Tips for Renting Out Your Home or other Residential Real Estate

In this article, I'll be going over my top tips for renting out your house or other residential real estate.

• Make Sure That You're Able to Rent Out Your House

• Consider a Property Manager (i.e. I Use One for My Own Rental)

• If You Get a Property Manager, Look for & Strike a Sale Provision in the Contract

• Time is Critical to Successful Property Management

• Risks with Property Management

• Keeping Records

• Get Landlord Insurance, Require Tenant to Have Insurance, & Consider Rent Guarantee Insurance

• Have Funds & Other Safety Measures Available for Repairs & Vacancy

• Education Prior to Your First Rental (110+ hrs if DIY (higher if >1 property, if low $ reserves to cover mistakes, or if high value property); 21+ hrs if hiring a property manager)

Related:

• Education Needs Before Renting Out Your House

• Landlords & Tenants

• Renting Out Rooms

• Short-Term Rental Options