Are you considering investing in real estate this year or perhaps a few years from now?

When done carefully and thoughtfully, investing in rental properties can become a lucrative business and a stable investment. It’s no surprise that many people are looking into buying a second home and then reselling it or renting the property out to other people.  However, it’s important to weigh things out before making an investment in real estate, like making sure it’s the right time for you, personally and financially, and for the housing market in general.

Are you ready to invest in real estate?

Do you have the time? Can you afford the downpayment, monthly mortgage, and maintenance costs? 
Real estate is expensive. You need to make sure you have an adequate cash reserve to pay for and manage the property, especially in terms of emergency repair expenses and other maintenance costs.

What’s happening to the rental market?

According to the Houston Association of Realtors’ July 2022 Rental Market Update, single-family rentals continue to provide a critical alternative to would-be Houston homebuyers. The average rent climbed to an all-time high of $2,296, showing a 6.2% increase compared to last year’s $2,162.

Furthermore, a survey by Zumper shows that short-term rentals are in demand to accommodate a temporary gap in housing (35.2%), and work travel (21.3%). The survey also showed what short-term renters look for when looking at rental properties. The most important to them were Wi-Fi, a fully equipped kitchen, and an in-unit washer and dryer; while the lowest in rank were office spaces, a backyard, and pet-friendly policies.

The best places to buy investment property in 2022

It’s important to note that location is a crucial factor in real estate investing. So, if you’re looking for the best places to buy investment property in 2022, always conduct ample research on the area where you would like to buy your next property.

Apogee Properties is a full-service property management company in Houston providing services in the following areas: 𝘏𝘰𝘶𝘴𝘵𝘰𝘯, 𝘎𝘢𝘭𝘭𝘦𝘳𝘪𝘢, 𝘔𝘦𝘥𝘪𝘤𝘢𝘭 𝘊𝘦𝘯𝘵𝘦𝘳, 𝘔𝘶𝘴𝘦𝘶𝘮 𝘋𝘪𝘴𝘵𝘳𝘪𝘤𝘵, 𝘚𝘱𝘳𝘪𝘯𝘨 𝘉𝘳𝘢𝘯𝘤𝘩, 𝘉𝘦𝘭𝘭𝘢𝘪𝘳𝘦, 𝘏𝘦𝘪𝘨𝘩𝘵𝘴, 𝘔𝘦𝘮𝘰𝘳𝘪𝘢𝘭, 𝘗𝘦𝘢𝘳𝘭𝘢𝘯𝘥, 𝘚𝘶𝘨𝘢𝘳𝘭𝘢𝘯𝘥, 𝘊𝘺𝘱𝘳𝘦𝘴𝘴, 𝘑𝘦𝘳𝘴𝘦𝘺 𝘝𝘪𝘭𝘭𝘢𝘨𝘦, 𝘔𝘪𝘥𝘵𝘰𝘸𝘯, 𝘙𝘪𝘤𝘦 𝘝𝘪𝘭𝘭𝘢𝘨𝘦, 𝘜𝘱𝘱𝘦𝘳 𝘒𝘪𝘳𝘣𝘺, 𝘋𝘰𝘸𝘯𝘵𝘰𝘸𝘯, 𝘒𝘢𝘵𝘺, 𝘔𝘪𝘴𝘴𝘰𝘶𝘳𝘪 𝘊𝘪𝘵𝘺, 𝘚𝘩𝘢𝘥𝘺 𝘈𝘤𝘳𝘦𝘴, 𝘞𝘦𝘴𝘵 𝘜𝘯𝘪𝘷𝘦𝘳𝘴𝘪𝘵𝘺, 𝘍𝘰𝘳𝘵 𝘉𝘦𝘯𝘥, 𝘒𝘪𝘯𝘨𝘸𝘰𝘰𝘥, 𝘔𝘰𝘯𝘵𝘳𝘰𝘴𝘦, 𝘢𝘯𝘥 𝘚𝘱𝘳𝘪𝘯𝘨.

In this article, we’ll feature Downtown Houston—the largest business district in Houston and the original founding point of the city of Houston.

About Downtown Houston

Since its founding in 1836, Downtown Houston has been the city’s preeminent commercial district. The bustling district is filled with residential and commercial skyscrapers, offering a unique set of amenities for young professionals, empty nesters, and everyone in between.

If you are a property owner in the epicenter of the 4th largest city in the US, know that downtown Houston is home to nine Fortune 500 corporations and about 3,500 businesses with more than 150,000 employees. Residents enjoy easy access to key business, employment, retail, and entertainment centers. Located at the heart of Houston’s Inner Loop, rent will be a bit higher than Houston’s average.

Why Downtown Houston

Downtown Houston is a diverse, urban hotspot for young professionals, empty nesters, and everyone in between. Situated among skyscrapers, you will find some of the city’s best dining and entertainment, a booming arts district, and accessibility to three major sports stadiums. Being this close to the action means rent will be a bit higher than Houston’s average.

Zumper: Average Rent in Downtown Houston as of September 2022
$1,579 – Studio apartment
$2,132 – 1-bedroom apartment
$3,097 – 2-bedroom apartment

Zumper: Average Rent in Houston – Neighborhood Comparison for 1-bedroom apartment
$1,397 – Great Uptown
$1,523 – Washington Ave – Memorial Park
$1,530 – Greater Heights
$1,579 – Memorial
$1,619 – Midtown
$1,775 – Downtown

Zumper: Average Rent in Houston – Neighborhood Comparison for a 2-bedroom apartment
$2,020 – Great Uptown
$2,075 – Washington Ave – Memorial Park
$2,250 – Greater Heights
$2,261 – Memorial
$2,161 – Midtown
$2,604 – Downtown

Zumper: Average Rent in Houston – Neighborhood Comparison for a 3-bedroom apartment
$2,800 – Washington Ave – Memorial Park
$2,916 – Greater Heights
$2,930 – Memorial
$2,982 – Midtown
$3,009 – Great Uptown
$3,162 – Downtown

Downtown Houston Property Management

Know the market in your chosen area before jumping right into property investments. You need to take your time to get to know the market area, the cost of becoming an investor, renter-occupied households, the landlord/tenant laws, the neighborhood, existing amenities, and so on in order to make your future property more desirable.

At this point, we understand that, out of all the buzz and complications of rental property investing, you only want to become a successful Downtown Houston rental property owner. Part of that outlook is the question of whether to self-manage or hire a property management company in Texas. 

Our answer depends on your circumstances. If you want to know if self-managing is for you, we have a separate article for that: When to Self-Manage a Rental Property. We have included in that blog post questions that you can ask yourself whether or not self-managing is the right one for you, common mistakes when self-managing, and, of course, the best time to hire a property manager or management company.

Why Choose Us as Your Downtown Property Management Texas Company

• We have proudly served the Houston area for over 10 years. 
• We have a team of local property managers, maintenance staff, and licensed vendors to address day-to-day demands and maintenance issues. 
• We have standard resident criteria and application processes to find the right tenants for your property. 
• We are up to date with rental market trends and landlord-tenant laws. 
• We assess the market and neighboring properties in order to determine the right and most competitive rent. 
• We put your financial records in order so you can maximize the tax effectiveness of your property.

Work with Apogee Properties

Apogee Properties is Houston’s Premier Property Management Company. We work and live in Houston, and our property managers are local. We’ve been in business for more than a decade, providing comprehensive property management services in the Houston region, ranging from a studio condo to a multi-family million-dollar estate. Contact us to learn more about our property management services, and what we can do for you and your rental property.

Get your property managed today!