Steps to sell and rent

Assess the current market conditions

Determine your financial goals (profit from sale or rental income)

Decide whether to sell, rent, or both

Gather necessary documents (title deed, mortgage documents, etc.)

Consider necessary repairs or improvements

Hire a real estate agent or decide to sell independently

Set a competitive listing price

Stage the home for showings

Take high-quality photos for listings

List the property on multiple platforms (MLS, online listings)

Organize open houses and private showings

Review and negotiate offers

Accept an offer and enter into a purchase agreement

Complete necessary inspections and appraisals

Close the sale and transfer ownership

Determine rental pricing based on market research

Prepare a rental agreement outlining terms and conditions

Advertise the rental property (online listings, social media, etc.)

Conduct tenant screenings (background checks, references, etc.)

Show the property to potential tenants

Select a suitable tenant and finalize the rental agreement

Collect the security deposit and first month’s rent

Conduct a thorough move-in inspection

Provide necessary information regarding utilities and maintenance

Inform relevant authorities (taxes, HOA, etc.) about the change

Update your insurance policy as necessary

Keep records of transactions for future reference

Maintain communication with new owners or tenants if needed

Monitor the real estate market for any changes that may affect future decisions