Help for First-Time and Accidental Landlords
Renting out a home you moved out of, inherited, or could not sell yet, with a broker walking you through it.
You Did Not Plan to Be a Landlord
Most first-time landlords in San Antonio did not set out to own a rental. A job moved you out of town before the house sold. You bought a new home and decided to keep the old one. A parent passed away and left you a house. Or the market did not suit selling, and renting buys time.
Harvest Real Estate Property Management works with owners in every one of those situations. Broker Betsy Nava-Flores explains what changes when your home becomes a rental, what Texas expects of a landlord, and what it will cost, before you sign anything.
What Changes When Your Home Becomes a Rental
- Insurance. A homeowner's policy is usually not written for a rental. Call your agent about a landlord policy before a tenant moves in.
- HOA rules. Many San Antonio-area HOAs have deed restrictions on leasing, such as minimum lease terms or registration. Check yours before you list.
- Taxes. Rental income, deductions and what happens when you eventually sell are questions for your CPA.
- The law. The Texas Property Code sets rules on repairs, security deposits and entry that apply the day a lease is signed.
Rent It or Sell It?
Before committing to a lease, it is worth knowing both numbers: what the home would rent for and what it would sell for. A free rental analysis gives you the first. Betsy has sold homes in San Antonio for more than two decades and can talk through the second, along with what management and maintenance would really cost.
For an inherited home, there may be more to sort out first, such as probate, title and whether every heir agrees. Talk with an attorney about those, and bring Betsy in when the home is ready to rent or sell.
When Your Home Didn't Sell
A listing that did not sell is one of the ways owners end up as landlords. The home sat on the market, the offers were too low, or the listing expired, and now you are deciding what to do next. Property management can be a strong answer to that problem.
Renting the home lets the rent help carry the mortgage, taxes and insurance while you wait for a market that suits selling. It keeps you from accepting a price you do not want just to be done. When you are ready to sell later, the home can go back on the market between tenants.
It works best when the numbers add up, so start with a free rental analysis to see what the home should rent for and what it costs to manage. If you lived in the home, ask your CPA how long you can rent it before it changes the taxes on a future sale.
How We Set Up Your First Rental
A first rental comes on board the same way as every property we manage. We price it, tell you what to fix, market and show it, screen applicants against written criteria, sign the lease, and document the home's condition at move-in. With full-service management, we also collect rent and handle repairs from then on. The how it works page walks through every step.
First-Time Landlords Across the Areas We Serve
See what renting a home for the first time looks like in San Antonio, Helotes, Boerne and Castroville. Questions first? Call 210-889-7495 or send them to us.
Frequently Asked Questions
Do I need different insurance to rent my house?
Usually, yes. Most homeowner policies are not written for a rental. Ask your insurance agent about a landlord policy before a tenant moves in.
Can my HOA stop me from renting my home?
Some HOAs restrict leasing through their deed restrictions, for example with minimum lease terms. Check your HOA documents before you list the home.
Should I rent or sell an inherited house?
It depends on the rent the home would bring, its condition, your costs and what the heirs want. Get a rental analysis and a sale estimate, and talk with an attorney and CPA about probate and taxes.
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Ready to make your move with Harvest Real Estate Property Management?