Turning my House into a Rental.
4 Replies
Yoao Oaxaca Investor from Manteca, California
posted over 2 years agoHello 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
Jeremy Jackson Investor from Harker Heights, Texas
replied over 2 years agoWill 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."
Matt Miller Investor from Newcastle, Oklahoma
replied over 2 years agoLogan Dickson from Las Vegas, Nevada
replied over 2 years agoWelcome to BP! You are in the right place! You can find all of the answers you need on this site.
You can start with reading these two "How to" guides:
http://www.biggerpockets.com/renewsblog/2013/01/27/tenant-screening/
http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/
Yoao Oaxaca Investor from Manteca, California
replied over 2 years agoThank 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.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.