The stop-movement order that was in effect for military families on permanent change-of-station moves is being lifted in stages, allowing transfers to different stations to begin again for members of the military.
What does this mean for your Killeen rental property?
It can mean you’re going to have new tenants in the local pool and it also may impact the tenants you’re currently renting a home to in Texas. If you’re an active duty member of the military and you’re receiving PCS orders, it may mean you need to either sell your house or rent it out when you leave.
We do a lot of work with military families and military tenants, and we can provide some great property management advice to local landlords and out-of-state owners.
Tips for Landlords Renting to Military Families
When you lease your home to a member of the military or a military family that has just arrived in the Killeen area, you should follow the same standards and criteria you do for all of your tenants. However, there are a few things to keep in mind.
- Pay special attention to marketing. Military families may be renting from outside the area, so they’ll really be relying on pictures and video tours. Providing an experience that’s as close to an in-person showing as possible is invaluable when marketing your rental property to military tenants. Having convenient and flexible options for military families to view properties is key to successful property management and keeping vacancy rates as low as possible.
- Relocation is a fact of life for military families. These tenants are not strangers to relocation. They will have a distinct set of expectations when it comes to moving into a rental property. They have probably seen the best in rental homes and the worst. While they won’t need a review of the basics, they will benefit from the type of local support that only a Killeen property manager can provide.
- Military families can’t control when they move. You can expect your military tenants to sign a one-year lease agreement just like any other tenants. However, if they get PCS orders that take them out of town for an extended period of time, they’ll need the flexibility to get out of the lease. This is also a federal requirement that is established by the Servicemembers Civil Relief Act (SCRA). Make sure your lease agreement reflects a process and a flexible exit strategy for tenants who have to leave and have no control over their move-out date and that you are compliant with the regulations established by the Servicemembers Civil Relief Act (SCRA).
The good news is, military members are typically excellent tenants. They are reliable when it comes to paying rent on time and taking care of properties. They simply need some extra flexibility.
Tips for Members of the Military Renting Out a Home
If you’re a member of the military and you’ve received PCS orders to leave Killeen and deploy elsewhere, we know you’ll have a lot of details to manage quickly. It’s a stressful time, even if you’ve done this many times before.
Selling your home might be difficult as you’re preparing to ship out. The economy is a bit uncertain right now as the country continues to try and recover from the COVID pandemic. We recommend that you consider holding onto the asset and renting it out. There are a few important benefits to this. First, you can earn some consistent rental income from anywhere in the world. Second, you’ll have the property ready for you if you decide to move back here. You can always sell in a year or two years or 10 years, depending on how things work out.
A local property management company can help you ensure that rent is paid on time and your property is protected.
If you have any questions about military tenants or if you have any questions as a military owner, please contact us at Shine Residential Management. There’s a lot we can offer you, and we’re happy to share our knowledge and resources.