Wednesday, December 30, 2020

Testimonial - McKinney

I'm honored to have an opportunity to work with such a high-caliber and professional landlord on a beautiful property. Thank you for your trust!

“I’ve worked with several real estate agents in the past and Mark Hancock went way above my expectations for renting my townhouse. Extremely responsive, hands-on, very helpful… excellent service and high level of integrity!”
Randy Figueroa, Frisco, TX

#DFWmark #REALTOR #testimonial #review #lease #landlord #rental #investment #Frisco #CollinCounty

Tuesday, December 29, 2020

Why Landlords Should Want Housing Choice Tenants

Here are some bullet points from “5 Reasons Why Section 8 Tenants Are the Best Renters” 
by Shae Bynes

  • For investors, turnover and vacancy are the biggest expenses. Housing Choice program minimizes turnover and vacancy.
  • The Housing Choice program is also Housing and Urban Development, Section 8 (HUD Sec 8). 
  • The majority of Section 8 (Sec 8) vouchers are for families with children.
  • Section 8 renters typically stay for five to 20 years in the same location. For landlords, this means little to no churn, very few (if any) empty months with no income, fewer listing fees, no extensive remodels, and more savings over time.
  • Most Sec 8 tenants have no criminal background. They merely want to live in a quality house in a nice area and rent from a good landlord.
  • “Often, a housing voucher is a tenant’s golden ticket to a neighborhood free from drugs, gangs, and other negative influences. A gateway to a better quality of life for the entire family. So, when they move into one of my houses, they usually stay for many, many years.”

  • HUD promises on-time payments
  • “Payments come on time every single month via direct deposit into your business checking account. HUD doesn’t give excuses about late rent. The money is there. In fact, their housing assistance payments have been consistently funded in full for decades and hold billions of dollars in reserves.”
  • Housing Choice vouchers - “Housing choice vouchers allow a tenant to live anywhere that accepts vouchers. This makes up the bulk of the Section 8 program. Only households with a monthly income less than 50 percent of the median income for the area in which they reside can apply for the program.”
  • “HUD sets and maintains median income values for each region of the country, and the data can be accessed on HUD’s Office of Policy Development and Research website. Vouchers can be used for multiple-unit housing, single-family homes, or townhouses.”

  • Landlords Receive Protection from Tenants’ Financial Hardships
  • If a tenant goes on unpaid medical or maternity leave from work, HUD covers the payments while they recover. Landlords won’t face a need to evict or have an unexpected vacancy as could arise with other tenants in the same situation.
  • HUD protects the landlord’s near-term cash flow. It also helps the tenant through a tough time.

  • Section 8 Rents Can Be Higher
  • HUD has a predictable and reasonable “fair market” rate based on zip codes. Check your property zip code at their documentation system
  • Tenants pay a fixed amount of their income and HUD pays the difference. This means Sec 8 tenants can afford more expensive rental properties in upscale zip codes. Sec 8 tenants help keep the rental comps high rather than dragging them down. Meanwhile, property appreciation equally matches the primary market.

  • Long Section 8 Waiting Lists = Short Vacancies
  • Once a house is approved for Sec 8 habitation, it can be filled quickly by a qualified tenant at the “fair market” rent.
  • There is a ready, willing and able list of Sec 8 tenants ready to move where they are welcome.
  • “Keep in mind that public housing authority social workers also conduct thorough screening of all waiting list candidates. And it doesn't stop there—if you have an issue with a tenant or family member, you have extra recourse outside of eviction. In addition, you can contact the social workers directly to mediate any issues with a tenant who's stepping outside of the lease agreement.”
  • Landlord requirements: Property must be inspected for basic habitability and approved for the program by HUD Real Estate Assessment Center (REAC) employees. There’s an annual inspection thereafter. The tenant is also motivated to help keep the property in habitable condition and keep their “golden ticket.”

Wednesday, December 16, 2020

Have a Safe Holiday Season!

December brings the longest nights. It’s a festive time in most households – even if we change our traditions and plans this year. While we’re at home, we need to take precautions to stay safe into the new year.
According to the National Fire Prevention Association (NFPA), about half of the nation’s home structure fires occur between November and March. Candles start more than half of decoration-related fires in December while January is the peak month for both fires and fire-related deaths. Let’s stay safe!

Water Indoor Trees
Without water, natural trees become dry and a fire hazard. The heat from decorative lights is enough to ignite a dry tree. Keep all trees away from heat sources. Bend needles to ensure it’s not too dry.
Don’t allow your pets to drink the water from the tree stand. Tree preservatives will injure your pets. Wrap a tree skirt over the tree stand to prevent a visit to the vet. Artificial trees are a good alternative.

Poinsettias Are Toxic

While eating a single poinsettia leaf probably won’t kill children or pets, it can make them sick with a variety of unpleasant symptoms. Keep the plant out of their reach to keep the holidays happy.

Detect Carbon Monoxide
Carbon Monoxide is an odorless, colorless gas. It’s produced whenever fossil fuel is burned. It causes sudden illness and death. It’s preventable with some caution and a detector.
Inexpensive carbon monoxide detectors are available online and at home improvement stores. There are battery-powered, plug-ins and hardwired detectors. Install at least one on each floor of your home near sleeping areas. Place them waist level or higher. Place them 15-20 feet away from natural gas appliances and equipment. Consider placing one in the garage.
Ensure the chimney flue is open on the fireplace before ignition. Never use portable generators or outdoor heaters inside an enclosed space. Don’t run an automobile in a closed garage.

Open Fire Guidelines
Cooking accounts for 20 percent of all holiday-season fires. Don’t leave items unattended on the stove or place flammable items on counters within three feet of flames.
Candles make the season bright but need to be attended or extinguish. Also, place candle holders on heat-resistant objects like stone or tile hot pads to avoid conductive burns and fires. Use battery-powered candles rather than open flames.
Unattended candles cause 20 percent of home candle fires. Half of home fire deaths occur between the hours of 11 p.m. and 7 a.m. (NFPA)
Creosote buildup in a wood-burning chimney is flammable. Have the fireplace cleaned and checked. Local firefighters often provide this service as a side job to make holiday money. Use seasoned (not green) wood to reduce creosote buildup. Ensure no flammable items are within three feet of the fireplace. It is best to extinguish the flames – even gas-only - before going to bed.

Ensure Decorations Don’t Short
Check electrical decorations before use to avoid both shock and fire hazards. Look for exposed wires, cracked casings, loose connections and damaged fuses. An electrical short can create a fire. Likewise, cracked and overloaded electrical sockets and circuits are common causes of holiday fires.
Only have one high-wattage item plugged into an outlet. Never run electrical wires through standing water. All electrical decorations should have a testing laboratory label. Don’t hang “indoor only” lights (marked with a green UL tag) outside. Outdoor lights have a red UL tag. Battery-operated lights are a good alternative but must be inspected too.

Hire a Driver
There is never an acceptable reason to drink and drive. Hire a driver before you leave. If not, hire one after you drink. Some towing companies offer a service to get both the driver and the car safely home.

I’ve Got Your Six!

Mark M. Hancock, GRI, MRP, AHWD
REALTOR, New Build certified

Welcome to the DFWmark Blog!

Welcome to the DFWmark Blog! This is a collection of content by Mark M. Hancock, a REALTOR with Keller Williams North County in Celina...