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How to rent out a house

2,000 Views | 11 Replies | Last: 2 yr ago by Tibbers
Tibbers
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Looking to rent my home, what is the best way to do this? I'm here in college station in an area apt to rent to college kids.
Red Pear Realty
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AG
We can help you get it rented. Jamie has been a landlord in College Station since 2008 (and got his brokers license doing leasing there) so he's very familiar with the market.

Happy to discuss via PM, email, or text.

Office@MyRedPear.com or 832-491-8000
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
ag0207
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AG
List it on Zillow for rent. We posted ours and had close to 100 people contact us in less than a week.
Tibbers
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ag0207 said:

List it on Zillow for rent. We posted ours and had close to 100 people contact us in less than a week.


Can I use just a standard lease? That's the main hurdle as well making sure I do everything above board and proper and all. Finding people I think will be easy in my location.
Red Pear Realty
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That's crazy! I have never experienced anywhere near that many leads on a rental listing before. What did you do to get those?
Sponsor Message: We Split Commissions. Full Service Agents in Austin, Bryan-College Station, Dallas-Fort Worth, Houston and San Antonio. Red Pear Realty
evestor1
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Disclaimer - I hold a RE license.

I use Facebook marketplace and don't bother with mls bc my rentals are long time rentals. Zillow is good for long term rentals also. My in-laws in New Braunfels get a dozen per day on their Zillow rentals. In Houston I get 2-3 per day on Zillow and 5-10 on Facebook.

If this is a nice house that you plan on selling someday...get a realtor and use MLS. The MLS brings better tenants.
Oogway
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Also--make certain you do not have deed restrictions regarding renting your home. We live in the middle of town and there are deed restrictions for certain streets that allow for renting to families but not multiple unrelateds (can't recall the limit, maybe two? I've posted this info on the Aggieland forum before because one such family in a SWV phase off of Deacon got taken to court over it. IIRC, check with the county courthouse and it will say if that is the case in the official records.

I assume, perhaps incorrectly, that prior to there being many neighborhoods with HOAs that was how some things were enforced.


mazag08
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AG
ag0207 said:

List it on Zillow for rent. We posted ours and had close to 100 people contact us in less than a week.


Wouldn't that tell you that your listing price was likely too low?
ag0207
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AG
We live in a hot market. I have a couple of friends that are in real estate and asked the going rate on rentals as well as looked at current pricing in the area. I looked at comparable rentals that rented quickly and those that were priced on the high end that did not and split the difference.

I used the standard Texas realtors rental agreement but added in a few things on my own.

It is a pain in the rear dealing with applicants. I could have gotten a higher rent but I just wanted the place rented. I got a rent that I was happy with and quality renters. Out of the 100 or so applications I would say you can cut half of them pretty quick (criminal records, income not sufficient for the rent price, poor payment history).

Good luck!
jagvocate
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AG
BACKGROUND CHECKS AND REFERENCES OF REFERENCES ON RENTERS

everything else is just details
Tibbers
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ag0207 said:

We live in a hot market. I have a couple of friends that are in real estate and asked the going rate on rentals as well as looked at current pricing in the area. I looked at comparable rentals that rented quickly and those that were priced on the high end that did not and split the difference.

I used the standard Texas realtors rental agreement but added in a few things on my own.

It is a pain in the rear dealing with applicants. I could have gotten a higher rent but I just wanted the place rented. I got a rent that I was happy with and quality renters. Out of the 100 or so applications I would say you can cut half of them pretty quick (criminal records, income not sufficient for the rent price, poor payment history).

Good luck!


Cool, cool. Mainly going to be renting to college kids. So a simple background check, renters' history, referrals and most likely guarantors from parents will be vital. Do you all charge an application fee? That might weed out some of the bad as well. Also, what's the best service for obtaining background checks and credit history checks?
ag0207
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AG
On Zillow people looking to rent can fill out an application that includes a credit & background check through Zillow. They pay a onetime fee and that application is good for 30 days and they can apply to an unlimited number of properties on Zillow.

If you are looking to do this yourself then yes you can charge an application fee. We used the Zillow service which is free for landlords.
Tibbers
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Excellent, thank you!
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