Call Us: 817-886-9220

Fort Worth Property Management Blog

Renting Your House In The Current Fort Worth Market
fort worth property management companies

Currently, the demand for single-family rental properties across North Texas is not only high but also growing. Specifically, in the Dallas-Fort Worth metroplex, renter-occupied properties now account for more than 40% of total occupied units. At the same time, rent prices for single-family properties increased more than 10% year-over-year in 2020, as reported by CoreLogic. The factors behind the surging demand for such properties include, among others, a growing population, a thriving economy, and high real estate prices in the Dallas-Fort Worth metroplex. With that in mind, here are some tips on how to rent out your house in the current Fort Worth market.

Ensure Your Property is Rent-Ready

To protect your investment by renting to responsible tenants, you’ll first need to make your rental property attractive to prospective renters. Some of the things you can do to achieve this goal include understanding your local zoning laws, scheduling professional property maintenance, and upgrading the property to make it aesthetically pleasing and comfortable. Essentially, you should check everything from the foundation to the roof to make sure the property meets your state and municipal housing codes, and that all fixtures and appliances are in good working condition.

Have A Good Insurance Policy

When it comes to rental property, home insurance offers limited coverage. To protect yourself adequately against the risks associated with owning a rental property, you should invest in some landlord insurance, too. Landlord insurance combines liability and property protection into one policy. The liability portion covers third-party liability claims related to bodily injury that occur on your rental property, as well as the resulting legal costs up to the specified limit. The property protection portion, on the other hand, covers any physical property related to your rental property. For instance, in the event a storm damages your rental property, your policy can help pay for the resulting repairs.

Stage Your Rental Property

Once your single-family rental property is up to code and you’ve fixed any known issues, the next step is to prepare it for viewing. Ideally, you should style the inside of the property with neutral fixtures and colors to accommodate a wide range of design tastes. For maximum impact, enlist a good property management company to stage the property and set the mood. Remember, the “feel” and condition of your rental property will affect its desirability.

Start by taking high-quality photographs of each room in your rental property. Then, write a creative rental ad aimed at your ideal renter. To help prospective renters make an informed decision, your listing should capture every key detail about your property including:

  • Location
  • Rental price
  • Available amenities and utilities
  • The size of the property
  • Duration of the lease term
  • Your contact details

Once your listing is ready, you can advertise your property on various platforms, both paid and free, including:

  • Online classified ads
  • Social media
  • Rental apps
  • Community bulletins
  • Listing the property with a reputable realtor

Conclusion

To rent your house in the current Fort Worth market, ensure your property is rent-ready, purchase landlord insurance coverage, stage your property, and advertise your property. Want to spend less time and earn more from your rental property investments? Then let the experts at Specialized Property Management Fort Worth do all of these things and more. We work hard to help your rental property thrive in any situation. For more information or to get a quote, call us at 817-886-9220 or contact us online.

Latest Articles