Did you just purchase a new rental property in Dallas Texas and are wondering what you should do next? If so, you've come to the right place! This is a question that many new Real Estate Investors ask after they purchase their first rental properties so you are definitely not alone.
The good news is that as a top property management company in Dallas we've had this question asked to ask many times before from Real Estate Investors like yourself that's why in this article we will answer this question by providing you with a list of things that you should do after purchasing your first rental property.
#1 - Make Repairs Or Renovations
The first thing that you should do after purchasing your first rental property in Dallas Texas is to make repairs and or renovations to the property.
Depending upon the age of a rental, it may need just a basic coat of paint before you can consider it to be “rent ready” but, if the previous owner did not care for the property, it might need some extensive repairs and renovations in order for you to get the property ready for rent.
To find out which renovations or repairs you should make first, it's best to hire a contractor or a trusted handyman to come out to the property with you on day one to inspect the rental. Your contractor will make recommendations regarding which projects that you should prioritize and get done right away, and which projects you can do later so you can get the property rented and into cash flow as soon as possible.
#2 - Hire A Professional Cleaning Company
After you have the work done on your property to get it ready for rent, the next thing that you should do is hire a professional cleaning company to come in and clean your property from top to bottom.
This step is important because, obviously after having a bunch of contractors or handyman coming in and out of your property on a daily basis the rental is going to have a degree of dust or dirt left over from the work, so it's best to get the property as clean as possible before you list it for rent online.
#3 - Take Pictures And Video Then Market The Rental Online!
Last of all, but most important, once your rental property in Dallas has been fixed up or renovated and professionally cleaned, the last thing that you should do is take pictures and video of the property then start marking the rental online.
When taking pictures and video of your rental property keep in mind that if your rental has unique features like tons of closet space, a nice front yard, backyard, or space for a home office. You should highlight those features in your pictures or videos because, they will most likely be what potential renters in the area were looking so it’s best to talk about and highlight the features in your rental that stand out.
Contact SquareHouse Property Management
To learn more about the things that you should do after purchasing your first rental property in Dallas, or to speak with us about our Professional Property Management Services, contact us today by calling (972) 523-1389 or click here to connect with us online.