Before you finalize your home purchasing decision, you need to get a home inspection. While not legally required, this is your last chance to evaluate the true condition of the property, and ensure you’re getting what you pay for. But if you want to inspect appropriately, and get the most out of your work, you should know which areas of inspection are most important.
Archives for January 2019
If you’re thinking about buying a home in the Katy, Texas area, whether it’s for your family or to use as a rental property, you might wonder whether there’s a cycle to the property prices in the area. If home prices rise and fall at steady, predictable intervals, it makes sense to wait to buy a property when prices are at their lowest—but if these cycles are hard to predict or understand, it may not be worth the effort.
One of the most commonly sought options for new landlords is a multifamily property. The idea is fairly straightforward; with a single property, you can have multiple separate units and multiple separate families, resulting in more cash flow overall, and more stability compared to a single-family home.
You collect security deposits as a means to repair damage caused by tenants and their guests. Texas law allows you to use security deposits only for repairs beyond normal wear and tear. You can’t use a tenant’s security deposit for cabinet refacing or upgrading appliances.
Normal wear and tear refers to the deterioration of a rental unit under normal use where a tenant takes reasonable care of the premises. It does not include breakage or malfunction that results from carelessness, negligence, accident, or abuse by a tenant, a family member, or a guest.
Life with roommates isn’t easy, but sometimes it’s necessary to rent out your spare room(s) to pay the bills. Whether or not you have previous experience as a landlord, these 6 tips will make it easier to live with a tenant:
Raising kids is by far the toughest and most exciting challenge you’ll undertake in your lifetime. There are moments where it’s all joy and satisfaction, as well as periods of time where you seem to be fighting a no-win battle.
One of the toughest challenges parents face is getting children to carry their weight around the home. Yet even though responsibility is key in creating humble, productive individuals who grow up to contribute to society in a meaningful way, many parents let their children slide by for too many years. By the time these children reach an age where they can carry some weight, they’ve grown so accustomed to being “leaches” that they refuse to do what they’re told.
When you think of the greatest rivalries of your time, what comes to mind? There’s Tom vs. Jerry, Yankees vs. Red Sox, Batman vs. Joker, Peps vs. Coke…and the list could go on. But for some, they would also include the rivalry of tenant vs. landlord.
Renting out a house to a random tenant comes with potential risks and rewards. In a perfect world, the tenant respects your property, delivers a rent check on time, and everyone is happy. But we don’t live in a perfect world and these sorts of renters are few and far between. To prevent yourself from being taken advantage of, it’s important that you take a firm stance against unwanted behaviors and actions.
While we often use oversimplified terms to describe real estate investments, every situation is unique. When it comes to rental properties and identifying the best rental strategy, some investors find short-term investments to be most profitable, while others prefer long-term rentals. Understanding how each could fit into your overarching strategy will allow you to make smarter, more informed decisions.
For most homeowners, their house is the place where they spend the most time throughout any given week. Thus, it makes sense that you’d want your home to be as healthy as possible. But if you don’t have a plan in place, then your home probably isn’t as healthy as it could be.