Single-family home property management is not anywhere near so easy as it looks. If you are a property owner in the area north of Dallas who is looking to rent out a property for the first time, perhaps having received it as an inheritance, there is a lot more to it than meets the eye. Certainly, it can be very profitable because provided you get it right you will have a steady rental income each month while at the same time you have an asset that, over time, will grow in value. So there is a lot to be said for becoming a Texas landlord. Indeed, Texas laws are very pro-landlord, so this is a big plus as well.
However, as with everything in life here in the Lone Star State, there is a downside, and that is that there is a lot more to single-family home property management than just popping an ad in the Dallas News. First you have to ensure that the property is in a good enough condition in order to rent it out in the first place. Apart from the fact that nobody is going to want to live in a home that is dirty and decrepit, there is also the fact that a city inspection is required before occupancy. Not that we are suggesting anyone would deliberately let a property in poor condition, but it has to pass the inspection. If you are an investor, you will be aware of that, but if you have inherited a property it may well need work to bring it up to standard. At North Texas Property Management, we can advise you on this.
The You Have To Advertise For A Tenant
Then, of course, you need to advertise the property and interview tenants. If you have never done this before, how do you know what to ask them? How do you find out if they are capable of paying the rent on time every month? What else should you look for in a good, reliable tenant? What do you know about lead-based paint disclosure? What do you do about a pool liability waiver? What is a pool liability waiver, anyway? What do you know about the Texas Property Rental Codes? Yes, there is a lot of legal stuff involved.
Assuming that you have managed to get your head around all that little lot and you now have a tenant installed who seems, on the face of it, suitable, what are you going to do when the said tenant phones you at two in the morning because the alarm system is going off and he/she cannot stop it, and all the neighbors are going nuts?
Oh yes, there is a lot more to single-family home property management than meets the eye. This is why it makes much more sense to hand all that little lot over to us to deal with. Then you can do what you always wanted to do in the first place, and that is just to cash the rental check every month. In summary, if you own or want to own a rental property in the North Dallas area, give us a call. Our property managers can walk you through how to do it, right.