21. July 2014 16:14
The process of renting out a property is a consuming task and finding the right tenant is an even bigger one. A landlord has to ensure that he is prepared to address all the challenges of renting business before he lets a tenant in. Finding a tenant that is reliable and doesn't damage your property in any way can be very difficult. A number of things like advertising and determining the right rent for your property are the initial steps towards renting out your property. So if you are a landlord and need tips how to lease your property to the right tenants, then read below.
- Screen tenants: A property shouldn't be rented out to tenants whom you know nothing about. A tenant's credit history, references and background must be thoroughly checked. In addition, it should be ascertained they do not hold any criminal background. Tenants who do not pay their rents on time, damage the property and trash your place can easily be filtered out this way.
- Written Contract: A written rental agreement stating the terms and conditions of the lease must be given to the tenant. It documents your relation with tenant and how you will handle their complaints and repair problems.
- Handling security deposits properly: Landlords should adopt a fair means of collecting and returning security deposits. Before moving the tenant in the property, its condition should be inspected so that when the tenant moves out there are no disputes over security deposit.
- Provide adequate security: A landlord should provide security of his property against criminals. Rented properties often are targeted by criminals and therefore security of the tenant also falls in your hands.
- Making repairs: A property should be well maintained and repairs must be immediately performed on the damaged areas of the property.
- Choose the right property manager: Managers who oversee your property should be competent enough to protect and keep your property in shape. Property managers should be well notified of the areas they have to watch to prevent problems in future.
- Provide notice before entering: Tenants should be informed well in advance about the time when the landlord is going to enter the property.
- Buying Insurance: Property Damage Liability Insurance can protect you from lawsuits filed against you by the tenants and covers all the damages done to your property because of them.
- Resolve disputes: To keep your reputation as a successful landlord, try to resolve all the disputes with your tenants without any lawsuits. Issues like non-payment of rent, damages to property, noise, costly evictions etc should be solved informally and if not possible then with the help of a mediator.
If the right steps are taken, the landlord can expect success in his business. Maintaining good relations with tenants and addressing their problems on time can go a long way in ensuring good landlord tenant relationship.
For more tips, contact us at Lone Star Realty & Property Management Inc. We are located at 1020 W Jasper Dr, Killeen, TX 76542. You can also call us at (254) 699 – 7003.
14. July 2014 17:27
Everybody likes to live in the comfort and security of his or her own house. But the major dilemma that comes up in such situations is whether to go in for buying an old house or go in for a completely new construction. Both have their pros and cons and it is best to weigh in both before taking the final decision. As a prospective home owner one has plenty of options when it comes to homes in Killeen TX. Following are the major benefits of both the old homes as well as newly constructed houses, which will help you to decide what works best for you.
Benefits of buying an old house include:
- The primary benefit of buying an existing house is that it will cost less as compared to a completely new construction. As a matter of fact, an old house calls for many routine upgrade and maintenance repairs. These can force landlords to lower their sale price so as to entice buyers. So if you go in for an existing construction, you could end up saving a lot of money.
- Looking among old homes to choose one for yourself also gives you the luxury of having a multitude of styles to choose from. What adds to the appeal of an existing construction, when it comes to Killeen housing, is that it will be a part of an established community and neighborhood which augurs well from the security and safety point of view.
- A used house will also give you the freedom to know that since it has already been inhabited by people, many of the major issues and problems would have surfaced by now; and subsequently taken care of as well.
Benefits of a new construction include:
- The layout can be customized as per individual family needs. Many families today have a nuclear set-up and if you construct a new house, you can always adapt the layout to suit your requirements, which is not the case with an existing house.
- Since you are making a new house, you can easily incorporate facilities such as a gym or a swimming pool too. This saves the trouble of driving down to your nearest fitness facility daily.
- As the construction is entirely new, you do not have the headache of carrying out major repairs such as the ones for roofs and ceilings, or chimneys and furnaces.
- A new home brings with it new appliances and machinery, which is any day more energy efficient than the ones in an old house.
Depending upon your budget and other needs, you can go for either an old house or construct a new one. But make sure you do your homework well so that you make the best decision.
7. July 2014 17:09
A search for the right rental property is an arduous task, involving a lot of work, important decision-making and considering a lot of different facets and nuances. When you are looking for the right rental property of your requirements, you have absolutely no margin for error as you need to take the right decision. To guarantee better results and to make the searching process much simpler and more intuitive, you can take your search online. Online searches for rental property make things easier, as you have all the important details you need at your fingertips and a wide variety of listings to look through and choose from.
- Know what you want – The first step to successfully finding the right rental property online is to have a clear idea about what your requirements are. Decide on essential factors like the number of bedrooms, the floor area, the amenities and features that are essential for you. While making the list you should write down your requirements with their respective priorities, mentioning clearly which is an absolute necessity that you cannot compromise on, and which is an optional item.
- Find the Right Website – Next, take a look at online rental listing sites and choose the one you would use. Normally, just taking a look at a website is enough to tell you the amount of control you will have over the information you see. Ideally, you need a website which has a large variety in listings and also lets you sort and filter the data based on criteria that you set.
- Learn How to Search – You need to decide the criteria on the basis of which you would carry out searches. Search filters may include factors like locality and area, the type of property you are looking for, the number of bedroom or bathrooms or the price range for your rental. This will help you eliminate places that do not fit your requirements and help you narrow things down at the very outset.
- Features – When you have shortlisted the properties that you like from the initial search, take a thorough look at each one to know in detail about the features and amenities they provide. Keep your list close and check for balconies, household appliances, heating and air conditioning, dishwashers, closets and storage spaces and similar features to pinpoint the property that ticks all the right boxes for you.
We, at Lone Star Realty & Property Management Inc. can help you find the right rental property based on your needs and budget. You can visit us at 1020 W Jasper Dr, Killeen, TX 76542 or call at (254) 699 – 7003.