Introduction to Renting Out Your House
We understand that turning your property into a rental in Des Moines, Washington can be both exciting and intimidating. As the housing market continues to evolve, more homeowners are discovering the financial benefits of becoming landlords. Renting out your house creates a steady stream of passive income while building long-term wealth through property appreciation. Whether you're relocating temporarily, diversifying your investment portfolio, or generating additional revenue from an underutilized property, becoming a landlord offers numerous opportunities. In this comprehensive guide, we'll walk you through everything you need to know about how to rent your house successfully in Des Moines.
Pros and Cons of Renting Out Your House
Before diving into the process of renting your house Des Moines Washington, we believe it's essential to weigh the advantages and disadvantages.
Pros of Renting Out Your House:
- Steady Income Stream - We've found that rental properties provide reliable monthly cash flow that can supplement your existing income or even cover your mortgage payments.
- Property Appreciation - While generating rental income, your Des Moines property will likely continue to appreciate in value over time.
- Tax Benefits - As landlords, we can deduct numerous expenses including mortgage interest, property taxes, insurance premiums, maintenance costs, and even depreciation.
- Equity Building - Your tenants essentially help pay down your mortgage, building your equity without additional out-of-pocket expenses.
- Portfolio Diversification - Adding rental property to your investment mix provides diversification beyond stocks and bonds.
- Inflation Hedge - Rental income typically increases with inflation, providing protection against rising costs.
Cons of Renting Out Your House:
- Tenant Issues - We've experienced that dealing with problematic tenants can be stressful, from late payments to property damage.
- Maintenance Responsibilities - You'll need to address repairs promptly, which can be time-consuming and costly.
- Vacancy Risks - Periods without tenants mean no rental income while still paying the mortgage and other expenses.
- Legal Compliance - We must navigate complex landlord-tenant laws, fair housing regulations, and local ordinances specific to Des Moines.
- Property Management Demands - Being a landlord requires time and attention, from screening tenants to handling emergencies.
- Financial Uncertainty - Market downturns could affect rental rates and property values in the Des Moines area.
Is Renting Your House Right for You?
We know that deciding whether to rent your house Des Moines Washington requires honest self-assessment. Not everyone is cut out for landlord responsibilities.
Financial Readiness Assessment:
Before renting your property, we recommend ensuring you have:
- Sufficient emergency funds to cover 3-6 months of mortgage payments during potential vacancies
- Capital reserves for unexpected repairs (typically 1-2% of property value annually)
- Financial stability to absorb occasional late rent payments
Time and Commitment Considerations:
We've learned that successful landlords need to:
- Respond promptly to tenant maintenance requests
- Dedicate time to proper tenant screening and property showings
- Stay updated on changing landlord-tenant laws in Washington state
- Regularly inspect and maintain the property
Emotional Factors:
We encourage you to consider:
- Your emotional attachment to the property and ability to see it as a business asset
- Comfort level with strangers living in your former home
- Tolerance for dealing with tenant complaints or conflicts
When deciding whether to rent your house or sell it, we also recommend analyzing the Des Moines housing market trends. Currently, the rental demand in Des Moines remains strong due to its proximity to Seattle and relatively more affordable housing options.
Preparing Your House for Rental
Once you've decided to rent your house Des Moines Washington, we need to prepare the property to attract quality tenants and comply with legal requirements.
- Check Mortgage and Insurance Requirements
We always start by reviewing your mortgage agreement to ensure renting is permitted. Additionally, we'll need to convert your homeowner's insurance to a landlord policy, which typically costs 15-20% more but provides essential coverage for rental scenarios.
- Understand Local Regulations
We must research Des Moines and Washington state rental regulations, including:
- Zoning laws and rental permit requirements
- Washington state landlord-tenant laws
- Local housing codes and safety requirements
- Lead paint disclosure requirements for homes built before 1978
- Conduct a Thorough Property Inspection
We recommend hiring a professional inspector to identify any issues that need addressing before tenants move in.
- Make Necessary Repairs and Upgrades
Based on the inspection, we'll need to:
- Fix any safety hazards immediately (electrical, plumbing, structural issues)
- Repair or replace malfunctioning appliances
- Address cosmetic issues like chipped paint, worn carpeting, or damaged flooring
- Ensure all locks, windows, and doors function properly
- Deep Clean the Property
We always ensure a thorough professional cleaning, including:
- Carpet cleaning or replacement
- Air duct and dryer vent cleaning
- Sanitizing bathrooms and kitchen surfaces
- Window cleaning inside and out
- Document Property Condition
We always take detailed photos and videos of the property's condition before renting. This documentation helps resolve potential disputes about damage versus normal wear and tear.
