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| Buyer
Questions & Answers |
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| Renter
Questions & Answers |
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What
are deed restrictions?
The City of Houston and many other cities in the Metropolitan
area have no zoning. Many area communities rely instead on
deed restrictions to protect property values. A deed restricted
neighborhood typically has rules governing things like boat
or RV
storage, architectural restrictions, locations for satellite
dishes and other items of concern to property owners. To find
out what
the deed restrictions are for a particular subdivision, contact
the County Clerk for that property. You will need the legal
description of the property and the name of the subdivision
to request a copy of the deed restrictions. Counties usually
charge
a fee for this service.
What is the role
of a title company?
The role a title company serves in real estate transactions
is the handling of escrow accounts. When opening an escrow,
a seller
and a buyer of a piece of property establish certain terms and
conditions to facilitate a transfer of ownership of that property.
Texas requires that an escrow officer be licensed. An escrow
officer's duties are: 1) Open orders for title insurance; 2)
Keep both
parties informed of the progress; 3) Obtain approvals from the
buyer on past control reports, repairs, etc.; 4) Receive funds
from
the buyer for earnest money; 5) Record deeds and any other loan
documents required; 6) Prorate and adjust insurance, taxes,
rent , etc. 7) Prepare final statements for each party indicating
amounts necessary to close escrow; 8) Disburse funds for title
insurance, recording fees, real estate commissions, clearance
of liens, etc.
What can I expect
to pay in property taxes?
The County Appraisal District places a value on your property
which should equate to fair market value. In turn, all taxing
authorities use this value to assess taxes. The taxing authorities
are: 1) School Districts; 2) The County; 3) City or MUD
(Municipal Utility District). Tax Rates per $100 for Harris
and surrounding counties are as follows:
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Harris $.3998 |
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Brazoria $.3620 |
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Fort Bend $.4933 |
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Montgomery $.5404 |
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Galveston $.6174 |
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Waller $.6992 |
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What is a Homestead
Exemption?
The Homestead Exemption is a tax exemption made by the Central
Appraisal Districts within each county of not less than
$3,000* of the assessed value of the residents home. Another
$5,000* is exempt from the assessed value of the home by the
school district. All home owners in Texas can claim a yearly
exemption of up to 20% of their properties total assessed value.
Further Homestead Tax Exemptions and School District Tax Exemptions
are given to people who are at least 65 and to the
disabled. To qualify, on or before January 1st of each year,
the homeowner must have title to their property or possess a
signed
purchase agreement. All Texas homeowners who physically live
on their property are eligible for a tax exemption called the
Homestead Exemption. The Homestead Exemption is given by the
Central Appraisal District for each county to homeowners
who qualify with the proper paperwork. Disabled Texans and those
over 65 get additional exemptions. Contact the Central
Appraisal District for your county to find out how much of the
assessed value is exempt from property taxes.
What is Home
Equity Lending?
On November 4, 1997, voters in the state of Texas opted for
the right to borrow against the equity in their principle residence.
Typically, a homeowner may borrow up to 80% of their property's
fair market value, less all existing mortgage liens. Generally,
interest paid on loans up to $100,000.00 is tax deductible.
(Consult your tax advisor for your particular situation.) Texans
have
the right to borrow against the equity of their home. The interest
paid on such loans can be tax deductible. Consult your
mortgage broker, your banker, your tax advisor and your realtor
for more information.
What is a Municipal
Utility District (MUD)?
A MUD is in an unincorporated area within a county that supplies
infrastructure such as water, sewage treatment, streets,
lighting, parks and drainage. There are over 400 MUD’s
serving the Houston area. The tax rate depends on the amount
of bonds
insured to operate the MUD and the number of property owners
located in the MUD. As a general rule, older subdivisions are
completely built with both retail and residential properties
have lower taxes.
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What is available
for lease in and around Houston?
Nino & Associates Realtors work with over 3,000 apartment
communities through out Houston and surrounding areas. As members
of the Houston Association of Realtors we can also show you
Townhomes, Condominiums, Duplexes, Highrises, Loft and Single
Family Homes through the Multiple Listing Service. Occupancy
rates are high for both apartment communities and individually
owned homes. Make an informed decision quickly by utilizing
one of our real estate professionals at no cost to you. We have
all your leasing options covered!
What are typical
lease terms?
