Experts educate newcomers about Houston’s rental market
Whether someone is interested in renting a home or an apartment, Houston offers many choices for newcomers.
While those choices might seem overwhelming for someone who is new to the city, Realtors can help newcomers become more knowledgeable about the local market.
Mary Fox, a Realtor with Berkshire Hathaway HomeServices Anderson Properties, said that her relocation clients don’t always realize the enormity of the Houston area until they get here. So, one of the first things she discusses with them is how the lease prices can vary quite dramatically from one area or neighborhood to the next.
“It’s an education process,” Fox said. “So, if my relocation clients are unfamiliar with Houston, I take them on a tour of the city during our first time out together. This helps them to understand how the city is laid out.”
Once they have zeroed in on a specific neighborhood or property, Fox advises her clients to drive around the area at different times of the day and night to get a better feel for the neighborhood, as well as what their commute time would be to and from work.
In terms of the availability of rental properties, Fox said that it is very areaspecific. So, in more sought-after areas and neighborhoods, there are generally fewer properties available, but if someone is willing to be more flexible and look at options that are a little further out, there are typically more options.
She added that depending on the area and neighborhood, a renter might have more negotiation power.
“I recently worked with a relocation client who was looking to lease a home in the northern area of the city. There were 12 properties available, and they were all vacant. So, we knew that we could negotiate a little, since the landlords would want to get somebody in those properties,” Fox said.
For those who prefer the convenience of apartment living, Houston is full of choices, particularly within the high-end luxury market.
Sharon Pfeffer, vice president of sales for HomeCorp Relocation & Real Estate Services, said that over the past few years that the Houston area has become inundated with new apartment communities.
Due to the changes in the local market, Pfeffer said that many of those communities have experienced much lower occupancy rates than anticipated, which spells opportunity and cost-saving incentives for many would-be apartment renters.
“There are some great deals to be had,” Pfeffer explained. “Since Houston is so over-saturated with new apartment communities, many of these new high-end communities are giving up to 12 weeks of free rent on a 12-month lease.”
At the same time, Pfeffer said that renters might incur additional fees for things that they didn’t have to pay for in the past.
For example, while many new communities offer an abundance of amenities, which might include state-of-the-art fitness centers, conference rooms, business centers, theater rooms, pools and much more, Pfeffer said that some communities charge monthly concierge amenity fees of around $125 on top of the monthly rental rates.
There are also additional fees, as well as restrictions, for pet owners who want to lease an apartment. Pfeffer said that apartment communities typically charge a $500 non-refundable pet fee, and that some communities charge an additional fee of $10 to $25 per month per pet.
“We have also seen a change in the criteria for pets. There used to be a weight limit restriction of about 25 pounds, but now there are also breed restrictions. So, an apartment might allow dogs up to a hundred pounds, but they might have a restricted breed list that includes Rottweilers, pit bulls, and even German Shepherds,” said Pfeffer.
Knowledge and understanding about the fees associated with renting an apartment is just one of the many reasons that Pfeffer said that it is important for newcomers to work with a Realtor or apartment locator.
“Because of the vast number of apartment communities in Houston, a person could spend weeks looking at apart- ments. So working with a licensed Realtor or locator will help people to narrow down their choices and find something that matches their criteria,” Pfeffer said. “We also know the reputation of a lot of the properties management companies in the Houston area, which is very helpful to our relocation clients when selecting an apartment community.”
Fox also agreed with the importance of working with a Realtor when looking for a rental property.
“There are so many terms that can be negotiated in a lease agreement, so it is important to work with a Realtor who is experienced and who can represent their best interest,” she said.
Michelle Sandlin is an award-winning writer, journalist and global mobility industry expert. Her work is frequently featured in Worldwide ERC’s Mobility magazine, and in various business and industry related publications and corporate blogs. Follow her on Facebook: www.facebook. com/TheMichelleSandlin and on Twitter: @ MichelleSandlin. Also visit “On the Move” at blog. chron.com/onthemove.