If you’re looking for the calm after the storm, you probably won’t find it just yet. Post hurricane, the real estate market in Houston is changing. Depending on whether you are an owner, property manager or buyer, it could be positive or negative. Housing prices have increased along with rent in areas that didn’t flood.
For Houston property managers, Hurricane Harvey is also affecting questions during showings. Here’s a list of 10 questions you’re likely to encounter and a possible response.
Downtown workers are flocking to high rise condo living, but Houston high rise association management companies caution you; not everyone is cut out for this lifestyle. If you are one of the lucky ones that is, it can be a fun and active lifestyle.
The pro, the cons from Houston high rise association management, RISE
RISE is one of the premiere Houston high rise association management companies. I reached out to them for the pro and cons of high rise condo living.
It starts with HOA dues according to RISE. HOA dues tend to be a little more, but, your amenities may replace many of your now homes expenses. All Houston high rise association management says consider savings like yard care, pool maintenance, trash service, gym memberships and the list goes on. Compare apples to apples.
Are you a hoarder? If you are, the lack of storage in high rise condo living will rule it out quickly for you. Houston high rise association management says limited space is why high-rise living is ideal for the young homeowner starting out or the older individual who is retiring and downsizing.
Can’t imagine living without your furry friend? Houston high rise association management encourages you to make certain pets are welcome. Mot high rise condo living comes with heavy restrictions on pets to just not allowing them at all.
When we talk about rules, Houston high rise association management company RISE says noise restriction are usually extensive. Do sleep days and work nights? Do you have a kicking stereo or home theatre system that you love to blast…you might want to reconsider; condo high rise living may not be your best option.
Parking is another area that needs to be considered according to Houston high rise association management company RISE. Most one-bedroom condos come with one parking space due to limited parking. They may have additional spaces you can lease, however if they don’t and you’re a two-vehicle family, high rise condo living might not be for you.
The bottom line from Houston high rise association management company, RISE
Do your homework; that’s what my friends from RISE say. Look at your lifestyle and what you are willing to change if you are making the move from a traditional single-family home or duplex. Don’t forget to ask about the financial condition of any condominium property you are considering; if you’re not sure what to look for, contact RISE (713) 936-9200 or [email protected]. RISE sets the standard when it comes to Houston high rise association management.
You must take the following steps to be eligible for repayment:
1. Go to Disaster Assistance and register for assistance.
2. Once you are registered, keep all receipts.
3. Use the following phone number to process hotel payments: 800-621-3362
Volunteers at covered bridge. Helping hundreds of people get back into their homes after Hurricane Harvey
There are concerns about the scheduled water releases from major House Dams in an effort to help prevent uncontrollable flooding in the Houston-metropolitan area cause by torrential rain from Tropical Strom Harvey, the Army Corps of Engineers begins to release water from the Addicks and Barker reservoirs. Rise Association Management Group prepares for what might be in store for some of their condominium communities located within the vicinity of Buffalo Bayou.
Houston officials project thousands of residents to be impacted by this scheduled release. The map below provides an overview of anticipated water levels.
Many of Rise’s communities are located within this area and are expected to encounter unprecedented flooding. Owners from Marlborough Square Townhomes, located just south of Buffalo Bayou on Wilcrest Drive, are keeping a close eye on the scheduled water release.
Rise Association Management Group will be ready to dispatch a recovery team to this community if water levels reach historic levels.
For more information visit the news report on ABC NEWS
Do you think by just visiting a condo property you can tell if it is self-managed by owners or run by a professional condo management group? If you answered yes, I think you are absolutely right!
A realtor friend was telling me about a series of visits she made to various condominium properties all over town with a potential buyer. She explained how she could tell if a property is self-managed or managed by a professional condo management group almost immediately upon pulling in the parking lot. Now granted, she’s a realtor, so she probably has a level of expertise that most people don’t have, but she said, her clients’ normally have the same ability by the end of a few showings and normally pick the condominiums that have that professional condo management group. Why?
Professional condo management group; the visual difference and why
A professional condo management group makes a definite difference in the aesthetics of your property from a physical aspect. Here’s just few of the differences:
- Daily maintenance – A condo management group will have a team of people who are responsible for the daily look of your property. They make sure the pool and the area around the pool are clean; they make sure grass is cut and bushes/plants are properly trimmed and cared for. They make sure common areas are clean, well-lit and cared for. When utilizing self-management, normally a maintenance person is hired with limited supervision, so, things don’t always get done when then should or how they should-after all, they’re just one person.
