Archive for News

Homeowner Associations (HOA’S)

Under the Texas Property Code there are two kinds of property owner associations, namely Condominium Associations and Homeowner Associations. We use the word “association” here for both.

Protea Real Estate has managed both kinds of associations for many years. Protea also manages apartment complexes. There are substantial differences between property management of those and property management of associations.

home owner association - HOAWith rental property management the apartment management company deals with an owner and the owner’s residents. The apartment management company is authorized by the owner to act in all respects on its behalf, directly with its residents, and has the right to terminate a resident’s lease if the resident is in default.

As an example, imagine if resident Smith in an apartment complex plays really loud music into the early hours of the morning and refuses to stop doing this when demanded to do so by property management. Property management can then terminate Smith’s lease and have him evicted. Read More→

The Dallas Real Estate Market

Dallas is growingDallas Area is Booming

It is Fall 2014, the weather is lovely, the Dallas area is experiencing boom times, and it is likely that these boom times will continue for some years to come. New apartment complexes are springing up all over the area. Older complexes are being renovated and new office buildings are coming out of the ground in several areas. In downtown Dallas new hotels, condominium high-rises and parking buildings are planned, and new retailers are about to open. Read More→

Buying Commercial Real Estate

Tips on purchasing commercial real estateThe best advice we can offer to potential buyers of commercial real estate is to be very very diligent in investigating the real estate concerned. Inexperienced buyers, especially those from out of state who have no local knowledge, tend to be swayed by impressive brochures and projections made by sellers or their agents. Often the prices offered are enticing when compared to the prices of similar properties in the areas in which the purchasers reside.

At Protea we have time and time again dissuaded prospective clients from purchasing apartment complexes in the Dallas Fort Worth area. Because of our local knowledge, we knew that the properties were overpriced, in high-crime areas or could not possibly achieve the results projected in the brochures our clients had received. Read More→