Any landlords in Houston? Rent increase?

6 Replies

Just curious, but do we have any landlords in the Houston area? I have a property that I am currently assessing a rent increase, and I wanted some opinion from people in or around the area.

For those of you who are familiar with Houston, I have a 3/2.5 in the midtown area of Houston and this year alone, my assessed property value went up 11% after a protest. The real estate market is currently booming, and I need to increase rent but I'm not sure how much to increase it by.

I was thinking somewhere around the neighborhood of a 10% increase, but I was curious how much other landlords in this area increased their rent. Any advice would be helpful.

Thanks.

Not in that area, but generally speaking tenants will look at nearby properties being offered for rent to compare whether an increase justifies moving. So look up rental comps.

Hello I am a landlord in the Spring area. Can you do comparables via a realtor? Do you have access to the MLS for comparables?


Originally posted by @Ronnie Sparrow :
Hello I am a landlord in the Spring area. Can you do comparables via a realtor? Do you have access to the MLS for comparables?

Won't realtors usually charge for this service?

I'm new to the Houston area and have purchased 2 properties this past year so I'm also interested to see where rents go from here. Seems to me that across-the-board tax increases as we've seen this year should keep everyone on a level playing field and raise rents accordingly. But interested to hear what some of the other Houston landlords have experienced over the years as property taxes have increased.

I have 8 units in the Houston area including SFHs, apartments, and a condo. This year I have increased the SFHs and condo between 4% and 11% depending on the rent comps in the area. I don't expect I will be able to raise the apartments anytime soon. Before the lease expires, I search HAR.com, The Greensheet, and rentometer.com for comps. Between hazard and flood insurance and property tax increases, I feel I am just breaking even. Replacement of roofs, A/C units, and sewer line repairs have been pretty heavy recently so there is no positive "cash flow", but I am in for the long haul.

If you are in the midtown area you should be fine with a 10 to 15% increase. I have a duplex in third ward and had a 20% increase on my property taxes this year. So will be raising rent with about 12% in September when tenant contract is up for renewal.

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