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Old 02-01-2018, 12:10 PM
 
170 posts, read 193,917 times
Reputation: 148

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I saw a billboard advertising a new subdivision in North Katy. It is new homes for lease. I went to their website and all you need to be approved is a 500 credit score and a pulse. Okay, that may be an exaggeration, but not by much. It sounds like a bad idea to me. Is anyone familiar with such a concept?
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Old 02-01-2018, 01:24 PM
 
675 posts, read 1,452,778 times
Reputation: 733
Did a quick google search. That's how neighborhoods go downhill, fast. An entire neighborhood with rentals? Ha, no thanks. That's why I would buy somewhere more settled, North Katy is still the wild west with all that available land.
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Old 02-01-2018, 06:06 PM
 
234 posts, read 424,670 times
Reputation: 131
Yes, I saw that too. I am worried about that community next to or part of Marcello/Camillo Lakes by Legend Homes. Worried in terms of what those "ghetto" communities will do to Bethke and the new schools and the surrounding area.
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Old 02-01-2018, 06:37 PM
 
Location: Houston TX
2,441 posts, read 2,520,666 times
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That whole area is a huge mess. Sadly, they are building this new community in the most scenic/nicest part of North Katy. It would be nicer to preserve the existing forest instead of building a new ghetto, but money always wins.
Wow, with credit score 500...
Seems like it will be located right on Bear Creek...but if its rental then you care more about your car, not about a house if it floods.
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Old 02-02-2018, 11:38 AM
 
1,743 posts, read 3,818,989 times
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This is actually a part of Camillo Lakes....same parent company. Without going into too much detail, they have rental communities, low end home communities, and a nicer high end product. I guess you could say they have everything from a Yugo to a Lexus.
There is big business in having a large portfolio of performing rental homes with little overhead (your builders/warranty can do the rental calls)....then you sell the portfolio to Chinese investors for a large profit...and on to the next one.
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Old 02-02-2018, 05:45 PM
 
Location: Houston
5,612 posts, read 4,932,339 times
Reputation: 4553
Purpose-built single family rentals are a product type that's getting hot. I expect we'll see a lot more such developments in the coming years.
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Old 02-03-2018, 08:58 AM
 
1,743 posts, read 3,818,989 times
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The Chinese are buying them up like hotcakes, groupings of 300-400 at a time are common.
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Old 02-03-2018, 06:33 PM
 
Location: Katy, TX
214 posts, read 306,837 times
Reputation: 281
Did you say Trevino gardens or Kashmere gardens ? Lol
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Old 03-08-2018, 06:50 AM
 
3 posts, read 6,319 times
Reputation: 10
Just viewed the area yesterday, rental homes there go from 1500 to 1825 per month. Treviso Gardens, and the area in general looks great. The key to avoiding "ghetto" communities is avoiding Section 8 housing from experience. I currently live at one of Camillo Properties in Houston which is close to Section 8 Housing "did not do my homework" but we have been approved to move to one of the new homes at Treviso Gardens.

Not everyone that leases at rental home communities are "ghetto" but you do have bad apples in the bunch. I'm a 14 year Disabled Air Force Veteran with a Masters Degree who work for the Dept. of VA, and my works for the Lamar ISD.
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Old 03-08-2018, 08:51 AM
 
Location: Houston
5,612 posts, read 4,932,339 times
Reputation: 4553
Quote:
Originally Posted by USAF_Veteran View Post
Just viewed the area yesterday, rental homes there go from 1500 to 1825 per month. Treviso Gardens, and the area in general looks great. The key to avoiding "ghetto" communities is avoiding Section 8 housing from experience. I currently live at one of Camillo Properties in Houston which is close to Section 8 Housing "did not do my homework" but we have been approved to move to one of the new homes at Treviso Gardens.

Not everyone that leases at rental home communities are "ghetto" but you do have bad apples in the bunch. I'm a 14 year Disabled Air Force Veteran with a Masters Degree who work for the Dept. of VA, and my works for the Lamar ISD.
It's totally up to the landlord to decide if they will rent to Section 8 voucher holders.

Anyone with a home in a random subdivision who decides to rent it out can rent to Section 8 renters if they're willing to subject themselves to the paperwork and inspections.
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