Setting the Right Rent Price
Determining the optimal rental price for your Des Moines, Washington property is crucial to maximizing returns while minimizing vacancy periods. We've developed a systematic approach to help you set the right rent price.
Research Local Market Rates
We begin by thoroughly researching comparable rentals in Des Moines and surrounding neighborhoods. This involves:
- Analyzing current listings on platforms like Zillow, Redfin, and Apartments.com
- Noting rental prices for similar properties in terms of size, condition, and amenities
- Identifying price ranges for different property types (single-family homes, townhouses, etc.)
- Recognizing seasonal rental trends specific to the Des Moines market
Factor in Property-Specific Elements
We then adjust our baseline figures based on your property's unique characteristics:
- Location advantages (proximity to schools, parks, shopping, and commuter routes)
- Property size and layout (square footage, number of bedrooms/bathrooms)
- Special features (updated kitchen, hardwood floors, fenced yard, garage)
- Overall condition and age of the property
Rental Price Calculation Formula
While every property is unique, we often use this basic formula as a starting point:
Base Rent = (Average Market Rate for Similar Properties) + (Value Adjustments for Special Features) - (Deductions for Deficiencies)
Consider Your Financial Goals
We also analyze how different rental prices affect your financial outcomes:
- Calculate your monthly carrying costs (mortgage, taxes, insurance, HOA fees)
- Estimate maintenance expenses (typically 1-2% of property value annually)
- Factor in property management fees if applicable (usually 8-12% of monthly rent)
- Determine your desired cash flow and return on investment
Marketing and Listing Your Rental Property
Once we've prepared your Des Moines property and set the right price, it's time to create an effective marketing strategy to attract quality tenants.
- Capture Professional-Quality Photos
We always start with high-quality visual content:
- Use a wide-angle lens to showcase room dimensions
- Ensure proper lighting (open curtains, turn on all lights)
- Stage rooms appropriately to demonstrate functionality
- Include exterior shots highlighting curb appeal and outdoor spaces
- Create a Compelling Property Description
We craft descriptions that:
- Lead with the most attractive features of your Des Moines property
- Highlight neighborhood amenities (parks, schools, shopping)
- Specify important details (square footage, bedroom/bathroom count, parking)
- Include keywords like "rent your house Des Moines Washington" for better online visibility
- Clearly state pet policies, lease terms, and rental requirements
- List on Multiple Platforms
We maximize exposure by posting on:
- Major rental websites (Zillow, Apartments.com, Redfin, Trulia)
- Local classifieds (Craigslist, Facebook Marketplace)
- Social media groups specific to Des Moines housing
- Host Strategic Open Houses
We organize efficient showing events:
- Schedule during optimal times (weekends, early evenings)
- Group showings to create sense of competition
- Prepare information packets for serious prospects
- Have rental applications available on-site
- Respond Promptly to Inquiries
We ensure all inquiries receive responses within 24 hours, preferably sooner.
Screening Tenants and Signing Leases
Finding reliable tenants is perhaps the most crucial aspect of successfully renting your house Des Moines Washington. We've developed a thorough screening process that helps identify dependable renters while complying with fair housing laws.
Effective Tenant Screening Practices:
- Pre-Screening Phone Conversations - We conduct initial phone interviews to assess communication style, rental timeline, and basic qualifications before scheduling showings.
- Comprehensive Rental Application - Our application collects essential information including:
- Full legal name and contact information
- Social Security number for background checks
- Current and previous addresses with landlord contact information
- Employment history and income verification
- Personal and professional references
- Income Verification - We verify that applicants earn at least 3x the monthly rent through:
- Recent pay stubs
- Employment verification letters
- Tax returns for self-employed applicants
- Credit History Check - We analyze credit reports to assess financial responsibility, looking for:
- Credit score (typically seeking 650+)
- Payment history and outstanding debts
- Bankruptcies or collections
- Rental-specific debts or evictions
- Rental History Verification - We contact previous landlords to inquire about:
- Payment reliability
- Property care and cleanliness
- Lease compliance
- Whether they would rent to the applicant again
Creating a Solid Lease Agreement:
Once we've selected qualified tenants, we prepare a comprehensive lease that protects your interests while clearly outlining expectations:
Essential Lease Components:
- Names and Contact Information - All adult occupants must be named as tenants and signatories.
