Turning my House into a Rental.

4 Replies

Hello BP,

I am new to this. I always wanted to have rentals, and since I am buying a bigger home for my family, I thought its a great opportunity to start by renting my current house.

Its a regular starter home 3 bed 2 bath about 1350 sqft normal in the area

I need Tips on how to go about this.

How to  accurately calculate my house rent value? (it should be 1300 to 1500)

How to convert my home into a easy rental?

help with rental contracts and paperwork?

Choosing good tenants?

My house has a pool. (i heard its more hassle to deal with a pool rental).

Thanks BP  

@Yoao Oaxaca

Will you have a property manager?  If yes, they can answer most of those questions. 

I recommend searching here on BP for answers to your questions. 

If you know your neighbors, figure out what they are paying for rent.

With a pool, make sure you have good landlord insurance coverage. 

The better condition your property is in, the more you should bring in for rent.  However, avoid "over-rehabbing."

For rental rates, take a look at for rent houses in your area and compare size, rooms, bathrooms and other features. You can do this by looking on Craigslist, zillow rentals, call numbers on signs in front of other for rent houses. Also, try looking for property managers in your area and set up a consultation/interview. I realize you are looking to do the management yourself, but this will give you some great advise and a resource in case your situation changes. Be upfront with them that you are exploring options and considering doing it yourself. As far as getting the house ready, read here for tips but I would not do anything unless it is needed it. Common tips are do not use flat paint so walls can be cleaned and replace carpet with tile and wood when it needs it.

Thank for all the help guys. look of good info here.

thanks Logan I've been reading those 2 links and have a ton of useful information and ill be referring back to this for a long time, its great thanks.

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