By Vestpro Residential Services
Are you planning on buying your first rental property? If so, you’re not alone. Now is a great time to buy a rental property because mortgage interest rates are still low and demand for rentals remains high especially in cities like Houston.
In this article, we will share with you several tips you can use to successfully purchase your first rental property.
Determine the Specifics of The Rental You Are Searching For
Before choosing a rental property it’s important to first determine the specific of what you’re searching for in a rental property including the location that you want to own a rental, because in most cities rental properties that are located close to downtown or close to colleges will rent for more money than rentals in suburban areas.
Set Your Budget
Since prices for Real Estate in many cities have reached all-time highs you should set your budget before you start searching for rentals because in this real estate climate it’s very easy for any buyer or first-time investor to overspend.
Create A List of Properties to View in Your Target Areas
Once you know the specifics of the property you’re searching for, and you’ve set your budget, you should next create a list of properties that match your criteria because this will help you to simplify your search especially when you use online tools to find suitable rental properties.
Some criteria that you should consider applying to your search for rental properties include:
- Bedrooms – The single-family home, condo or duplex should have at least 3 bedrooms.
- Bathrooms – 2 bathrooms are recommended.
- Square Feet – Home should have no less than 1,200 square feet.
- Age – The property shouldn’t be older than 60 years old since renovation or demo may be required due to removing things like radon and asbestos from the home
- Rent – Property should rent for a minimum of $1,200 per month
- Garage – 1-car garage is preferred
Save Time and Money with Experienced Property Management
Once you find the right rental property don’t attempt to manage it yourself, save the time, money and hassle of managing rental properties by hiring our experienced and professional property management team.
Contact Vestpro Residential Services today by calling us at (832) 498-0016 or click here to connect with us online.
It doesn’t matter how long you’ve owned rental properties in Houston TX, or the surrounding area, you’re going to one day face the prospect of your rentals competing with other rentals in the area that may have better features and or amenities. The key to success when this happens is for you to highlight your rental properties best features by doing the following.
Photograph the right features
The first step in highlighting your property’s most sellable features is to share photos of the right features—a.k.a. the features your potential tenants will care most about. These features can be both design-focused and functional; a mix of the two may appeal to the widest audience. Focus on features like crown molding, new appliances, large outdoor or patio space, and newly renovated areas of the home.
To make sure tenants see the property from every angle, put the images into a collage: “This allows somebody glancing through listings to see interior and exterior shots all at once. Because our homes are so beautifully staged, the split photos get a lot of attention and sets it apart from every other listing,” says Paul Moore, of Smith Mountain Homes.
You can also add multiple images to Facebook Carousel ads or Instagram’s new multi-photo upload feature to create a well-rounded view of the property.
Do virtual home tours
What better way to highlight your property than with a virtual tour? You can do this by taking a phone video and uploading to YouTube, or take live video with your Facebook or Instagram business page. Either way, this is also a great opportunity to engage with potential renters, so while giving the tour, ask questions. You might say:
“We just finished this bathroom, and added the brand new clawfoot tub. Do you like that vintage style? Tell me in the comments!”
“Tenants love using the back yard for grilling and hanging out with friends—the grill over there comes with the property. How often would you use this area?”
If creating all videos on a social platform, be sure to download them and upload to your YouTube channel. You can begin creating different sections for each rental property, so anyone interested in your listings can get walking tours whenever they want.
Share high-quality images
Photographing the right features is important, and the next step is taking high-quality photos. Luckily, you don’t need an expensive camera or photography experience to do that. The new iPhone 7, for example, has made it even easier for you to get expert-quality photos all on your own, thanks to its new dual lens camera, which features a wide angle and telephoto lens, according to iPhone 7 Rumors Confirmed.
Other new phones like the HTC M8 also have this feature, making it possible for you to take photos with depth of field. This is a feature traditionally found only in expensive SLR and DSLR cameras, providing you with a great opportunity for you to get high-quality photos without spending a lot.
Get Property Management Here
For affordable and professional property management contact Vestpro Residential Services today by calling us at (832) 971-1841, connect with us online, or find us on Facebook.
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.