San Antonio Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

July 9, 2019

3 Common Questions About Home Rental Insurance

Most properties require renters insurance for all their tenants, but why? Is it just a ploy by insurance companies to get your money? There’s a lot to worry about when renting a home or renting out your property, especially when it comes to insurance. Here are three things you may not know about renters insurance and why it’s so important to get.

1.   Do I really need renters insurance?

If you’re moving into a rental home in San Antonio, the first thing you need to consider is how valuable your personal property is. Many property management companies will require a certain base level of renters insurance to cover all the bases if a disaster were to occur.

 

If your property management does not require you to purchase renters insurance, then you should consider the value of all the items in your home. Think about what you can afford to replace if worse came to worst and everything was destroyed or ruined in a natural disaster. If that thought makes you start to panic, then purchasing renters insurance may help you gain some peace of mind.

 

2.   Does renters insurance cover everyone in the house?

Are you living on your own? Renters insurance will cover absolutely all of your personal belongings. Some insurance companies will allow you to replace up to a certain dollar amount of damages while others will have you declare your property in the event of an incident. If you’re living with a spouse, most insurance companies will gladly add them to your policy, allowing you to include your spouse’s belongings in the policy.

 

However, if you are unmarried and living with another person, the rules on covering others in the home get more complicated. Generally the rule of thumb is that if you and the other(s) in your home split all expenses (not just rent and utilities, but personal belongings as well), then you can both be on the same policy.

 

3.   Can I get renters insurance if I own the home?

Generally renters insurance is used to protect personal property in a multi-family home owned by a landlord or leasing company. The landlord will buy property insurance to protect the building, and tenants will purchase renters insurance to protect their own belongings. This allows tenants the luxury of crafting their own policy, covering as much or as little as they want.

 

If you own the home and rent it out to tenants, you should have them purchase renters insurance to avoid any snafus in the case of a dramatic incident. Of course, renting through a qualified property management company can also help simplify the process of renting out your property.

 

Still have questions?

Whether you’re renting your property out or renting your current home, it’s crucial to understand the benefits of having rental insurance. If you’re still uncertain, contact San Antonio Luxury Realty today for more property management information.

May 30, 2019

Rent to Own Lease Options in San Antonio, TX

The best part about owning or leasing a home in San Antonio, Texas, is the favorable market conditions that exist at the moment. There are great options all over the area for buyers, sellers, and renters to take advantage of great value in a thriving city. With that in mind, there are a number of questions you’ll want to answer before diving into a rent to own lease option in San Antonio, TX. Let’s take a look at each one in turn.

 

Is Lease to Own the Same as Rent to Own?

Most of the time, individuals looking to buy a home require the financial instrument of a mortgage to make their home purchase payments. If you have a poor credit situation or inability to receive a large loan, then a mortgage may not be the best route. In these cases, a rent to own lease option might be a great alternative.

 

In a rent to own option, you simply rent a home as you normally would, but with one notable and very important exception: you have the option to actually buy the home prior to the expiration of the lease. Leasing to own and renting to own essentially mean the same thing. In both cases, you pay monthly to stay in the home while having the option to buy the home itself before the rental or lease agreement expires.

 

How Does the Rent to Own Process Work?

There are several parts to a rent to own process, each of which is very important and can have positive or negative repercussions for the future of the renter/leaser of the property. The first step is to determine whether the agreement will be a lease-option or a lease-purchase.

 

Lease-options allow the renter the option to buy a home before the expiration of the lease. Lease-purchases typically require the renter to buy a home at the lease expiration, regardless of whether they are financially able to afford doing so. Because of this, take extra care to figure out whether you are being offered a lease-option or a lease-purchase agreement before signing on any dotted lines.

 

The second part of the rent to own process regards the negotiation of the actual home price. There are two ways that the price of a house can be determined in a lease-option or lease-purchase scenario: at the time of lease signing or after the lease expires. If the prices of homes in the area where you are renting seem to be on an upswing, you might want to consider nailing down a price at lease signing to ensure that you don’t pay an exorbitant cost for the home after the lease expires.

