Want to rent out your house? This is how to do it right: get the best tenants and the highest rent.
For most Americans, renting out their previous primary residence will be their first experience in real estate investing. Thankfully, renting out your house like a professional is not hard; you just have to follow a few key steps that inexperienced investors will completely skip over. Today, Dave is sharing his step-by-step guide to renting out your home, even if you have no experience, even if you’re self-managing.
From estimating how much to charge for rent to listing your property, screening tenants, collecting security deposits, and keeping the cash flow coming, anyone can be a good landlord if they put in the effort. When done right, renting out your home can give you another stream of income, tens or even hundreds of thousands in equity over the long term, and experience in real estate investing.
You’ve got the house; this is how you rent it out.
In This Episode We Cover
How to know whether you should rent out your house in the first place (or sell it)
Estimating what to charge for rent (and the most accurate way to do it)
Should you hire a property manager or self-manage your rental?
Landlord insurance 101: Why you must switch before your tenant moves in
How to screen tenants legally (and fairly) to get the best ones in your property
Traps to avoid at all costs when renting out your home (Dave’s $5,000 mistake)
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1317.
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