Houston Landlords: 7 Estate-Planning Mistakes That Can Create a Family Crisis
Owning rental property makes estate planning significantly more complex than planning for a primary residence or a standard investment account. A comprehensive plan must account for more than just a passing of assets—it must handle tenants, active mortgages, liability insurance, business entities, property management, multi-beneficiary dynamics, and unexpected owner incapacity. For Houston-area rental-property owners, a […]
Inherited a House? Use This 90-Day Keep, Sell, Rent, or Share Decision Framework
If you’ve inherited a house, it can feel like receiving a valuable gift, but it can also create immediate financial pressure. Mortgage payments, property taxes, insurance, repairs, family disagreements, and legal paperwork don’t pause while you decide what to do with the property. The first 90 days should not be about rushing into a sale. […]
Negotiating Your Rental Agreement: Tips for Saving Money
When searching for a new home, you’ve probably come across some great places just slightly out of your budget. If this is the case, and you really want the place, you could try negotiating your rental agreement to get precisely what you want. Many landlords will be open to adjusting rent in exchange for other […]
Here’s How to Report Rent Payments to the Credit Bureaus
Q: I carried a mortgage on a property I rented out and would like to report rent payments to the credit reporting agency. How can I do this? A: Great question. If you’re a landlord seeking to report rent payments to credit bureaus, you’ll need to follow a formal process to become what’s known as […]
Will Lenders Approve a Home Equity Loan on a Rental Property?
Before the market downturn, banks would readily extend loans and lines of credit on rental real estate. Lenders typically stipulated that those properties could have no more than an 80% loan-to-value ratio. In the current market and amid the credit crunch, however, it’s very difficult (if not impossible) to find such a lender for three […]