{"id":10525,"date":"2024-01-15T08:35:37","date_gmt":"2024-01-15T08:35:37","guid":{"rendered":"https:\/\/imsfund.com\/?p=10525"},"modified":"2024-01-15T08:35:37","modified_gmt":"2024-01-15T08:35:37","slug":"how-to-turn-your-primary-residence-into-a-rental-property","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2024\/01\/15\/how-to-turn-your-primary-residence-into-a-rental-property\/","title":{"rendered":"How to Turn Your Primary Residence into a Rental Property"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div :class=\"{ 'hidden': $store.proContent.showFullPrompt() }\">\n<section class=\"px-4 relative border border-slate-200 mobile-toc lg:hidden\" x-data=\"{open:false}\">\n<button x-on:click=\"open = !open\" class=\"flex items-center gap-4 my-2 border-none w-full\"><br \/>\n<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-6 w-6\" fill=\"none\" viewbox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M4 8h16M4 16h16\"\/><\/svg><\/p>\n<p class=\"font-semibold text-slate-800 text-base m-0 js-toc-ignore\">In this article<\/p>\n<p><\/button><\/p>\n<\/section>\n<p>So, you want to know <strong>how to rent your house out<\/strong>. Maybe you\u2019re upsizing or downsizing, moving away for work, or just want to buy another primary residence and take advantage of low-money down loans. Whatever your reason,<strong> renting out your primary home can be a phenomenal way to get into <\/strong>the <strong>real estate investing<\/strong> game. You\u2019ll make <a href=\"https:\/\/www.biggerpockets.com\/blog\/passive-income-from-real-estate\" target=\"_blank\" rel=\"noopener\"><strong>passive income<\/strong><\/a>, all while holding on to the <strong>equity <\/strong>in your home and <a href=\"https:\/\/www.biggerpockets.com\/blog\/what-is-appreciation-in-real-estate\" target=\"_blank\" rel=\"noopener\"><strong>appreciation<\/strong><\/a> potential. So, how do you start?<\/p>\n<p>David, Henry, and Rob are all on the show today to give you a<strong> step-by-step guide to turning your primary residence into a <\/strong><a href=\"https:\/\/www.biggerpockets.com\/blog\/are-rental-properties-a-good-investment\" target=\"_blank\" rel=\"noopener\"><strong>rental property<\/strong><\/a>. Hundreds of properties have been owned between these three investing experts, and all of them have turned their primary residences into rental properties multiple times. But<strong> before you rent out your home<\/strong>, you\u2019ll need to know if your home is even rentable.<\/p>\n<p>We\u2019ll tell you exactly what you need to know to decide <strong>whether <\/strong>or not <strong>your home would make a good rental<\/strong>, how to <strong>make the most money possible<\/strong> off your home with affordable finishes, added amenities, and upgrades, how to <strong>decrease your liability<\/strong> and keep your property safe, <strong>insuring your rental<\/strong>, <strong>screening tenants<\/strong>, <strong>collecting rent<\/strong>, and more. If you\u2019re a beginner landlord or are renting out your home for the first time, you CANNOT miss this.<\/p>\n<p><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/biggerpockets-podcast-real\/id594419649\" target=\"_blank\" rel=\"nofollow noopener\">Click here<\/a>\u00a0to listen on Apple Podcasts.<\/p>\n<h2>Listen to the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC4524279630\" width=\"100%\" height=\"200\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<div class=\"justify-center \" x-data=\"{ IabAdad_block_: popAd(['r720x90'], '1') }\" :class=\"IabAdad_block_.linkURL ? 'flex pt-8' : 'hidden'\">\n<a x-show=\"https:\/\/www.biggerpockets.com\/blog\/IabAdad_block_.linkURL\" x-on:click=\"adClicked('https:\/\/www.biggerpockets.com\/blog\/real-estate-872', IabAdad_block_.sponsor, IabAdad_block_.title, IabAdad_block_.id, 'blockAdClicked', 'blockAd', 'postContent')\" target=\"_blank\" x-init=\"&#10;      analytics.track('blockAdLoaded', {&#10;        referrer: 'https:\/\/www.biggerpockets.com\/blog\/real-estate-872',&#10;        sponsor: IabAdad_block_.sponsor,&#10;        ad_title: IabAdad_block_.title,&#10;        ad_page_location: 'postContent'&#10;      })&#10;    \" x-intersect:enter.once=\"adViewed('https:\/\/www.biggerpockets.com\/blog\/real-estate-872', IabAdad_block_.sponsor, IabAdad_block_.title, IabAdad_block_.id, 