Is Buying Too Many Houston Texas Rental Properties A Bad Thing?

By Vestpro Residential Services, LLC

Thanks to historically low mortgage interest rates you may be buying Houston Texas Rental Properties at a fast rate but, is it a bad thing to buy too many rental properties?

The answer to this question is yes, if you don’t have Houston Texas Property Management. Here’s why:

Rent Collection

One of the biggest problems most property owners who own homes or multi-family properties have is collecting rent from their tenants each month especially when their tenants fall behind on paying.

Thankfully when you hire Vestpro Residential Services to manage your Houston Texas Rental Properties you can have confidence that your rentals will be professionally managed and rent will be collected from your tenants on time each month eliminating the need for you to contact tenants or start collections against them if they don’t pay.

Maintenance

Another big problem for some owners has been the issue of maintenance because, it’s not always easy to handle maintenance issues if you own multiple properties.

With Vestpro on your side you will have peace of mind in knowing that your tenants will call us when they have maintenance issues and this will also help you keep tenants as well because, your tenants will know that the can depend on the property management company to solve problems when they occur instead of hearing making empty promises.

Customer Service

Last of all, but most important is customer service.

Many property owners offer customer service and poor support so that whenever there is an issue at one or more of their properties it will go unresolved for weeks or months.

At Vestpro we take pride in offering great customer service so that if your tenants call in with an issue they will be served by true customer service professionals every time.

Get Houston Texas Property Management

To learn more about how Houston Texas Property Management will make your life easier contact Vestpro Residential Services today by calling us at (832) 498-0016 or click here to contact us online.

7 Simple Curb Appeal Ideas for Your Home’s Exterior

Here are a few curb appeal ideas to improve your home’s exterior including hiding features, sprucing up windows and additions to your porch. Read more about curb appeal.

Contact Us

For more information on how to improve curb appeal for your home, or to learn more about our property management services contact Vestpro Residential Services today by calling us at (832) 498-0016 or CLICK HERE to connect with us through our website.

CoreLogic Chief Economist Perspective- July 2015

A vibrant rental market has been an outgrowth of the Great Recession and housing market crash. Apartment vacancy rates are down to their lowest levels since the 1980’s, rental apartment construction is the most robust in more than 25 years, rents are up, and apartment building values are at or above their prior peaks. But the rental market is more than just apartments in high-rise buildings.

Apartments in buildings with five or more residences account for 42 percent of the U.S. rental stock. Additionally, two- to four-family housing units comprise an additional 18 percent of the rental stock, and one-family homes make up the remaining 40 percent.1

The foreclosure crisis resulted in a large number of homes being acquired by investors and turned into rentals. Between 2006 and 2013, three million single-family detached houses were added to the nation’s rental stock, an increase of 32 percent. The increase in the single-family rental stock has been geographically broad based, but has impacted some markets more than others.

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Get A Property Management Quote 

To get a property management quote for your rental property in Houston or the surrounding area contact us today by CLICKING HERE to schedule an appointment online or by calling (832) 498-0016.

4 Tip for New Houston Texas Real Estate Investors

Houston Home For Rent

By Vestpro Residential Services

Are you thinking about investing in Houston Texas Real Estate?

Now is a great time to invest in Houston Real Estate thanks to high demand for homes and excellent mortgage interest rates.

Before you start searching for rental properties make sure you follow these 4 tips for new Houston Texas Real Estate investors because, these tips can save you the time, money and traditional learning curve which every investor has to go through when they are just getting started with buying Real Estate.

#1 – Write a Business Plan

As with any business you may have started in the past it’s important to remember that investing in Real Estate is a business and you must have a plan for the 1 to 5 years of your business.

#2 – Pull Your Credit Report

Before applying for a loan to buy your first rental property you should pull your credit report and make sure that you have credit score of 700 or higher because, a high credit score will enable you to get the best mortgage loan possible.

#3 – Pay down Your Debt-To-Income Ratio

One of the biggest things which will make your life easier when getting started with Houston Real Estate investing is paying down your debt-to-income ratio and you will be able to do this by paying off your credit cards, auto loan and other debts.

A lower debt-to-income ratio will not only mean you will have fewer debts to pay each month but this will also make it easier for you to qualify for a great mortgage loan as well.

#4 – Connect With a Great Mortgage Lender or Broker

Another important element to buying a great rental property is hiring the right mortgage lender or broker.

You want to get the best mortgage interest rate possible and connecting with multiple brokers or lenders is a great way to get an awesome mortgage interest rate.

Get Started With Houston Real Estate

To get started with buying Houston Real Estate contact us today by calling (832) 498-0016 or CLICK HERE to connect with us online.

How to Find A-Rated Tenants for Your Houston Texas Rental Properties

Houston Texas Rental Properties

By Vetpro Residential Services

HOUSTON – One of the “secrets to success” with owning Houston Rental Properties is finding A-Rated tenants, or the perfect renter for your rental property.

In this article we will share with you simple tips you can use to easily find A-Rated tenants for your Houston Texas Rental Properties.

Go Through These Tenant Checks

When renting one of your Houston Texas Rental Properties to your tenants make sure you take the time to do the following checks with your prospective tenants:

  • Background check – Look deep into their background and confirm that the tenant doesn’t have any felonies.
  • Reference check – Don’t be afraid to ask tough questions about the prospective tenant’s behavior or habits including drugs, alcohol or tobacco.
  • Credit check – They should have a FICO score of at least 685 and or a credit score of 700.
  • Work reference check – Confirm that they really are working at the reference on their application.
  • Income qualification – Make sure they earn 2.5 times the rent.

Failing to do one or all of these checks can easily cost you money because it’s easy to “go with your gut feeling” about a prospective tenant when they might have something to hide and write wrong information on their rental application.

Market Your Property in the Right Venues

When marketing your Houston Texas Rental Properties make sure you market your properties online in the following venues which include:

Rentals.com

Zillow or Trulia

Realrentals.com

AHRN.com – Use for finding military families.

Har.com

Hotpads.com

Save Time and Money Marketing Your Houston Rental Properties

For more information on how to find A-Rated Tenants, or to market your Houston Rental Properties, contact Vestpro Residential Services by calling (832) 498-0016.

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

cellphone

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.