How to Rent Your Property Fast

By Vestpro Residential Services

There’s no doubt that owning rental property is an excellent investment that can help you to build wealth while establishing long-term cash flow.

Sadly, owning rentals in the Houston area or elsewhere in the United States can become a burden when those properties are sitting vacant.

Thankfully, filling those vacancies is easier than you think especially if you follow these simple tips.

1. BE PROACTIVE WITH YOUR CURRENT TENANT

Ask your tenant 90 days ahead of the lease expiration whether they plan to stay another year. Consider offering them a small (or no) rent increase if they respond within 30 days of your notice. This gives you 60 days out from the end of the lease to search for a new tenant if your current tenant decides not to renew.

The benefits of this strategy are:

1) Gives your tenants an incentive to stay longer because of the lower rent increase (eliminating turnover costs altogether).

2) If your tenants decide to move out, you will have more advanced notice and be able to begin advertising your unit sooner. That way, you may even have a new tenant lined up as soon as your current tenant moves out, preventing you from losing rental income.

You’ll also want to routinely perform property inspections and stay on top of maintenance.  This is all part of being a great landlord for your renter, which can pay dividends in the long run.  By staying on top of maintenance and addressing issues quickly, you’ll spend less time on repairs while turning over the unit. This is especially true for cases like leaky faucets, which can escalate into much larger (and more expensive) water damage repairs. The last thing you want when trying to turn over property quickly is a major construction project or having to lower the rent because the property is in a state of disrepair.

2. OPTIMIZE YOUR ADVERTISING STRATEGY

You want to cast a wide net when advertising. This is because the greater the pool of prospective tenants, the better the chances you’ll have of finding a good tenant in a reasonable amount of time. Reach out to friends and family to let them know your property is coming up for rent and ask your existing tenants for recommendations. After all, good tenants are likely to know other good tenants. Publish your listing on multiple websites for maximum exposure.

Attractive advertisements go a long way to increase your chances of attracting a larger pool of renters, and therefore, renting an apartment quickly. When your property is empty, spend the time to take professional photos that can be re-used every time there is tenant turnover. Professional photos are much more appealing for renters and being prepared ahead of time prevents you from having to enter the unit when tenants are living there. After all, the unit might not be in the best condition and the current tenant’s belongings can be distracting.

Know what features tenants want in a property and be sure to advertise those features in your ads. Make sure to point out both the positive and less desirable aspects to the apartment, so you don’t waste your time or that of prospective tenants by showing them a property that isn’t right for their needs because, say, the closets are too small.

Disclose all necessary information about the unit in the advertisement and set expectations upfront about your income and credit requirements. Be sure to include your pet policy, and list other relevant deal breakers if you have them. Make sure details of the property and your rental criteria are clearly outlined in the advertisement. This will prevent you from wasting time on showing the property to applicants who are looking for more bedrooms, storage space, etc., or who don’t fit your rental criteria.

3. UNDERSTAND THE MARKET

The rent prices of comparable properties will give you a good idea of how much you will be able to charge your own tenants. It’s important to set the right rent price, one that is in line with the going rate in the neighborhood. If you’re asking for rent that is too high, you’ll soon find you don’t have many applicants, leading to longer vacancies and more money out the door.

The good news for landlords is that it currently appears to be a landlord’s market.  There is strong demand for rental homes, low vacancy rates, and an ability to increase rent pricesAccording to the U.S. Census Bureau Housing, vacancies are currently at the lowest levels since at least 2005 with a national average of 7.3%. However, you’ll want to familiarize yourself with vacancy rates at the local level, which may not be the same as the national average. For instance, the National Association of Realtors reports that in 2014, San Jose, CA had a low vacancy rate of 4.0%, while Ocean City, NJ had a high vacancy rate of 58.4%.

Get Property Management Here

At Vestpro Residential Services we offer professional property management in Kingwood, Humble, Atascocita and the surrounding area. To learn more about our services please call us at (832) 971-1841 or click here to connect with us online.

Kingwood Property Manager

Thinking about hiring a Kingwood Property Manager but don’t know who to call? If so, contact Vestpro Property Management today by calling us at (832) 971-1841 or click here to connect with us online.

We specialize in full-service property management so if you’ve been frustrated with managing your rental properties yourself, or you’re thinking about investing in another rental but don’t want the extra workload, there’s nobody better to call than Vestpro!

