What are some important things to consider before renting out your property?

There are several important things to consider before renting out your property, such as the condition of the property, local zoning laws, and the potential income you can generate. It is also important to consider whether you are comfortable being a landlord and dealing with tenants or whether you would like to leave this to a professional property management team.

How do I set a fair rental price for my property?

To set a fair rental price for your property, you should research the rental market in your area to see what similar properties are being rented for. You can also consult with a local real estate agent for guidance. Keep in mind that you will also need to factor in additional costs such as utilities and maintenance.

What are some common legal requirements for renting out a property?

Common legal requirements for renting out a property include obtaining all necessary permits and licenses, following fair housing laws, and creating a legally binding lease agreement. It is also important to keep proper records and documentation, including applications, agreements and records of rent payments. Additionally, landlords have a legal responsibility to ensure the property is safe and habitable, and to make any necessary repairs in a timely manner.