MLS: Cooperation in Competition

The Multiple Listing Service (MLS) is like a guild for real estate brokers. It's where they gather and share information about real estate properties for sale, and put it up in their databases for buyers to see. In exchange, brokers agree to compensate each other for providing the details, usually a portion of their commission.

The Stress of Being a Landlord

It's not easy collecting rent without receiving a subtle scowl from the tenant, but it must be done. As a landlord, you provide the basic necessities in your property in exchange for a fee; you even have those in writing. Why would you be frowned upon, if not turned down, for something you've a right to?

Perhaps it's the mode of collecting rent that irritates them. Landlords are often depicted in pop culture as mean, like the Pig Sty landlady from Kung Fu Hustle and Ms. Wicket from Mr. Bean: The Animated Series. Perhaps all it takes is as simple as a smile. Of course, when the renters are trying your patience, you have to exercise your authority.

Working with Houston Property Management Companies—What to Look For

A rental property, be it residential or commercial, is a great venture to invest part of your portfolio in, due in large part to the prospect of earning steady, monthly income from your tenants while allowing you more free time to spend whichever way you like. This holds especially true for property owners in Houston, where the apartment scene is slated to see quite a boom in the coming year. That being said, to make sure that your earnings are running at a good rate and your property remains well-managed and maintained, you should consider a couple of helpful tips before hiring the services of property management companies in Houston.
http://www.texasrenters.com/working-houston-property-management-companies-look/

Property Management in Houston: 2015 Projected to be a Hot Market

2015 is shaping up to be an opportune time for prospective Houston-based rental property owners, as Space City is projected to have the most number of apartments by the end of next year. According to Property Management Insider article, and as likewise emphasized in a recent MPF research report, Houston is set to have approximately 19,662 apartment unit completions in 2015, edging out Washington, DC, with its 10,875 slated units; Washington held the most number of apartments in 2014. The article also noted that Houston would also beat Los Angeles, as the latter is projected to build fewer apartments next year, wherein 2015’s projected number of LA apartments stands at 7,107 units, which is a 31% drop from the completed apartments during 2014.
http://www.texasrenters.com/property-management-houston-2015-projected-hot-market/

Best Qualities of a Property Management Company

It’s not easy to manage a rental property, especially one that is located in the middle of a bustling city. The owner’s best option is often to hire a property management company. This way he can ensure that his property is being well run, and is generating income while he spends his time in other pursuits. However, hiring a proper management company requires a vigilant eye.

Tips on Choosing the Right Property Management Companies in Houston

Prospective buyers should consider a couple of things about consulting one of the property management companies in Houston that might offer services to ‘in the market’ investors. According to an article in About Money, it is vital for property buyers to know about the responsibilities of a property management agent. Essentially, a property manager is supposed to act as the business partner of their clients; since buying and maintaining property involves investing substantial capital, a good partner should be kept abreast with all the goings-on in the said property. This includes understanding monthly operating expenses and suggesting budgeting and marketing ideas that would yield for a favorable return of investment, such as devising competitive yet appropriate rental fees for tenants.
http://www.texasrenters.com/tips-choosing-right-property-management-companies-houston/

Property Management Industry in 2015 Onwards

Property experts forecast that more apartments will be built in Houston in 2015, and these will likely become available in the later part of the year, onwards. Those who want a taste of modernity in the Space City should consider buying any one of these new residential buildings, and owners of apartment buildings must consider getting property management services.

Trusted Houston Property Management Firm Launches New Interactive Map

TexasRenters.com LLC, a trusted Houston property management firm, recently launched a newly updated interactive map that would make finding properties for rent easier for home shoppers. The map, which is embedded on the company’s website, now includes the use of new technologies such as SpotFinder to ensure that current and prospective clients would always have access to the latest relevant information on available homes for rent in the Greater Houston area. As a business that continues to deal with a growing number of customer demands, the updated version of their interactive map couldn’t have come at a much better time. The Google Maps interface that is now embedded in the company’s “Search for Homes” section offers home shoppers two options on how to proceed with hunting for the right home for rent.
http://www.texasrenters.com/trusted-houston-property-management-firm-launches-new-interactive-map/

Reasons to Hire a Property Manager

Start investing in real estate, and pretty soon, you’ll want to expand and acquire more properties for maximum profit. You might encounter management problems down the road, however. Yet by hiring a reliable manager, you don’t have to spread yourself thin over your entire estate. A property manager can help you:

Find better tenants

The best way to avoid rowdy or irresponsible tenants is to make sure your renters are screened properly to begin with. Experienced property managers require would-be tenants to produce documents validating their ability to pay rent on time. With years of experience at their disposal, property managers know how to separate the good apples from the bad ones.