- Regular extended maintenance – Does the trim on your condominium property look faded and worn? Were you swarmed by bees at the entrance to your door? These are regular extended maintenance items that a condo management group has scheduled, so they never become a problem. Again, with self-management these things are hired out or that one maintenance guy is still trying to fit it into his schedule. The sad thing is, left undone, items like this can become major expense items. Which brings us to the next item…
- Supervision and identification of capital improvements – Most self-managed properties do not have the expertise nor the people to keep up with reserve funds, capital improvement projects and long range planning. By five years in the property is showing sign of wear that are physical and expensive to repair or replace. Condo management is a full-time job, best handled by a professional condo management group.
But there’s a mental difference too…
Oddly enough, my friend also claims you can tell the difference by talking to the people or sometimes by just observing them. Not just the staff, the tenants too!
In properties that are self-managed, you will hear people openly discussing their unhappiness at how this is being done, or isn’t being done. In fact, in some communities where there is turmoil of neighbor pitted against neighbor, you can literally feel the tension as you encounter these people on the sidewalk. Heaven forbid they get a hold of the realtor’s client and tell them how they really feel. (Yes, that has happened). A professional condo management group is neutral; so, they are the barrier that keeps neighbors happy. Residents have a place to take their concerns regarding maintenance, and they know they will be addressed. Click here for another resource and view on the topic.
Staff at self-managed properties while still friendly, many times don’t have the level of expertise to handle the difficult questions a potential buyer or resident might have. When utilizing a professional condo management group like RISE in Houston, you don’t have this problem; there is always someone there to answer the questions correctly and efficiently.
Make your site visit a positive one by utilizing experts in the condominium management group business like RISE in Houston. See a professional condominium management group can increase the face value of your property, explore RISE by visiting www.riseamg.com or request a quote by contacting RISE at (713) 936-9200 or [email protected]. Condominium management that increases your value and living experience daily.
It’s funny, Wiki defines property management such as condominium and townhouse management services as follows:
Property management is the operation, control, and oversight of real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its useful life and condition. This is much akin to the role of management in any business.
Property management is also the management of personal property, equipment, tooling, and physical capital assets that are acquired and used to build, repair, and maintain end item deliverables. Property management involves the processes, systems, and manpower required to manage the life cycle of all acquired property as defined above including acquisition, control, accountability, responsibility, maintenance, utilization, and disposition.
That’s great for a generalist in property management, but not for someone who is a specialist in condominium and townhouse management services. Ask yourself if your condominium and townhouse management services is really doing all of that.
But Wiki doesn’t stop there, it talks about roles; roles essential in condominium and townhouse management services
So, what does Wiki say the roles are in property management by a condominium and townhouse management services group?
1. The full and proper screening or testing of an applicant’s credit, criminal history, rental history and ability to pay.
2. Lease contracting or accepting rent using legal documents approved for the area in which the property is located.
3. Mitigation and remediation regarding any maintenance issues, generally within a budget, with prior or conveyed consent via a Limited Power of Attorney legally agreed to by the property owner.
4. Maintaining necessary records for tax and legal purposes.
A little vague huh? In fact, realistically, this doesn’t come close to outlining all the services you expect from your condominium and townhouse management services group, does it? But it may be all you are getting if you are using a generalist for your condominium and townhouse management services.
What should you expect from a condominium and townhouse management services group?
First, you should expect everything above, but not delivered by one or two individuals trying to be all and wear all the hats, resulting in a limited knowledge in anything in particular. Look for a professional condominium and townhouse management services group like RISE. This simple secret is what sets RISE literally above all the rest:
CONTENT KNOWLEDGE IN ALL AREAS BY INDIVIDUALS WHO ARE SPECIALIST IN THEIR AREA OF EXPERTISE RELATING TO CONDOMINIUM AND TOWNHOUSE MANAGEMENT SERVICES!
Wow, what a concept! RISE will not send the maintenance guy to represent you in a civil case in court; they won’t have a customer service representative do your tax return. Very simply, RISE has tooled their company for your success by staffing with every known professional needed to effectively and efficiently act as a condominium and townhouse management services group. Why would you want a generalist when you can have RISE, the specialist?
Want to know more about comprehensive condominium and townhome management services by a specialist, explore RISE today by visiting www.riseamg.com or request a quote by contacting RISE at (713) 936-9200 or [email protected]. RISE, the condominium and townhouse management services group that increases your condominium/townhome value and living experience daily.
