Check local landlord-tenant laws and rental regulations
Decide whether to rent the entire home or part of it
Set a competitive monthly rent based on market research
Calculate all rental costs, including mortgage, taxes, insurance, repairs, and vacancies
Prepare the home for tenants by cleaning, repairing, and making it safe
Ensure required permits, inspections, and certificates are in place
Take quality photos of the property
Write a clear rental listing with key details and rules
Advertise the property on rental websites and local channels
Screen applicants with rental applications
Verify income, employment, rental history, and references
Run background and credit checks with proper consent
Follow fair housing laws during tenant selection
Choose the best tenant and notify applicants
Draft a written lease agreement
Include rent amount, due date, deposit terms, maintenance duties, and house rules
Collect the security deposit and first month’s rent
Conduct a move-in inspection with photos and documentation
Hand over keys and provide move-in instructions
Set up a system for rent collection and maintenance requests
Keep records of payments, repairs, and communications
Respond promptly to repair and legal issues during the tenancy
Perform a move-out inspection at the end of the lease
Return the security deposit according to local law
Re-list the property or renew the lease if desired