Updated about 4 years ago on . Most recent reply
New to Real estate and land lording DFW area
I have a 3/2 property rented out with the help of my agent last year. It is the time of the year to renew a lease for my tenant in August.
I listened to one bp podcast to sign up for the #PRO membership and get a free lease agreement form. I live in the #DFW-area, and can someone guide me through what to do?
Can you also advise me on how to increase the rent? (Current rent =$1500).
Also, do I have to do anything to the existing rented as far as background checks?
Thank you in advance for your great tip.
Most Popular Reply
#2 Real Estate Agent Contributor
- Real Estate Broker
- Coppell, TX
Actually the TAR (Texas Association of Realtors) and TAA (Texas Apartment Association) forms are copyrighted and for Realtor or TAA member use only. It says that on the form. If you use these and you are not licensed you may have an invalid lease. Better not take that chance.
TREC (Texas Real Estate Commission) does not promulgate listing or buyer representation agreements, property management contracts, forms for commercial property, or residential leases. They do have basic 1-4 buyer/seller contracts available for public use when you are ready to sell.
Ask your realtor if they would help you with the renewal. It's normally pretty quick and easy, especially if they have the info already. Maybe they would do it for a small fee, versus reinventing the wheel. If you are self managing, you may want to negotiate the rent increase though and just tell the agent the new rate. Read your current lease to see the timeframes required to do this. Maybe 30 days maybe 60days or longer.