 

The last primary point to consider is whether the rental/leasing payments will be applied to the purchase price of the home. In most cases, the total amount of rent will not be credited toward the home purchase price; instead, a percentage of the rental payments will be applied. For instance, if 20% of the rental payments is applied, and the rent is $1000/month, then $200/month will ultimately be credited toward the home payment if you choose to buy the house at the end of the lease. All of these points are important to consider. Make sure to hammer them out as clearly as possible (with no ambiguity) before signing a lease.

 

Who Is Responsible for Repairs in a Rent to Own Situation?

Another important point to consider is who bears responsibility for home repairs in a rent to own or lease to own agreement. In nearly all cases, the landlord (homeowner) pays for any repairs needed to a home during the lease-option or lease-purchase rental. While this is usually the case, you will still want to go over the rental agreement to determine this with certainty. The last thing you want is to think you will be covered and end up on the hook for a major repair.

 

Contact the Experts at San Antonio Luxury Realty

Are you planning on buying or renting to own a luxury home in the San Antonio area? There are homes for sale in San Antonio for people at every budget and home style preference. To make sure you secure the best deal – such as the best price and clearly spelled out, favorable terms — use the services of professional realtors who specialize in San Antonio luxury home rentals.

 

San Antonio Luxury Realty also has the experience and expertise needed to help you with renting a home in San Antonio. We can help you to quickly and easily find the best rent to own homes. San Antonio has a booming market. To get ahead of the game, let us help you. We can guarantee that you will rent at the best price for homes for rent in San Antonio. Get in touch with San Antonio Luxury Realty today.

April 24, 2019

The 10 Best Neighborhoods in San Antonio, TX

The word “best” means a variety of things to different people. The best neighborhood in San Antonio might come with the best schools, have the best restaurants or shopping areas, or be the safest suburb. While there is no one best neighborhood or area to live in San Antonio, there are many possible options with their own benefits and advantages. To keep things simple, let’s take a look at the top 10, based on everything you might consider when moving to a new home.

Alamo Heights

No list of the best suburbs would be complete without including Alamo Heights. According to Area Vibes, Alamo Heights ranks better than 96% of areas in the United States with great amenities, low crime rates, high employment, and high-quality schools. It also lays directly next to beautiful Olmos Park, and it’s a short drive to either the San Antonio Zoo.

Alamo Ranch

Alamo Ranch has over 3,000 acres of beautiful landscapes. It’s a great residential area with single-family dwellings and a hometown feel, but it also has commercial areas as well. Located in northwestern San Antonio, Alamo Ranch gives its residents the ability to live in an intimate and peaceful area in Texas Hill Country.

Blanco

Blanco provides its compact population of homeowners here the ability to experience the great state of Texas in a small town. The schools here are some of the best in the entire state, and it has a very low crime rate. From the thrifty to the expensive, there are homes in Blanco to fit just about any budget, including beautiful luxury real estate.

Boerne

Boerne ranks in the top 100 areas to live in, putting it in the top 1% overall in the US. Boerne prides itself on amazing schools. The high school graduation rate is nearly 9 out of every 10 students, and their students tend to do better than the national average as well, to the tune of 66% higher testing scores. For a safe neighborhood with some of the best schools in San Antonio, go with Boerne.

Bulverde

Bulverde is a cozy little neighborhood in Northern San Antonio. Homes for sale have a median value of about $270,000, and you get a lot for your money: incredible schools, phenomenal weather, and very little crime. This neighborhood has a median age of 44, so middle-age folks and older will love this town.

Cross Mountain

Cross Mountain ranks in the top 5% of all neighborhoods in the United States, and it’s surrounded on all sides by beautiful parks, golf courses, and green space. If you’re looking for a quiet neighborhood outside the hubbub of San Antonio (but still close to Six Flags Fiesta Texas), consider Cross Mountain!

