Turn Your House Into a Rental Property

If you're moving but don't want to sell your house, here's what you must know to prosper from tenants.

Start by hiring a real estate agent who has experience leasing properties. The agent can screen prospective tenants and help you decide how much to charge, says Michael Corbett, a real estate expert at Trulia, an online home-value estimator. Ideally, you should meet prospective renters so you can ask questions that aren’t covered by boilerplate applications. Do they work at home? Throw a lot of parties? Collect and repair antique motorcycles?

See Also: Find the Best, Latest Mortgage Rates in Your Area via Bankrate.com

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Sandra Block
Senior Editor, Kiplinger's Personal Finance

Block joined Kiplinger in June 2012 from USA Today, where she was a reporter and personal finance columnist for more than 15 years. Prior to that, she worked for the Akron Beacon-Journal and Dow Jones Newswires. In 1993, she was a Knight-Bagehot fellow in economics and business journalism at the Columbia University Graduate School of Journalism. She has a BA in communications from Bethany College in Bethany, W.Va.