Selling a Rental Property in DeSoto, TX: Step-by-Step

Selling a Rental Property in DeSoto, TX: Step-by-Step

By Steven

Thinking About Selling Your Rental Property in DeSoto?

If you own a rental home in DeSoto and you’re wondering whether it’s time to sell, you’re not alone. Whether you're cashing out, simplifying your portfolio, or preparing for a 1031 exchange, here’s a simple step-by-step process to help you sell smoothly—and profitably.

Step 1: Define Your Goals

Start by asking:

• Do I want to reinvest or exit the market?

• Is a 1031 exchange part of my plan?

• Am I looking to free up cash or reduce landlord responsibilities?

Every decision we make together will come back to these answers. If you're thinking about rolling over your profits into a new construction property, check out the New Construction Home Guide.

Step 2: Review Lease Terms & Tenant Rights

Texas law allows you to sell with tenants in place, but you must honor the lease and provide proper notice for showings. It’s best to:

• Review lease expiration dates

• Check for any lease transfer clauses

• Document deposit and rent status

We’ll keep everything smooth between you and your tenants. If you're unsure whether to sell with tenants or after they vacate, let’s talk.

Step 3: Know the Market

DeSoto’s housing market has stayed competitive thanks to its location near Dallas and growing appeal to commuters. I provide hyper-local insights, but you can explore current new construction listings using my Dallas-Fort Worth New Construction Homes search tool.

Step 4: Price Strategically

Rental homes have two values:

• Market value (for owner-occupants)

• Investment value (based on rental income and ROI)

I’ll run a comparative market analysis and include cash flow metrics for investor buyers. If you want an easy way to estimate your home’s sale potential, check out my Home Seller Score tool.

Step 5: Prep the Property

Basic curb appeal matters—even for investor buyers.

• Clean, declutter, and address minor repairs

• Provide rental income statements

• Have maintenance logs ready

The better your documentation, the more confidence a buyer has in your property’s value.

Step 6: Market for Maximum Exposure

My listings get seen by both local and national investors. I promote your rental property with:

• Targeted digital ads

• Social media campaigns

• Professional photos and virtual tours

Want to see how we get results? Join our New Construction Webinar where I explain exactly how we work for sellers like you.

Step 7: Review Offers & Prepare for Due Diligence

Investor buyers will want access to:

• Leases and tenant history

• Operating expenses

• Maintenance and repair records

• HOA docs if applicable

I’ll help you organize and present everything. If you’re purchasing another property after the sale, take a look at the Refind Realty Rebate Program to maximize your return.

Step 8: Handle Tenant Transition

Whether your buyer wants the home vacant or rented, I’ll manage tenant notifications and timelines per Texas law. If the property will remain occupied, we’ll draft tenant estoppel letters to ease the transfer.

Step 9: Close the Sale

I coordinate with the title company, lender, and buyer agent so that everything is accurate and on time. If you're using this sale to fund a new purchase, get a head start with pre-approval.

Step 10: Understand Your Tax Situation

After the sale, you might owe capital gains taxes or face depreciation recapture. Many of my investor clients explore a 1031 exchange to defer taxes. Let me connect you with a CPA or exchange specialist to keep your wealth working.

Why DeSoto Rentals Sell Well

• Steady demand from Dallas commuters

• Competitive pricing compared to North Dallas suburbs

• Strong tenant base with long-term stability

If you want to explore newer homes to reinvest in after this sale, I can help. Explore your options in the Dallas-Fort Worth New Construction market or check out our Home Selling Options to weigh what’s next.

Ready to Sell Smart?

You don’t have to navigate this alone. I’ll guide you through every part of the process and make sure you’re protected at every step.

Download the Lone Star App here: https://lonestarliving.hsidx.com/@sthomas
You're Always Home With Refind Realty!

FAQs

1. Can I sell my rental with tenants still living there?
Yes. You’ll need to follow the lease terms and Texas notice laws.

2. What if I want to avoid paying capital gains tax?
Consider a 1031 exchange. I can refer you to a local 1031 expert.

3. Will I make more selling it vacant or tenant-occupied?
It depends on your buyer. Some want cash flow from day one. Others want to move in. We’ll market to both.

4. Do I need to make repairs before listing?
Basic repairs help, but most investors will buy "as-is" if the cash flow looks good.

5. How do I find buyers for my rental property?
That’s what I do. I have investor clients locally and nationally, plus I advertise on multiple platforms.

6. What paperwork do I need to sell my rental?
Leases, rent rolls, deposit records, HOA docs (if applicable), and a property history are all helpful.