Vestpro Residential Services today by calling us at (832) 498-0016 or click here to contact us through our website.

Tips For Buying Rental Properties In Houston TX

Are you planning on buying rental properties in Houston TX? If so, you’ve come to the right place! The Houston Texas area is without a doubt one of the very best locations in the United States for buying investment properties. Why? The answer is simple. Demand for rentals has only continued to grow here in recent years and this continues to make the Houston area ideal for every real estate investor.

In this article, we will share with you several tips that will help you to choose the right investment property in Houston or elsewhere in the United States.

Tip #1 –  Where Is The Property Located?

Before purchasing an investment property in Houston, you should always find out exactly where the property is located. This step is vital because, knowing the location of the property may save you from buying a property that’s in a bad neighborhood or in a location that’s not close to restaurants, stores or the businesses that your renters may want to use on a regular basis.

Tip #2 – Always Get Title Insurance

Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. … Typically the real property interests insured are fee simple ownership or a mortgage. – Wikipedia

Even though the current owner may tell you that the property has a clean title, you always want to get title insurance because you don’t want to find out about those title issues after you’ve invested in the property.

Tip #3 – Get The Rental Inspected

A good inspection of the Houston TX rental property could save you thousands of dollars because, the owner may tell you that the property was recently renovated but you’re never going to really know what’s going on with the investment property until you have it inspected.

Tip #4 – Get Houston Texas Property Management

Last of all, but most important, you should always hire a property manager to professional manage your rental property after you invest in it because, a professional property management company will save you the time, money and hassle of managing that rental yourself so you can focus on growing your portfolio of rental properties.

To learn more about the property management services we can offer you contact us today by calling (832) 971-1841 or click here to connect with us online.

Late Payments – How to Avoid Them and Get Your Tenants to Pay on Time

Ask any owner and they will tell you that late payments are literally killing their cash flow because, when the mortgage payment on their rental property is due, they will have to cover that cost themselves until their tenant pays their rent.

Thankfully, avoid late payments is possible if you use the following strategy that will help you to get your tenants to pay their rents on time so you can start avoiding late payments all together.

Enable Electronic Payments

We’re a big fan of software that allows residents to make payments online, such as many property management software solutions. In this day and age, we’re all busy. Having to physically write a check, track down a stamp, and trek to the post office to mail a payment is a hassle. Some will certainly prefer to make payments that way; but if you want to collect payments on time, leveraging electronic payments will make it easier for you to do so.

Improve Your Resident Screening Process

There will always be one-off cases of residents paying late. However, if you find that multiple residents are making late payments more often than not, it could mean that your tenant screening process is in need of a few tweaks. Be sure that you’re calling landlord references, confirming proof of employment, setting guidelines for minimum income required to lease, etc. This should help to ensure that you’re choosing high-quality residents who can afford to make their payments each month.

Hire a Property Manager

If you’re struggling to collect rent payments and dues, or you simply don’t have the time or energy to track down late payments, consider hiring a property manager. Hiring an experienced property manager can help you to implement a stronger payment system to ensure consistent cash flow moving forward, and can provide valuable expertise on these kinds of situations in the future.

Get Property Management in The Houston TX Area

For property management in the Houston Texas area contact VetPro Residential Services by calling us at (832) 971-1841 or click here to connect with us online.

Property Management Tips – How To Regain Control Of An Out Of Control Rental Property

Hаvе уоu bееn working hаrdеr thаn еvеr bеfоrе to mаnаgе уоur Houston Tеxаѕ Rental Prореrtу аnd in spite оf thе demand for rеntаlѕ, уоu ѕtіll fіnd yourself bеhіnd fіnаnсіаllу еvеrу mоnth?

If so, thіѕ іѕ a ѕіgn thаt уоu may hаvе lоѕt соntrоl оf your Houston Tеxаѕ Rеntаl, but thе gооd nеwѕ іѕ that уоu can turn things around financially bу fоllоwіng thеѕе ѕіmрlе tірѕ.

Crеаtе аn Oреrаtіng Budgеt and Cоmmіt To It

Your rеntаl income, еѕресіаllу іf you оwn a multi-family rental property, ѕhоuld аlwауѕ cover уоur expenses аnd lеаvе you with profit аt thе end оf thе month.

The best wау tо ѕtау оn track fіnаnсіаllу is tо create an ореrаtіng budget and thеn stick wіth that budgеt еасh month.