Being a Landlord in Cities with Good Job Markets

Cities with booming job markets—such as Houston, Texas—represent lots of investment opportunities for enterprising individuals. As companies set up shop and create thousands of new jobs, the demand for suitable living space also increases. This makes owning and renting properties one of the best investment opportunities in such a city.

There are many benefits to being a landlord. To begin with, rental properties are a great way to earn passive income—the perfect supplement to your regular wages or other business income. If you take out a mortgage to buy the property, the rent can amortize the loan as you can use your tenants’ money to pay off your debt.

Things to Think When Looking for Houston Property Management Companies

Owners of multiple properties have many responsibilities, and it’s no wonder that some of them prefer to have someone else tend to the properties for them. Without having to give up their rights as owners, and still function well as multi-home managers, property owners in the Lone Star State can seek the help of property management companies in Houston such as TexasRenters.com LLC.
http://www.texasrenters.com/things-think-looking-houston-property-management-companies/

When Should Owners Seek Professional Property Management in Houston?

These things could lead to serious financial and legal concerns if the owners don’t attend to them properly. Knowing more about local laws on your properties’ location is important in avoiding possible infractions in the future, especially for property owners who are planning to purchase new properties within the area or state. Count all the costs involved in maintaining a property, aside from repair and renovation concerns. Property owners should also consider getting liability insurance, tax concerns as well as the terms of your lease with your potential tenants. While establishing a good relationship with your tenant is commendable, at the end of the day, you as a property owner should still stick to the terms you and your tenant agreed upon.
http://www.texasrenters.com/owners-seek-professional-property-management-houston/

Property Managers Make the Job Easier for Owners

It’s easy to be overwhelmed by the negative aspects of property management. There are just so many things to worry about, such as finding the right tenants, offering a fair and right price, ensuring that the property and its facilities are all kept in good condition, and so much more. Luckily enough, though, property management companies can rid you of those headaches, and instead add value to your investment.

A property manager has ready access to contractors and are familiar with the legal aspects of buying and selling homes. Their tasks typically include managing the tenant application process, overseeing security, collecting and accounting for rent, advertising the apartment and addressing routine maintenance.

It’s certainly possible to get a delinquent tenant, which is why hiring a property manager is so important. With them handling the screening, you’ll be able to shield yourself from rental scams and discrimination lawsuits that result from ineffective screening processes. Hiring one also guarantees better tenant retention.

Tighter rent collection is also guaranteed. Much of your success as a landlord depends on how you maintain a consistent cash-flow. A property manager can determine the best consequences for when tenants try to weasel out of paying rent.

Overall, there is less stress for the owner. Competent property managers make sure everything runs smoothly, which gives them more time to spend with their loved ones or to do the things they enjoy.

Property Management and Knowing When You Need One

Although owning properties that generate passive income brings financial freedom to people, overseeing these properties— apartments, townhouses, or condo units—can sometimes reach levels that are so stressful and taxing. Property management can solve these concerns, but how do you know if you have reached the point where you really need one? Here are a few signs that say so:

1. Too Many to Handle – One of the first and most obvious signs that you need the help of a professional property manager is the number of the apartments or condo units you own. If you have multiple properties to handle and you are having a tough time attending to all of them, then you need a property manager ASAP.

2. How Much Do You Know? - Even if you own just one or two units that you are opening to the public for rent, it doesn’t guarantee that you will be able to manage them smoothly. Ask yourself: do you really have the experience in managing real estate properties? If not, then better leave the matter to the pros.

3. Near of Far? – Lastly, how far is your house from your properties? If it takes you several hours to get to your properties, you might be wasting time and resources, which you can easily save when you hire a professional property management firm.

Why Hire Property Management Companies in Houston? Here are 3 Reasons

On-call Problem Solver
Did a kitchen pipe burst? Did inclement weather smash a few windows? If you have a dedicated property manager, you no longer have to rush to the scene to assess the damage and coordinate repairs. That leaves you more time for leisure or to attend to other business ventures.

Keep Vacancies to a Minimum
Houston property management companies keep vacancies to a minimum as well. They do this by improving the property so it becomes attractive to people, and by marketing the place effectively to give it maximum exposure to prospective tenants. Property managers also set the rent at a price point that people can afford while allowing you to earn a profit.

http://www.texasrenters.com/hire-property-management-companies-houston-3-reasons/

Property Management in Houston, TX: Rental Properties and Job Growth

Landlords also enjoy certain tax benefits, like the ability to deduct real estate taxes and mortgage interest on their rental income. They can also deduct many other operating expenses, such as utilities, insurance, repairs, and even yard care.

