Houston is one of the largest metropolitan cities in the United States (4th largest city behind New York, Los Angeles, and Chicago), and it has a population of over 2.25 million people as of the last census count. In addition to large population, Houston boasts some of the following facts. These facts were obtained from the City of Houston page
- Houston has a theater district second only to New York City when reviewing the concentration of seats in a concentrated area. Houston is home to 9 performing arts groups and has over 12,000 seat capacity in the 17 block radius of the theater district.
- Houston is home to the largest rodeo in the world that drew over 2.2 million visitors last year (as noted by the Live Stock Show's figures as of 2010).
- Houston is home to the largest medical center in the world that employs over 52,000 people a year and serves over 6 million patients annually.
- The Port of Houston ranks as one of the ten largest ports in the world.
With all this vibrant development, it is easy for people to understand why Houston Metropolitan area remains one of the faster growing metropolitan areas
. People continue to move to Houston for its access to jobs, medical care, lower cost of living, lower real estate cost as compared to the national average, and friendly Southern Hospitality. This is why real estate investors see potential for Houston for rental property investments. With buying a home a bit tougher in 2011 than previously, it makes sense that the population growth in Houston is shying from buying homes and turning to renting. This poses a great opportunity for real estate investors to find the right deals and capture solid cash flowing property, and Ashoka Lion will be your strategic partner in managing those rental properties in the Houston and surrounding areas.
Things to consider when dealing with rentals in the Houston area:
As the landlord and tenant issues grow more complex and regulated in the Houston and surrounding area, it is important to retain a team focused on the issues of property management. Additionally, these issues are issues for investors in the Houston, Missouri City, Sugar Land, Stafford, Pasadena, Spring, Spring Branch, Memorial, Medical Center, Midtown, Galleria, Deer Park, Clear Lake, Clear Creek, West Chase, Cypress, Humble, and other suburbs around the Houston Metropolitan area.
The suburban areas surrounding Houston offer great schools, large homes, and solid areas for families to live. With the current restricted lending environment, home buyers may have their home buying plans put on hold, and so renting a home in one of these desirable areas is a solid option for many people looking to enjoy the benefits of these suburban areas. As a landlord, you have to be aware that there maybe local ordinance calls that require rental registration, rental inspection or additional requirements for landlords in those local areas.