Green Residential
Tenant screening is one of the most important responsibilities of any landlord. This is your chance to make sure your property is occupied by someone who’s going to take care of it, pay for it consistently, and ideally, stay there as long as possible.
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As more states expand access to medical and even recreational marijuana, landlords are faced with a new question: do they have to permit marijuana use in their properties? On the recreational front, the question is fairly simple; just as landlords can ban cigarette smoking, they can also ban marijuana. When it comes to medical marijuana, however, the issue is not as clear.
Houston is one of the most important rental markets in the United States, with the third-highest number of apartments of any American city – but all isn’t well for the city’s tenants. In a recent study performed by the University of Texas School of Law, researchers determined that about 40% of Houston apartments were built between 1960 and 1979, a time period marked by lower safety standards. These conditions were made worse by Hurricane Harvey, which severely damaged about 43,000 units throughout the city. Taken together, a substantial portion of Houston’s apartment stock is in poor condition and may not be safe for their residents.
Ask any self-made millionaire or billionaire for a list of the best ways to build wealth and generate income, and almost every one of them will put real estate at the top. It’s one of the single most versatile and lucrative investment vehicles … and, when properly leveraged, real estate can generate thousands of dollars in additional income every single year.
When it comes to real estate investing, there are dozens of directions you can go. You can invest in single-family residential properties, multifamily properties, apartment buildings, raw land, commercial buildings, and even mobile home parks. But in addition to these investments, there’s also the niche of vacation properties.
There are many good reasons to invest in rental property. You can collect rental income in excess of your ongoing expenses, yielding an immediate profit, and eventually, you should be able to sell the property for more than you originally paid for it.
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Even if you own a lovely home and have taken care of it for years, there’s no guarantee it’s going to sell in the timeframe you want. If you’re struggling to get any offers in the first few months of your listing, it may be a sign that something’s wrong.
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The Fair Housing Act of 1968 was enacted to protect buyers and renters from discrimination. The primary prohibition makes it illegal to refuse to rent or sell to a person because of their inclusion in a protected class. Federally protected classes include race, religion, sex, color, national origin, age, and disability. The Fair Housing Act is a federal law that all Houston Landlords are bound by.
Being a landlord in Texas carries the responsibility of maintaining accurate records pertaining to tenants including maintenance, repairs, damages, and of course the rental agreement or lease. These paper documents pile up quickly, and if you’re not organized they can get lost or thrown away.
Real estate makes an excellent investment according to the experts. It’s supposed to be one of the simplest ways to start investing your money within one of the most stable markets.