“Nothing great was ever achieved without enthusiasm.”
-Ralph Waldo Emerson
OWNERS NEWSLETTER – SEPTEMBER 2019
MOST REVIEWED – Hunter Rentals & Sales is an accredited business with the Better Business Bureau (BBB). We are among 17,000 accredited businesses in an area that encompasses 105 counties and includes the cities of Austin, San Antonio, and Fort Worth. The BBB notified us that of these 17,000 accredited businesses, 802 of which are property management companies, our profile has been the most visited and reviewed in the past 12 months. This is quite amazing and due largely to so many of our clients and customers that have taken the time to post about their positive experience with us. A great big thank you to all of you that have reviewed us. If you haven’t had a chance to review us yet and would like to, the BBB link is https://goo.gl/ZC7GB4 Be sure to check your email right after you send it as you have to respond before they will actually post your comment through the BBB.
DEPLOYMENTS – Fort Hood has approximately 5,640 soldiers deployed abroad currently. An additional 3,500 soldiers with the 2nd Armored Brigade Combat Team, 1st Cavalry Division, will deploy to Europe around mid-month October in support of Atlantic Resolve. Fort Hood’s newest unit, the 3rd Security Force Assistance Brigade (SFAB), will be deploying to Afghanistan this coming winter. The SFAB is comprised of 820 officers and noncommissioned officers.
RENTAL TRAFFIC – Demand for rental housing continues to remain strong in spite of the thousands of soldiers that Fort Hood has deployed. We continue to enjoy 99% occupancy with single-family houses, duplexes, and apartments. Rents have also been on the increase this year due to healthy demand and limited supply. No changes to this trend are anticipated in the near term.
MORTGAGE RATES – Mortgage rates have been gradually coming down and are now back to the rates we last saw in November 2016. The thirty-year fixed rate mortgage averaged 3.55% in the last week of August compared to 4.51% a year ago. The rate for a thirty-year VA loan was 3.25% last month and 3.375% for a thirty-year FHA loan. These are awesome rates for anyone in the market to purchase or refinance an existing loan.
LATE FEES – The 2019 legislative session saw the passage of Senate Bill 1414 (Effective September 1, 2019), which prohibits the collection of late fees until any portion of the monthly rent remains unpaid for two full days after the original due date. Prior to September 1st, Chapter 92 of the Texas Property Code allowed collection of late fees after one day. This change will not impact our property owners. Our lease contracts have long required that monthly rent payments are due on the first of each month with no late fees assessed until the fourth of the month.