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How do I start renting my house?

I think I decided to rent instead of sell, is this a good idea? What do I have to do to get my house ready to rent?
Asked By Nestor O. | Las Vegas, NV | 511 views | Renting | 2 years ago
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Novice
1 Answer
Matthew Wielgos

Plum Tree Realty

(10)

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.
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Semi-Pro
60 Answers
Steven Hunt

Real Broker NY LLC

(31)

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%.

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Rising Star
16 Answers
Keith McKeever

Fathom Realty Central IL

(9)

Here is some general advice on things to do... Determine your rental price: Research comparable rentals in your area to determine a fair rental price for your home. Make any necessary repairs or updates to the property to ensure it is in good condition for renters. Create a detailed rental listing that includes information about the property, such as the number of bedrooms and bathrooms, square footage, and any amenities. Include photos of the property. Post your rental listing on websites like Zillow, Craigslist, and local rental listing websites, and consider placing ads in local newspapers or on community bulletin boards. Review applications from interested renters and select a tenant based on their credit history, employment history, and references. Have the tenant sign a lease agreement that outlines the terms of the rental, such as the monthly rent amount, the length of the lease, and any rules or regulations. And finally establish a system for collecting rent, such as setting up automatic monthly payments or requiring that rent be paid in person or by mail.
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Novice
3 Answers
Michael Siers

Howard Hanna Outer Banks Realty

(19)

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!
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Novice
3 Answers
Manuel Ayala

Simply Vegas

(11)

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.

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