Skip to content Sitemap


R-22 Refrigerant No Longer For Use in New A/C Systems

New laws are changing in how R-22 refrigerant can be installed in A/C systems. Starting January 1 2010, R-22 refrigerant will not be allowed for use in new a/c systems. Only existing units can be charged with R-22 refrigerant.

If an existing coil needs to be replaced, you will be required to upgrade to a R410A system. In some situations, you may have to replace both the coil and condensing unit because a condensing unit with R-22 refrigerant may not work with the new R410A system. This basically doubles the repair costs for replacing a coil system. In some circumstances, a conversion kit can be installed.

A/C repairs in general have increased the past few years. Many older homes and multi-family units have less efficient a/c systems with a SEER rating of 10 or less. SEER stands for “Seasonal Energy Efficiency Ratio” and is a measure of the energy efficiency of the air conditioning unit. Units with a 12 SEER rating or below are no longer manufactured. Hence, instead of replacing a 10 SEER a/c condensing unit for $800, it now costs a minimum of $1,200-$1,300 to replace with a new 13 SEER unit. The cost is higher for larger units. The costs of replacing a more efficient coil, furnace, air handler, condensing unit, and replacement parts have increased about 40% to meet new energy efficient requirements.

In the past, if a compressor failed, we usually replaced the condensing unit instead of just replacing the compressor. Installing a new condensing unit provided the owner a brand new warranty and only cost a few hundred more dollars. However, it may be more cost effective with the new R-22 refrigerant law to replace the compressor and keep the existing condensing unit. This will allow owners to keep the existing coil and use the same R-22 refrigerant.

It may be advantageous for some homeowners to completely upgrade their a/c system if unit fails. The City of Austin offers generous rebates to owners who upgrade their entire a/c systems. Properties outside the Austin city limits do not offer the same rebates. Pedernales Electric Coop does offer incentives; however, the amounts are much lower than what is offered by the City of Austin.
If you have any questions, feel free to call our office at 512-257-9836.

Filing A Writ of Possession

In a recent article, I discussed when and how to file an eviction. The purpose of an eviction is to get legal possession of the property. When you are filing an eviction for non-payment of rent, the judge will award a judgment to the plaintiff/landlord for the amount of rents owed in arrears. Late fees, HOA fees, and utility costs cannot be included in an eviction judgment. Once the judge issues a judgment, the tenant has five days to appeal the judgment and or vacate the proeprty. If the tenant does not file an appeal within five days and fails to vacate the property, the landlord may file a writ of possession.trash_inside

Most of the time tenants will vacate the property, and you don’t have to file a writ of possession. If the tenants do not vacate the property in five days, you must file the writ and pay an additional fee at the same county courthouse you filed the eviction. At that time, a constable will place a final notice on the front door of property advising the tenants to fully vacate the property by a specific day. The constable will then call landlord to setup a day and time to physically remove all personal property from residence and place at the curb. We call a locksmith to change locks and have a crew ready to remove items from property when we meet constable at specified day and time. After 24 hours, personal property not removed from curb must be removed and disposed of.

Filing an eviction is a lose lose scenario for both the tenants and landlord. It is always best work out a payment plan. However, it is never too late to stop an eviction or a writ. For the first time, we filed two writ of possessions in the month of December, two weeks before Christmas. The tenants called and pleaded to allow them to stay. We insisted the tenants pay all late fees, eviction filing fee, writ of possession filing fee, and we would cancel the writ.
The current lease terminates when an eviction judgment is awarded t
o plaintiff/landlord. So, if a tenant works out a last minute payment plan and remains in the property, the landlord must create a new lease. All terms of the new lease are negotiable. Our office can process rents by credit card, check, money order, check by phone, and bank draft. Our credit card machine is happy to take payments from family members coming to the aid of tenants in dire need of help. Since the previous lease was terminated, we required the family member to pay all fees and even added additional security deposit to be applied to the new lease. Credit payment went through, and we will be drafting a new lease and apply the funds towards increased security deposit.

In summary, it is never too late to workout payment plans for tenants who have the ability to pay their rent. It is rare that a tenant comes through this late in the game. Now, the landlord has received all past due rents and has additional security deposit funds to offset risk of a future breach of lease.
Had we not had the ability to accept credit cards, the tenant may have run out of options and been on the street and the landlord would have a vacant property and no rent proceeds.

