RentandLeaseHousing’s Blog

So you have analyzed your situation, and reached the conclusion that renting out your house is the best option. Now you need to set up a plan of action to get your home ready to rent.

First things first, where are you going to live?

• Are you moving in with a roommate?
• Are you going back with mom and dad?
• Are you renting an apartment?
• Are you sleeping in the car?

Second, you will want the home to look presentable and ready to sell. Some properties will rent no matter what, but if the home presents well in the initial walk through, you increase the likelihood of landing a tenant at a higher rent. Items to check and repair include:

• Touching up any paint imperfections
• Determining if you have lead based paint in the house (pre-1978 properties)
• Noting any carpet stains or rips (replace the carpet if it is in bad shape)
• Fixing any tile damage in the bathrooms
• Making sure all railings are attached securely
• Patching up any holes in the drywall
• Checking all appliances to make sure they are functional
• Testing the air conditioning and heating units
• Checking to see if the batteries are good in the smoke detectors
• Cleaning up the property or moving out your furniture and possessions

Honestly, this list could go on and on, but you get the general idea. I also recommend to double check with your Local County and State to see if the property needs to be registered as a rental property. Some counties like Baltimore County in Maryland require all landlords to register their rental properties.

Third, advertise it!

Grab your digital camera and snap some shots of the interior and exterior of the property. Make your way over to www.rentandleasehousing.comand register to list your property. 30 day rental ad listings are completely free and 60 and 90 day rental ad listings are available at $5 and $10, respectively. Once you are registered, post your ad for people to search and respond to.

Fourth, find a tenant.

Once you start receiving phone calls and emails from the rental ad, you will need to start the prescreening process. The prescreening process includes the following:

• Having the tenants fill out a rental application
• Pulling the tenants credit report
• Signing a lease

So you think you have found a great tenant for your home? Please stayed tuned for Step 3 which will go into some red flags when prescreening tenants and go over signing a lease.

Introduction: Do Not Sell Your House, Rent It
Step 1: Renting vs Selling - Analyze Your Situation
Step 2: Renting Your House: Create a Plan
Step 3:  Signing a Lease with a Tenant