An introduction to Renovation Loans

By | Buyers, Energy Corridor, Fulshear, Houston, Katy, Memorial, Pasadena, Pearland, Richmond, Spring, Sugar Land, Westchase | No Comments

In today’s Pro talk we introduce you to renovation loan.
You have seen lots of homes and finally you find one that fits all your needs but some areas of the house needs updating. Perhaps is the kitchen overhaul or the bathrooms updating. You have to decide whether you want to pass it up because of repairs or proceed with the purchase.

Well Joady Rubin with Certainty home loans will provide a solution to renovating your project.
This type of loan is easy to obtain. You will close the loan upfront and you will do the renovations after you close on the loan. The loan process consist of purchase price plus your renovation budget. This loan is based on the finished home with renovation done. This allows you to build some equity and be able to enjoy the home in the neighborhood you like and with the features you like to have.

Represented by a Houston Realtor.

Thanks for watching another episode of our Pro talk show. Renovation loan is the perfect solution for your project.

Connect with us.We always do our best to provide you with relevant resources and introduce professionals with their services. Share this video and contact us for all your real estate needs.

Property Management Houston – Application – Your Assurance

By | Property Management | No Comments

Houston property management Houston, TXProperty Management Houston Tenant Application Screening Process

As a reliable property management firm for the Houston area, Your Dream Real Estate’s innovative tools and strategic marketing is designed to 1) showcase your property and 2) attract the most desirable tenants.

Houston Best Property Management Tenant Screening

With Your Dream Real Estate, a property management firm in Houston, our screening process includes:

  • Conducting background checks
  • Pulling credit reports
  • Investigating criminal backgrounds
  • Determining a history of eviction, broken leases or foreclosures
  • Checking employment and income

Integrity Property Management Assures Best Tenant Placement for Houston Properties

Integrity in our Houston property management practice means that our property managers will communicate with the property owner regularly, so that they are up to date on every detail of their property.

Since our professional property management services include conducting periodic inspections of the Houston properties that we manage, there are two specific instances in which we tell potential tenants not to apply:

  • If a tenant is not okay with us periodically stopping by and taking interior pictures.
  • If they are not okay with us placing a key box on the property during the last 30 days of the property lease agreement to show the home. Your Dream Real Estate’s lease agreement is very specific that we will be marketing and showing the home prior to the current lease termination.

Houston Professional Property Management Business Relationships

As Texas licensed real estate agents in the state of Texas, our Houston property management services represent the property owner first and foremost. As property managers, we are the landlord. The tenant and landlord relationship is a business relationship.

Our reliable property management communication is open 24/7 for tenants and a businesslike and courteous attitude is expected. Anyone who is disrespectful, or in general, displays an attitude during the showing, or application process, may mean that we deny the application. See our complete application process and screening criteria at (http://yourdreamre.com/agents/)

Houston’s Best Property Management is FFHA and FCRA Compliance

Your Dream Real Estate Property Management is in full compliance with FFHA, Federal Fair Housing Act, and FCRA, Fair Credit Reporting Act. Your Dream Real Estate, a property management company in Houston, is also in full compliance with all state and local fair housing laws.

Full Houston Property Management Application Criteria

Please download and read carefully our full property management application process. We also highly encourage applicants to view the property prior to applying. Click here for our Houston Property Management application.

Your Dream Real Estate Houston Property Management looks forward to a professional business relationship with both tenants and owners for Katy, Houston, Energy Corridor, Spring, Westchase, Memorial, Richmond, Sugar Land, Pearland, Pasadena, Fulshear, and beyond! Contact us for all your owner or tenant needs.

What happens when tenant stops paying the rent?

By | Energy Corridor, Fulshear, Houston, Katy, Landlord, Memorial, Pasadena, Pearland, Property Management, Richmond, Spring, Sugar Land, Westchase | No Comments

What happens when tenant stops paying the rent? Advise from Houston Property Manager

You have two options, Number one, be the nice guy and let the tenants enjoy your property for free. But what about the expenses that still need to be paid.