If you have any questions about the eviction process or filing a writ of possession, feel free to call us at 512-257-9836

Gift Rules for Home Buyers Obtaining a Mortgage

Many buyers inquire about the rules for getting gifts or assistance or seller concessions when qualifying for a mortgage. There are three types of mortgages: 1)conventional mortgages; 2)FHA mortgages which are insured by federal government and 3)VA mortgages which are guaranteed by federal government.

The down payment requirements are different for each mortgage. Buyers must put a minimum 3.5% down for an FHA loan and 5% down for a conventional mortgage. Veterans who qualify for a VA loan can finance 100% of the sales price and are not required to put money down. All three types of mortgages permit the seller to pay a portion of buyer’s closing costs and prepaid expenses ranging from 3% to 6% of the sales price. Borrowers must have the down payment in bank at time of application.

An FHA mortgage permits borrowers to receive a gift for all or part of the 3.5% down payment. The gift must be documented in writing, and the lender may require proof of deposit and copy of cancelled check. The letter must state the proceeds are a gift for the subject property and gift funds are not required to be paid back. If a borrower can obtain a gift letter for down payment, it is possible to purchase a home with little to no money down. The seller can pay up to 6% of the sales price and apply the concession towards buyer’s closing costs and prepaid expenses.

Gift rules are different for a conventional loan. A borrower must put their own 5% down, and the down payment must be immediately available in a bank account or asset account. A borrower can receive a gift from a family member. However, the gift proceeds can only be used as additional down payment or to pay closing costs and pre-paid expenses. The borrower’s 5% down payment (not gift) should be seasoned in a bank account for at least two months.

A borrower may also request the seller to pay a portion of their closing costs and prepaid expenses. For borrowers putting 5% down and obtaining a 95LTV (loan to value) mortgage, the seller can pay up to 3% of sales price and apply towards buyer’s closing costs. The allowable seller concession increases to 6% of the sales price if borrower puts at least 10% down.

Unlike an FHA or VA mortgage, borrowers must also have 3-6 months reserves available after paying down payment, closing costs, and prepaid expenses to qualify for a conventional mortgage. For example, if the mortgage payment is $1,500 per month, the borrower must have a minimum of $4,500 available in cash reserves. Lenders will allow a borrower to use a retirement account or 401K for reserves when obtaining a single mortgage (lien 1- not two liens). However, they will only count about 60%-70% of the vested retirement balance.

If you have any questions about the mortgage or home buying process, please call us at 512-257-9836. We have a team of experts ready to assist you.

How And When To File An Eviction In Austin, TX

Texas is a very landlord friendly state. Unlike other states, we can usually evict a tenant within 3-4 weeks from the filing date. This article will discuss how and when you should file an eviction in Texas. This article is not intended to provide legal advice. It simply outlines the processes for filing an eviction. If you have any questions, please contact an attorney.

In Texas, there is no defense for non-payment of rent. I have never been in a case or heard a case where a tenant provided a legal reason for non- payment of rent. The plaintiff must sign a military affidavit confirming to our knowledge the tenant(s) were not in the military and on leave. Other than that, a judge will always rule in favor of the landlord plaintiff as long as paperwork is filed properly.

Our office only evicts a tenant in a worst case scenario. It really is a lose lose situation both for landlord and tenant. It is always best to try and work out a payment plan if possible. Even if tenant pays late every month, it makes more business sense to keep a paying tenant than evict a tenant and have to turn the property. As long as tenants do not go a month in arrears, it may be more cost effective to have tenant stay in property and simply not renew the lease.
The first thing a landlord must do is mail or post a demand notice for tenant to vacate the property within a specific number of days specified in the lease agreement. Most property managers in Texas use a promulgated TAR form (Texas Association of Realtors). The TAR agreement provides a demand notice of three days for tenants to vacate the property. Many apartments use a TAA form which I think only requires one day. It is not necessary to hand deliver or send notice by certified mail. We usually just mail our eviction notices. Sometimes we will post notice on the door, but this is not required. We must allow three days (as specified in TAR lease) plus an additional 2-3 days if notice is mailed. If you hand deliver, it is best to post the notice on the inside of the front door. Make sure to include date on the letter.
If tenant does not respond within three days of receiving the notice (or number of days specified in your lease agreement) or surrender property, you may file the eviction with the county courthouse. You must determine what county your property is in and what precinct. There are four precincts in Williamson County and five precincts in Travis County. You must make sure you are filing in the property precinct. For example, many properties in Round Rock are filed at the precinct court in Taylor, TX instead of the precinct in Round Rock. Below is a url address for map of Travis/Williamson County precincts and contact info:

