Rental Market News – Rents Show No Sign of Letting Up

images

By Vestpro Residential Services, LLC

HOUSTON – Thanks to the recent rental market news from the U.S. Labor Department we know that rents continued to increase by 3.5% year-over-year in the month of May 2015.

Rent is without a doubt one of the biggest costs consumers nationwide have to pay while food prices have also risen by 1.6 percent as well during the same period of time but one interesting thing to report is that clothing costs have decreased by 1.5 percent.

What Does This Mean To You?

One of the good things about the current economy is that after the recent havoc the economy has seen in the China and United States most economists and investors are predicting we’re not going to see an increase in mortgage interest rates this year and what’s shocking is that we could even see them lowered to 0 percent.

These factors mean that NOW is a great time for you to buy a rental property in Houston or elsewhere across the United States if you’ve been thinking about adding property to your portfolio.

How to Get Started With Buying Rental Property

To get started with buying rental property in Houston Texas or elsewhere across the United States make sure you do the following:

  1. Know what type of rental property you are searching for (example – 3 bedrooms, 2 bathrooms or 1,200 square feet). This step is important because knowing your ideal rental property will keep you from buying a more expensive rental because it has better features.
  2. Establish your budget and know the costs – This step is vital because it’s easy to go over budget when buying rental property and you will quickly realize that you can’t charge enough rent to cover your costs.

Learn More

To learn more rental market news, or to speak with us about our property management services contact us today by calling (832) 498-0016 or click here to contact us online.

Follow us

Should You Allow Smoking In Your Houston Texas Rental Properties?

1000px-NoSmoking-pn.svg

By VestPro Residential Services, LLC

You’ve worked hard to build your Portfolio of Houston Texas Rental Properties over the years but one of the biggest problems you could be facing in your rentals is smoking from tenants.

Why Smoking Will Be Bad For Your Rental Property

Although smoking is frowned on by the medical establishment, and the media, the reality is that smoking is still a problem, especially if tenants are smoking in your Houston Texas Rental Properties.

Smoking causes the following damage in a home:

Ventilation System – Since cigarette smoke also has moisture, cigarette smoke bonds itself to the air ducts and ventilation system in any home or space where someone is smoking.

Walls – Thanks to the tar and nicotine in cigarettes, smoke from cigarettes will also bond itself into flooring, walls and the furniture of your home.

Electronics – Cigarette smoke can also ruin electronic components over time, especially the systems which you may use to monitor the temperature or secure your home.

Habitability – Cigarette smokers will also affect the habitability of your rental properties, especially if you own multi-family units because, renters who don’t smoke cigarettes almost always do not want to live near other smokers.

Time for a No Smoking Policy

One of the best ways to insure that your Houston Texas Rental Properties stay smoke free is to create a no smoking policy for your properties.

Since the City of Houston already has a no smoking ordinance in place it pays to create a no smoking policy in place to protect the long term habitability of your rental properties.

Rent Your Houston Texas Rental Properties

For more information on how to efficiently manage your Houston Texas Rental Properties contact Vestpro Residential Services, LLC today by calling us at (832) 498-0016 or click here to connect with us through our website.