Browsing the archives for the Expired Listings category.

Expired Listing? Consider Rental Income

Expired Listings, Property Management

Welcome to East Dallas Residential! This is my first official posting to my new blog site.

To give you a brief overview, I am the 4th generation in a family of Real Estate Investors. I have continued the tradition and work in the family business of Residential Sales, Leasing and Property Management. My father is the founder and broker of our company, with over 30 years of experience in the Real Estate industry. For the last 8 years, I have been helping to run his management office as a licensed Realtor. I am actively involved with the DFW Metro Tex Board of Realtors and I am a member of the Leadership Committee, YPN: Young Professionals Network, and the Leasing and Property Management Committee. And next year, I will be the President, of the Dallas NARPM chapter. It is the local chapter for the National Association of Residential Property Managers. I believe in Experience, Education, Integrity and Service.

Here in Dallas we have continued to out perform the national average. Like any major city, we have areas that have sustained their values, and areas in which values have declined. It’s all a matter of location. There are pockets where homes sales are still HOT … and others, that just are NOT selling much inventory.

Property Owners who are facing a slow sale market or who have a home located in an area where values have declined, may want to consider holding onto their home as an investment, and re-listing their home for sale when the market turns around. If they are relocating or have the ability to move, they can use their home as rental property, generating some income to contribute towards their mortgage, taxes and insurance payments.

I am willing to bet most people are hesitant to lease their home, especially if it is their primary residence. Many have heard the horror stories of damage done by neglectful residents or are wary of midnight maintenance calls. However, a Professional Property Management Company can take the pain out of rental property.

It is important to interview professional management companies. There are many Realtors in our industry jumping into the management business with little (or no) experience in managing rental property. There are Texas Landlord Laws, outlined in Texas Property Code, which regulate habitability, safety, maintenance obligations and trust accounting, just to name a few areas! In addition, there are tax reporting requirements at the end of every year. It is important to find an experienced manager, in order to limit personal liability.

We cooperate with Realtors in our area. We list ALL of our Rental and Sale listings in MLS (Multiple Listing Service) and offer co-broker fees, competitive with market rates, to agents who bring us qualified residents.

If you are working closely with a Realtor, I encourage you to ask them about your options. If you are looking for someone with experience in Residential Leasing and Property Management, please take a moment to read about me.

In addition, if you are a Realtor looking to offer your client an alternative solution, we offer a referral fee to Realtors and Brokers who refer us to their clients. If your client hires us for our Property Management and Leasing services, we protect your agency relationship, and when your client is ready to re-list their home For Sale, we refer them back to you.

Feel free to contact me with any questions or comments regarding information in this post, or my services. Thank you for visiting!