- Property Details - Complete address and description of the rental unit, including any storage or parking spaces.
- Term and Renewal Conditions - Specific start and end dates, with clear renewal terms.
- Rent Details - Amount, due date, acceptable payment methods, late fees, and grace periods.
- Security Deposit - Amount, conditions for return, and timeline for processing after move-out (following Washington state requirements).
- Maintenance Responsibilities - Detailed breakdown of landlord versus tenant maintenance duties.
- Rules and Restrictions - Clear policies regarding:
- Pets (deposits, restrictions, additional fees)
- Smoking
- Noise limitations
- Guest policies
- Property alterations
Managing Your Rental Property as a Landlord
After successfully renting your house Des Moines Washington, we focus on effective property management to maintain tenant satisfaction, protect your investment, and maximize returns.
Establishing Effective Rent Collection:
We implement streamlined payment systems that benefit both landlords and tenants:
- Set up online payment portals through services like Avail, TurboTenant, or Zillow Rental Manager
- Offer automatic payment options to reduce late payments
- Maintain clear records of all transactions
- Establish and consistently enforce late payment policies
Developing a Maintenance Strategy:
We believe preventative maintenance saves money and tenant relationships:
- Seasonal Maintenance Schedule:
- Spring: HVAC servicing, gutter cleaning, exterior inspection
- Fall: Furnace check, weatherization, roof inspection
- Quarterly: Change HVAC filters, test smoke/CO detectors
- Emergency Response Plan:
- Maintain a list of trusted 24/7 contractors for plumbing, electrical, and HVAC emergencies
- Establish clear communication protocols for after-hours issues
- Document emergency procedures for tenants
Managing Tenant Relations:
We foster positive relationships through:
- Responsive communication (responding to inquiries within 24 hours)
- Clear boundaries and professional interactions
- Regular property check-ins (with proper notice)
- Fair and consistent policy enforcement
Understanding Washington's Eviction Process:
While we work to avoid evictions, we're prepared when necessary:
- Follow Washington's specific notice requirements (typically 14-day notice for non-payment)
- Document all lease violations thoroughly
- File proper paperwork with King County courts
- Consider hiring an attorney specializing in landlord-tenant law
- Never attempt "self-help" evictions (changing locks, removing belongings, etc.)
Tax Benefits and Financial Considerations for Renting Your House
When you rent your house Des Moines Washington, we want you to take full advantage of the significant tax benefits available to landlords.
Key Tax Deductions for Rental Property Owners:
| Deduction Category |
What You Can Deduct |
Special Considerations |
| Mortgage Interest |
Interest paid on loans to buy, build, or improve rental property |
One of the largest deductions; fully deductible for rental properties |
| Property Taxes |
Annual property taxes paid to local government |
Fully deductible as a rental expense |
| Insurance Premiums |
Landlord insurance, flood insurance, liability coverage |
Premiums can be deducted in the year they are paid |
| Depreciation |
Annual write-off for the property's structure (not land) |
Residential rentals depreciated over 27.5 years; significant tax benefit |
| Repairs & Maintenance |
Painting, fixing leaks, replacing broken items |
Must maintain property, not improve it; immediately deductible |
| Professional Services |
Property management fees, legal fees, accounting services |
Fully deductible in the year paid |
Understanding Depreciation:
We consider depreciation one of the most valuable tax benefits for rental property owners:
- Allows you to deduct the cost of the building over 27.5 years
- Land value is not depreciable, only the structure
- Example: On a $400,000 Des Moines property where the building represents $320,000, you could deduct approximately $11,636 annually
- Depreciation creates a "paper loss" that can offset rental income even when your property is cash-flow positive
Record-Keeping Best Practices:
We emphasize the importance of meticulous documentation:
- Maintain separate bank accounts and credit cards for rental activities
- Save all receipts and invoices for at least seven years
- Track mileage for all property-related travel
- Document the purpose of expenses (repairs vs. improvements)
- Take photos before/after improvements and repairs
Common Mistakes to Avoid When Renting Out Your House
Through our years of experience helping property owners rent their houses in Des Moines Washington, we've identified several critical mistakes that can undermine success.
