How to Rent a Home As a Landlord
- 1). Clean your home thoroughly, from top to bottom. Clear out old boxes from your basement, remove unneeded furniture from the bedrooms, and clean out the fridge of all unnecessary items. Repaint each room and fix any broken fixtures, furniture, and appliances. Purchase furniture that will make the home more attractive to prospective renters.
- 2). Hire a home inspector to come to the home and look at the entire house. An inspector can determine any issues with the house that you should be concerned about for your future renters. You don't want to have ongoing complaints from tenants about a dangerous condition, such as a broken step or a broken appliance. Have the home tested for mold, asbestos, and other possible issues. Get written proof from all home inspectors that all is well.
- 3). Draw up a lease for the home rental. Have an attorney help you organize the wording and look over the lease to make sure that you haven't left anything out of the agreement.
- 4). Post ads about your house for rent in your local newspaper, on bulletin boards at popular retail stores in your area, and online at local classified sites.
- 5). Conduct an eviction check. This will protect you from a tenant who has a history of not paying rent reliably. Get full disclosure about anyone who will be living at the house and explain that only those who are on the lease are allowed to live at the house. Ask for a security deposit to assure that your expenses will be at least partially covered in the event of a default in rent payments or damage to the property (the security deposit you ask for must be in accordance with the laws of your state--see resources for a link).
- 6). Gte the rental agreement signed in front of a notary by both parties and set a move in date.