Most precincts can check the address over the phone if you call them. We recommend you have the constable serve all adults listed on the lease. There is a court fee and a service fee for each tenant you list and have served on the eviction. Once the eviction is filed, the constable will serve the tenant(s) within a few business days. We recommend not visiting the property until the tenant has been served. If the tenant makes a payment after being served by constable, only accept certified funds and place money order in folder and bring to court. The judge may lower the judgment by the amount paid. We do not recommend you deposit the funds unless all rents and fees are paid in full.

Once tenant is served, a court date is usually set within 2-3 weeks. Each precinct has a different communication process. Some mail a notice and others require you to call and inquire about the court date. The purpose of the eviction is to get legal possession of the property. You may request a judgment for all past due rents. The judge will not allow late fees or any other fees to be added to judgment, only rents. Tenants many times will not even show up to court. They know there is no legal reason for non-payment of rent. If they don’t pay, they can’t stay in home.

Once the judge awards the judgment, the tenant has five days to appeal the eviction judgment. They must pay a bond equal to two times the judgment to appeal the eviction judgment. If no appeal is filed within five days, and the tenant has not surrendered the property and is still occupying the property, you may file for a writ of possession. This is an additional fee. One final notice is posted for tenants to vacate, and if they don’t vacate the property, you will meet the constable to peacefully remove personal belongings and place by curb. You will need to have a crew ready to remove personal belongings and a locksmith to change locks. If personal items are not removed within 24-48 hours, you must arrange to remove and dispose of items.

In summary, filing an eviction is usually a lose lose scenario for both parties. It is much better to try and work out a payment plan, even if it takes months for tenant to get current. This of course assumes the tenants have the ability to pay rent. If no funds are coming in, you have little choice but to file the eviction and get legal possession of the property. For tenants not willing to work out a payment plan, you most likely will not receive any rents once you file the eviction. At best, your court date will be set the following month resulting in two months of lost rent plus another 30-60 days to lease the property. Add make ready, repair costs, and leasing fees, and this can add up to thousands of dollars.

Our office processes rents by credit card, check or money order, check by phone, and/or bank draft of tenant’s/ family member’s bank account(s). Offering a wide range of payment collection methods can sometimes really help in collecting rents. Family member may not have cash, but many can use credit card to help family member. If you have any questions or need a sample vacate notice, please call our office at 512-257-9836.

Debt Ratio And Fico Requirements For Conventional Mortgages

It is becoming harder and harder to qualify for a mortgage these days. It is bad enough lenders do not allow state income mortgages anymore, and most will not allow a borrower to have more than four mortgages. Starting this month, most lenders are now requiring a borrower’s total debt ratios to be less than 45%, and the minimum fico score must be 740 to get the best interest rate for a conventional mortgage. What does this all mean for home buyers?

If a borrower’s gross income is $60,000 per year, or $5,000 per month, the total monthly debt including mortgage payment must not exceed 45% of $5,000 monthly income, or $2,025 per month. If the mortgage payment is $1,200 for the subject property, the borrower must not have more than $825 in other monthly debt payments. Monthly debt considers car payments, student loans, and minimum payments on all revolving debt. For borrowers who can only put 5% or 10% down, some lenders are requiring the debt ratios to be less than 41% for conventional loans. In the past, a borrower with good credit score could get a mortgage with a debt ratio up to 50% or more. That is no longer the case. This makes it especially hard for first time borrowers, self employed applicants, and owners with multiple mortgages.

Lenders are also requiring higher fico scores. To get the best interest rate today, a borrower must have a minimum fico score of 740. Lenders are increasing the mortgage rates for borrowers with lower fico scores. The lower the fico score, the higher the mortgage rate. For example, a borrower with a 679 fico score may pay a .5% higher rate than a borrower with a 740 score. One of our lenders requires a 740 fico if you put less than 20% down. So, if you can only put 5% or 10% down, they won’t do the loan.

It is also getting harder and harder to get mortgage insurance. It is no longer a guarantee to obtain mortgage insurance for a 95LTV scenario (5% down). Mortgage insurance companies no longer offer mortgage insurance for investment properties, and they are approving MI on a case by case scenario for 95LTV mortgages.

