Lease out your home in McKinney and Melissa

Owner questions, answered.

• What rent can my home get?

  I'll give you a rent opinion from recent leases of similar homes nearby. Use the rent opinion form, or text me the address.

• What do you do, and what don't you do?

  I price the rent, market the home, show it and present applications, and you choose the tenant. I don't collect rent or handle repairs after move-in; that's property management.

• Can my HOA stop me from leasing?

  Your HOA's recorded rules can limit leasing, so read them first. Texas law bars an HOA from requiring its own approval of your tenant or demanding the tenant's credit report or application. It can ask for each resident's contact information and the lease dates.

• What must I give a tenant?

  A flood disclosure at or before signing, signed by both of you; working smoke alarms, including one in each bedroom; the door and window security devices Texas requires, such as keyed deadbolts and window latches; and locks rekeyed by the 7th day after each new tenant moves in. Homes built before 1978 also need the lead-based paint disclosure and the EPA pamphlet.

More owner questions.

• How fast must I return the deposit?

  Within 30 days after the tenant moves out, with an itemized list of any deductions. You can't deduct normal wear and tear, and you can wait for the tenant's written forwarding address.

• Can I charge a late fee?

  Only if the lease provides for it, the fee is reasonable, and rent is still unpaid two full days after it's due. For a single-family home, a fee up to 12% of the month's rent is presumed reasonable.

• What about pets and assistance animals?

  Your pet policy is your call, but requests for assistance animals fall under fair housing law and are decided case by case. Before you answer a request, I'll share HUD's current guidance; for a close call, ask a fair housing attorney.

• Do I need different insurance once I lease out my home?

  Most likely. The Texas Department of Insurance says most homeowners policies won't cover damage to a rental, or limit what they pay, and that landlord insurance is mainly for long-term leases. Call your insurance agent before we list and ask about a landlord or dwelling policy with liability coverage and loss of rent. If you'll allow pets, ask whether your insurer restricts any breeds.

  Source: Texas Department of Insurance. General information, not insurance advice.

• If I lease it now, can I still sell later without paying tax on the gain?

  Often, yes, if the timing works. If you owned and lived in the home at least 2 of the 5 years before the sale, you may be able to exclude up to $250,000 of gain, or $500,000 for many married couples filing jointly. Renting it out after you move doesn't by itself cost you that. But because of the 2-of-5 test, if you lived there the two years right before moving out, you generally have about three years from move-out to sell. Depreciation allowed for the years it's a rental is taxed when you sell, even if you didn't claim it. Ask your CPA to check your dates.

  Sources: IRS Publication 523; 26 U.S.C. §121. General information, not tax advice.

• Who handles repairs and emergencies if I don't hire a property manager?

  You do, so set it up before move-in. I find and place the tenant; I don't manage the property. Texas requires a landlord to make a diligent effort to repair a condition that materially affects a tenant's health or safety once the tenant gives notice and is current on rent, and seven days is presumed a reasonable time. You also have to give the tenant a phone number for reporting emergencies. So put a repair contact, an AC company and a plumber in the lease packet, or hire a property manager to take over after I place the tenant.

  Sources: Texas Property Code §92.052, §92.056 and §92.020. General information, not legal advice.

Sources: Texas State Law Library, security deposits; Texas Attorney General, renters' rights; Texas State Law Library, repairs; Texas State Law Library, last month's rent; late fees (SB 1414); flood disclosure (SB 2349); rekeying (HB 2404); smoke alarms (HB 1168); selection criteria (HB 3101); HOA leasing (Property Code §209.016); EPA lead disclosure; TDHCA on assistance animals. Checked Oct. 27, 2026. General information, not legal or tax advice.