Option number 2, make the right decision, get your property back in the shortest amount of time and put a stop to your losses.

It is important to take action right away. Even if the tenant is asking for more time, you need to send the right notices on time.

A professional property management company, knows when and how to deliver the right notices to save you time and money.

Here at Your Dream Real Estate, we send the notices at no additional charge, just this simple action, will save you time as well as money. Because an attorney will charge for each notice they send.

Contact us if you have any questions or concerns.

How to Hire Property Management Services in Houston

By | Property Management | One Comment

A local, Houston professional property management company can be one of your greatest assets, next to the actual properties that are managed on your behalf. To select a reliable property management service, you need to research professional property management companies. Preferably, property management services should be local to your Katy, Houston, Energy Corridor, Spring, Westchase, Memorial, Richmond, Sugar Land, Pearland, Pasadena, Fulshear, or other Texas community.

The following questions are designed to help guide your process and to help you make a wise decision in your choice of reliable property management services. There’s nothing worse than bad property management. But a great rental management company will result in more money, less risk and much less stress.

Are their property management services local to Katy, Houston, Energy Corridor, Spring, Westchase, Memorial, Richmond, Sugar Land, Pearland, Pasadena, Fulshear, or your specific Texas community.

 It’s important that property managers are local to your community. It provides a connection and offers a sense of community pride and the type of tenants best suited for your real estate.

Does the company leadership own rental properties themselves?

A professional property management team will be active investors themselves. If not, they will not have a clear understanding to know what is needed to excel in your rental market area. They should be able to feel your pain and know everything a landlord needs to deal with to provide reliable property management service.
Are they members of the National Association of Residential Property Managers (NARPM)?

Being a member of a large rental property association such as NARPM means the property management company takes their business seriously. NARPM sets a high standard of excellence in rental property services of professionalism, fair housing practices, and business ethics.

How does the rental management company handle their property maintenance? Do they have local property maintenance team?

It is important to know up front, how they handle their property maintenance. If maintenance for the property is needed, how do they address maintenance issues. And if property maintenance occurs, do they charge anything on top of the actual repair?

Ask about all the fees and expenses for their property management services, including repairs.

Some rental management companies charge a percentage of the rent, some charge a flat fee. Time and effort that a property manager spends on each property, doesn’t change with the rent amount, so why charge more when doing the same thing?

Additional questions to ask as you research a rental management company:

When you contact the property management services, who answers the call? Is it the sales person or someone who is involved in day to day tasks? Does the company use the best property management services software, technology, social media and other strategic advertising and marketing?

Communication is indispensable between owners, tenants, and the property manager. Having great software for communication, tenant screening, streamlining applications and approvals, record keeping, and accounting, is vital for a professional property management company.

Your Dream Home Real Estate Property Management Services in Houston, Katy, Houston, Energy Corridor, Spring, Westchase, Memorial, Richmond, Sugar Land, Pearland, Pasadena, Fulshear and beyond

With Your Dream Home Real Estate property management services, you, and your tenants, can expect superior, first rate rental management. Through the years, we have learned from our successes and failures in property management services. Through these experiences, we have built a successful professional property management business model helping owners with rental management, whether it is one property or 50 properties.

  • Your Dream Home Real Estate management services offers you peace of mind for your rental property management needs. We are active and local in both the Houston and surrounding areas and Austin communities as investors as well as managing rental residential properties.
  • Your Dream Home Real Estate stays on top of your property maintenance needs. By conducting regular property inspections, we will be able to make recommendations on preventative property maintenance which will cut down on the risk of expensive emergency property maintenance repairs.
  • Your Dream Home Real Estate has a flat fee property management model for our real estate management services. Whether the property rents for $800 or $2,000 monthly, there are no complicated percentages to calculate.
  • Your Dream Home Real Estate property management team communicates regularly with you through monthly reports that are emailed as well as available through our owner website portal. Part of our property management services include a web portal for both owners and tenants, so we can be reached 24/7.

