Shannon Property Management
Whether you are an active investor with a large rental portfolio or a first time home buyer considering selling/renting out your starter home, you probably are wondering what is happening with the Houston Rental Market during COVID-19. The truth is, the rental market is hot!
According to the Houston Board of Realtors, in May 2020, single-family home rental leases were up 12%, while home sales dipped for a second straight month in May. This coincided with rising Houston rents.
We believe this is due to sellers wanting to hold-off on selling and are deciding to rent their homes until conditions stabilize, which would be increasing the amount of rentals available. The same affect is happening with potential buyers now likely playing it safe and renting for the time being. In May and June 2020, we have had multiple instances of homes being rented within 5 days of being listed.
We also make it safe and easy for renters to schedule self-access showings for vacant properties. This is done by utilizing TenantTurner CodeBoxes and their pre-screening criteria....more
Resident turnover is an automatic cash flow killer. All of the administrative and advertising costs and the maintenance work to get the unit rent-ready, not to mention the lack of rent checks during vacancies, take a huge hit to your profit margins. Real Property Management Pittsburgh has some tips to help you keep a full house so that you can avoid this:
Always Screen Applicants
The resident you choose to move into your rental home can make or break your real estate investing experience. After all renting means dealing with people. Real Property Management Pittsburgh will always have a thorough screening process with any potential tenant over the age of 18. This can help give a better picture of who the person is who wants to rent your home. Background checks, rental histories, paystubs, and credit checks can all give important information into the character of an individual. It is also helpful to set the expectations from the start with your residents. Make sure they understand the lease agreement so there is no confusion or...more
Shannon Property Management
If you are into all things Houston real estate, then the Houston Chronicle's podcast Looped In is for you! Hosted by the Houston Chronicle real estate reporter, Nancy Sarnoff, the episodes discuss everything from current developments to the history of Houston. There are generally different guests on every episode. In a recent episode, they discussed the Houston real estate website, Swamplot.com, which announced on March 7, 2019, that they were no longer going to produce content - goodbye article. Swamplot was founded in 2007 by Larry Albert—an architect who teaches at Rice. Swamplot was "The" website to be in-the-know for Houston real estate. Most importantly the site reported on what made Houston such a unique and great city to live in. Listen to more on Looped In's Story of Swamplot with Nancy Sarnoff and Larry Albert.more
It’s an actuality in real estate investing that all rental properties are faced with wear and tear. As a rental property homeowner, wear and tear are presumed to be a part of regular maintenance, from paint that needs to be updated every few years to carpets that need to be replaced. These habitual repair jobs are all part of anticipating an inevitable degree of wear and tear.
Considering that, there are things that you can do to lessen the total amount of wear and tear on your rental homes. These involve using durable materials, maintaining a good working relationship with your tenants, and performing regular property evaluations.
Deciding on quality materials is a major portion in reducing the speed in which certain aspects of a rental home wear out and need to be substituted. Cheaper materials may seem cost effective at first, but cheap materials have a tendency to rapidly wear out, give an impression of being poorly made, and simply won’t stand up to heavy or even moderate wear.
When it comes to paint, carpet, flooring, light fixtures, and appliances, it’s...more