3 Bed/ 2 Bath/ Attached Garage/ 1,231 Sq. Ft. in Old River Manor Subdivision Coming Soon!

by marketing team 10, October 2016 07:34

Ashoka Lion’s Rental Property Management has a new rental property coming soon to the market in Old River Manor Subdivision in Channelview City in the zip code of 77530.

If you are looking to rent this property in Houston, then you can reach out to our listing partner with Lion Group team at Carrington Real Estate to setup a preview before it hits the market. 

 Bedroom: 3 Beds                          Bathroom: 2 Bath

 Garage:  Attached Garage               Yard:  Yes

 Sq Footage: 1,231 Sq. Ft.              Stories: 1 Story               

 Lot Size: 7,405 Sq. Ft.                  

Amenities: 

This location is in Channelview. Nearby parks include Channelview Stadium, Monterief Park and River Terrace Park.

This location is in the South East neighborhood in Fort Worth. Nearby parks include Fairfax Park, Prairie Dog Park and Village Creek Park.

When choosing a home to rent, you may want to consider what kind of retail and restaurants are nearby.

Check out the Walk score: https://www.walkscore.com/score/16014-upshire-st-channelview-tx-77530

 After tenant move out or the home is available, please let us know if there are any issues that we may need to take care for you to move in. You can include it with your application so we can make sure that our make ready and the prospective tenant’s expectation are met.

More about our Property Management Team:

Ashoka Lion’s rental property management teams have been in business since 2006. We have been assisting landlords find quality tenants and manage the home with our staff, processes, and technology. We have been accredited by the BBB in both the Houston and Dallas markets.

Our screening process involves reviewing credit, criminal, and eviction history. In addition, we are performing verifications of current and prior landlords.

In regards to tenants, we have a thorough process to insure tenants have as smooth a process as possible with our 10 point move in process:

1.  At time of application, we do have explanation of some of the common issues that you will be signing off that you understand

 

2.     We have a page on our website with our criteria and documents requested including a separate page as to why we are requesting those documents.

3.     We do have a FAQ included on the website to discuss policy and procedure

4.     When we approve your lease, you will be given a clear set of terms in regards to monies owed and time frame that we request you approve

5.     When we send the approval for a tenant, there is a checklist to discuss steps to be taken prior to moving in

6.     Our welcome email and checklist has links for items such as a. (TREC discussion of main body of leas) and ( b. Importance of having renters insurance for tenants 

7.     Our staff will do an orientation to discuss lease and make sure you understand how we operate with our portal, etc.

8.     Our management companies lease packet includes a tenant user guide and FAQ in lease packet

9.     We request that tenant pays a $125 fee to meet a photographer/assessment person to help photographically document move in condition. This is to protect dispute between landlords and tenants regards to condition and damages. This report will be shared on your tenant portal online.

 

10.  Our management company’s manager or team will swing by later on to pick up lockboxes and supra, and this gives you a chance to let them know how the transition into the home is going.

If you are looking to apply to this property, visit our prospective tenant page.

 

 

 

 

 

 

 

 

 

Rental Unit - Great Way to Earn a Living

by Mirania 27, November 2012 16:59

To state the obvious, it is always better to own a rental unit that generates regular income than owning a property that creates heavy expenses. According to an interesting article published on Forbes.com (Click here for the full story from August 8th A 2012) earning an income from your rental units can prove to be a better financial strategy. 

Owning a rental unit has the following advantages:

  • It helps you earn a regular income (rent);
  •  It helps you obtain a positive cash flow ; and
  • You will be in profit even after paying all the expenses mentioned above.

Renting out your property can prove to be a profitable venture. There are countless landlords in Houston and Dallas area who have a flourishing business by renting out their assets. If you are looking forward to entering the business of renting property in Houston or Dallas area, you should master certain essential skills. The following tips and tricks will guide you to enter into the business of rental property. An ideal landlord possesses the following characteristics

  • Do you Deal with People well?: Being a landlord requires you to deal with vendors, tenants, governments, HOA, etc.
  • Do you know the right people? To be a successful real estate investor and landlord, you will need to build trusted relationship with real estate agents, contractors, banks, etc.
  • Do you have time to deal with a potential 24/7 commitment? You cannot expect that all repair emergencies will happen during business hours or when your not on vacation. If you work a job, then you will also feel times where those commitments will pull you in different directions.
  • Are you willing to build for a long term? The work you put in maybe only for $100 to $200 a month profit above your expenses (mortgage payment, management fees, taxes, repairs,etc), so you have to accept that your building a long term profit stream.