Full-Service Kingwood Texas Property Management

When you hire us to be your Kingwood Property Manager you can count on us to provide you with a full suite of property management services including:

  • Tenant Screening
  • Tenant Placement
  • Rent Collection
  • Customer Service
  • Maintenance
  • And More!

Imagine no longer having to take calls from tenants at night, or on weekends! When you hire us to be your Kingwood Property Manager you can count on us to provide you with reliable service at excellent prices every time!

We Know the Kingwood Area!

Vestpro Residential Service is a local property management company that specializes in offering property management service for the entire Houston Texas metro area including Kingwood, Atascocita, Dayton, and Humble.

Instead of dealing with a faceless corporation, you hire Vestpro to be your Kingwood Property Manager you can rely on real local service from someone who really cares about your rental property.

It Makes Sense to Hire A Property Manager

It doesn’t matter if you’re buying your first rental property, or another rental to add to your portfolio, it makes good business sense to hire a Kingwood Property Manager because we will save you the time and money of managing your rental property yourself.

Hire A Kingwood Property Manager

For a free property, management quote contact us today at (832) 971-1841 or get a quote by clicking here to connect with us through our website.

How to landscape your Houston Texas rental

Spring time is here in the Houston Texas area and one of the great things about this time of year is that it’s also an excellent time for owners to landscape their rental properties.

After doing a complete property clean up at your rental property you can get your landscape looking fantastic by following these tips:

Fertilize

You may think that the old oak tree on your rental property doesn’t need tree fertilizer, but that’s far from accurate. If you have older trees on your property, then you can do light feedings several times a year. However, keep in mind that it’s better to fertilize less than to over-fertilize and cause damage to the tree.

Fertilize any ground covers after removing any debris, such as dead branches and fallen leaves. In addition, replenish any mulch beds if you notice them getting low. Harsh winter weather can take a toll on trees and shrubs, so adding more mulch will keep the roots protected until the weather gets warmer.

Turn Over the Soil

Turn over the soil on warmer days to expose insect eggs that have been laid underground and will hatch in the spring. When soil thaws and refreezes, it destroys eggs and cuts down on the overall pest population that you’ll see when summer comes. In addition, it improves the soil’s quality. This helps when it’s time to reseed or mow the lawn when it’s time for the first cut of the season.

Choose The Right Landscaping

Once your landscape is ready for planting it’s important to choose the right plants.

It’s best to choose plants that are similar to what other home owners are planting in the area just so you don’t plant anything that doesn’t make your rental stand out like a “sore thumb”.

You should also choose plants that don’t require a lot of maintenance just so landscape maintenance will be as easy as possible for your tenants.

Get Property Management Here

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

Property Management Tips – April Is A Great Time For HVAC Maintenance

As the weather warms up in the Houston Texas area, spring is also a great time for HVAC maintenance because your tenants are going to be using their air conditioners heavily in the coming months so it’s best to make sure that they are functioning correctly by doing the following.

Step #1: Inspect

The first thing that you or your HVAC technician should do is to visually inspect your entire HVAC system, looking for things such as rust, corrosion from moisture, condensation, or leaking ductwork. This is a great example of an HVAC duct in disrepair–these leaky ducts can lower the efficiency of your air conditioner, making it eat up more power and do its job less effectively in the long run.

With an HVAC system, small problems can quickly become big ones that make your system less efficient or even cause it to fail entirely.

The units themselves will need to be inspected as well, particularly for damage and dirt build-up on the fins. Even a well-cared-for unit can be damaged inadvertently by a stray bird or stick tossed by a storm.

Step #2: Clean

It’s time to clean the equipment after the HVAC system has been thoroughly inspected. Your HVAC technician will clean the evaporator coil, the drains and lines, and the condensate pan to ensure that each part of the system is running at peak performance. A dirty evaporator coil can make it harder for your A/C to cool the house, and clogged water lines can cause floods inside your home.

Your technician will also inspect all of the connections to make sure that there are no potential leak points.

Step #3: Check

The next step in your spring HVAC inspection is something that will need to be done by your HVAC technician. They will need to inspect and test all the electrical components in the HVAC system.

Inspect wiring for frayed connections or damaged insulation. Tighten any loose connections, and replace any damaged wires before your unit goes into full service for the spring.

They will also test the circuit boards that run the system, and the capacitors to ensure that they’re doing their job.

