Humble Texas Rental Property – Three Steps for Turning around a Problem Property

Humble Texas Rental Property

By Vestpro Residential Services

You’ve owned Humble Texas Rental Property for a while and are building a nice portfolio of rental properties but there’s a problem, one of your properties is getting harder to rent than others and has a high vacancy rate.

Although it might seem like you have a “problem property” on your hands, the reality is that you can turn around any Humble Texas Rental Property by following these simple tips.

Tip 1 – Check the Property for Needed Repairs

Does the property need repairs inside or outside?

Start with improving the curb appeal of your Humble Texas Rental Property then move to the inside of the home and focus on improving areas of your rental property like: flooring, cabinetry and lighting.

It may be that your rental property needs a good renovation and can be improved in one weekend by painting, refinishing the cabinetry and replacing old tile or vinyl flooring to update its look.

Tip 2 – Review Your Reputation Online

Another effective solution for dealing with a problem property is to check your reputation online to see exactly what tenants may be saying about you or your rental property.

Tip 3 – Deal with Your Bug Problem NOW

Have your tenants complained about a bug problem at your Humble Texas Rental Property? If so, you should deal with this bug problem today because, bugs can pose a health risk to tenants and a bug problem could also cause a tenant to move because they classify your rental as not being habitable.

Tip 4 – Improve Your Tenant Screening

Last of all, but most important, you should improve your tenant screening process including reviewing a tenants: credit history, work history, background and personal references.

A recent study by TransUnion shows us that residential evictions have reached a 5 year low point and this is thanks in large part to tenants having better control over their finances compared to years ago so there’s no reason to not have financially stable tenants for your rental property.

Get Humble Texas Rental Property Management

For more information on how to turn around your problem property, or to speak with us about or property management services for your Humble Texas Rental Property, contact Vestpro Residential Services today by calling us at (832) 498-0016.

Do You Respond Early To Your Houston Texas Rental Property Leads?

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By Vestpro Residential Services

HOUSTON – You’ve owned Houston Texas Rental Property for a while now but there’s a problem, with your job, family and other responsibilities it’s getting more difficult for you to rent your properties.

One of the biggest reasons why it could be getting harder for you to rent your Houston Texas Rental Property is because you are not responding to your leads early enough when they express an interest in your rental properties.

In this article we will share with you the reasons why you should be responding early to people who express an interest in your Houston Texas Rental Property and when are the best days / times to connect with leads if you are not able to call people back right away.

Why It Pays To Respond Early To Your Leads

Did you know that a recent Harvard Business Review study found that business owners who respond to their leads early are more likely to have a great conversation with those leads compared to other leads that they may not be able to connect with in 24 hours or longer?

The sooner you respond to interest or requests for information about your Houston Texas Rental Property the better because, you will be able to connect with renters who are interested in your rental before they move onto viewing another rental in Houston.

Best Days and Times to Call You’re Leads

Let’s say that you are not able to call your leads back right away but you are interested in speaking with them about your Houston Rental Property.

You should try calling your leads back on Tuesdays and Wednesdays between 8:00 am and 9:00 am or between 4:00 pm and 5:00 pm because these are traditionally the best days and times to reach people since this is when their schedules are generally beginning or ending for the day.

Save Time and Money with Property Management

To save time and money with renting your Houston Texas Rental Property, contact the property management professionals at Vestpro Residential Services today by CLICKING HERE to schedule a consultation through our website or by calling us at (832) 498-0016.

Have You Lost Control Of Your Houston Texas Rental Property?

Humble Texas Renter

By Vestpro Residential Services

Have you been working harder than ever before to manage your Houston Texas Rental Property and in spite of the demand for rentals, you still find yourself behind financially every month?

If so, this is a sign that you may have lost control of your Houston Texas Rental, but the good news is that you can turn things around financially by following these simple tips.