'blockAdViewed', 'blockAd', 'postContent')\" rel=\"noopener\"><\/p>\n<div class=\" hidden sm:block\">\n<img class=\"m-0\" :src=\"https:\/\/www.biggerpockets.com\/blog\/IabAdad_block_.r720x90\" :alt=\"IabAdad_block_.r720x90Alt\"\/>\n<\/div>\n<div class=\"block sm:hidden\">\n<img class=\"m-0\" :src=\"https:\/\/www.biggerpockets.com\/blog\/IabAdad_block_.r320x50\" :alt=\"IabAdad_block_.r320x50Alt\"\/>\n<\/div>\n<p><\/a>\n<\/div>\n<h2>Read the Transcript Here<\/h2>\n<h2>Watch the Episode Here<\/h2>\n<p><div class=\"ast-oembed-container \" style=\"height: 100%;\"><iframe loading=\"lazy\" title=\"How to Rent Out Your House (Step-by-Step Guide)\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/cmw6GjAOuAc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<p><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><\/iframe><\/p>\n<h2>Help Us Out!<\/h2>\n<p>Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found <a href=\"https:\/\/www.biggerpockets.com\/forums\/25\/topics\/161423-do-you-listen-to-the-bp-podcast\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>. Thanks! We really appreciate it!<\/p>\n<h2>In This Episode We Cover:<\/h2>\n<ul>\n<li><strong>How to convert your primary residence into a rental property\u00a0<\/strong><\/li>\n<li>How to know whether or not<strong> your home<\/strong> would even <strong>make a profitable rental\u00a0<\/strong><\/li>\n<li><strong>Areas to invest in <\/strong>and what potential renters will look for<\/li>\n<li><strong>Long-term vs. <\/strong><a href=\"https:\/\/www.biggerpockets.com\/guides\/the-ultimate-guide-to-short-term-rental-properties\" target=\"_blank\" rel=\"noopener\"><strong>short-term rental<\/strong><\/a><strong> investing<\/strong> and how to know which works best for your home<\/li>\n<li><strong>Affordable finishes and amenities <\/strong>you can add to rent out your home for more<\/li>\n<li>What you MUST fix in your home to<strong> keep your liability <\/strong>as <strong>low<\/strong> as possible<\/li>\n<li><strong>Landlord insurance<\/strong> and the one added policy you (probably) should get<\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/blog\/2013-01-27-tenant-screening\" target=\"_blank\" rel=\"noopener\"><strong>How to screen tenants<\/strong><\/a>, collect rent, and get substantial tax benefits<\/li>\n<li>Whether to<strong> invest in out-of-state rentals <\/strong>or buy property in your backyard<\/li>\n<li>And <strong>So <\/strong>Much More!<\/li>\n<\/ul>\n<h2>Links from the Show<\/h2>\n<h2>Book Mentioned in the Show<\/h2>\n<p><em>Interested in learning more about today\u2019s sponsors or becoming a BiggerPockets partner yourself? Email <\/em><a href=\"http:\/\/www.biggerpockets.com\/cdn-cgi\/l\/email-protection#5c3d382a392e28352f391c3e353b3b392e2c333f3739282f723f3331\" target=\"_blank\" rel=\"noopener noreferrer\"><em><span class=\"__cf_email__\" data-cfemail=\"38595c4e5d4a4c514b5d785a515f5f5d4a48575b535d4c4b165b5755\">[email\u00a0protected]<\/span><\/em><\/a><em>.<\/em><\/p>\n<p class=\"italic\"><b>Note By BiggerPockets:<\/b> These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.biggerpockets.com\/blog\/real-estate-872\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this article So, you want to know how to rent your house out. Maybe you\u2019re upsizing or downsizing, moving away for work, or just want to buy another primary residence and take advantage of low-money down loans. Whatever your reason, renting out your primary home can be a phenomenal way to get into the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":10526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2024\/01\/872-web.jpg","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-10525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/10525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=10525"}],"version-history":[{"count":1,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/10525\/revisions"}],"predecessor-version":[{"id":10527,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/10525\/revisions\/10527"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/10526"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=10525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=10525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=10525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}