Renting a Home in Katy Texas is No Easy Task
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Renting a Home in Katy Texas is No Easy Task
I have heard from numerous individuals who are planning to move to Katy Texas that they want to rent a home and not buy a home. In addition, I have heard some local companies who are relocating employees to this area are encouraging through incentives for their employees to rent and not buy. You and your family can find a rental home in Katy Texas but it will not be easy and it will be expensive. The south Katy rental home market or MLS area 36 located in KISD only has about little over a 1 month supply of homes available. Prices are high and landlords are very demanding.
If we look at available rental homes right now we find: 63 homes with 2-3 bedrooms and are being listed to rent for $1,500 / per month midpoint of prices; 129 homes with 4 bedrooms are being listed at $2,250 midpoint of prices. Most folks moving here are looking for 4 bedroom homes. Landlords are not negotiating off from their list price. Landlords are expecting a minimum lease term of one year. This means if you want to lease a 2-3 bedroom home you and your family will be spending $18,000 during the next year to rent this home and help pay for someone else’s mortgage payment. If you want a 4 bedroom home you and your family will be giving the landlord $27,000 during the next months and that will cover the owner’s mortgage debt plus many expenses and leave the owner will a very handsome profit. Owners love renters who pay all of their bills and give them a handsome profit to boot.
If a home is in decent condition and priced based on other comparable rental homes and neighborhoods the home will rent in a matter of days after hitting the market. Landlords do not like pets in general terms. If you have one small dog or cat they may be interested in considering you and your family as a candidate to rent their home. The owners are also very picky about credit history and scores. If you have a spotty credit record most owners are not interested in accepting you to rent their home. Most of these owners are much tougher on credit than the banks.
However, it is a great time to buy a home in South Katy MLS area 36. Prices have consistently increased by small amounts the last 4-5 years. There have been no huge ups or downs. Interest rates are at or close to historical lows and there are still a good number of available homes reasonably priced at $300,000 or less. These conditions will not last forever. Potential home buyers seize the moment before this golden opportunity can only be seen in your rear view mirror.
If you or your family would like to take a tour of the South Katy home market contact me and I will be glad to show you exactly why buying a home today is the smartest accomplish you might ever make in your lifetime.
If you have any questions about homes for sale or homes for rent
in the Katy, Sugar Land or surrounding areas or other questions
contact me at bobgilbert2003@msn.com or at bob@bobgilbert.com or visit us on the web at
http://www.katyhomefinder.com Katy TX Real Estate Expert
Read my blog at http://bobgilbertblog.com
TEAM DEVER...
Bob, Realtor, CPA AND MBA
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