Most of the apartment communities offer a six (6) month and/or
twelve (12) month lease term. Three (3) month leases are
offered at a select few properties at a premium. Month-to-Month
furnished units are available through Nino Corporate Lodging,
Inc. throughout the Houston area. Townhomes, highrises, duplexes
and single-family homes usually will require a twelve (12) month
lease.
How much can I
expect to pay for rent?
Prices will vary greatly depending on the location, amenities
and age of the property. Fully furnished Nino corporate apartments
on average range from $71-$82 per day for a 1/1 and $88-$107
per day for a 2/2. Residential unfurnished apartments on average
range from $750-$1500 per month for a 1/1 and $1150-$2000 per
month for a 2/2. (These prices are an estimated average price
range and subject to change).
How much are
rental deposits and Pet deposits?
Rental deposits are due upon processing of Rental Application,
which generally includes credit/rental and criminal background
check. A nonrefundable Application Fee is generally $25-$45.
The average rental deposits are listed below and will vary
according to the age of the property and amenities offered.
Apartment Rental Deposits:
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One-bedroom
$200-500 |
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Two-bedroom $300-500 |
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Three-bedroom $400–600 |
Single Family/TH/Condo/Highrise Rental Deposit: Equal to one-month’s
rent and paid to the Owner of the property, NOT
the Listing Agents Realty Company, unless they property manage
it.
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Pet deposits
will range from $400-$800 per pet with usually half being
non-refundable. Some apartment
communities charge monthly pet rent in addition to your
apartment rent. Many homeowners/landlords and apartment
management companies will accept a pet of 20 pounds or
less. Pet policy varies at each property, with aggressive
and larger
pets being more difficult and expensive to accommodate. |
What appliances
are typically included with a unit?
Most apartments will include refrigerator, stove, oven, dishwasher,
and garbage disposal. Some may include washer/dryer or connections,
microwave and ceiling fans. In single-family homes, duplexes,
townhouses/condos the appliances will vary
depending on what the homeowner has chosen to leave in the rental
unit. Most single-family homeowners do not supply
washer/dryer or refrigerator.
What do utilities
coast including deposits?
With few exceptions, the resident will pay for electricity.
There are several power providers to choose from and compare
rates
at through: www.powertochoose.org.
Most power companies will require 4 business days to connect
service.
The majority of apartments/condos/townhomes/single family homes
in Houston require the resident to pay their own electricity.
In order for service to be connected:
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Pay deposit
equal to 2 months average billing depending on location. |
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Deposit may be waived
with a Letter of Credit from your current light company. |
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Deposit may be waived
if someone co-signs for you who are presently using Reliant
Energy. Reliant Energy recommends
three-business days notice or more to connect (or disconnect)
service. |
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CenterPoint
Energy Entex Gas
(713) 659-2111 or 1-800-752-8036
www.entex.centerpointenergy.com
Most apartment management companies pay the gas. Privately
owned residences usually require the tenant to pay for
water and
garbage. You will need to contact the city and/or Municipal
Utility District (MUD) for this service. For City of Houston
water
service call 713-371-1400. |
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City
of Houston Water Department
713-371-1400
www.houstonwaterbills.org
The water bill includes water, sewer, and trash pickup.
It is billed per thousand gallons. The first thousand
gallons are
approximately $10.00, the price goes up after the first
thousand. |
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Southwestern
Bell Telephone
(713) 638-7000, 1-800-464-7928
www.sbc.com
When registering for your telephone activation, you will
need to supply your social security number, driver’s
license number,
place and length of employment and previous address. You
also have the option of bundling your home phone service,
cell
phone service, high speed internet service, and satellite
TV service all through Southwestern Bell on a single bill. |
What if I need
to rent furniture?
Several furniture companies offer different specials through
our company. On average, 1-bedroom apartment package prices
start
at $150 per month and 2-bedroom prices start at $180 per month.
There is a minimum 3-month lease required with deposits
equaling 1 month’s rent. The average delivery charge is
$85- $100.
Who may I contact
for information about a lease or file a complaint about an apartment
or management company?
There are multiple resources for assistance, a few are:
The Houston Apartment Association may be reached at 281-933-2224
www.haaonline.org
The Texas Attorney General’s Office for an overview of
tenant’s rights at 713-223-5886 or 1-800-621-0508
www.oag.state.tx.us/AG_Publications/txts/tenant.shtml
www.texaslawhelp.org
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