-
Step 1
Start with finding a good rental house. Find locations where the rent demand are high.
-
Step 2
Advertise your rental houses through local community boards, local magazines, online such as craiglist.org, rental.com, etc.
-
Step 3
Show property to the potential tenant! and ask them to fill out the rental application if they're interested to move forward (to rent your place)
-
Step 4
Rental application should consist of: Name, address, ssn, previous addresses, employment history, other people information that will live in the house and the relationship with the applicant, pet information if allowed, consent of background check, etc.
-
Step 5
After you prescreen your potential tenant then next step ask them to sign up the lease agreement and do the move in check list (you will need the move in check list when they move out as well).
-
Step 6
You should receive the prorated first month rent and security deposit!at the same time they sign up the lease agreement.
Then you give them the key!
Thats it! No, not really! You will need to collect the monthly rent every month and do the regular maintenance of the house! -
Step 7
However the first big things are done! To collect the monthly rent you can simply tell them to mail the check to you ( P.O box or your home office address).
-
Step 8
If something broken (like the stove doesn't work, the diswasher doesn't run properly) you will need to hire handyman to fix it ( it is important to have regular handyman that you can call anytime when something like that happen).
-
Step 9
Some tenants are handy, they don't mind to fix it themselves and you can just tell them to deduct the cost of the material that they need to buy to fix it, on the next monthly rent!(Make sure you tell them to attach the receipt)
-
Step 10
So far it work very well! The tenant happy because they can do it right away without waiting for handyman to come, it also safe you the labor cost and you just pay for the material they need to fix it)
