Five Tips For Renting Out Your House | Landlording 101

So, you want to rent our your house to make some extra passive income.

But before you do, make sure you follow these 5 tips given by David Greene, co-host of the BiggerPockets Podcast, to learn how to rent out your house safely & profitably.

We hope you enjoy this video! If you do, make sure to like, comment, and subscribe!

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[gregcarlson]

Tip #1) Screen your tenant
Tip #2) Set clear expectations for your tenant
Tip #3) Develop sound systems (solid business systems)
Tip #4) Keep reserves
Tip #5) Outsource what you don’t like

[fbgduval]

No idea why I'm watching this, I'm 15, but I plan on getting in to real estate when I graduate.

Update (March 23, 2023): I'm 19 now and have been working for ups for the past 6 months. Real estate isn’t off my list but I’m now more interested in flipping houses independently but the current housing market and my income doesn’t allow me to do that just yet.

[DanielIles]

Single families take a lot more tenant screening! Even on my multi families I take more time than most other investors just to get that right person who won’t give me trouble.

[prttygrl]

Im 24 and I bought a house last year and am planning on moving states in the next three years. I’m considering renting out my property but definitely want to do it right. This was helpful

[holden]

Yup. Got the property manager. It's a small take but so worth it.

[Мемерони]

I bought my first house when I was 20 bro as long as you got a solid job and a credit history you can do anything.

[TheBlazingKnight]

5 Tips to Rent out your house
1. Screen your tenants 01:40
2. Set expectations for tenant 02:10
3. Solid systems 03:08
4. Keep reserves 03:32
5. Out source what you don't like 04:00

[clauda]

Trust me this man knows what he is talking about! listen to him. I have 3 properties I rent out! FYI I have the best tenants ever!

[SterlingWhiteRealEstate]

Setting up reserves should be part of the costs of doing business. We investors should need to be prepared for these kinds of unexpected costs.

[tinateews]

Great advices Dave! My sister and her hubby lost two properties due to renting out to relatives and someone they thought they knew well. In America, renters have ways more rights than landlords. First it went well then the late payments and complaints about this and that started. It's suck because once they're your renters, getting rid of bad renters is no joke.

[zookiatookya]

I came here for a review on the Bose sound system. Disappointed...

[elMusico]

The part about outsourcing: a lot of the work of managing a property is easier now due to technology. For example, my renter has their payments automated so I don’t have to do anything to collect. Just saying in the case this would deter anyone, there are free tools to make it easier.

[christian]

Me watching this rn for when I turn 28 in ten years 😂😂😂

[LaidbackNarration]

Good video, especially bout the property manager part, outsourcing to do all the above

[Swaggrd]

I got a property manager. Not currently at cash flow positive because of it, but it's cut out a lot of the stress since I live out of state. Hopefully will be raising the rent to get positive.

[RetrieverTrainingAlone]

Need more detail on how to screen each tenant efficiently and thoroughly. Suggested service website for screening tenants?

[mojavedesertsonorandesert]

I was once you a Jerry then eventually became a Sara in rentals .. but I learned alot being a Jerry!

[Rehaunts]

Got any tips for a 19 year old high school senior who's got around 20k saved up, works at a fast food joint, and only has to worry about gas and food expenses?

[jancuales]

What percentage of the monthly income do you normally set aside for reserves?

[SymonnePat]

I don’t even know where to start. I want to keep my house but my family and I are outgrowing it. Is there a business that can help me write up a lease agreement? Will the property manager screen applicants for me as well?