PSF11
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I don't know where you're from, but here you just do it. We moved out of our first house 13 years ago and into our new one. We put an ad in the paper, and waited to get a tenant. Get a standard lease, often available at a stationery store. Type up an addendum of the items you're leaving behind-- appliances, shades, etc.. Tenants will need to sign that those things will remain when they leave. Start with a one year lease. If it works out, switch to a two.
That's the easy part. Down the road, when you see how they treat your house and you have to call every other day to get the rent money out of them, then you'll know what it's really like. My motto has become: "The problem with renting your place is you have to rent to tenants". In my book, most tenants are inherently not to responsible. |
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Sean O
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you could talk to a rental company there are companies out there that will advertise, cut the grass for you and everything, sometimes they charge a small fee, like 5-10% of what you are renting it for. You would never have to deal with the people that are renting it, they would always talk to the rental company |
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AM-NM centaur
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Legally? Do not violate the Fair Housing Act.
Other considerations:
Notify your insurance company so they can adjust your premium.
If your home is covered by a homeowners association (CC&Rs) you will need to comply with those rules.
Make sure your mortgage does not require owner occupancy. |
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AnsMar
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Cantact a Realtor....(Watson Realty is you have one in your area)
OR, Call a local real estate appraiser and ask him. |
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I_Have_all_the_answers...
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All you need is to find someone that is interested in "renting" your home. Then you need a Lease (which you can find online for free). Modify the Lease to what your requirements are, have the person agree to it, sign it, and both of you go to get it notorized.. Then that is basically it, other than whatever you stated you would provide to the tenant in the lease (I.E. will pay utilities, or not pay utilities, will fix plumbing, etc.. ) |
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stevemdfwtx
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If it was me, I'd incorporate a business, transfer the property to the business and have the business rent out the home. That way if there are legal issues the business is what gets sued instead of you. |
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Mommy to Lauryn and Sydney
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My husband and I are doing the same thing right now!! One option is using a real estate agent there is a one time fee of one months rent which goes to your realitor and the renters agent!! Or doing it yourself just post on craigslist or where ever get a lawyer (if you want) to draw up a lease agreement or print one online and if you want to do credit checks find someone to do it for you... Have your home insurance switched to dwelling and fire.. Not really that hard just time consuming at first!! |
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AAK7
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If you are thinking of renting your home out you have several options. They are as follows:
1.Look into a professional property management company and see what it would take for them to handle your home.
2. If you elect to go it on your own go to the library and check out books that pertain to being a landlord.
3. Factor in what are you going to do in terms of renting on a month to month basis or lease. What about pets, damage done by the tenant.
I would recommend putting on a home warranty policy in case something does go wrong, the only out of pocket expense would be for the service call. Great to have when you are a landlord.
4. Evaluate both ways of handling renting. Do the one that you are most comfortable with. |
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Return Real Estate Guru
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Legally renting out your home is as simple as drafting a rental agreement at terms which you are comfortable with. My advice would be to contact your local apartment association to find resources for landlords. You can also take classes about being a Property Manager in order to make sure you do everything according to the law and protect yourself. If you have further questions let me know! |
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sapmoolapmoo
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hmm maybe you could do some research. I mean you have to have a permit... |
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