Whеn сrеаtіng an operating budgеt уоu ѕhоuld аlѕо be рrераrеd for рауmеntѕ like lаndlоrd іnѕurаnсе аnd рrореrtу tаxеѕ ѕо уоu’rе nеvеr left unprepared when іt соmеѕ tо your ability tо рау those bіllѕ оn tіmе whеn thеу are due.

Work On Yоur Lеаѕіng Strategy

Crеаtе a lеаѕе which hаѕ ѕtrоngеr language whеn іt comes to late рауmеntѕ juѕt ѕо tеnаntѕ knоw that thеу will receive аn еvісtіоn nоtісе and nоt bе allowed to “ѕlіdе” if thеу mіѕѕ making thеіr rеnt payments оn tіmе.

Yоu should also improve уоur tenant ѕсrееnіng process аnd take thе tіmе tо сhооѕе the right tеnаntѕ іnѕtеаd оf “wаrm bоdіеѕ” who саn pay the rent each month.

Imрrоvе Yоur Mаrkеtіng Strategy

Inѕtеаd оf hаngіng flіеrѕ іn уоur local lаundrу mat, оr posting аdѕ оn Crаіgѕlіѕt, уоu should сrеаtе a new mаrkеtіng ѕtrаtеgу whісh includes орtіоnѕ like paid аdѕ on websites lіkе Zіllоw and local сlаѕѕіfіеd аd sites which аrе ѕurе to bе rеаd by рrоѕресtіvе tenants.

Let Uѕ Hеlр Yоu Get Yоur Houston Texas Rеntаl Prореrtу on Track

Tо ѕаvе tіmе, mоnеу and thе hаѕѕlе оf mаnаgіng your Hоuѕtоn Tеxаѕ Rеntаl Property yourself соntасt Vestpro Rеѕіdеntіаl Sеrvісеѕ tоdау bу саllіng uѕ аt (832) 498-0016 оr CLICK HERE to connect with us online.

How to Make the Carpet in Your Rental Home Last Longer

If you’ve owned rental properties in Houston Texas or anywhere else in the United States for any length of time you know that it can be difficult at best to keep the carpeting in your rental for as long as possible because it will wear out after a period of time due to foot traffic and normal wear and tear.

Thankfully, there are solutions that you can use to help your carpet last especially if you do the following:

Combine A Hard Surface with Carpet at Entry Points

One of the first things that you can do to help the carpet in your rental property last longer is combine a hard surface area with carpet at entry points to the property.

This means that instead of encountering carpet when people enter the rental property, they will encounter a hard surface area with a floor mat that will encourage them to wipe their feet before entering the home.

Doing this will eliminate the majority of stains and wear/tear that the carpeting in your rental property gets during the year because more people will be wiping their feet.

Clean Carpet At Least Once A Year

Another effective strategy that you should use to make the carpet in your rental property last longer is to clean it at least once a year regardless if you have long-term tenants or not. Professional carpet cleaning will increase the lifespan of the carpet, reduce breakdown, wear and tear, discoloration and helps you prolong the lifespan of your investment in the carpet

Provide Tenants Your Tenants with A Vacuum Cleaner

Last of all, another effective way to prolong the carpeting in a rental property is to provide your tenants with a vacuum cleaner.

This is an effective tip to follow because the average tenant will not have a vacuum cleaner especially if they are relocating to Houston from out of state and providing them with a vacuum cleaner will not only help them to keep the carpet in the rental property clean and show them that you actually want to help them get established renting.

Get Houston Texas Property Management

For property management in Houston Texas contact VestPro residential services today by calling a set or click here to connect with us online.

Should You Invest in Real Estate to Avoid Further Losses in The Stock Market?

If you’ve been watching the news, it’s not uncommon to read that the stock market is down 600 points one day, or up 400 points the next. Sadly, this is due to the fact that the long-awaited correction in the stock market has finally arrived and many analysts are predicting that the stock market could lose up to 2,500 points in value within the next 30 days.

As an investor, one of the biggest questions that you need to ask yourself is if you should pull your money out of stocks and put it into real estate.

If you’ve been unsure about getting involved in real estate investing, this article will provide you with several reasons why real estate investing is the best investment to make right now compared to the wild roller coaster ride that is the stock market.

Stability

Over the last 20 years, real estate has been one of the most stable investments in the United States, and that stability is only expected to continue because the success of real estate is not tied to the success of the economy, it’s tied to the geographic area where the rental property is located, and of course the demand for rental properties as well.

Thankfully, in 2018-2019, the Houston Texas area continues to be one of the most highly desirable areas for relocation in the United States Because Houston has a thriving jobs market and a lower cost of living than what can be found in other states like California.