We’re all adults, and we all understand the need for rules, following the rules and accepting the consequences, but sometimes a condo management company with limited experience and structure becomes a predator in the eyes of the owner/tenant and worse yet, in the eyes of the buying community and their behavior can hurt your property values.
Who makes the rules, the condo managment company?
A good condo management company knows that every condominium community has a set of CRRs that provide the basic guidelines for governing the community. It is the job of the condo management company to:
- Interpret governing documents
- Apply rules unbiased across the residents
- Provide access to rules/consequences for residents
Unequal application can result in unhappy residents who will accuse the condo management company and the board of bias. The old one person tells 10, who each tell 10 and you can easily see how the predatory title can get started.
Is it just the rules from the condo management company that effect values?
Condo management companies can get the predatory title by not having a structure for their financial practices including collection of monthly fees. In the CRRs, there should be wording that tells tenants their rights. Good condo management companies go a step further than telling you to check your CRRs for information on collections; they provide clear communication of:
- When monthly fees are due
- What the penalty is for late payment
- The results of terminally delinquent accounts, such as liens against your property, etc.
- Communication of budget including reserve funds and special assessments
Condo management companies like RISE do rise to the top when it comes to this type of service, as they only deal with condominium management, and they have amassed expertise in all areas of condominium management instead of having one person try to wear all the hats and have all the knowledge; lawyers are interpreting the documents, financial people are providing a clear and concise look at the finances of your property, maintenance professionals are accessing risk and management people are making sure you, the resident are always in the loop and treated fairly.
Interested in protecting your community from a predatory condo management company?
There are numerous condo management company models out there, but none has the complete package like RISE in Houston. Never a predator, always a partner and always watching out for your property values. Interested in seeing how a condo management association can help you sustain and even increase the value of your property, explore RISE by visiting www.riseamg.com or request a quote by contacting RISE at (713) 936-9200 or [email protected]. Condominium management that increases your value and living experience daily.
Remember that song, “It’s Alright to be Little Bitty”? Well, now it’s not just alright, it’s cool and the tiny house living concept has reached the condominium market with micro-condos coming to downtown Houston. Houston condo management groups like RISE are ready for the challenge. Imagine living in a space that is a mere 300 SF, wow! There are a lot more moving parts and a lot more residents in a 500-unit micro-condo, so Houston condo management companies need to be on top of their game. Can’t get that song out of your head? Me neither, so just sing along.
Houston condo management made micro
So, what could be so different for Houston condo management when it comes to micro-condos? The first thing is many of the furnishing may be built-in as part of the condo for functionality. If that’s the case, who takes care of these built in interior items, many of which fold into walls or become walls or counters? Traditional condo is studs out for maintenance. Add to that and you have added a substantial amount of maintenance costs. Houston condo management companies like RISE have teams that can provide input from all sides of the equation and provide a reasonable solution.
500-Units will tax any Houston condo management group
Let’s step back from the maintenance and say we stay with traditional studs out, consider the magnitude of collecting monthly homeowner fees and managing the day to day task of that many residents. Any Houston condo management group that takes on a task like this better have heavy resources to rely on when it comes to all facets of condo management; physical plant, financial, security, risk management and long term planning. Companies like RISE in Houston bring all the best skills to the table. Do your homework when finding the Houston condo management group to manage your property no matter what size so make sure they understand all the complexities.
What’s the difference between managing 500 micro-condos vs 500 condos?
The difference in managing micro-condos vs traditional condos is the footprint. The foot print and proximity of one condo to another in a 500-unit micro-condo brings a whole new dimension to close living quarters. Any Houston condo management group will tell you this abbreviated proximity to one another means rule enforcement is not only a must, but also a challenge. Does that mean an onsite manager, only assessment of the situation can tell and companies like RISE know this, so they do that assessment up front.
Micro or maxi, Houston condo management is the way to go
Still singing that song….any way, the size of your property really doesn’t matter; any property will be better served by a full service Houston condo management company. Emphasis on the “full service”, a company like RISE that offers as much or as little as you need and all the experts under one roof. Give RISE a call and explore what RISE can do for you. You can visit their website at www.riseamg.com or request a quote by contacting RISE at (713) 936-9200 or [email protected]. Remember, “It’s Alright to be Little Bitty.”
Rise Association Management Group
3200 Wilcrest Dr. Ste 110
Houston, TX 77042