Some lenders still offer second liens. Most require borrowers to put 10% down for an 80-10-10 mortgage (first lien- 80LTV, 10% down, second lien 10%) and require a minimum fico score of 700. It is even harder for first time buyers. Most conventional mortgages require a buyer to have their own 5% down payment seasoned in the bank plus 3-6 months reserves. A 401K or retirement account can be used as reserves for the first lien. However, most second lien mortgage companies require six months of liquid reserves for first time buyers and only offer second liens for borrowers putting 10% down.

For example, if you are purchasing a $200,000 home, are first time buyer, putting 10% down, and obtaining an 80-10-10 mortgage, you must have $20,000 in the bank for cash down payment plus closing costs and at least three months mortgage reserves. If mortgage payment (PI for lien one and two plus property taxes and hazard insurance) is $1,600 per month, closing costs are $5,000, borrower must have a total of $34,600 in liquid accounts.

See below for details:

10% down payment: $20,000
6 mo reserves (3 x $1,600): $4,800
Estimate closing costs: $5,000
Total Estimate Funds to Close: $29,480

If you have any questions about qualifying for a mortgage or need assistance in purchasing or selling a home, please call us at 512-257-9836. We offer aggressive interest rates and can help investors, sellers, or first time buyers.

Tax loophole for Property Managers and Realtors who own rental property

One of the greatest tax deductions offered to landlords is depreciation expense. The IRS allows landlords to depreciate the improvement of a rental property (single family residence) over 27.5 years. So, if you purchase a rental property for $125,000 and the land is worth $25,000, you can deduct the $100,000 improvement ($125,000 – $25,000 = $100,000) over 27.5 years, or $3,636.36 per year.

Depreciation is an invisible expense. The depreciation expense is added to yearly property taxes, mortgage interest, insurance, property management fees, and repairs. Below is a year 1 sample mortgage analysis with purchase price of $125,000 and financing $100,000 at 7% with a 30 year note:

Principle payment $84
Interest payment $581
Property Taxes $250
Insurance $50
Management fee $50
Total Payment $1,015

Assuming a monthly rent of $1,000, you can deduct all above expenses except the $84 principle payment. Your total monthly deductions are $931 ($1,015 – $84 = $931). This calculates to a monthly gain of $69, or yearly gain of $828. Now apply yearly depreciation of $3,636, and your property shows a yearly loss of $2,808. Depreciation is a very powerful tool. If you owned eight properties with this scenario, you could deduct $22,464 against ordinary income. The IRS allows landlords to write off up to $25,000 in rental property losses against ordinary income.
Most investors who are high wage earners are not able to take advantage of rental property losses. The IRS limits the amount of losses you can deduct against ordinary income once your adjusted gross income (AGI) exceeds $100,000. AGI includes self employment income, W2 wages, interest, dividends, capital gains, and rental income. The IRS totals income for AGI before any Schedule A deductions or exemptions are considered. Once your AGI exceeds $100,000, the IRS multiplies the overage amount by 50% and reduces your loss by that amount. For example, if your AGI is $110,000 and you have a passive loss of $5,000, you are not able to write off any losses against ordinary income ($10,000 x 50% = $5,000). Instead, you can only carry over the loss. With an AGI of $150,000, all deductions are phased out.

If you are a licensed real estate agent, charge a management fee, and use the rental property you own to generate business income, you can apply the yearly depreciation expense against your Schedule C business return instead of Schedule E. Moving the depreciation to your Schedule C allows you to fully take advantage of your depreciation expense. The depreciation usually makes the property show a loss on your schedule E. When the depreciation expense is used as a business expense, the property most likely will show a profit on Schedule E instead of a loss. This loophole allows you to bypass the IRS AGI calculation and fully take advantage of the depreciation expense. Please check with your CPA for details.

Taking advantage of depreciation and acquiring more rental property can drastically reduce your tax liability. The longer you own the property, the more profitable it becomes. Rents usually increase yearly in a good market. In a standard amortization schedule, the principle payment increases and the interest expenses decreases slightly each year. The longer you keep the property, the more it will cash flow over time.

Once the property cash flows a couple hundred dollars per month, the depreciation expense makes the cash flow profit tax free. Take the tax free cash flow dollars and apply those funds to your Schedule A deductions for interest and property taxes on the home you live in. This is double dipping. You are taking tax free dollars and then using those funds to reduce ordinary income.