When you begin to answer those questions posed by Forbes, you may find yourself with answers like these:

  • Working with rental agents and property managers can reduce your cost of advertising and cost with failure to screen for tenants. For example, many property managers in the Houston and Dallas area have extensive marketing programs, can develop a better idea of market rent, and perform extensive screening that a typical investor may not be able to perform.
  • It might become impossible for you to manage several rental units concurrently. A successful landlord prefers hiring a property management company to take care of the rental units on regular basis. Similarly, if you have a huge rental asset, you should look for a property management company who can handle all the household problems effectively.  Property managers can remove the issues related with rent collection, dealing with emergency repairs, book keeping, keeping up with changes in landlord and tenant law, and more.
  •  You must have sufficient savings to buy properties. The best thing about purchasing a property with cash is that you can do away with the burden of mortgage payments.  Moreover, housing loans have also made it easier for an individual to become a landlord. However, if you have sufficient savings to invest in your rental property business, it will generate more profit.

Being a landlord is a viable way to earn a living for the right kind of person who has the financial resources, long term vision, risk tolerance, and ability to build the right team around them.

Tips to Avoid Rental Scams

by Mirania 27, November 2012 16:25

Rental Scams have become a common phenomenon these days with several tenants falling victims to apartment rental scams or a fake landlord scams every other day. Recently, I came across a news report at Myfoxphilly.com that speaks of an unscrupulous landlord who has duped several prospective tenants by luring them to sign false rental agreement for the same property. The prospective tenants have claimed paying thousands of dollars to the landlord as security deposits that he did not pay back for a house.

In order to avoid rental scams, tenants should be careful and follow certain measures to avoid such scams.  The number of rental scams is multiplying by leaps and bounds in real estate market. This article would focus on few guidelines that a tenant should follow in order to avoid getting scammed by dishonest landlords.

1) Read your documents: Never pay a security deposit before signing the rental agreement. If you have rented before, you can hopefully recognize some of the features of your standard lease (name of landlord, payment terms, late fee, rules,etc), and you should inspect your documentation to see if it looks legitimate.

2) Check out the Property in person:  Checking out the rental property if you can; because you may never get back your money, if it is a scam.  If you can drive by the property, then you can see if there is a rental sign in front of the property and this number matches the online advertisement contact numbers. Also, make sure that you check with the people in the neighborhood to confirm who owns the property.

3) Check if property ownership information matches online:  Ensure that the property you are renting is a legitimate rental property. The increasing number of foreclosures has encouraged the scammers to rent out properties that do not belong to them. Thus, before renting a house, spare some time to do an online investigation on the landlord and see if the name of the owner matches the party that you are contacting.  Additionally, usually property records will indicate potential mailing addresses , then you can use that to identify irregularities, if any.  The online records may indicate a ownership by the bank, so it may help identify that the landlord no longer owns the home.

4) If it sounds too good to be true,then it probably is:  It is not an easy task to identify a rental scam.  Often times, we as consumers or tenants get attracted to the astounding offers, attractive prices, and great deals that we open ourselves up to being fooled by the scammers.  One way to check is google the address and check the local real estate association sites and see if the property is listed on other sites for different prices, listed as a short sale, pre-foreclosure sale, or other contact information may differ. It maybe that the scammers are find their potential target properties by scanning other real estate listing and co-opting them for their purposes. In the case of this landlord in Philly, you may find out that the bank has listed the property for sale or short sale, and the owner or former owner did not have the right to lease it out again.

These are few important tips for tenants so that they can avoid being scammed by landlords. Therefore, as future tenants you should always be vigilant to avoid scammers and keep these guidelines in mind next time you look out for a rental property. It also helps to work with licensed real estate brokerages and property managers as they are governed and monitored by state regulatory agencies, so it does provide some  level of comfort that you are working with legitimate parties.