Step #4: Test

The last step is to test your HVAC system as a whole. This will include checking the coolant levels during various cycles; making sure that the run controls function properly; and ensuring that the compressor is functioning at peak levels. Your technician will also test the safety switches to ensure that the system shuts off properly when there’s a power failure.

This might sound like a comprehensive inspection, but it can be completed in just a few hours by a well-trained technician.

Get Property Management Here

For professional property management in the Vestpro Residential Services at (832) 971-1841 or click here to connect with us online.

Dayton Texas Property Management

 

Do you need Dayton Texas Property Management? If this is so, make contact Vestpro Residential Services today by calling us at (832) 971-1841 or click here to connect with us online.

Our property management business will save you the time, money and hassle of managing your rental on your own, focus on adding more rentals to your portfolio, and building wealth without your rentals becoming a second job like they are too many owners.

Dayton Texas Property Management Made Easy

Imagine never having to take a call from your tenants again or taking time out of your weekend to make repairs to your Dayton Texas Rental Property.

With Vestpro Residential Services managing your rentals for you, you can always rest easy in knowing that our experienced team of property management professionals will cover all phases of property management for you including:

  • Collect the rent
  • Maintain your rental
  • Provide excellent customer service
  • Market your rental online
  • Select great tenants
  • And so much more!

Owning Rentals Should Be Easy….

When you own a rental property in the Houston areas, the income is supposed to be passive.

Sadly, for many people, the income from their rentals isn’t passive at all and takes a lot of their time and energy.

Thankfully, with Vestpro working as your Dayton Texas Property Manager you can have confidence that your rentals will make passive income for you once again while we handle all work associated with your rental on the back end.

Now is a great time to GROW your portfolio of rental properties in the area and you can do this by hiring an Dayton Texas Property Management company to handle all of your property management needs.

Don’t miss out on capitalizing on the demand for rental properties in Dayton TX and across the Houston area! Right now, could be the best time for investing in rental properties that we will see in a generation

Learn more about Vestpro Residential Services by contacting us at (832) 971-1841 or click here to connect with us online.

Dayton Texas Property Management
Property management is only a call away! Contact us today to learn more.

Atascocita Property Management

atascocita property management

Do you need Atascocita Property Management? If so, contact Vestpro Residential Services today by calling us at (832) 971-1841 or click here to connect with us online.

Our company will save you the time, money and hassle of managing your rental property yourself so you can focus on adding more rental properties to your portfolio and building wealth without your rentals becoming a second job like they are too many owners.

Atascocita Property Management Made Easy

Imagine never having to take a call from your tenants again or taking time out of your weekend to make repairs to your Atascocita Rental Property.

With Vestpro Residential Services managing your rental for you, you can rest easy in knowing that our team of property management professionals will cover every phase of property management including:

  • Rent Collection
  • Maintenance
  • Customer Service
  • Property Marketing
  • Tenant Selection
  • And More!

Rental Properties, The Way They Should Be…

When you own a rental property, the income is supposed to be passive. Unfortunately, for many people, the income from their rentals isn’t passive especially when they manage that rental themselves.

Thankfully, with Vestpro working as your Atascocita Property Manager you can have confidence that your rentals will generate passive income for you once again while we handle all work associated with your rental on the back end.

Now is a great time to EXPAND your portfolio of rental properties in the area and you can do this by hiring an Atascocita Property Management company to handle all of your property management needs.

Don’t miss out on capitalizing on the demand for rental properties in Atascocita and across the Houston area! Right now, could be the best time for investing in rental properties that we will see in a generation

Learn more about Vestpro Residential Services by contacting us at (832) 971-1841 or click here to connect with us online.

Kingwood Texas Property Management

Kingwood Texas Property Management

Are you searching for Kingwood Texas Property Management? If so, contact Vestpro Residential Services today by calling us at (832) 971-1841 or click here to connect with us online.

Get Kingwood Texas Property Management

We specialize in full-service property management for the entire Kingwood Texas area and can offer you the following services:

  • Property Marketing
  • Tenant Selection
  • Tenant Placement
  • Rent Collection
  • Customer Service
  • Maintenance
  • And more!

If you’re still managing your Kingwood Texas rental property yourself, you owe it to yourself to find out how easy it is to have a professional property management company managing that rental property for you.

