How to Rent Out a Home That You're Trying to Sell

Attract potential buyers to your front door by renting out your home while you're trying to sell it.

Difficulty: Moderate

Instructions

Things You'll Need:

• Newspaper Ads
• Real Estate Agents
• Real Estate Attorneys
• Rental Agreements
• Rental Applications

1. Determine a monthly rental rate for your home by checking classified rental ads in your local newspaper.

2. If your home is listed with a real estate agent, ask the real estate company for referrals of individuals who may be interested in a short-term rental until your house is sold.

3. Advertise that you will accept tenants on a month-to-month lease.

4. Hold an open house to attract potential tenants/buyers.

5. Consider offering a lease-purchase or lease-option on your home to entice potential tenants/buyers.

6. Screen prospective tenants by checking credit, personal, and rental references, then select tenants in a non-discriminatory manner.

7. Ask a real estate company or attorney to review any lease, lease-purchase, or lease-option contract on your home.

Tips & Warnings

• Be sure you understand the terms of any lease-purchase or lease-option contract on your home.
• Since real estate contracts are binding legal agreements, it's wise to consult a real estate attorney before signing any real estate documents.

[hacienda1978]

on 11/9/2008 I encourage everyone to check out a free site that allows people seeking short-term housing to identify providers of short-term rentals -- it is www.roomexnet.com.

They have properties available nationwide, and people are always lookingfor short-term rentals. They might even wind up buying from you if they travel to your city regularly. In any event, the site is free, so it's good publicity for your property.