 

Philadelphia News, Weather and Sports from WTXF FOX 29

Philly Tenant scammed by landlord

by Mirania 7, November 2012 15:47

Rental Scams have become a common phenomenon these days with several tenants falling victims to apartment rental scams or a fake landlord scams every other day. Recently, I came across a news report at myfoxphilly.com that speaks of an unscrupulous landlord who has duped several prospective tenants by luring them to sign false rental agreement for the same property. The prospective tenants have claimed paying thousands of dollars to the landlord as security deposits that he did not pay back for a house. (Click here for the full story)

In order to avoid rental scams, tenants should be careful and follow certain measures to avoid such scams.  The number of rental scams is multiplying by leaps and bounds in real estate market. This article would focus on few guidelines that a tenant should follow in order to avoid getting scammed by dishonest landlords.

1) Read your documents: Never pay a security deposit before signing the rental agreement. If you have rented before, you can hopefully recognize some of the features of your standard lease (name of landlord, payment terms, late fee, rules,etc), and you should inspect your documentation to see if it looks legitimate.

2) Check out the property in person:  Checking out the rental property if you can; because you may never get back your money if you are duped.  If you drive by the property, then you can see if there is a rental sign in front of the property. You can see if number matches the online advertisement contact numbers.  Please note that licensed real estate agents can also cooperatively show the property for other brokerages, so if the numbers do not match; you may need to investigate who the person marketing is and what there relationship is. It is okay to use a agent to help you see homes and it is a common practice, but you just need to make sure that you understand that relationship early in the propcess. Also, another advantage of checking out a rental property in person is you maybe able to check with the people in the neighborhood to confirm who owns the property or situation.

3) Check if property ownership information matches online:  Ensure that the property you are renting is a legitimate rental property. The increasing number of foreclosures has encouraged the scammers to rent out properties that do not belong to them. Thus, before renting a house, spare a moment to do investigate if the landlord who is talking to you is the name of the owner in the county records. 

You can use this kind of research to identify irregularities, if any.  The online records may indicate a ownership by the bank is the owners, and this may mean that the landlord no longer owns the home. 

4) If it sounds too good to be true,then it probably is:  It is not an easy task to identify a rental scam.  Often times, we as consumers or tenants get attracted to the astounding offers, attractive prices, and great deals that we open ourselves up to being fooled by the scammers.  One way to check is google the address to see if the listing comes up under as being listed by any agents or brokerages.  You can check the local real estate agents or real estate brokerage site or real estate association sites to verify information about the agent or listing. 

Things you maybe able to determine by doing some research:

  • Is the property is listed on other sites for different prices?   Scammers love to list property for well below market price to entice people to work with them.
  • Is the property listed as a short sale, pre-foreclosure sale?  Scammer love to look for property where people may have vacated home and use that to help perpetrate their scams.  In the case of this landlord in Philly, you may find out that the bank has listed the property for sale or short sale, and the owner or former owner did not have the right to lease it out again.
  • Does the contact information differ? Sometimes scammers will look up information to make it seem like it maybe the owner directly marketing it. They will create fake email addresses that are similar but not exact.  It maybe that the scammers are find their potential target properties by scanning other real estate listing and co-opting them for their purposes.

These are few important tips for tenants so that they can avoid being scammed. Therefore, as future tenants you should always be vigilant to avoid scammers and keep these guidelines in mind next time you look out for a rental property. It also helps to work with licensed real estate brokerages and property managers as they are governed and monitored by state regulatory agencies, so it does provide some  level of comfort that you are working with legitimate parties.

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Amityville Horror: Know before you buy!

by jay.raman@ashokalion.com 1, October 2012 14:34

To commemorate Halloween, Ashoka Lion will be providing a fun look at our favorte horror movies. Amityville Horror (1979) was the story of a family who got a great home for a incredibly low price. Unfortunately, this home has a few issues including leaky pipes, bad phone connections, pest problems, and of course a demon possessed home. Now, I doubt most investors or landlords in Houston or Dallas ever face the need to have a home excorcised while adding a new paint job and floors, but it does remind owners to understand that unexpected things can pop on any real estate investment.  It is very difficult to learn every aspect of a home before buying, so the unexpected can arise. For our firm, we do request owner's to tell us about their rental properties to help us have a idea of what we could be facing.

