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How do you become a landlord?

Updated: 8/17/2019
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14y ago

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Anytime you rent a home that you own to someone else you are that person's landlord. The person you are renting to is known as your tenant. There may be local or state requirements, such as licensing, etc. You can list your property on many online or printed sites. You may want to consider accepting Section 8 vouchers (Housing Choice Voucher Program) as you are likely to have better tenants, a paradox. HCVP tenants are screened and are not allowed into the program if they have a history of violent crimes or are registered sex offenders. Always have a system by which you can check your potential tenants' background. You can hire a service for this for a charge of about $30 per potential tenant, something you can charge back to the applicant as an application fee. If you do accept HCVP vouchers you can list your property with the Housing Authority in your area, increasing your chance of keeping your place occupied by good tenants.

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