Save Time and Money

There’s no doubt that self-managing a rental property takes a lot of time and money. Thankfully, when you choose professional property management with Vestpro Residential Services, you can count on us to handle all aspects of property management for you.

How we save you time – Our experience Kingwood Texas Property Management team will save you time because you will no longer have to take calls from your tenants or make those little time-consuming repairs yourself.

How we save you money – We’re going to save you money each year by doing things like screening/placing qualified tenants, collecting the rent on time and only hiring qualified contractors to make repairs on your rental property.

Learn More About Vestpro Residential Services

To learn more about Vestpro Residential Services, and our Kingwood Texas Property Management services, contact us today by calling (832) 971-1841 or click here to connect with us online.

Humble Texas Property Management

Is it accurate to say that you are searching for Humble Texas Property Management? Provided that this is true, contact Vestpro Residential Services today by calling us at (832) 971-1841 or click here.

We have expertise in professional and dependable property management for Houston Texas and the surrounding area.

Get Humble Texas Property Management

On the off chance that you own investment property, you deserve to have our Humble Texas Property Management service professionally manage your rental property for you.

Our property administration group will make dealing with your investment property simple. You can depend on us to offer you the following services:  

  • Tenant Selection
  • Tenant Placement
  • Rent Collection
  • Customer Service
  • Maintenance
  • Repairs

We Make Owning Rental Property Hassle Free!

Envision not taking calls from occupants again around evening time, or weekends. With our Humble Texas Property Management group, you can depend on us to be there for you, professionally dealing with your investment property and getting you the most ROI conceivable.

Enlisting a property management company costs significantly less than what you think! Besides being reasonable, our Humble Texas Property Management cost is equal to the cost of one Starbucks Coffee per every day.

Reasonable, Reliable and Trustworthy Property Management

Some property managers in the Humble Texas Area are not solid or dependable, they will take your cash and not furnish you with any genuine property management services.  

Thankfully, with our Humble Texas Property Management Service, you can depend on us to do what we say and provide you with the best property management services possible.

Owning an investment property will never be tedious again or a pain! Give us a chance to show you how we will simplify your life with our professional property management services. 

Get Humble Texas Property Management

For affordable Humble Texas Property Management contact Vestpro Residential Services today by calling us at (832) 971-1841 or connect with us through our site.

 

humble texas property management

Tax Write Off’s For Landlords

Landlords have always enjoyed tremendous benefits from owning rental property. Nearly all of their expenses–such as mortgage interest–can be deducted, because owning investment property is treated the same as owning a more traditional business.

As we head into prime time tax season, it’s important for landlords to understand the various tax write-offs available to them. Wondering how recent tax reform impacts rental property owners? We’ll talk about that, too.

Here are 6 tax deductions for rental property owners to take advantage of in 2018.

2018 Tax Deductions for Rental Property Owners

#1: Interest (of All Kinds!)

Most people know that they can write off mortgage interest on investment property. That’s typically the single largest tax write-off. However, landlords can also write off any interest incurred on credit cards, lines of credit, and other loans used to acquire, improve, or perform activities related to the property. For instance, if you hosted a holiday party for residents this year and put the tab on your business credit card, you can write off that interest, too!

2018 Tax Deductions for Rental Property Owners

#2: Depreciation

Depreciation is a tricky concept for some people to understand. After all, homes tend to appreciate in value–so why would you get to write off depreciation?

Here’s what you need to know: The IRS considers residential real estate to be a depreciating asset. The building’s “useful” life is 27.5 years. This means you can write off a 1/27th of the building each year. In order to do that, you must separate out the value of the building from the value of the land. Your tax assessor’s database should give you an idea of the value of each of those components, as would an appraisal or an insurance agent’s cost estimate of the building.

More sophisticated real estate investors might want to consider doing a cost segregation study. A cost segregation study allows you to accelerate depreciation for some aspects of the property ahead of others. For instance, personal property–such as furniture, carpets, fixtures, window treatments, and appliances–can usually be fully depreciated over a 5- or 7-year period. Land improvements, such as sidewalks, paving, fences, and landscaping, can usually be depreciated over a 15-year period. The remainder of the building is depreciated over the full 27.5-year period. Cost segregations are much more nuanced than we’ll get into here, but it’s important to understand the benefits of doing a cost segregation study–particularly if you want to put more money back into your pocket on the front end of owning a rental property.