Create an Operating Budget and Commit To It

Your rental income, especially if you own a multi-family rental property, should always cover your expenses and leave you with profit at the end of the month.

The best way to stay on track financially is to create an operating budget and then stick with that budget each month.

When creating an operating budget you should also be prepared for payments like landlord insurance and property taxes so you’re never left unprepared when it comes to your ability to pay those bills on time when they are due.

Work On Your Leasing Strategy

Create a lease which has stronger language when it comes to late payments just so tenants know that they will receive an eviction notice and not be allowed to “slide” if they miss making their rent payments on time.

You should also improve your tenant screening process and take the time to choose the right tenants instead of “warm bodies” who can pay the rent each month.

Improve Your Marketing Strategy

Instead of hanging fliers in your local laundry mat, or posting ads on Craigslist, you should create a new marketing strategy which includes options like paid ads on websites like Zillow and local classified ad sites which are sure to be read by prospective tenants.

Let Us Help You Get Your Houston Texas Rental Property on Track

To save time, money and the hassle of managing your Houston Texas Rental Property yourself contact Vestpro Residential Services today by calling us at (832) 498-0016 or CLICK HERE.

Humble Texas Rental Property – 3 Reasons Why You Want To Have Landlord Insurance

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By Vestpro Residential Services

If you’re just getting started with owning your first Humble Texas Rental Property one of the most important things you should do to protect your best interests is have landlord insurance.

Also known as rental property insurance, landlord insurance will be your first line of defense should a disaster like a flood or tornado occur which severely damages your property.

Own Rental Property With Confidence

Besides protecting your rental property from the effects of disaster, you will also be able to own a Humble Texas Rental Property with confidence in knowing that should your HVAC, heating, air conditioning or ventilation system need to be replaced you may not have to cover that cost.

How Much Property Insurance Coverage Do You Need?

When calculating how much property insurance coverage you will need, your carrier will use the Marshall & Swift / Boeckh calculation to determine the right coverage for you since this calculation also takes into account the square footage, elevator, boiler and any unique features your rental property may have.

What Exactly Does Landlord Insurance Cover?

Landlord insurance covers the “brick and mortar” (building) and the internal systems like the HVAC, but what’s also not commonly known is that landlord insurance will also cover trees and some furnishings inside the property as well.

Get Professional Property Management Services

As with landlord insurance, it’s also important for you to have professional property management for your Humble Texas Rental Property since a property manager will save you the time, money and hassle of managing your property yourself.

To learn more about the experienced property management team we can offer you contact Vestpro Residential Services today by calling us at (832) 498-0016 or click here to connect with us online.

Learn More about How the Snowball Effect Can Help You Buy More Houston Texas Rental Property

Houston Texas Rental Property

By Vestrpro Residential Services, LLC

If you’re thinking about getting started with buying Houston Texas Rental Property one of the best things you can do is use the “snowball affect” to help you buy more real estate and build a successful portfolio of income producing rental property in the years to come.

Snowball Effect Explained

The “snowball” affect was coined by Berkshire Hathaway CEO Warren Buffett in his 2008 book called The Snowball which is about his life and investments which enabled him to build a network of well over $72 billion dollars.

Snowball basically refers to the principal of buying and holding onto your investment over time and then using your return on investment to invest more money to build your portfolio.

Snowball Effect in Real Estate Investing

Let’s say that you’re able to buy two Houston Texas Rental Properties and after expenses both properties will net you about $500 each per month, or an additional $12,000 of cash flow per year.

Now instead of spending that cash flow from your investments like most people will do you should consider saving the cash flow from your rental properties and within two years you will have enough money saved to put down on another Houston Texas Rental Property.

How the Snowball Effect Benefits You

One of the great things about the snowball effect is that if you follow this approach you would be able to buy a new rental property once a year, instead every two years, grow your portfolio, and have significant amount of cash flow coming in by the time you approach retirement.

