All Forum Posts by: Account Closed

 So they contact my utility providers and request the change themselves?

Thanks, Nick 

Hello BP Friends,

I am sending out a lease for signature today. This will be the first lease I have ever sent out fro LTR.

How do I go about putting all of the current utilities into my tenants name?

I will need to put:

1. Internet

2. Water/trash

3. Electricity

Thanks in advance,

Nick

@Bruce Lynn always appreciate your insight! Very good points. Now that you mention it, I can see handling the PM myself. I've got it listed on Zillow currently and will be touring a prospective tenant this week. So fingers crossed that we can land someone soon. As far as utilizing a realtor and the MLS, I am sure there is great benefit in doing so. This might be what we do if we cannot find a tenant in a sufficient amount of time. Talk with you soon!

Good day!

I am going to make this short and sweet.

I turned my primary residence into an STR in the heart of the boom. Dallas is now severely over-saturated with endless properties underpricing each other. We have a nice place in a good location, but I am not happy with the occupancy or average daily rate anymore. Honestly, we are not profitable right now, and I don't have a magic ball to see the future. I also want to qualify for another mortgage soon, which means I need to provide evidence of legitimate long-term revenue, ie LTR lease etc. As a result, we are going to begin the pivot to a long-term rental strategy. This is the first home that I will have ever rented long-term. We will rent for a 12 month minimum. Will also likely hire an LTR property manager.

3 bedroom / 2.5 bathrooms / 1,915 sqft / Complete gut and rebuild in 2020 /  Dallas, Texas 75208

A few questions:

1.) Property is fully-furnished. Nice furniture and amenities. What kind of multiplier can I use against the standard rent if we rent full-furnished? I will have to pay for storage if not rented full-furnished. I have considered this cost, but am not exactly sure what size unit I would need.

2.) Charge for all utilities, cover some and charge the rest, or include all?

3.) What's the best web source for listing a house for rent?

4.)What have I not thought of that I need to consider?

5.) Where can I find the most legitimate fair market rent value for this home?

Thanks in advance,

Nick

I am in the process of breaking ground on my first single family home build to sell in Horseshoe Bay West.

Does it make sense to produce a rendering of the final product to begin advertising for sale? If so, what is sufficient in term of rendering?

Front of house only and interior? All exterior and all interior?

Looking forward to your input and experience!

Thanks,

Nick