One final tip. Buy a property for each child when they are young. Rent the property out for 18 years. Once your child is ready for college, pull cash out with a line of credit or cash out refinance, and send your child to college for free. The interest is deductible; you pay no income taxes for the loan; and your tenant pays for the note and for your child’s college education. After you die, give the property to your children. The cost basis is the same as fair market value when they inherit the property. If they sell immediately, they pay no capital gains (assuming properties meet estate limits).

Selecting The Right Investment Property

Investors frequently inquire about the best type of investment property to purchase? I always respond and say, “it depends.” Every investor has different goals and should choose a property based on goals. Some investors will leverage rental property for monthly cash flow and tax benefits, while others purchase for future appreciation. This article will focus on properties that can produce positive cash flows, build wealth, provide lower cost of ownership, and reduce owner risk.

When analyzing a rental property, you must estimate market rent and mortgage payment. I know this sounds silly. You would be shocked how many times I get a call from an investor who has already closed on a home and never reviewed leasing data. He or she used a Realtor who promised a rent range without providing documentation. I can’t stress how important it is to use a professional who is experienced in leasing investment properties.

Assuming there are no defects with property (home not on busy street, in good neighborhood with good resale values, schools, etc.), and rent covers debt service and even cash flows, it is a probably a pretty good deal. It can be challenging to find a cash flowing property. However, investment property mortgage rates are now below 6%. Record low interest will help you find a property that produces positive cash flows. If you need help with a mortgage or an option on an investment property, call our office. We provide real estate sales, leasing, mortgage and property management services.

I frequently see investors use cost per sqft when analyzing a rental property. This may be a good metric in establishing a market value for a home for sale, assuming your sample data has an average square footage close to the subject property. However, it really is meaningless when purchasing an investment property.

We recently helped an out of town investor purchase his second investment property. He went online and selected about half a dozen listings and selected some foreclosure homes selling in the $150,000 range below $60/sqft. The investor was convinced we should start our focus on these properties.

We analyzed a 2,400 square foot foreclosure home built by a value builder listed at $155,000 in Leander. We ran numbers to determine the mortgage payment and market rent. Property tax rates in the Cedar Park/Leander/Round Rock/Austin areas range from 2% – 3.4%. Some neighborhoods are in a MUD district and have higher tax rates. The county tax assessor will not lower the tax assessed value for a foreclosure property to what the buyer paid, because it is not considered an arms-length transaction. You must use the current full tax assessed value to determine the mortgage payment. We estimated the mortgage payment on this home with an 80 LTV (loan to value) mortgage was about $1,120 per month, and market rent was $1,050 per month.

The investor was certain this was a great deal, and it turned out to be a negative cash flow scenario. What he failed to realize is rents do not increase much as square footage increases. We searched MLS and found a small 1,200 square foot home with an asking price of $125,000 in Round Rock. The property tax rate in Round Rock is a little lower than Cedar Park. We ran numbers and determined mortgage payment was slightly less than $900 with an 80 LTV mortgage, and fair market rent was $995 per month. We negotiated a contract for $122,900, and leased the home for $995 before he even closed. This home sold for over $100/sqft, and investor paid just below market value. However, the property produced a $100 positive cash flow.

Many investors overlook the costs of repairs and maintenance when purchasing investment property. In a worst case scenario, investors may have to replace carpet and paint interior walls of home when getting property ready for lease. It costs about $1.50/sqft to replace carpet and $.75/sqft to paint interior walls plus materials costs. These are just rough estimates.

We usually collect a security deposit equal to one month’s rent. For the small 1,200 square foot home with 300 square feet of sheet vinyl and or tile and only 900 square feet of carpet, it will cost about $1,200 to replace carpet and $1,000 to paint interior walls. For the larger 2,400 square foot home, it would cost about $2,500 to replace carpet and $1,800 to paint interior walls. Yet, the larger home only brought in $50 more in monthly rent. The $995 security deposit of the smaller home would covers 45% of the overall damages, and investor is out of pocket $1,200. The $1,050 security deposit for the larger home would covers only 24% of the damages, and investor is out of pocket $3,250.

