How to Rent a House: 14 Tips Every Homeowner Should Know Before Getting Started

Thinking about renting out your house for the first time? Maybe you’re relocating, downsizing, or still deciding between renting vs selling your home. Whatever your reason, learning how to rent a house can feel like a big task—but it doesn’t have to be overwhelming.

From setting the right rent price to creating a solid lease agreement and protecting your property, we’ll walk you through the essential steps in this Redfin article. Whether you’re renting your home in Phoenix or listing your condo for rent  in Dallas, here’s what you need to know before handing over the keys.

1. Start with a financial game plan

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 and 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’s worth it. If the numbers don’t work out, renting might not be the best move right now.

“The 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,” says Dave Meyer, head of real estate investing at BiggerPockets, 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.”

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