Your Dream Real Estate is a family-owned, professional property management and realty company based in Houston, Texas. Contact any member of our team directly by email or phone. We’ll be happy to meet with you.

Flood Insurance Misconceptions in Texas

By | Buyers, Landlord, Property Management, Sellers | No Comments

Today’s Pro Talk is about flood insurance misconceptions.

Since 1978, the NFIP( National Flood Insurance Program) has paid nearly $50 billion for flood insurance claims and related costs. Don’t be a victim.
Here are some misconceptions about flood insurance you need to know:

  1.  your homeowners’s policy does not cover flood related issues. They are two different policies.
  2. Flood insurance is an affordable investment. Imagine a few dollars you spend now to protect your home against all flood related cost which could add up to thousands of dollars, not to mention your irreplaceable belongings, something to think about.
  3. No need for flood insurance with history of no flooding. This does not hold true anymore. In fact, 25% of all claims paid are loses due to homes locate in the neighborhoods effected by flood in the low-to-moderate risk which probably never flooded before.
  4. Is the flood insurance required by mortgage companies? While that is true at times, most companies only demand homeowner to carry a flood policy if they live in a special flood hazard area. You can not afford not to be covered.

How to Qualify Applicants – Finding the Right Tenant For Your Rental Property

By | Landlord, Property Management | No Comments

There are 3 main areas for qualifying the applicants for your rental property.

First, as a landlord, you should be familiar & practice Fair Housing Laws. You can not discriminate against protected classes. You should also deliver to the applicant the Qualification Criteria form before they apply.

Second, You must run a back ground check including criminal, rental, eviction, and credit. Using the right tools are essential in this process & you must rely on a very comprehensive system that covers a nationwide data base.

Third. A through examination of income& employment will determine the persons ability to make the monthly payment. Make sure the employment is contiguous & not a temporary job and the W-2s & pay stubs are verified as well.

Priority Tasks For Moving Into Your New Home in Houston

By | Buyers | No Comments

Moving into a new home is an exciting time, and you’re probably daydreaming about decor and paint schemes and new furniture. But before you get into the fun stuff, there are some basics you should cover first.

Change the locks

Even if you’re promised that new locks have been installed in your home, you can never be too careful. It’s worth the money to have the peace of mind that comes with knowing that no one else has the keys to your home. Changing the locks can be a DIY project, or you can call in a locksmith for a little extra money.

Steam clean the carpets

It’s good to get a fresh start with your floors before you start decorating. The previous owners may have had pets, young children, or just some plain old clumsiness. Take the time to steam clean the carpets so that your floors are free of stains and allergens. It’s pretty easy and affordable to rent a steam cleaner—your local grocery store may have them available.

Call an exterminator

Prior to move-in, you probably haven’t spent enough time in the house to get a view of any pests that may be lurking. Call an exterminator to take care of any mice, insects, and other critters that may be hiding in your home.

Clean out the kitchen

If the previous occupants wanted to skip on some of their cleaning duties when they moved out, the kitchen is where they probably cut corners. Wipe down the inside of cabinets, clean out the refrigerator, clean the oven, and clean in the nooks and crannies underneath the appliances.

Safety Policy and Procedure

By | Buyers | No Comments

Your Dream Real Estate is a full brokerage and property management company in Houston. When it comes to personal on-the-job safety, real estate professionals are in a unique position. Because the nature of this business creates unusual safety concerns, it is critical to rely on certain protocols when working with every client.

Initial Meeting:

Instead of meeting you as a client for the first time at a vacant home we prefer to meet with you at our office or any public places. Please don’t be offended, after all you do not want to meet with a stranger at a vacant house, would you?

Documentations

At this meeting don’t be surprised if your realtor wants to make a copy of your id, mortgage pre-approval letter and gets more details about an emergency contact information. These are components of safety procedure.