Buy Houston Texas Rental Property

For more tips on buying Houston Texas Rental Property, or to speak with us about our property management services, contact Vestpro Residential Services, LLC today by clicking here or calling us at (832) 498-0016.

Houston Texas Rental Property – 5 Tips For Getting Your Pool Ready For Use

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By Vestpro Residential Services

HOUSTON – Does your Houston Texas Rental Property have a pool and you know that your tenants are ready to start using it?

In today’s post we will share with you 4 tips you can use to get your swimming pool ready for use.

Make Sure Your Pool Is In Great Condition

Before filling your pool you should also confirm that it’s clean and safe for use by both adults and children.

When inspecting your pool you should also review your pool equipment as well to make sure that the operating system for your swimming pool will provide proper flow and suction of water.

Verify Water Chemistry

Once you’ve inspected your swimming pool, and you’ve filled it with water, you should next check the chemistry of your pool water to insure that your pool has the proper P.H, chlorine, calcium and other levels which all swimming pools must have to offer a safe experience for their owners or guests.

Insure That Your Pool Is Safe Before Use

Besides making sure that your Houston Texas Rental Property has a swimming pool which is ready and safe for use, you should also make sure that the pool is also safe especially if there are small children living at the property.

To insure the safety of your pool you should have a fence built around it with a gate because, this will insure that little ones will not be able to find their way into the pool when adults are not looking.

Confirm Proper Signage Around Pool

Last of all, but most important, make sure that your swimming pool is safe for everyone by confirming that it has proper signage on the gate or fence which includes the following information: lifeguard status, rules for the pool, phone location and information on if diving will be allowed at the pool or not.

Rent Your Houston Texas Rental Property

To rent your Houston Texas Rental Property contact Vestpro Residential Services by clicking here or calling us at (832) 498-0016.

Humble Texas Rental Property Management Tips

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By Vestpro Residential Services

In 2015 owning rental property is one of the best ways to build wealth and generate monthly cash flow.

If you’ve been thinking about buying a Humble Texas Rental Property here are 4 things you should do with every renter.

#1 – Be Consistent

One of the most important things you want to do with every person who rents one of your properties is to be consistent and follow the same procedures with each time with prospective renters.

For example: You should always run credit checks and background checks with each renter.

Although you might be tempted to “go with your gut” with some renters, it’s important to follow the same procedures every time you deal with a renter so you can avoid any claims of racism, sexism or favoritism from renters who you might not decide to rent to.

#2 – Check References

During the process of accepting applications from potential renters it’s also important to always check references including personal and job references because, it’s easy for a renter to make those references up just to be approved for a rental property.

#3 – Keep Good Documentation

Always keep copies of rental applications, take before and after pictures of a home, and do your best to thoroughly document conversations with tenants if problems arise because, keeping good documentation will also protect your best interests should problems arise with a tenant.

#4 – Take Good Care Of Your Rentals

Last of all, but most important, your tenants will be spending their hard earned money on your Humble Texas Rental Property because they want to live there so you as the property owner should do your best to take care of your renters and provide them with the best rental experience possible

Get Property Management Help for Your Humble Texas Rental Property

For more tips on how to get started with owning Humble Texas Rental Property, or to speak with us about our property management services, contact Vestpro Residential Services by clicking here or calling us at (832) 498-0016.

Should You Sell Your Houston Texas Home Or Rent It?

houstonrealestatemarket

By Vestpro Residential Services

As a long time Houston Texas Home Owner you’ve been watching the news lately and are wondering if now is the right time for you to sell your home since you plan on retiring and downsizing in the next few years.

Before you decide to list your home here are 3 reasons why you should consider holding onto your home and renting it out.

Reason 1 – Cash Flow

A rental property will bring in positive cash flow which you can depend on in your retirement and use to supplement your income from investments or social security.

Reason 2 – A True Asset

When you own Real Estate you will still continue to own a true asset and this also means you can refinance your home then use that additional income to invest in your retirement as well.

