Jun
05
How do I put my house up for lease?
By
We are going to be moving soon and we are planning on putting our house up for lease but we don’t know how to go about it. Any suggestions or references?
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4 Comments
June 7th, 2010 at 10:55 pm
see re agent
June 9th, 2010 at 7:34 pm
You can place an ad in your local newspaper, or Craig’s list.com reaches a lot of people. When I have leased property your biggest fear is that a) they don’t pay the rent and b) they trash the place.. I have found (back when I used to believe people wouldn’t lie to me) that just calling previous property that theses folks used as references doesn’t give you a good picture of who they really are. I now pull a credit check on everyone, they can bull you but a credit check doesn’t lie. Its a great indicator of good standing and paying your bills on time. When I’ve done this it has never bitten me in the wallet.
June 13th, 2010 at 5:26 am
Legally- at least in Texas, you could simply put a for rent sign up and put something in craig’s list.
Most people would be best served to look at listing it with a management company. They would have the right lease forms, be able to market the home and check the renters carefully. They could deal with collecting the rent, arranging repairs and evicting people if needed. I think some renters think they can take advantage of individuals easier than a property management company.
They may charge you half of the first months rent or maybe a full months rent as a finders fee. They may charge you about 10% of each months rent as a management fee. There may be additional fees. Ask them.
June 16th, 2010 at 3:52 pm
Three ways to do this, depending how much work you want to do:
1. Go to an office supply store, get a lease agreement package, read and understand it. Check the local laws in your area and rent the property out.
2. Contact a Realtor and have them draft up the lease and find you a tenant. Chances are this will cost you, but the fee is worth the time savings.
3. If the rent has a large profit margin, hire a Property Management firm to handle EVERYTHING from drafting the lease to making repairs and cutting the grass. These services aren’t cheap but they leave you no worries but cashing the rent check.
Good Luck