Grey Forest

If small is what you want, Grey Forest is the best you can get. The entire town is only one and a half miles long and three-quarters of a mile wide. You read that right! The neighborhood only has about 500 residents, so you’re likely to know just about everyone. No need to lock your doors here! For the smallest of small-town vibes, go with Grey Forest.

Helotes

Like Boerne, Helotes ranks in the top 100 neighborhoods in the entire United States, putting it in the country’s top 1% as well. It has an incredible livability factor with more and better amenities than most areas, some of the finest schools, and an amazingly low crime rate. If you want a little exclusivity, Helotes might just be your new home.

Stone Oak

Give yourself the good life in Stone Oak. There is a great selection of amenities and housing, and a fantastic school system for elementary, middle, and high school. It’s a much bigger area than most of the others on this list of the top 10 neighborhoods in San Antonio, Texas, which means it also has plenty of restaurants, parks, and shops. 

Thousand Oaks

The neighborhood of Thousand Oaks is relatively new in San Antonio, Texas, being established as recently as 1975. The area largely offers mid-sized houses at reasonable prices, plus the highly rated Thousand Oaks Elementary School, Thousand Oaks Family YMCA, and the quaint Legacy Farmer’s Market.

Use San Antonio Luxury Realty To Find Your New Home For Sale

To make this difficult decision much easier, you need a real estate company that knows the top neighborhoods in San Antonio better than anybody else. That company is San Antonio Luxury Realty. Let us walk you through everything you need to know, answer all your burning questions, and get you into the best home in the best neighborhood in all of Texas.

 

Posted in Market Updates
March 27, 2019

4 Reasons You Should Rent From a Property Management Company

Landlord or professional property management company? When you’re renting, there’s a big difference.

When you’re trying to decide where to live, you’re probably more concerned about square feet rather than whether a landlord or property manager owns the rental. However, who you’re renting from can have just as much of an impact as what you’re actually renting. If you end up renting from the wrong person or company, your life as a renter can go from a pleasant and hassle-free to a problem-plagued nightmare.

Advantages of a Management Company

There are some profound differences between the way landlords manage a rental building and how professional management companies do that job. While you’re checking out bedrooms and the number of bathrooms, be sure to keep these differences in mind:

Professionalism

Professional management companies are, by definition “professional.” They’re a business, and tenants are their customers. Landlords, on the other hand, are often untrained, and their “professionalism” will likely depend more on who they are as a person rather than any sort of company standard.

While that’s not always a negative thing, a landlord may only have experience owning a – not running it or handling with tenants. From a renter’s point of view, professional standards from a property management company are often a better bet than risking a lease with a landlord.

Experience

Professional property management companies usually do things by the book—which they wrote. The best property management companies, like San Antonio Luxury Realty, have been doing this for years. We have time tested procedural manuals for our staff to follow for every possible scenario. There’s no winging it or making up stuff as they go, as sometimes occurs with a landlord.

 

In a professionally managed property, when things go wrong, the building’s staff quickly addresses the problem. Their job is to make their clients, the tenants, happy. There’s little or no waiting when it comes to fixing the plumbing or replacing a broken appliance.

With a landlord, however, there’s no manager or boss to ensure they’re doing their job appropriately. It’s a single person, and, as long as they’re getting their checks, they may not see an individual tenant as a priority.

 

Availability

From a renter’s point of view, perhaps the best benefit of having professionals running a building is that they are often available 24/7. If a renter locks themselves out of their apartment or a pipe bursts in the kitchen, the people working for the building are there to help. Even if a problem occurs in the middle of the night, there’s almost always someone to help—especially when some of the staff lives on the property.

Meanwhile, a landlord is much less likely to jump out of bed at 3:00 am to help a tenant. It’s hard for one person to keep up with multiple tenants, especially if they’re trying to manage more than one property, and that’s not even considering who’s in when the landlord is away on vacation or sick.

Demeanor

The staff at most rental property management companies go through a training program that, among other things, teaches them how to professionally interact with tenants. Importantly, if tenants complain about the attitude of a staff member, it's sure to get back to management. Having an unhelpful or cranky person on the team undermines the company's reputation and could, if the problem persists, jeopardize the property management's contract with the property owner. 

