Houston rents are surging — despite the plunge in oil prices
The article also has a nationwide list of the 10 hottest rental markets and the 10 coolest rental markets.
For some reason people tend to forget that there is more to Houston than oil.
One analyst I spoke to said that oil companies are using the low prices to axe upper management (70k+ incomes) and hire up more workers... so rent is up!
Rents may be surging, but so are property tax values, which is wiping out most gains if not all. Anyone that is a landlord in Houston needs to raise their rent in order to just stay even.
@Jerry Ta This is 100% true! One of my properties tax appraisal went up 20% front last year to this year. Time to fight it
Jerry Ta This is 100% true! One of my properties tax appraisal went up $20k front last year to this year. Time to fight it
Property Tax protest season is approaching. I protest my property taxes every year with moderate success. I use O'Connor & Associates www.poconnor.com/ . You can also protest your taxes without a commercial service if you have the time. There is a lot of "how to" articles on the Internet.
This post is somewhat timely being that I just reviewed my tax info the other day. I too experienced a $22k increase one of my properties which represents a 31% increase, which is absurd. Will definitely be protesting the increase on all properties.
This is why I love Bigger Pockets. I am experiencing the same thing and now I know what to do.
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!