How do I start renting my house?

Good decision to think through the process before just throwing it on the market. Here's what you need to handle before your first tenant moves in. Get the house rent-ready. Fix anything that's broken, clean it thoroughly, and make it presentable. You don't need to renovate, but a clean, well-maintained home rents faster and attracts better tenants. Fresh paint in neutral colors goes a long way. Switch your insurance from a homeowners policy to a landlord or rental dwelling policy. Your regular homeowners insurance does not cover you when someone else is living there. This is not optional. Research rental rates in your area. Look at comparable rentals on Zillow, Rentometer, or talk to a local property manager to find out what similar homes are renting for. Price it right from the start just like you would a sale. Decide whether you're self-managing or hiring a property manager. If you're local and handy, self-managing saves money. If you're not interested in tenant calls at 10pm on a Saturday, a property manager at 8 to 10 percent of monthly rent handles everything. Screen tenants thoroughly. Credit check, background check, income verification, landlord references. Never skip this step. Have a lease drafted by a real estate attorney in your state so your legal protections are solid from day one. And set up a separate bank account for rental income and expenses so your records are clean for tax purposes.

Nestor, The best thing you can do to prepare to offer your home for rent will depend upon the home, the condition, your local rental market, and various factors including your mortgage balance, expected maintenance costs, fees associated with the property, etc... You can certainly try to do this on your own, or you may consider hiring an experienced property manager who includes servicing the property maintenance as well as recruiting tenants when vacancies occur. Hope this helps.

You would need to get your home move in ready for the next tenant. Whether you renting vs. selling is a good idea, is totally dependent on your specific situation.

You start by shifting your mindset from "homeowner" to "landlord." First, remove every single personal item and deep clean the house until it is "hotel ready." Second, run the numbers to set a rental price that covers your costs and build a reserve fund for repairs. Finally, and most importantly, use a professional service to screen every applicant’s credit and criminal background. Never, ever rent on a handshake.

Nestor, I think it is a great idea to rent instead of sell. Ofcourse it depends on your situation. To get your home ready for tenants I would clean and freshly paint the house. Then you can either list it by yourself or use an agent or property management company. Agents usually charge 1 month rent for a 12 month lease. Property managers typically charge 10-12%.

Nestor, I agree with the guys below. Give a local management company a call. They can ensure you the most money and make sure you understand exactly what you are getting in to. Good Luck!

Here are some steps to take when renting out your house: Understand the legal requirements: Before renting out your house, it is important to understand the legal requirements in your area, such as rental laws and zoning regulations. You may also need to obtain a rental permit or register your property with the local government. Determine a rental rate: Research the rental rates for similar properties in your area to determine a fair rental rate for your property. Get your property ready: Before listing your property for rent, make any necessary repairs and improvements to ensure it is in good condition. This may include updating appliances, painting, and making sure the house is clean and well-maintained. Advertise your property: Advertise your property on various platforms such as online classifieds, social media, and local newspapers. You can also hire a property management company to help you with the marketing and advertising. Screen tenants: Once you have potential renters, it is important to screen them to ensure they are responsible and financially stable. This can include background and credit checks. Sign a lease agreement: Once you have found a suitable tenant, it is important to have them sign a lease agreement that outlines the terms of the rental, such as the rental rate, security deposit, and responsibilities of both the landlord and tenant. Collect rent and maintain the property: Collect rent on a regular basis and make sure to maintain the property and make any necessary repairs. It is also important to note that being a landlord has certain responsibilities and obligations, such as ensuring the safety and habitability of the property, complying with fair housing laws, and respecting the privacy and quiet enjoyment of tenants.