The greatest way to gain instant exposure is to list your property with a licensed real estate agent, but it is certainly not the only way. Especially in the Plano area, leases are HOT right now. When I looked on Monday, the average days on market in the W Plano/Frisco area was only about 12 days for leases. Real estate agents have access to credit checks, background checks, etc. You can do these as well, but you have to find a service or someone to do them for you. You also want to make sure you have forms that will hold up in court if anything were to be disputed. Real Estate agents have access to a certain set of forms that ONLY licensed agents can use. You can also do a search for Rental Agreement Forms and find some online. I believe I have seen a package that can be bought at Office Depot as well for like $50. Just make sure you read through it and know what your responsibilities are.
Marketing = Time. If you have the time to spare, then you can certainly market the property yourself quite easily.
1) Have a sign in the front yard. Make sure the information/phone number is legible, and make sure YOU ANSWER THE PHONE or at least call back quickly. I have a buyer in the Dallas area looking for a home and I called 4 FSBOs (For Sale By Owner) signs asking if I could take a look at the property for prospective clients and I have not heard back from one of them yet. How can I sell their property? How can THEY sell their property? Mind boggling. You can also put directional signs at each end of the street that point them to your home. Make sure you get the permission of the homeowner who's yard you will put it in.
2) Craigslist - Probably the best source of leads for rental properties today, but BE CAREFUL. There are a million and one scams that are running through CL these days.
3) Trulia, Yahoo Real Estate, Homes.com, etc. I'm not sure which have leasing portions of their site, but check them out. Get your information as many places as you can.
4) Discounted service broker - Can place your rental property in the MLS for a flat fee. Prices vary, and they will not do anything else for you unless you pay on an ala carte basis.
5) Flyers - Place flyers in high traffic areas that people will see. Community bulletin boards, local college campuses, etc.
If you don't have time to market your property and would like to discuss listing it with a professional REALTORÂ®, I'd be happy to chat. In fact, I am up right now since you just posted the thread, so if you want to call now I'd be happy to talk.
It's more than real estate. It's RAYL-Estate!
Keller Williams Elite