A vacant property is the biggest form of expense for a landlord. Every day that it remains vacant, it costs you money and hence it is best to fill the vacancy at an earliest possible opportunity. However, it is your home and thus a desperate move, for instance choosing a wrong tenant or setting the wrong rent rate, can cause you trouble.
Following are some tips to quickly and smartly fill up the vacancy:
- Know the preparation time: Ask about the rough date when the house will be vacated by the tenant. This is normally included in the contract or may be decided through mutual understanding. Ask for at least a 30 day notice period so you can plan your operational and marketing activities in time.
- Ready your house: Inspect the house and estimate the amount of time it needs to be absolutely ready for the next occupants. Line up all the workers (electrician, painters or plumbers) who will need to work on your home. As soon as the property is vacant, do not waste any time in getting the repairs started.
- Set the right price: Since you have moved ahead in time now, be realistic about your asking price. Research the neighborhood and set a price that matches your direct competitors. The price could be higher or lower than the last rent amount but whatever it is, it has to stand the competition.
- Market it well: Use all the available resources- word of mouth, flyers, online portals, ads, community visits, local agents etc. Exhaust all the options so you are satisfied that you searched well for the right tenant. Clicking good pictures of your property, keeping it clean and attractive during tenant visits are some good ways to attract good people.
- Take help from experts: Taking professional help ensures that the vacancy is filled up fast. Agents have ready databases of people who are looking for a home on rent and thus they can be really helpful in filing up the vacancy quickly. Professionals also assist in marketing which is a must to spread the word that your house is vacant.
While it is necessary that your property doesn’t sit idle for a long time, do not ignore the long term benefits of having the right tenants. Do not over stress on filling up a vacancy and invest considerable time in screening the tenants as well as making legal document that keep your interests protected.
We, at Lone Star Realty & Property Management, Inc., can help to rent out your home in Killeen, TX. For more information, call at (254) 699-7003.
Whenever you plan to buy a new home in Ft Hood, TX, it is important not to underestimate the value of a good location. You should always look for a home that has proximity to basic amenities such as school, hospital, supermarket etc. People with a job need to buy a home that is near to their workplace so that commuting is not an issue.
Below is a list of factors you need to follow in order to assess a location for your new home:
- Conduct a systematic background check: Get in touch with an experienced real estate agent in Ft Hood to determine the growth factor of a particular location over the last 10 to 15 years. You need to check if there has been a gradual increase in the home value in that area during the past years. This will assist you in getting a home in a location which has the possibility of development in the future.
- Review the quality of amenities: It is imperative to check the quality of schools around your neighborhood. This is crucial not only for your family but comes in handy when you plan to sell your property. Apart from this, see what all medical facilities and entertainment options are available nearby.
- Know about the employment opportunities: You should opt for a location offering high-paid jobs in close vicinity. The employers could be a big manufacturer, schools, hospitals or even universities. Also, commuting between two places has to be an easy task. Therefore, identify if a specific home has a conveniently located and what are the public transport options available there.
- Have a rough estimate of nearby home listings: Although having more homes for sale in your area could mean that you will get a better deal, it is not a positive sign in the longer run. You need to inquire why so many properties are listed for sale and how much time it takes to sell off a property. On an average, if it takes more than six months to sell a home, consider investing your money on some other property.
- Get a first-hand experience of the neighborhood: It is necessary that you personally visit the location before actually investing in a property there. Get into your car to drive from one place to another during peak traffic hours. See how long it takes to reach the school, office, shopping malls or other recreational areas. Once you discover all these aspects, it will be easier for you to decide if a location suits your requirements or not.
If you are looking for a home in Ft Hood, feel free to contact Lone Star Realty & Property Management, Inc. at (254) 699 – 7003.
A majority of people wait for nice weather before they start looking for a new home. Although the spring and summer season seem to be the best time of year for buying a home, there are certain advantages of searching for a home in winters. It can not only fetch you a great property but you may also end up saving a lot of money. Below is a list of some of the reasons for buying a home in the winter season:
- Lesser competition: Since most of the people avoid buying home in winters, there will be fewer buyers in the market. This eventually means you have to compete with lesser number of buyers to purchase your dream home. You can actually get a good deal at a competitive price.
- Lower prices: Fewer buyers indicate that the demand will be lesser than the supply. The outcome of this is usually in the form of lower prices as compared to what you will get during the peak real estate season.
- You can have a dedicated real estate agent: Low hustle bustle in the real estate market during the winter season will fetch you the undivided attention of real estate agents. They will work harder and ensure that you get a good deal. The lean months with low sale volumes make the realtors work harder to negotiate a home deal.
- Motivated sellers: Most of the sellers prefer to put up their homes on sale during the warmer months. This is the reason why the homes being sold during winter months are those of motivated sellers. They do not want to wait for the summer or spring season and you have a better chance of getting a much lower price for a specific home you want to buy. These sellers are willing to negotiate not only on the selling price but also on the closing costs and terms of sale etc.
- Save time and energy: During the winter months, fewer homes are put up on sale. This means you will have to check out lesser number of homes that fit your requirements. You do not have to undertake the tiring task of looking through so many homes before finalizing a particular one.
We, at Lone Star Realty & Property Management, Inc., can help you find a suitable housing option in Ft Hood, TX. For more information, you can call us at (254) 699 – 7003 or visit 1020 W Jasper Dr, Killeen, TX 76542.