Rent from The Best Property Management Company in San Antonio

Realistically, renting from a professional property management company is probably better for tenants. Most renters would prefer spending their Sunday afternoon having brunch on the River Walk instead of chasing down an unresponsive landlord to get him to fix a leaky pipe you’ve complained about for weeks.

If you’re ready to rent from a top-notch property management company, take a look at our beautiful rental properties. Or, if you own a property but don’t want the hassle of managing it alone, learn more about the best property managers in San Antonio, TX. 

Feb. 20, 2019

Why San Antonio Landlords Should Hire a Property Management Company

Anyone who owns or manages rental properties knows it’s no walk in the park. Having to deal with cranky tenants, broken air conditioners and folks who “forgot” to pay their rent are just some of the burdens of being a landlord. What’s worse, tending to rental properties can easily gobble up an owner’s entire weekend

Owning a rental property is very different from managing one, just as owning a professional NBA team is very different than managing one. That’s why the San Antonio Spurs’ owners hire people like Gregg Popovich—they want a pro who knows how to run things and makes their owners money. The same holds true for landlords.

Many rental property owners have found a way to make life easier by hiring a property management company to take care of those unpleasant and time-consuming tasks. And it doesn’t have to break the bank either. For as little as $75 a month, our San Antonio Luxury Realty property management handles the hassles of managing rental properties and give owner’s back their weekends.

Benefits of Working With a Property Management Company

Besides helping deal with many of the routine tasks of running a rental property, having a property management company can, among other things, help enhance an owner’s bottom line. Here’s how:

Avoid Bad Tenants

Having a bad tenant is every property owner’s nightmare. Bad tenants can cost the owner’s money and drive them crazy. Unfounded complaints, late rental payments and the harassment of other tenants are just a few of the annoyances of having a difficult tenant.

It’s not always easy identifying these bad apples either.  Unless you have the time and knowledge to dig, and really dig deep into the backgrounds of possible tenants, bad actors can easily slip through. A top-flight property management company knows how to get past the veneer of a smooth-talking tenant to be. Good property managers are well versed in uncovering the rental histories of people, so you don’t have to.

Shortening Vacancy Times

Like an empty airline seat, a rental unit is a perishable commodity whose value disappears if it goes unused. Quickly finding a rent-paying tenant is critical because an empty unit is a wasted unit. Property management companies know this and are usually quite good in filling empty rental units with good paying renters.

Get The Highest Rent Possible

Rental property owners are known to under charge tenants for the simple reason they do not know what the current market rate is for their rental properties. Market rates change and sometimes fast. Not keeping up with current market rates is leaving money on the table, something no owner wants to do. Companies like San Antonio Luxury Realty keeps its finger on the market and knows exactly what the market will bear.

Maintain The Value of Your Property

A good property management company in San Antonio will keep a close eye on a building’s infrastructure, making sure routine property maintenance occurs so little problems don’t turn into big, expensive ones. This assures that your capital investment maintains its value and does not depreciate and become run down before its time.

Collect Rent On Time

One of the worse jobs around is chasing down tenants who are late with their rental payments. Unanswered phone calls and unanswered doors are unfortunately quite common. You know the drill; you knock on a tenant’s door, hearing a TV on in the background and you see an eyeball in the door’s peephole – yet nobody answers. The beauty of having a property manager around is that they can be the bill collector.

Avoid Costly Legal Problems

A single lawsuit can easily wipe out a property owner’s yearly rental income even if the case is thrown out. Lawyers aren’t cheap and many people filing frivolous lawsuits bank on that, knowing many landlords would rather cut a deal and avoid a costly trial. Professional property managers know how to avoid and handle costly legal problems as part of their job.

  

It’s a wise move to hire a professional property management company if you are a rental property owner in San Antonio, so visit our San Antonio Luxury Realty website if you’re ready to get started today.

July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates