On A Positive Note - 01/10/2022

Jan 10, 2022

While there is much to worry about these days such as the economy and inflation, homeownership in the state of Texas is a definite bright spot for many.

 

Property owners in Killeen have seen an average rent increase of 29.5% since March 2020 whereas most major cities in the nation averaged 20% according to a study by Apartmentlist.com.

 

Up to November this year, our property owners were enjoying near 100% occupancy levels. The holidays have brought about a slight seasonal slowing of the rental market, but demand continues to outpace supply and we anticipate continued high occupancy rates into the new year with some cooling of rental rate increases.

 

Investing in real estate continues to be an excellent hedge against inflation. People always need a place to live, which makes owning real estate a great commodity in which to invest. Although real estate values have been on the rise, mortgage interest rates continue to remain near historic lows, so purchasing now while financing is still cheap is a smart move. The cost of gas, groceries, lumber, and many other consumer goods are on the rise and are beyond our control as the dollar continues to lose value. The 29.5% increase in rental rates we’ve seen since March 2020 have blessed investors with excellent rates of return on their investment properties while their properties have been appreciating dramatically in value. According to a recent study by Black Night, homeowners in the U.S. have seen their home equity rise an average of 32% since the third quarter of 2020. In addition to increased rental income and growing equity, rental properties provide valuable tax deductions. 

 

On the economic front, the Texas Workforce Commission recently reported that Texas has recovered all jobs lost due to the pandemic after adding 75,100 nonfarm jobs in November, reaching nearly 13 million jobs.

 

Texas currently has the cheapest average gas prices in the nation according to AAA. The average price per gallon in Killeen is $2.88.

 

A recent study by WalletHub lists Texas as the best state to start a business.

 

Fun fact – While Texas is among only seven states with no state income tax, did you know that the Texas Constitution was amended in 2019 to forbid personal income tax? 

 

“Happiness depends upon ourselves.”  --Aristotle


David Gerke,
Broker / REALTOR®

By Julie Martinez 03 May, 2024
Ensuring safe living conditions for tenants in rental properties is crucial. Property owners are responsible for maintaining the structural integrity of the property, conducting regular inspections, and promptly addressing any safety concerns raised by tenants. Listed below are some safety-related tips for property owners: Fire Safety Measures Fire safety is of utmost importance in rental properties. Property owners should take preventive measures including creation of protocols to follow in case of a fire outbreak. The rental units should be equipped with properly functioning smoke detectors and carbon monoxide alarms. Rental property can be equipped with fire extinguishers, and tenants can be educated and provided a written set of fire safety protocols to promote a safe living environment. Secure Entry Points Another essential aspect of tenant safety is securing entry points to the rental property. High-quality locks should be installed on all entry doors and windows to prevent unauthorized access and protect tenant privacy. Additionally, security cameras or motion sensor lighting can be used to enhance the property's security. Adequate Lighting Adequate lighting in common areas, stairwells, and parking lots is essential for tenant safety and security. Sufficient lighting in these areas minimizes the risk of accidents and prevents criminal activity. Installing motion sensor lights can be an effective way to promote energy efficiency and enhance convenience. Clear Emergency Exits Ensuring tenant safety requires clear and unobstructed emergency exits for swift evacuation during emergencies. Property owners must diligently maintain these exits, keeping them free from clutter or obstruction. Regular Maintenance Inspections To ensure a safe living environment for tenants, property owners should conduct regular maintenance inspections. These inspections should cover different aspects of the property, such as electrical systems, plumbing fixtures, and structural elements. By quickly addressing maintenance issues like faulty wiring, plumbing leaks, or structural weaknesses; property owners can reduce the risk of accidents and ensure that the property remains in good condition. Tenant Screening Process Implementing a thorough tenant screening process is essential for establishing a secure and harmonious rental community. This involves verifying references, conducting background checks, and assessing the suitability of potential tenants for the rental property. Disaster Preparedness Plan Property owners should outline procedures for various emergency scenarios, including natural disasters like earthquakes or hurricanes Providing tenants with emergency contact information and resources will promote preparedness for unforeseen circumstances, contributing to a secure living environment. Prioritizing safety not only safeguards the property owner's investment but also builds trust and satisfaction among tenants, ultimately contributing to a positive rental experience for all parties involved. To know more, visit Hunter Rentals & Sales at 1503 W Stan Schlueter Loop, Killeen, TX 76549, United States, or call (254) 634-3311. You can also browse at www.hunterrentals.com and connect on Facebook or Instagram for latest updates.
By Julie Martinez 03 May, 2024
By Julie Martinez 03 May, 2024
Summer presents an ideal opportunity for property owners to enhance the appearance of their rental property. Maintaining an appealing outdoor space not only enhances aesthetics of a property but also adds value and curb appeal. It is essential to adopt landscaping practices that not only beautify but also thrive in the local environment. Ideas to make your property appealing to renters. Well-Manicured Lawn To achieve a well-manicured lawn, regular mowing and edging are paramount. Keep grass at an optimal height of around 2.5 to 3 inches, as this encourages healthy root growth and shades out weeds. Edging along sidewalks and driveways provides a clean, polished look, enhancing the overall appearance of the property. Native and Drought-Resistant Plants Incorporating native plants and drought-resistant species into landscaping not only supports local ecosystems but also reduces water usage and maintenance efforts. Invest in plant species that are well-suited to local climate and thrive with minimal water and care. Vibrant Flowers for Color Introduce pops of color to your landscape with vibrant flowers like black-eyed Susans, Lantanas or Texas Sage. These native plants are great for adding vibrancy to the rental property. Natural Pathways and Garden Beds Enhance the aesthetic appeal of the property by integrating natural elements such as gravel or stone for pathways and wooden garden beds. These features help in providing practical delineation and guiding visitors through the outdoor space while maintaining a cohesive aesthetic. Outdoor Lighting Enhance the outdoor ambiance by illuminating pathways and showcasing landscaping features with outdoor lighting. Strategically placed lights enhance visibility and safety while also creating a tranquil setting during the evening. Inviting Outdoor Living Spaces Create inviting outdoor living areas with comfortable seating and shade options such as umbrellas or pergolas. These areas extend the indoor living spaces, offering opportunities for leisure and socializing amidst the natural surroundings. Hiring Landscapers A skilled landscaper has the knowledge and equipment necessary to maintain outdoor spaces on the property efficiently and professionally. They can assist with regular upkeep of the outdoor areas. By implementing these landscaping practices, one can create an outdoor space that is both visually appealing and sustainable. It's advisable to consult with a property manager for advice on enhancing design elements for the outdoor space. A property manager can provide valuable insights and tailored recommendations to meet specific needs, ensuring optimal curb appeal and long-term landscape success. Additionally, property managers have access to landscapers and contractors who can perform regular maintenance of the outdoor areas. Property managers can help with managing a rental property, including tenant selection, rent collection, and maintenance. For more information, visit Hunter Rentals & Sales, located at 1503 W Stan Schlueter Loop, Killeen, TX 76549, United States, or call (254) 634-3311. You can also browse at www.hunterrentals.com and connect on Facebook or Instagram for the latest updates.
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