As any landlord knows, finding a good tenant is hard work. You have to market your listing, show the property, collect applications, screen applicants, choose a tenant, and sign a lease agreement. It’s a time-consuming and costly process – particularly if the property sits vacant for any length of time.
Generally speaking, in tenancy situations, the landlord holds the power. They own the property, set the rules, and collect the money. In fact, the imbalance is such that tenants can find extensive information on landlord harassment online, including cases in which landlords engage in a variety of abusive actions and aggressive behaviors to get tenants to terminate their contracts. Far less recognized are those cases in which, for one reason or another, tenants are the aggressors in the relationship.
Today, a growing number of rental properties are fully equipped with smart technology, including thermostats, video doorbells and security cameras, and smart locks. In fact, many tenants have suggested they would pay more for properties equipped with these tools. Still, while such technology is popular, it’s also a source of contention. That’s because these devices can give landlords a direct connection to their tenants’ properties – even more so than a master key.
Anyone in the business world knows that names are important. A great name will stick out – it’s unique but clear, providing a sense of what the business does, likely contains keywords, and distinguishes your brand from other companies. But is what you call your apartment building or complex really that important? The audience for that name is likely much narrower than that of a clothing store or website, yet building names shape who will live there so you need to think carefully about what names you choose for your Houston area rentals.
Inheritances can be messy ordeals. Trying to figure out how to distribute someone’s assets after their death can be a confusing process (even if they’ve outlined their desires in a will), and after that, you might end up with an asset you aren’t sure how to manage or sell. That’s on top of dealing with the emotional burden of losing a loved one.
Many prospective homeowners specifically look for a home they can “grow into.” They know their family and their needs are going to change in the coming years, so rather than buying a home that suits their current situation perfectly, they look for a home that could potentially serve their situation for years to come.
This is generally a good strategy, but it isn’t a perfect one, and there are some important caveats and considerations to keep in mind before you follow through on this type of purchase.
If you’re approaching retirement age, or if you’re just forward-thinking, you might consider buying a rental property as a way to fund your retirement. Properties are one of many types of investments that could collectively yield enough returns to cover all your living expenses and then some—assuming you have enough to invest in the first place. But are they an ideal choice for someone looking for a stable, enjoyable retirement?
If you’re thinking about becoming a landlord in Houston, Texas, you’re probably wondering if it’s worth the hard work and financial risk. Being a landlord is a huge responsibility and requires a bit of cash to maintain even the simplest property. When done correctly, real estate investment returns can be high, but you need a strategy or it will take over your life.
When you own a property, repairs are inevitable. Here are the five most common repairs you’ll need to perform for tenants:
1. Leaky pipes
Whether it’s a leak under the kitchen sink, in the bathroom, or out in a pump house, leaky pipes are common. Many leaks are caused by ill-fitting pipes and broken joints, but sometimes unintentional damage can be the cause. Other causes include: