A 13-Step Guide to Renting Out Your Property (Without a Management Company)
You don’t need to hire a property management company to rent out your property. Today I’d like to share how you can rent out your property on your own in just 13 simple steps.
Renting out your second (or third or fourth) home can be a great way to earn passive income, but how should you approach the task of managing this property? Some will encourage you to hire a property manager, but the truth is that you can easily, and effectively, handle this job on your own.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure:
00:22 – An introduction to today’s topic
01:00 – Step One: Run the numbers and make sure it makes sense
01:26 – Step Two: Prepare the property
01:51 – Step Three: Hire a professional photographer
02:34 – Step Four: Create a “Tenant Criteria” sheet
04:33 – Step Five: Start advertising your property
05:30 – Step Six: Screen your tenants by phone
06:58 – Step Seven: Schedule showings
08:27 – Step Eight: Process applications
09:00 – Step Nine: Screen your tenants on a deeper level
10:03 – Step Ten: Call landlord references
10:56 – Step Eleven: Have the tenant sign the lease
11:39 – Step Twelve: Collect the first month of rent and the security deposit
12:32 – Step Thirteen: Get a signed “Property Condition” form
13:29 – A conclusion to today’s topic
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.