OWNERS NEWSLETTER - MAY 2020

                                            

                                            

OWNERS NEWSLETTER – MAY 2020

MARKET UPDATE – Demand for rental housing continues to be extremely strong. As I write this newsletter, we have zero single-family homes available, no duplexes available, and only one available townhome and apartment respectively. We rented thirty properties last month, consisting of twenty-one single-family homes and nine apartments. We ended the month of April with 99% of our properties occupied. Rents on many properties are increasing as they become available or upon renewal due to the strong demand and limited supply. It’s worth noting that Fort Hood, which is Texas’ largest single site employer, has approximately 5,800 soldiers deployed currently. 

RENT COLLECTIONS – We were successful in collecting 100% of all rents due for the month of May without having to deliver one late notice. This is significant in many respects, but most importantly because the CARES Act has placed a moratorium on non-payment of rent eviction lawsuits through July 25, 2020. We do have some residents that have been impacted by reduced hours at work or that have lost their jobs due to the COVID virus, but our leasing staff has done an excellent job communicating and working with these families and individuals in order to achieve rent payments in full from all. 

TAX APPRAISALS – Property owners in our area are again seeing a sharp increase in the tax valuation of their properties for 2020. Property values are on the rise, which means most of us will be paying more when property taxes become due. The good news for most rental property owners is that rents are also on the rise, which will help offset the higher tax bills. To view your property’s current and past tax valuations, tax rate, and to verify that the county’s information is accurate, go to www.bellcad.org for properties located in Bell County or www.coryellcad.org for properties located in Coryell County. 

A/C CHECKS AND SERVICING – Beginning next month, we will resume our annual servicing of air conditioning units for those owners that have requested this preventative maintenance. The service includes checking the wiring, housing, and fan relay of the inside unit. The fan motor, housing, blower wheels, air filter, thermostat, plenum, attic ducts, evaporator coils, and drain lines are also checked. The outside unit coils, wiring, fan motor, blades, Freon level, and pressure are checked as well. The cost of this service is $65.00 plus tax and does not include parts should a repair be necessary. If you wish to have your property added to our list, please e-mail our maintenance department at repairs@HunterRentals.com. 

David Gerke

Broker