Inadequate Tenant Screening
- The Mistake: Rushing the screening process or relying solely on gut feelings when selecting tenants.
- Why It Happens: Pressure to fill vacancies quickly or discomfort with asking for sensitive information.
- How to Avoid It: We implement a comprehensive screening process including credit checks, income verification, rental history, and background checks.
Underestimating Maintenance Costs
- The Mistake: Failing to budget adequately for ongoing maintenance and unexpected repairs.
- Why It Happens: Optimistic financial projections that don't account for the reality of property ownership.
- How to Avoid It: We recommend setting aside 1-2% of the property value annually for maintenance and establishing an emergency fund for major repairs.
Inadequate Insurance Coverage
- The Mistake: Maintaining a standard homeowner's policy instead of proper landlord insurance.
- Why It Happens: Unawareness of the different coverage needs or trying to save on premiums.
- How to Avoid It: We ensure you obtain comprehensive landlord insurance that covers property damage, liability protection, and loss of rental income.
Non-Compliance with Laws and Regulations
- The Mistake: Overlooking local, state, and federal laws governing rental properties.
- Why It Happens: The complex and evolving nature of rental regulations in Washington state.
- How to Avoid It: We stay current on Des Moines and Washington state landlord-tenant laws, fair housing regulations, and property codes.
Poor Lease Agreements
- The Mistake: Using generic, outdated, or incomplete lease agreements.
- Why It Happens: Downloading templates that aren't specific to Washington state requirements.
- How to Avoid It: We use comprehensive, state-specific lease agreements that clearly outline all terms, responsibilities, and policies.
Key Takeaways: Renting Out Your House Successfully
As we've explored the comprehensive process of how to rent your house Des Moines Washington, let's summarize the essential points to ensure your success as a landlord:
- Thorough Preparation Is Critical - We've found that investing time and resources in preparing your property pays dividends through higher rental rates and better tenants.
- Strategic Pricing Maximizes Returns - We recommend researching the Des Moines rental market thoroughly to set competitive rates that attract quality tenants while maximizing your income.
- Tenant Screening Is Your Best Protection - We cannot overemphasize the importance of comprehensive tenant screening, including credit checks, background checks, income verification, and rental history.
- Legal Compliance Prevents Costly Issues - We prioritize understanding and following Washington state and Des Moines rental regulations, fair housing laws, and proper lease documentation.
- Proactive Management Preserves Your Investment - We advocate for regular inspections, prompt maintenance, and clear communication with tenants to protect your property value.
- Financial Organization Optimizes Tax Benefits - We emphasize the importance of meticulous record-keeping and understanding rental property tax deductions to maximize your financial returns.
We proudly serve landlords throughout the surrounding areas and King County, including:
Ready to start your landlord journey? Contact us today to learn more about our property management services or for personalized advice on renting your Des Moines property.
Conclusion: Ready to Rent Your House?
As we reach the end of our comprehensive guide on how to rent your house Des Moines Washington, we hope you now feel equipped with the knowledge and confidence to embark on your landlord journey. The decision to convert your property into a rental represents a significant opportunity to build wealth, generate passive income, and diversify your investment portfolio.
Throughout this guide, we've walked you through every critical step of the rental process—from preparing your property and setting the right price to finding quality tenants and managing your investment for maximum returns. We've shared our expertise on navigating Washington state's specific landlord-tenant laws and highlighted tax advantages that can significantly improve your bottom line.
Remember that successful property management is both an art and a science. It requires attention to detail, consistent application of best practices, and a willingness to learn and adapt. While the responsibilities of being a landlord are substantial, so too are the potential rewards when done correctly.
We encourage you to take the next step in your landlord journey by:
- Consulting with a real estate professional familiar with the Des Moines rental market
- Speaking with a tax advisor about optimizing your rental property for tax benefits
- Researching local property management companies if you prefer a hands-off approach
- Joining landlord associations to network and stay informed about industry trends
Renting your house in Des Moines, Washington can be a rewarding venture that provides financial benefits for years to come. With proper preparation, realistic expectations, and a commitment to professional management practices, you can join the ranks of successful landlords who have transformed their properties into valuable income-generating assets.