That being said, being a landlord can be a full-time job in itself. Thankfully, you can hire a Houston property management company to handle the nitty-gritty aspect of rental property ownership, such as rent collection, maintenance, and eviction proceedings. As such, you can just sit back and enjoy the rental income generated by your property.

http://www.texasrenters.com/property-management-houston-tx-rental-properties-job-growth/

Rent out your Property with Ease

Let's say one day you wake up with an extra house. Either you decided to move out or you basically have a massive collection of properties. Don't let it go to waste. Renting houses out can bring in decent profit.

Not having enough time or knowledge in the process of doing so is no reason to skip this opportunity. Outsourcing property managers is very popular nowadays to skip the tedious task. There are many to choose from. However, your priority should always be to get one who knows your property location the most.

Leaving the responsibility to your chosen property management company means they will handle just about all the tasks you could think of, from looking for qualified tenants who have clean records down to collections. Chasing after late payments can be very hard if you fail to check the calendar. These hired professionals will do the necessary communication to ensure up-to-date settlement. Should there be any need to evict occupants, you won’t have to worry about being emotionally drained for they will also take care of the matter.

Today, there's no need to go all through the hustle and bustle of transacting with irritating tenants. Put your estates in the market and let someone do the rest.

Do I Need Someone to Manage My Rental Property?

The answer to this question largely depends on your own management skills; if you don’t have sufficient experience, then you definitely need a pro who can run things in your stead! However, even if you do have the skills and knowhow to manage your rental property, it’s sometimes better to work with property management services instead. There are many reasons why this is the case.

Firstly, property managers shoulder most of the work, which can actually be insurmountable if you don’t have the time to spare. Supervising a rental house doesn’t just involve conducting repairs and collecting rent payments; it also involves advertising, business planning, and making investments, which are needed if you want your rental property to receive more tenants in the future.

Secondly, property management services are well-versed in supervising multiple rental properties. It already takes more than one person to manage the maintenance, security, and comfort needs of a single home, and you’ll soon find your hands full very quickly if you’re managing multiple properties. That’s why, property management services have contacts in the right places who can ensure that your properties get what they need in short order.

Lastly, these experts have excellent interpersonal skills needed to build positive and productive relationships with your tenants. If you can’t stand some of them, then it’s only logical that you hire someone else to act as your voice and face.

Signs You Need a New Property Management Company

Your property manager is supposed to help manage your properties and keep them profitable. Anything less than properly achieving those goals is doing you and your tenants a disservice. At the same time, your profits margins can suffer, which is something no investor wants to see. If you notice any of these signs, it may be time to look for a more capable property management company to take care of your investments:

Your property manager alienates tenants

In this line of business, relationships are everything. This is why a property manager who alienates your tenants should be a concern that you address quickly. The last thing you want is to acquire a poor reputation because of your property manager’s actions.

Your property manager is too lenient with violations

When you enter a contract with a tenant, you expect your tenant to hold his or her end of the agreement. When they violate the terms of your agreement, you want a property manager who is just and fair to rectify the situation. A manager who is too lenient with violations puts your property at risk, affecting your property’s ability to generate income in the future.

Your properties aren’t being rented out

No tenants mean no income, which completely contradicts the whole reason you’re in this venture in the first place. Several properties remaining empty for excessive amounts of time is a red flag, especially if your properties are well-maintained and have had no previous issues when it comes to finding tenants.

Things to do before renting out Your House

So you’ve decided to capitalize on your big, spacious house by renting it out. Before you go out in search of your first tenants, though, it’s important to get it prepared for leasing first. Think of yourself as a home seller trying to prep his home for an open house. What would you do to make sure that your buyer (tenant, in your case) gets to sign on the dotted lines?

Check for Damage

You should first check the overall condition of your house. Are the roofs leaking? Is the drywall sticking out of damaged walls in some places? Make sure that your property looks as pristine as you could make it. Your tenants just might emulate how well you keep your property, so if you don’t appear too conscious about cleanliness, they might let go as well and not care about maintaining the property.

Inspect the Plumbing

Plumbing problems can turn away a lot of your prospective tenants, so make sure that there’s nothing leaking or flat-out busted in your system. Moreover, ensure that the fixtures are all in good working order, especially the toilet.

Touch up Paint

Consider repainting the ceiling and walls, as well as any part of your home (interior and exterior) that might give your prospective tenants second thoughts about staying there. If you’re using wallpaper, consider setting up a fresh batch to make your home look fresher and cleaner.