I am a Dallas Relocation Realtor who helps lots of folks moving here from out of town. Usually, I help them buy a home. But, sometimes they need Dallas relocation rental homes before they’re ready to buy. So, I am able to offer free professional help to relocation renters too.
There are lots of reasons why relocation buyers need to rent a home before they buy. Sometimes, they just want to try out a neighborhood before they commit to buying. Also, they may need to sell a home and don’t want to wait for it to sell. Or, they might have a problem getting a loan and have an issue to clear up such as bad credit from a medical bill.
Short Supply of Dallas Relocation Rental Homes
Whatever reason is causing them to want to rent first, these relocation buyers are in for a shock. The Dallas real estate market is so hot that even rental homes are in short supply. The overall vacancy rate now for rental homes in good areas is less than 4%. Because that is the case, it’s difficult to find a home to rent in good condition or in a good location. I know. I’ve helped many buyers with rental properties. They are easily disillusioned after just looking at a few Dallas rental homes for relocation renters. Most have poor locations such as on a busy street. Or, they might be in poor condition. And, folks relocating to Dallas are often in competition with lots of local renters.
Rent Any Home in the Dallas MLS
The good news is I found a solution. I have partnered with one company that lets my renters select a home from the current home listings for sale. You read that right. My renters can actually rent Dallas relocation rental homes currently listed for sale in the Dallas residential MLS (North Texas Real Estate Information System - NTREIS). My partner company will then buy that home to become the landlord and rent it to my customers at market rate. From there, the clients have the option to buy the house after a year. Or, they can continue to rent the home if they prefer at a predetermined increase in rent.
The program works like this. The relocation renter finds any single family home or town home that is currently on the market with my help under $475,000. The chances are that the home is already pre-approved from the investor because they use a pre-approval system that is automatically linked to the Dallas MLS System. I then reach out the listing agent and explain to them we have a cash offer coming their way and we would like a 30-45 day closing with a quick inspection. Listing agents love these terms. So, we should be able to place the desired home under contract right away. And, the Dallas relocation renter can take possession quickly and rent with very reasonable, pre-determined option to buy. Imagine all the listings for sale in the Dallas MLS are now available to Dallas relocation renters.
Rent With Option To Buy
No matter what this program is a win-win. Since all MLS homes for sale are potential Dallas relocation rental homes, they get better homes. And, the customer has options at the end of the lease to leave, re-lease or buy that home. They can end the lease totally without penalty at that time. Or, they can renew the lease at a predetermined rate. Finally, they have the option to buy the home. Of course, there are applications that need to be filled out like any other lease. And, there is a minimum income and credit requirement. However, these are requirements for any landlord that is credible and good at what they do.
When I first found this unique program, I was a little concerned that it might not be exactly as advertised. But I was wrong! Yes, I have to do a little extra work for Relocation rental company but not the customer. All they have to do is select the home or homes they want to view. I setup the showings and hope we find a home that would work perfectly for a short period of time or maybe longer!
Dallas relocation renters love this program. They get a better home to rent, a greater selection of homes and the option to just the home reasonably at the end of the lease. I am thrilled about this program and so are my relocation renters.
Do you have any questions about this program? I can provide all the details. Simply contact us and I will be in touch with you soon.
If you’re ready to relocate to Dallas, then you’ll need a professional Realtor to facilitate your move. Our North Texas Dallas real estate experts can guide your search so that you can find your home with ease and efficiency. Trust our intimate, comprehensive knowledge of Dallas’s neighborhoods and our understanding of your family’s unique real estate needs to help you relocate to North Texas Dallas in no time. If you have no selected a top Dallas, TX Realtor to represent you in your home purchase, contact us, and we’d love the opportunity to interview for the opportunity to help you find your dream home! As a buyer in the Dallas real estate market, you have an exciting season ahead of you! The city is in the midst of its best real estate season in the decade. Hopefully, with the tips we’ve given you, you’ll be able to navigate through the process smoothly and without confusion. Talk to a REALTOR® for more information and to start looking for your new home! We offer great service and incentives for new home buyers in Southlake, Colleyville, Frisco, Plano, Coppell, Prosper, Castle Hills, Celina, Lewisville and other cities in DFW metro area.