As rents increase, the pool of qualified tenants shrinks. There are fewer tenants searching for a $2,000 per month property than a $1,200 per month property. In a bad economy like the one we are now experiencing, higher priced rental properties can drop hundreds of dollars in monthly rent. I am not worried about a $995 monthly rent for a small single family residence dropping $200 per month. More expensive homes can depreciate significantly in a down market, while less expensive homes are more resilient to price depreciation and rent drops in a recession.

In our market, a $350,000 suburb home may bring in $2,000 in monthly rent; a $250,000 home may bring in $1,600 in monthly rent; and a $150,000 may bring in $1,100 in monthly rent. Our smaller $122,900 home purchased a year ago now brings $1,050 in monthly rent.

Investors must consider their goals in purchasing an investment property. If an investor wants to minimize risk, lower maintenance costs, cover debt service, and have positive cash flow, he or she should consider purchasing a smaller home at a lower price point. A smaller home may not appreciate as much as a larger, more expensive home. However, a smaller rental property with a lower price point is a bullet proof investment and easy to rent or sell in any economic cycle

Understanding Credit Reports and FICO Scores

Using a minimum FICO score is a sound practice when evaluating an application and determining the risk of the tenant’s ability to pay rent in a timely manner. However, it is important to understand how a FICO score is calculated. Many owners and landlords make poor conditions in denying a rental application without understanding how a credit reports are scored.

A credit report is only one consideration for analyzing a renal application. FICO scores range from 400 to 850 and consider payment history, amounts owed on active trade lines (percent of credit being used), length of credit history, establishment of new credit, and type of credit. An applicant’s fico score will drop if he or she has a recent slow payment, collection, bankruptcy, multiple inquiries, judgment, or fully utilizes current trade lines (maxes out credit line). It is best to keep outstanding balances below 50% of your available credit.

We process many applications with low FICO scores. We frequently see credit reports with medical collections and no active credit lines. In these scenarios, a low FICO score is are a poor measurement in determining the tenant’s ability to pay rent. You must have active trade lines with recent payment activity to increase your credit score, and many tenants cannot afford or do not have health insurance. Strong employment and good rental history are much better metrics in analyzing the risks for a prospective tenant.

Was there a loss of employment two years ago, and the tenant has been employed for a year now and paid his/her bills on time the past year and has good rental history? What about a divorce situation? We see applicants with perfect credit for years until a divorce. During the divorce process, one spouse drove up credit card balances; mortgage was not paid; spouse failed to pay credit cards in a timely manner; and other spouse’s credit score dropped 100 points because all credit was held jointly with spouse.

Foreclosures are at an all time high in Austin. Did prospective tenant have a recent foreclosure? Applicant may have paid their rent on time for years as a tenant and purchased first home with a subprime mortgage with a two year balloon. The applicant’s mortgage payment increased, he or she has no equity in property, has a low fico score and cannot refinance the home. The adjustable rate mortgage increases $300 hundred per month and home goes into foreclosure.

What about a married couple, where a non working spouse has terrible credit and the husband had good credit? The husband is the bread winner and is financially responsible for paying rent. Does it really make sense to consider the credit score of the non income spouse? These scenarios need careful consideration.

Sometimes, we will process a rental application with a high fico score. Landlords usually celebrate. However, most high FICO score tenants usually buy a home in 1-2 years and rarely rent long term. High FICO score tenants can actually be less profitable and cost landlords more money from increased turnover and leasing expenses. The most profitable tenants have stable jobs, work hard to provide a home for their family, have little savings and a low FICO score. This profile tenant cannot afford to purchase a home and will rent for many years. I have several tenants in properties I personally own who have resided in the same home more than five years. Sometimes the tenants are late in paying rent if they have an unforeseen car problem or medical illness, but we always work out a payment plan.

Instead of denying an application based on FICO score alone, we may increase the security deposit for an applicant with a poor credit score. This assumes the applicant has no collections from landlords and good rental history. A double security deposit helps offset the risk of past credit problems.

Take the time to analyze the credit report and consider asking for a larger security deposit in lieu of denying the application. This can help avoid a vacancy. A monthly vacancy for a $1,200 rental property costs the owner the same as a tenant who did $1,200 of damage to the property. However, a double security deposit will help pay for damages. A landlord can’t recover lost rents due to a vacancy.

Feel free to call our office if you have any questions. We provide property management and leasing only services. We are also experts in helping investors purchase a rental property, find a tenant, and manage the property. Don’t purchase an investment property without using the services of a professional property manager and investor.

« Previous Page