There are many reasons that you might suddenly think, I need to rent my house. Maybe you’re moving for a new job opportunity or you want to be closer to family. For many people in this situation, it’s their first time becoming a landlord.

There are legal implications, financial liabilities, and emotional concerns when you choose to rent your house. Navigating these challenges can be overwhelming, but there’s no need to worry. Evernest has helped thousands of landlords work through this process.

In this article, we will walk you through the steps necessary to rent your house successfully. From preparing your home to understanding your responsibilities as a landlord, we will cover all essential areas you need to know.

Get Your Home Rent-Ready

First, we recommend moving all of your furniture and personal belongings out of the home so you can get an objective view of what needs to be updated. This will not only help improve the aesthetics of the house but also allow potential tenants to visualize their own belongings in the space.

Next, do a thorough inspection of the property. Touch up paint, check that all appliances are in working order, and make sure the HVAC system is functional. Additionally, ensure that there is no clutter or storage on site, as a clean and well-maintained property is more appealing to tenants. 

The exterior of the home is just as important, so consider sprucing up the landscaping, cleaning the gutters, and ensuring that the entryway is inviting. A well-kept exterior not only enhances curb appeal but also signals to potential tenants that the property is cared for and managed responsibly.

Furthermore, don’t underestimate the power of staging. Even if you’ve removed your personal items, strategically placing a few key pieces of furniture can help illustrate the flow and functionality of the space. Think about incorporating neutral decor that appeals to a wide range of tastes, such as a simple area rug or tasteful wall art. This can create a warm and inviting atmosphere that encourages prospective renters to linger longer and envision their new life in your home. Additionally, consider enhancing the lighting; bright, well-lit spaces feel more open and welcoming, which can significantly impact a tenant's perception of the property.

Research Rental Rates in Your Market

To get a sense of how much your home will rent for, start by researching market rates of rental properties in your area. Websites like Facebook Marketplace, Craigslist, and Zillow can provide useful insights into local pricing.

When conducting your research, make sure that you are looking at comparable properties with the same number of bedrooms, bathrooms, and similar amenities. Pay attention to what similar homes in your neighborhood are renting for. This will help you set a competitive rate and avoid underpricing or overpricing your rental.

List Your Property & Interview Potential Residents

Now it’s time to get some high-quality photos of your property and list it for rent online. Capture the best angles of your home and ensure the lighting is optimal. The more inviting and visually appealing your listing, the better your chances of attracting potential tenants.

Make sure that you’ve written an accurate and flattering description of your property that doesn’t violate any tenets of the Fair Housing Act. Remember that your resident interviews must also be Fair Housing-law compliant. Avoid selecting residents based on profiling demographic information; instead choose the best candidate based on their financial qualifications and employment history in the area.

Create a Rock-Solid Lease Agreement

Lastly, make sure that your property is protected with a rock-solid lease agreement. This is your opportunity to outline the terms of the tenancy, clearly stating your expectations. Will you require your residents to have rental insurance? What are the terms and conditions of your security deposit?

Consider whether you will allow pets in your home, and if so, what rules you will have regarding them. A well-constructed lease agreement not only protects your rights as a landlord but also provides clarity for your tenants, helping to avoid misunderstandings in the future. You can find great residential lease agreement templates online to guide you through this process.

Be Prepared to Handle Day-To-Day Responsibilities OR Hire a Professional Property Management Company

Once you’ve placed a resident in your home, this is just the beginning of your day-to-day responsibilities. As a landlord, you're now on the line for answering maintenance requests, coordinating annual inspections, and collecting rent from your tenants.

If this sounds overwhelming, consider hiring a professional property manager, like Evernest, to oversee your new rental property. They can handle all the day-to-day operational tasks, allowing you to enjoy your role as a landlord without the stress of managing every detail. This option can provide peace of mind and free up your time for other important aspects of your life.

Conclusion

Renting out your home in Tucson can be a profitable venture if approached thoughtfully. By preparing your property, understanding the market, selecting the right tenants, creating a strong lease agreement, and staying on top of day-to-day responsibilities, you can create a smooth and successful rental experience. Good luck on your journey to becoming a landlord!

Ready to get started? Contact our local team today!