Cash Flow

Another great reason to invest in real estate is cash flow. Over the last 20 years, rental properties in Houston and across the United States have continued to produce consistent cash flow on a monthly basis even during turbulent times like the .COM bust of the late 1990’s, or the beginning of the Great Recession in 2008.

If you had your money invested in stocks over the last 20 years, imagine how much money you could have avoided losing how you been invested in rental properties instead.

Hedge Against Inflation

Last of all, but most important, another great reason to invest in Real Estate is that rental properties are an excellent hedge against inflation because, when your tenant moves out of your rental property, you can raise the rent so that it’s comparable to what other rental properties in the same area are renting for.

Contact VestPro Residential Services

To get started with investing in rental properties in the Houston Texas area contact best VestPro residential services today by calling us at (832) 971-1841 or click here to connect with us online.

New Report Shows More People Think Renting Is More Affordable Than Buying A Home

Thanks to a recent study we know that more than 70% of Americans now consider renting a home to be more affordable than buying a home.

The recent data from Freddie Mac found that close to 80% of Americans would prefer to rent instead of buy, this is up sharply from close to 67% of Americans who felt that renting was more affordable than buying a home just a short six months ago.

What’s even more shocking is that close to 58% of Renters have said that they have no plans to buy a home within the near future. This is up from 54 percent of renters who are surveyed over the same period.

What’s Happening with The Real Estate Market?

Among the usual suspects: Mortgage rates are up to nearly 5 percent, the highest they’ve been in seven years. The new rate is one percentage point higher than the beginning of the year. Rates are being pushed up by recent hikes in the Federal Reserve’s benchmark interest rate.

But it doesn’t mean renting is necessarily affordable.

Freddie Mac’s survey found that two-thirds of renters say they have had trouble paying their monthly bill in the last two years. Almost 9 out of 10 renters with occupations in what Freddie Mac considers “essential” fields — including healthcare and education — say they have had trouble cutting their landlords checks.

 

More Opportunity for You

On an encouraging note, the obvious benefit that can be gleaned from this article is the fact that with more people viewing renting as being more affordable and favorable than buying, this means more opportunities for people who own rental property.

The key to success though with owning rental property in Houston or else was across the United States is not having to do all the work yourself. Once you own a property you should hire a property management company to manage that rental property for you.

This will save you the time and hassle of having to do things like rent collection, maintenance and communicating with tenants so that you could focus on growing your portfolio of rental properties while living your normal life.

To learn more about the Property Management contact us today (832) 971-1841 or click here to connect with us online.

Will More Stock Market Investors Put Their Money in The Real Estate Investment Market?

The stock market has been experiencing another correction in recent days and with a stock market correction, it’s not uncommon for investors to put their money into the bond market or real estate investment market like commercial or residential rental properties.

This has happened before in the past before the crash of 1987 and 2008 because smart investors like to get out of stocks before their investments lose a ton of value like Amazon’s Jeff Bezos who lost a record $9 billion in one day.

Let’s say that you have $1 million in stocks, should you invest some of your money into real estate? The answer to this question is yes.

A Very Stable Investment

Like Bonds, the Real Estate investment market is very stable and can offer you an excellent return on your investment.

Real Estate is different than bonds though because with real estate you can rent it out, generate income and ultimately raise the rent for inflation compared with bonds which depending on the bond will only pay you a small return on your investment.

How Long Will the Stock Market Correction Last?

If you’re wondering how long the stock market correction will last, the answer is it’s anyone’s guess. Many institutional traders have been predicting that the market may lose up to 30% of its value but since we haven’t seen a wild swing like that there’s a good chance that the market may not lose much more value from here.

Tired of the up and down of the stock market? If you’ve been investing since before 2008, you’ve been riding the “roller coaster” for a long time.

Thankfully, with rental properties, you can enjoy long-term stability and cash flow from your investment plus a wide variety of other tax advantages compared to stocks or bonds.

Learn More About Houston Texas Real Estate Investments

To learn more about real estate investments in the Houston Texas area contact us today by calling (832) 971-1841 or click here to connect with us online.

What Are The Most Cost Effective Options To Choose When Renovating A Rental Property?

Are you planning on renovating your Houston area rental property? If so, there are a variety of cost-effective options that you should consider.

In this article, we will list some of the most cost-effective which will also help to improve the value of your rental property as well.

#1: Replace Windows

Realtors consistently emphasize the importance of curb appeal when you’re trying to market a property. Upgraded windows are a smart way to make a good impression on prospective renters while packing a powerful punch for long-term energy savings thanks to increased insulation efficiency.