Reason 3 – Owning Rental Property Is Easy

Thanks to property management services like Vestpro Residential Services you will be able to rent out your Houston Texas home without the traditional hassle or headaches which come with owning rental property.

We take care of everything for you so you can enjoy life and rental income as well.

Rent Your Houston Texas Home

To rent your Houston Texas Home contact Vestpro Residential Services today by clicking here to by calling us at (832) 498-0016.

FOR RENT IN HOUSTON TEXAS – HOW TO WRITE REAL ESTATE ADS PEOPLE WILL WANT TO READ

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By Vestpro Residential Services

HOUSTON – You just purchased a new property and have already started placing ads online to market it for rent in Houston Texas but there’s a problem, nobody has responded to your ads yet or requested applications, and you’re starting to get concerned.

Did you purchase the wrong property? No. One of the biggest reasons why people have not taken an interest in your home, condo, single family home or property for rent in Houston Texas is because you may have written the rental ad incorrectly.

In today’s post we will share with you 3 tips which you should use to write effective rental property listings every time.

Tip 1 – Don’t Use ALL CAPS in Your Ads

When writing a property listing it’s important to remember that the same language which you use in real life should also apply to your ad and this includes eliminating the use of ALL CAPS in a sentence since using CAPS is equal to shouting at someone during a conversation.

Tip 2 – List the Real Benefits Your Property Offers

Besides writing good quality copy for your rental listing it’s also best to remember to list the real benefits which your property offers instead of using “real estate speak”.

What’s an example of real estate speak? 3BR/2 bath.

Instead of abbreviating everything, you should focus on telling a story and writing about the things which are nearby that will interest the renters you are interested in targeting.

Tip 3 – Take Your Time Writing the Ad

Last of all, but most important, always take your time writing your rental listing, proof read it, then ask yourself if you would be interested in living in your property.

A good “rule of thumb” is that if you can’t get yourself interested in living in your home for rent in Houston Texas then you’re not going to interest potentially hundreds of other renters too.

For Rent In Houston Texas 

For more tips on how to market your home, apartment, condo or town home for rent in Houston Texas contact Vestpro Residential Services today by calling us at (832) 498-0016 or click here to connect with us online.

3 Reasons to Invest In Houston Texas Multi-Family Rental Property

Multi-Family Duplex

By Vestpro Residential Services

It’s April 2015 and now that we’ve made it through winter most people are recommending that you buy a rental property to add to your portfolio but what about Huston Texas Multi-Family Rental Property?

If you’ve never considered owning a multi-family rental property before here are 3 reasons why you should consider investing in one for 2015.

#1 – Multi-Family Rentals Are Always In Demand

After the recent economic crash the residential Real Estate market took a big hit across Houston Texas but the multi-family rental market remained stable.

One of the primary reasons why multi-family rentals continued to remain stable after the economic downturn is because many of those same people who once owned homes across Portland turned to apartments, townhomes and condos for rent.

Multi-family rentals are predicted to continue to stay in demand during 2015 and beyond as more renters especially Millennials and Baby Boomers are choosing to rent vs. buy property in Houston and across the united States.

#2 – Low Vacancy Rates

Another great aspect of owning Houston Texas Multi-Family Rental Property is that these properties tend to have low vacancy rates since some tenants will prefer to live in them for one year or longer.

This is good news for any property owner who wants to enjoy stable cash flow from their rental property.


 

#3 – A Profitable Investment

Last of all, but most important, when you own a multi-family rental property in Houston Texas you will also benefit from the fact that your rental will be a profitable long term investment for you since you will be collecting rent from more than just one unit and this means you will be able to pay off your rental quicker as well.

Houston Texas Multi-Family Rental Property

For more information about why a Houston Texas Multi-Family Rental Property is the right investment for you, or to speak with us about our property management services, contact Vestrpro Residential Services today by calling us at (832) 498-0016.