A General Guide to Renting Your Home

In the midst of tough economic times, you may be thinking about renting your home to earn additional income, or as a way to have someone present while you‘re away for an extended period of time. Finding renters and signing a lease agreement can be safe and easy.

Place an Ad on Craigslist

Take advantage of the free advertising available to you on www.Craigslist.com. It's a well known site to prospective tenants in search of renting a home. You're sure to get calls if you list your home for rent.

Run Criminal and Financial Background Checks

One important step you should take when you find a potential tenant is to check their background. Run a criminal background check first, including a search at the National Sex Offender Registry at www.familywatchdog.us.  Next, call previous landlords to verify that the tenant paid rent, consistently and on time.

Collect a Security Deposit

State laws vary on how much you can collect for a security deposit, so check the rules for your state. It's important to collect the deposit first before you allow the tenant to move in to ensure that you'll have money to repair any damages to the premises.

Renting your home to strangers does have some risks.  Therefore, it's important to verify your tenant's history and collect a deposit.

 

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