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 effect 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. TenantTurner requires a handful of pre-qualifying questions be answered by the interested tenant as well as a photo ID be uploaded onto their scheduling platform. Once approved, the interested resident can schedule a self-access showing around their schedule. This creates seamless scheduling and less human interaction which is "key" right now.
About the Author
Real estate, construction, and property management have been part of Steven Shannon’s life from the very beginning. As a fifth-generation Houstonian and Owner of Shannon Property Management, Steven combines a deep understanding of the local market with hands-on experience in construction and property operations. Before founding the company, he worked in management consulting and later managed large industrial construction and real estate development projects, experiences that helped shape his practical, solutions-focused approach to property management.
Today, Steven is dedicated to helping rental property owners maximize returns while reducing the stress that often comes with managing real estate investments. Under his leadership, Shannon Property Management has built a reputation for delivering stability, peace of mind, and exceptional service to owners and residents throughout the Houston area.
Through the company blog, Steven shares insights on property management, real estate investing, maintenance best practices, and market trends to help owners make informed decisions and protect the long-term value of their investments.