While most real estate agents and property managers discourage the idea, making it out to be a mammoth and hectic ordeal, renting your home yourself can be a gratifying experience, both personally and monetarily. It is commonly assumed that finding renters is the biggest challenge when renting your home without a property management professional to represent you. Because of the numerous property management and advertising resources available on the Internet, advertising your house for rent to renters has never been easier. Online classified ad web sites like Craigslist are excellent for homeowners and real estate investors wanting to find renters.
In addition, there are tons of web sites dedicated to helping you advertise your home for rent by owner. All of these sites allow you to submit a detailed description of your home, photos, and floor plans. Another key challenge is setting and establishing the rent for your house. The quickest and easiest way to determine what other homes in your area are renting for is to search on Craigslist. Compare your house for rent to others in the area in terms of the number of bedrooms, bathrooms, and price. Remember, those home owners and investors that are working with a property manager are actually being paid less for their home when it rents, because a significant percentage goes to pay the property manager.
The best way to get the rent you want is to prepare your home and advertise it properly. You should give your home a detailed manicure, inside and out. This may include de-cluttering the house, cleaning up the yard, applying touch-up paint, and finalizing any cosmetic repairs.