Driving

Of the precautions we have adopted in our policies is to ask our clients to drive separately in their cars when it comes to taking a tour of the homes. After all once the tour is finished clients or realtors may have some commitments that they have to attend to.

Touring Homes

Don’t be surprised if your realtor walks behind you while touring the homes. This routine habit is not only a safety precaution; it allows you to see the rooms first and get better views of spaces. Also, your realtor may decline to accompany you into basements, closets, or attics, but you should feel free to have a look around.

Vacant Properties

The best time to tour properties will be during the day time specially when the hooue is vacant. You may not see the defects that exist in the house, fore example you may walk in upstairs there could be loose step and you fall. So that’s not safe for realtor and the client.

Neighborhoods

If you ask your realtor about the safety of a neighborhood, please remember fair housing laws doesn’t let real estate professionals to act in any behavior that can be viewed as steering people toward or away certain areas. Instead your realtor can provide resources that you can use and see where you’ll feel comfortable.

Do I Need a Home Warranty for My Houston Rental? Advice from a Property Management Expert

By | Property Management | No Comments

For many people, purchasing a home warranty for the house they live in makes a lot of financial sense. The protection that’s provided is worth the investment you make. However, when it comes to your rental property, there are different considerations that need your attention when it comes to deciding whether or not you need a warranty.

Each home warranty company is different, and they all have their own procedures and requirements. If you decide that you want a warranty, talk to a property manager or a Realtor so you can get a referral to a reputable company.

Your decision to purchase a home warranty really depends on your ability to respond to maintenance issues at the property. If you have a good network of contractors and vendors who are reliable and provide excellent work for affordable prices, a home warranty may not help you much. Some warranty companies will not be as fast as your own vendors when it comes to fixing a problem. That can be difficult for your tenants, who will want the problem taken care of as soon as possible.

Many professional property managers advise their clients to avoid home warranties. We prefer trained maintenance professionals who can get to the property right away and handle the problem quickly and Do I Need a Home Warranty for My Houston Rental? Advice from a Property Management Expertefficiently. Not all home warranty companies understand the urgency of a maintenance situation, and they will schedule the work several days or even weeks after it could be completed. There’s also the problem of the vendors they use. Many warranty companies have a specific list of contractors that do the work, and your favorite contractors may not be on the list. That means you’ll be getting someone you’ve never worked with before; someone who doesn’t know your property.

If you would like to talk about the pros and cons of purchasing a home warranty for your rental home, please contact us at Your Dream Real Estate. We’d be happy to share more information.

Dealing with HOA Violations – Houston Landlord Advice

By | Property Management | No Comments

When you own a property that happens to be part of a Homeowner’s Association or an HOA, there are a few extra things you often have to do as a landlord or a property manager. Not only do you need to make sure your tenant pays attention to your own rules and regulations, you also have to make sure your tenant understands the requirements of the HOA.

Lease Information

Your lease agreement needs to address and include everything that’s required and prohibited by the HOA. In most cases, tenants violate rules simply because they don’t know them. When you are able to provide all the rules and regulations of the HOA, the tenant will know what is expected. Be clear about what the violations might include and make sure your lease states how any violations will be handled.

Communication

Communicating with both the HOA and the tenants is critical. You’ll want to hear both sides whenever there’s a dispute, and find out if a mistake has been made or if your tenant really is in violation of something. Don’t jump to any conclusions and make sure you maintain a positive, respectful attitude when you’re dealing with all parties.

Stay Involved

It will help if you aren’t a stranger to your HOA. Make sure you know who is on the board, and even though you aren’t living at the property yourself, you still want to keep yourself in the loop. Follow any updates and communications put out by the HOA and make it a habit to read the board meeting minutes. If you don’t have Dealing with HOA Violations Houston Landlord Advicetime to stay on top of these things, work with a property manager who can handle the relationship on your behalf.

The relationship between you, your tenant and your HOA does not have to be combative. Make sure everyone understands what is expected, and you won’t have many problems.

If you have any questions about HOA violations, contact us at Your Dream Real Estate.