{"id":96443,"date":"2025-06-05T09:47:02","date_gmt":"2025-06-05T16:47:02","guid":{"rendered":"https:\/\/www.redfin.com\/blog\/?p=96443"},"modified":"2025-06-05T09:47:03","modified_gmt":"2025-06-05T16:47:03","slug":"how-to-rent-a-house","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/blog\/how-to-rent-a-house\/","title":{"rendered":"How to Rent a House: 14 Tips Every Homeowner Should Know Before Getting Started"},"content":{"rendered":"

Thinking about renting out your house for the first time? Maybe you\u2019re relocating, downsizing, or still deciding between <\/span>renting vs selling your home<\/span><\/a>. Whatever your reason, learning <\/span>how to rent a house<\/b> can feel like a big task\u2014but it doesn’t have to be overwhelming.<\/span><\/p>\n

From setting the right rent price to creating a solid lease agreement and protecting your property, we\u2019ll walk you through the essential steps in this Redfin article. Whether you\u2019re <\/span>renting your home in Phoenix<\/span><\/a> or listing your <\/span>condo for rent\u00a0 in Dallas<\/span><\/a>, here’s what you need to know before handing over the keys.<\/span><\/p>\n

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1. Start with a financial game plan<\/span><\/h2>\n

Before listing your home for rent, take a good look at your budget. Can you cover your mortgage, property taxes, landlord insurance, and unexpected repairs <\/span>and<\/span><\/i> still earn a profit? Add up the recurring costs like maintenance, updates, and possible vacancies. Then compare that with local rental rates to make sure it\u2019s worth it. If the numbers don\u2019t work out, renting might not be the best move right now.<\/span><\/p>\n

\u201cThe best advice I can give is to spend some time running the numbers and figure out the potential upside is to you for renting out your home,\u201d says Dave Meyer, head of real estate investin<\/span>g <\/span>at <\/span>BiggerPockets<\/span><\/a>, a real estate investing platform offering education, support, and networking. A lot of people assume that just the cash element of it is the only thing to think about, but as a property investor, you do see other significant benefits, like appreciation and loan paydown, as well as significant tax advantages too, so you should try and look at the financial benefits holistically before deciding which is better for you.\u201d<\/span><\/p><\/blockquote>\n

\ud83d\udca1 <\/span>Pro Tip from BiggerPockets:<\/span><\/i> Make sure to account for ongoing costs like repairs, regular maintenance, potential vacancies, and the cost of cleaning or updating the unit between tenants. These costs can be commonly overlooked by first-time landlords.<\/span><\/p>\n

2. Decide who\u2019s managing the property<\/span><\/h2>\n

As the property owner, you’ll need to determine who will handle ongoing maintenance and emergency repairs\u2014whether that’s you or a professional property manager. If you\u2019re living out of town or simply prefer a hands-off approach, hiring a local property manager ensures your tenants have someone readily available when issues arise. Regardless of who\u2019s in charge, create a clear plan for routine maintenance scheduling, how and when tenants will be notified, and the process for addressing urgent repair requests.<\/span><\/p>\n

3. Look into rental property insurance<\/span><\/h2>\n

You likely already have home insurance and maybe additional flood or fire insurance, depending on where you live. However, you may also want to consider getting landlord insurance (also called <\/span>rental property insurance). This insurance typically covers property damage, liability coverage, loss of rental income, and personal property protection. Rental property insurance doesn\u2019t cover your tenant\u2019s belongings, so it\u2019s also a good idea to require tenants to have <\/span>renters insurance<\/span><\/a>. <\/span><\/p>\n

4. Set a competitive rent price<\/span><\/h2>\n

One of the biggest questions in learning how to rent a house is: \u201c<\/span>How much should I charge for rent<\/span><\/a>?\u201d Research comparable properties in your area and factor in your own expenses. Your rental rate will also need to cover your expenses, but be competitive enough to attract tenants. And don\u2019t forget\u2014some cities have rent control laws, so check your local regulations before setting a price.<\/span><\/p>\n

\u00a0“Connecting with other property managers can give you valuable insight into typical rental rates in your area and help you set a competitive price. You can also ask friends or family members who rent what they\u2019re paying and what they expect for that price.” – Dave Meyer of BiggerPockets<\/span><\/p><\/blockquote>\n

5. Learn the local landlord-tenant laws<\/span><\/h2>\n

Before renting out your house, make sure you’re familiar with all applicable local and state rental laws. Landlord-tenant laws dictate everything from how much security deposit you can collect to how much notice you must give before entering the property or raising the rent. Remember that there are <\/span>renter\u2019s rights<\/span><\/a> that you can\u2019t violate.<\/span><\/p>\n

You also have to follow the <\/span>Fair Housing Act<\/span><\/a>, which means you can\u2019t reject a tenant\u2019s application based on race, color, age, sex, religion, national origin, family status, or physical or mental disability. Local and state laws may also protect other groups. If you\u2019re unsure of these laws, you can consult with an attorney or the Department of Housing and Urban Development (HUD).<\/span><\/p>\n

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6. Draft a lease agreement for renting a house<\/span><\/h2>\n

There are plenty of basic <\/span>lease agreements<\/span><\/a> you can use as a template. However, you\u2019ll also want to consider what additional policies to include. Think about:<\/span><\/p>\n