Remodeling Magazine reports 74 percent cost recuperation for vinyl replacement windows and approximately 70 percent for wood. Can’t find money in your budget for either one? Consider adding storm inserts and re-caulking existing windows.

#2: Freshen Paint

One of the most cost-effective remodeling projects for an investment property is to touch up walls and trim with a fresh coat of paint. Choose neutral colors, which resonate with a wider range of prospective residents. Consider using in-house staff to do the job–you’ll still have control over the quality of the work without the need for a professional contractor. This is one project that you can DIY to keep operations simple and costs low.

#3: Switch Out Flooring

Hardwood flooring continues to grow in popularity. Durable and easy to clean with a classic look, renters tend to prefer wood or engineered wood planking to linoleum, tile, and carpet.

Engineered wood is naturally resistant to changes in humidity and temperature. Unlike genuine hardwood, planks don’t buckle, shrink, or expand. Thanks to its waterproof qualities, engineered wood flooring is even appropriate for moisture-prone areas such as a front entrance, mud area, or bathroom.

Planks can be glued, stapled, or floated over a pre-existing floor. Some even come in interlocking segments that snap together to form a tight seal. Seek different suppliers and see if you qualify for bulk pricing to replace current flooring. If your property already boasts natural hardwood floors, consider refinishing them to enhance their appearance and longevity.

#4: Update Bathrooms

A noteworthy distinction exists between mid-range and upscale bathroom remodels. According to Remodeling Magazine, you get more bang for your buck when you limit bathroom renovations to a “mid-range” budget–but what does this mean in actuality?

New faucets, shower heads, and fixtures. Look for low-flow versions that cut water consumption by as much as 30 percent.

Ceramic floor tiling. Consider a geometric or playful pattern (but not so bold as to drive renters away!). Doing so draws the eye downward and makes the room more inviting.

A new tub and toilet. Go with standard porcelain for the tub. Keep in mind that federal standards mandate that all new toilets use 1.6 gallons of water per flush.

#5: Remodel Kitchen

As with the bathroom, a minor kitchen overhaul boasts a significantly more substantial return on investment than a major remodeling project. For example, instead of replacing cabinets in their entirety, simply switch out the doors and update them with new hardware.

Replace appliances with energy-efficient models and shop around for a new mid-priced sink and faucet set. Remember to check into possible tax credits or rebates for your area.

Installing appliances requires a specialist’s help. Consider taking out a service contract to ensure that your appliances receive the care they need to stay running over time.

#6: Add Outdoor Space

Does your property contain open-air terraces or decks? Outdoor living space is a big draw for current and future renters. If adding exterior square footage is a feasible option at your properties, check into reliable sources of wood composite, which is more environmentally friendly and cost-effective than natural wood.

Is there any room left in your budget for extra material? Fashion an arbor or pergola with seating, or build large containers for seasonal plantings. Anything you can do to enhance the flow of indoor-to-outdoor living benefits your investment, both in the short and the long term.

Get Property Management In Houston Texas

For property management in the Houston Texas area contact Vestpro Residential Services by calling us at (832) 971-1841 or click here to connect with us online.

What Is the Best Way for You to Grow Your Portfolio of Houston Texas Rental Properties?

Are you interested in growing your portfolio of Houston Texas Rental properties but you’re concerned that adding another rental property may be more work or added responsibility than you can handle?

If you’re still managing all of your rental properties yourself, one of the very best ways to add more rentals to your portfolio without increasing your workload is to hire a property management company.

Reasons to Hire A Property Manager

Rent Collection – Hiring a Houston Texas property manager will save you the time, money and hassle of collecting rent yourself including dealing with the excuses from your tenants for why they are late paying their rent and when they promise to pay.

When you hire a property manager you can count on rent to be collected on time each month and deposited into your account all without you having to reach out to your tenants for payment again.

Tenant Selection – Another time-consuming task that comes with owning rental properties is tenant selection. With a property manager, you can remove yourself from this process and have confidence that your manager will always find and place the most qualified tenants in your rental property for you.

Maintenance – From mowing the lawns at one of your rentals, changing toilets or full-blown maintenance, you can have confidence that your property manager will professionally maintain your rental property, saving you the time and hassle of having to do those things yourself so you can focus all of your time on growing your portfolio of rental properties.

Customer Service – Last of all, but most important, with a property manager serving your tenants you can also rest assured that should your tenants have a question or need assistance with their rental property, they will always have someone to call to handle those issues and you won’t have to worry about your phone “ringing off the hook” again. Continue reading “What Is the Best Way for You to Grow Your Portfolio of Houston Texas Rental Properties?”