Did you know that because of events like COVID and economic uncertainty, rentals in the Dallas/Fort Worth area have increased almost 20%? If you are thinking about buying investment properties to rent, or renting out that house you recently inherited, there has never been a better time than right now.
But, if renting was so easy, why are there so many horror stories of tenants taking advantage of landlords, squatters, and more? How do you avoid the nightmare and ace the rental leasing and home investing game?
We have you covered.
We have created a complete guide for you on rental leasing made easy, things to avoid, and how to boost your profitability.
Do Your Research for Houses in the Area
You are leaving money on the table if you don't do this step. The Dallas/Fort Worth area is booming. We can't stress how hot the market is right now.
There are so many people moving in from out of state, looking for more space, better weather; you name it, they want it.
Do your research to see what the houses around you are renting for. Also, look at what a mortgage is going for as well. You want to be as competitive as you can, so that your property is an attractive option, while also making a profit.
It is also very helpful to figure out your budget, so you know the exact costs of maintenance, mortgage, and interest your must pay on your house.
Have a Rock Solid Rental Lease
You can't have a smooth rental leasing journey without a rock-solid lease. You want this lease to be iron-clad and be able to account for any issue that might come out.
You need to clearly outline the lease terms, dates, expectations, and any prohibited items. You need to cover any fees that may be incurred, along with the consequence of late payment of those fees.
You should have a lawyer look over any contracts and leases that you develop to make sure that you aren't missing anything important.
Use a Property Management Service
Honestly, what is the best kept rental leasing secret? Use a property service! This will make your investment property upkeep and rental leasing so much easier.
As one of the premier property management services in the Dallas/Fort Worth area, you can rely on our expertise to take care of everything for you. This includes screening tenants, payments, managing property upkeep, and more. Don't stress about anything more than you absolutely have to with us!
Want to Learn More Tips on How to Make Rental Leasing Easy?
Rental leasing can be intimidating, but that should not stop you from capitalizing on this town's hottest market. With the help of an experienced property management firm, you can rake in the profit worry-free.
Reach out to us here at the HomeRiver Group. We are experts in Dallas/Fort Worth real estate and can help guide you through all your real estate needs.
If you want to receive a quote or more information about how we can help with your properties, be sure to check out comparable rentals on our website.