2018 Tax Deductions for Rental Property Owners

#3: Travel

Any travel related to the property, like taking a trip to a Home Depot located 30 miles away, can be written off on your taxes. Investors can even write off travel related to searching for a potential investment property, such as a trip needed to evaluate an out-of-state opportunity. There are some restrictions to this–for instance, at least half of the time spent on that trip must be related to evaluating the investment opportunity. Just be sure to keep detailed records that log your travel expenses.

2018 Tax Deductions for Rental Property Owners

#4: Employees and Contractors

Anytime you pay someone to perform services related to your property, you can deduct their wages or fees as a business expense. This is true for both landlords and homeowners associations. As always, you’ll want to keep receipts. Even if you’re just paying a neighborhood kid to shovel the driveway for $50 a pop, write up a simple receipt and keep a copy for your records.

2018 Tax Deductions for Rental Property Owners

#5: Legal and Professional Services

Landlords, property managers, and homeowners associations can all write off professional services incurred in the course of running the business. This includes any fees paid to your attorney, accountant, management company, and investment advisors. Soft costs like these are considered operational expenses, and are a requisite part of doing business–so be sure to write them off accordingly!

2018 Tax Deductions for Rental Property Owners

#6: Marketing Expenses

Did you launch a new website this year? Maybe you printed new signs for the front of the property highlighting available units. Whatever the case may be, those costs can be deducted on your taxes. Any advertising, whether for your business or for a specific property, can be written off as a business expense. This includes ads placed in newspapers, postage for mailers, or even the fee you paid to participate in a local real estate development panel. Too often, property owners, managers, and HOAs consider these costs just a routine “part of doing business” and forget to write them off–but these costs add up!

Get Property Management Here

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

 

How To Deal With Hoarding Tenants

Do you have a hoarding tenant at one or more of your rental properties? You’ve come to the right place!

Hoarding is a big problem because not only is it a fire hazard, it can also lead to serious injury or death.

Thankfully, dealing with hoarding tenants is no longer difficult especially if you follow these tips.

Tips For Dealing With Hoarding Tenants

Understand Your Responsibilities

In most states, the landlord has a responsibility to provide a habitable dwelling. This duty is often referred to as the “warranty of habitability” and is implied in nearly every standard lease agreement. In exchange, most states require tenants to keep their units “clean and sanitary.” If someone’s hoarding interferes with either party’s ability to carry out their respective duties, it’s time to take action.

Determine What’s Messy vs. Hoarding

As a general rule of thumb, we consider a person to be “hoarding” if their behavior goes beyond clutter and blocks emergency exits or doorways; interferes with ventilation or sprinkler systems; attracts pests through improper food storage; or creates hazards for other residents.

Contact the Tenant ASAP

If you suspect a person is hoarding, get in touch with that resident as soon as possible, before the problem becomes more pronounced. Remind them of their lease obligations–namely, to keep the unit clean, sanitary, and free from clutter. Perhaps there’s a reason for the clutter. Maybe someone is preparing to move. Maybe the resident is temporarily housing furniture and other items while their parents’ home is undergoing renovations. There may be a legitimate reason for the clutter; and hopefully, the matter can be resolved swiftly–before it becomes a larger issue.

Offer to Help

Consider ways that you might be able to help your hoarder tenant. Is there extra storage space in your basement that they could lease? Do you have a deal with a local facility that could offer them a discounted storage unit? Sometimes there’s nothing you can do to help–but if it seems at all possible to extend a helping hand to resolve the issue, offer that carrot before reaching for the stick.

Document Everything

In the worst case scenario, you might have to evict the hoarder tenant. You want to start preparing for the possibility now. Begin to document everything. Take pictures, videos, and notes to document the property’s condition. Keep copies of all communication between you and the tenant. You’ll want to have these records if an eviction becomes necessary.

Begin Eviction Proceedings

Nobody likes evicting a resident; but an eviction is often the last line of defense for landlords, property managers, and HOAs. You’ll want to use all of the documentation you’ve compiled to date to show the court that you’ve tried everything you could to accommodate the resident before the eviction became necessary. If an eviction seems necessary, consult with a property manager and/or real estate attorney. Evictions can be messy (and worse, expensive), so you’ll want to follow procedures to a T.

Get Property Management Here

For professional property management in the Houston Texas area contact us today by calling (832) 971-1841 or click here!