The disclosure forms help us to know if there were any major repairs, types of ammenities, and features. Also, it helps our owners to remember things that may have been issues in the past (foundation, termites,etc). This kind of information helps us better understand potential issues that may arise and cost as a landlord. Owners must realize that those cost must be reserved for potential replacement for things like water heaters, garbage disposal, carpets,etc.  Being a landlord can be very lucrative, but it means trying to understand the risk. Our job as property managers are to help our Houston and Dallas owners understand and prepare for the worst and minimize the risk.  However, even with the experience of our property management team, you can encounter weird situations.

Now whether you are home buyer or investor, you have to accept the risk of the unknown, but I am not sure whether there is enough of a deal for a investor to buy a home that scream "GET OUT" to you!  

Check out our list being revealed at our Facebook page.


Importance of Screening Tenants

by Mirania 31, May 2012 19:52

Proper screening of your tenants is the most important factor for renting out your house as it helps eliminate tenant problems significantly. As a landlord, you should always ensure that you are renting out your property to an eligible and responsible tenant.

We often come across various landlords in Dallas and Houston who have been facing tenant problems because of their ignorance about the tenant screening process. As investment property managers, we always advise our clients to do proper screening of the prospective tenants before leasing the property to them. Screening tenants is important as it saves you from imminent troubles by reducing the threat of possible loss of income from nonpaying tenants and tenants who may not care for yoru property. Moreover, it also protects you from all legal hassles. as the eviction process in Houston and Dallas for example can take up to a month and have additional court fees.  

If you are starting out in property investment and planning to rent out your property, we hope that these tips would help you conduct careful screening of your tenants to eliminate all potential tenant related risks.

  1. Rental Application: The first step is to make your potential tenant fill out a rental application so that you have complete information about the tenant for verification. Rental applications help you to make the right decision for renting out your property. Once you get the rental application from the potential tenant, you should review it properly and trace out if there is any inconsistency in the application.

  2. Ask for Identification:  The prospective tenant should also provide you with valid identification details such as a copy of a Social Security card or drivers license. These details should be provided along with the rental application. Please, remember that when you take these documents that you have obligations to safeguard these documents as a property manager or a landlord. You should have proper storage and document retention policies in place.

  3. Do background checks: The next important step is to conduct a background check. As a landlord or property management company, you should take all possible measures to perform a background check of your tenants. This helps you to ascertain that you are renting out your property to a qualified tenant. While doing a background check keep the following factors in your mind:
    • Call the present landlord to know about the potential tenants.  You can find out if tenants have a habit of paying late, have a balance, or take care of the property
    • Do a proper analysis of their employment details. Make sure you figure out if their take home pay is enough to cover rent and other obligations.
    • You should also ensure that the prospective tenant does not have any criminal history that will put the property or community at risk.
    • You should verify with employers to make sure that the tenants are presently employed.

  4. Check the credit history of the prospective tenant: Credit checks of potential tenants are equally essential to safeguard your interests as a landlord.  Credit reports can help you determine if the prospective tenants will pay on time.  Please note that tenants in today’s economic situations do have issues, so you may have to do a further analysis including putting more weight on rental history. 
  5. Get an eviction check done:  This is another important stage of tenant screening process. Past records of an eviction indicate that the tenant has the habit of skipping rent-payment. It also indicates that he or she might not leave your rental property if you experience any issue related to rent payment and other relevant issues.

  6. Utilize a strong rental agreement: It is imperative for you to create a rental agreement that should lucidly explain the terms and conditions of renting out a property along with the code of conduct. The rental agreement should be properly read to understand the duties as well as the responsibilities of the tenant as well as the landlord. The lease agreement should be duly signed by both parties  (or a duly appointed property management representative). If you used license realtors or licensed property management firms, then they should have access to well drafted and legally binding leases that are consistent with the landlord and tenant laws of your state. Your prospective tenants should know exactly what is expected of them. If they balk at a well drafted lease or terms, then this could be warning signs that you could have issues in the future.

These tips will help you ward off difficult tenants, and help to ensure that landlords and property management companies get the best tenant for a rental property.