Dallas Superbowl Leasing in the Media

I recently took part in an NBC 5 News story by Grant Stinchfield. The story titled, “Super Bowl Rentals Could Become Brothels, Group Says” focuses on the possibility that leased homes could be used for illegal activity.

Superbowl Leasing in the Media

Licensed from iStockPhoto

With the Superbowl coming to town in 2011 and the hint of big money, some homeowners close to the stadium (and those not so close) are considering leasing their homes for the event. Grant raises a great point that anyone considering leasing their homes needs to exercise caution.

While this is true in any lease situation, these short-term leases represent a huge risk to the owner. If you are looking into a short-term lease consider the following:

Take a Lease Application. Most of us would never lease our home without one so why do it now? 

Run a Background Check. Part of the lease application should be an authorization to do a background check including criminal and credit.

Put the Lease in Writing. While Texas Law recognizes a verbal lease for less than one year, it’s critical to get the details in writing. Contact a local real estate professional or an attorney to have the document drafted. You have to plan for holding-over or damage to the property. If you don’t, you may find yourself having to go through the eviction process and find damage that exceeds any profit made on the lease.

Remember the Golden Rule of Business. If it sounds to good to be true, it usually is.

The Superbowl will have a huge economic impact on the DFW Metroplex. If you decide to lease your home to cash-in on that impact, take steps to protect yourself and your property.

Tom Branch, Broker, CDPE, SFR

About Tom Branch

Tom Branch has written 597 posts in this blog.

Have you ever just met someone, but felt you like you'd known him for years? That's what most people experience with Tom. He has a knack for making folks feel right at home. After 21 years in the Air Force, loyalty and honesty are the foundation of everything Tom does. In addition to being a Texas Real Estate Broker, Tom is a Certified Distressed Property Expert (CDPE) and a Short Sales & Foreclosure Resource (SFR).