Leasing a rental house isn't just about showing it to an interested renter and handing over the keys. You can do that if you want, but as any seasoned landlord would tell you, tenant screening and preparing lease agreements should not be skipped.
All in, these tasks can be overwhelming, particularly if you're busy with other activities, or have multiple rentals. This is why an increasing number of property owners in Dallas and Fort Worth, TX, are turning to a leasing only service.
Taking a hands-off approach is a smart decision, but a lot is pegged on the competence of your leasing agent. Here's how to go about finding the best agent.
License
If you're a DIY or private landlord in Texas, you don't need a license to manage your property. However, if you're outsourcing your functions to another party, such as leasing only service or a full-service property manager, they need to have the appropriate licenses as required by Texas law.
As such, the first step when considering a leasing agent is to ensure they have a valid license. This is especially important if the agent will be taking security deposits and rent payments from your tenants.
Once you've received the agent's license details, verify them with the issuing authority. You don't want to fall victim to a person masquerading as a leasing agent.
Location
A leasing agent who's licensed in Texas is free to work anywhere in the state. However, be wary of hiring an agent who doesn't seem to focus on a certain location, in this case, Dallas or Fort Worth.
The farther away an agent is from the location of your property, the more inefficient they're likely to be. If they're based in Houston, for example, it means they'll have to make a long commute to come and conduct a showing.
On the other hand, a local leasing agent will always be available on short notice and ready to jump in when duty calls.
Range of Services
When you're hiring a leasing only service, you know that the scope of services is limited. However, the range of leasing services can vary from provider to provider.
Some professionals only handle matters relating to drawing lease agreements. Other agents offer a wider range of services, including property marketing and even tenant evictions.
The cost of the service may vary depending on the range of services, but it's in your best interest to ensure you're working with someone who can offer you more, just in case you need those extra services.
Find the Best Leasing Only Service
Leasing management is an important part of your job as a landlord. Outsourcing it to a leasing only service is a smart move as it frees up your time and you don't have to pay as much as you would if you had a full-service management company.
At PMI DFW Properties, we can handle your leasing needs in Dallas/Fort Worth, but we're also well-equipped to offer a full-service property management package should you need it.
Contact us to schedule a consultation.
