How to Rent Out Your House in Nashville

Whether you're relocating for work, upgrading to a larger home, or downsizing to simplify life, there are plenty of reasons to rent out your house for the first time. Maybe you're holding on to your Nashville property with hopes of rising market values or you have an emotional attachment to a family property.

Whatever your motivation for renting out your house, becoming a landlord can offer real advantages, generate extra income, and help you reach your financial goals—if you approach it the right way. Renting out your home and creating a rental home can generate passive income, provide valuable real estate tax deductions (like mortgage interest), and help you build wealth through property appreciation. But there’s more to managing a rental than just handing over the keys and collecting rent payments.

To rent your property for the first time and earn rental income, you’ll need a strong lease agreement that complies with local and state laws. That means understanding your responsibilities, staying current with landlord-tenant regulations, and regularly reviewing your lease to keep it up to date.

You’ll also want to prepare for the practical side of rental property management. This includes budgeting for upkeep exspenses, utilities, and fufilling maintenance requests, and ensuring your property is always in compliance with housing laws. Make sure you understand your mortgage obligations and are ready to respond to tenant issues quickly and legally. The passive income benefits of being a first time landlord are real—but only if you manage your property with care and intention.

To send you in the right direction and give you a head start, we at Brentwood Square Management put together 7 essential tips for new landlords. Avoid common mistakes, protect your investment, and feel confident renting out your Nashville home.

Understand Your Role as a Landlord

The first step to renting out your home, for any new landlord, is to understand that owning a rental property involves far more than just collecting rent or signing a lease. It comes with a range of responsibilities that require time, knowledge, and attention to detail.

As a property owner, some of the most important aspects you’re responsible for ensuring rent is paid on time and consistently, staying on top of maintenance and keeping the rental property in good condition, understanding tax deductions and insurance policies available to landlords, and staying compliant with all local and federal landlord-tenant laws. It's important to find a landlord insurance policy rather than a homeowner's, as the landlord's insurance will protect you from common landlord issues.

Tenant screening is one of your most critical duties. A thorough screening process helps you find reliable renters by evaluating their income, credit score, employment history, rental background, and criminal record. Choosing the right tenants can make or break your rental experience, reducing the likelihood of late payments, property damage, or legal issues.

You’ll also need to be manging financial factors such as whether your rent price aligns with tenant affordability, and how property taxes may impact your cash flow.

Finally, another critical aspect to be mindful of is fair housing laws and other applicable laws relevant to rental housing. Under the Fair Housing Act, landlords must avoid questions or practices that discriminate based on race, color, religion, national origin, sex, familial status, or disability. Staying compliant isn’t just about avoiding legal trouble—it’s about creating a fair and professional rental process.

Other responsibilities you'll be managing as a landlord include:

• Marketing your vacant unit.
• Collecting rent every month.
• Responding to maintenance issues.
• Dealing with tenant’s complaints.
• Providing financial reports.
• Carrying out routine maintenance.
• Understand your legal obligations.

Tennessee landlords have certain legal responsibilities under Tennessee law (Tenn. Code Ann. Title 66, Ch. 28). Other legal obligations you’ll have as a Tennessee landlord include:

• Providing tenants with mandatory disclosures.
• Observing the landlord entry rules.
• Observing restrictions on “visual clutter” and inoperable automobiles on the premises.
• Observing the provisions of the Fair Housing laws.
• Following the proper eviction procedure when removing a tenant.

Get the Property Rent Ready

Now you can get your Nashville rental renter ready after understanding your obligations. You’ll need to make sure that your rental property looks attractive in the eyes of potential tenants so that they want to rent the house from you. Here are some tips:

• Give the home a thorough clean.
• Repaint tired looking walls.
• Revitalize the yard.
• Get rid of personal items.
• Take care of all repairs.
• Make any renovations you feel are right.

Marketing the Property

Now with the rental property looking great, you can start looking for a tenant to occupy the home. While signs may have worked in the past for when renting out your house, that isn’t the only method to successfully advertise a home.

You’ll need to market your property in a variety of ways: bulletin boards, social media, and real estate listing sites. Of course, the more real estate marketing platforms you use, the more the exposure your property's listing will gain! Take advantage of digital tools, mobile apps, and monitor the detailed information they offer, like click through rates and listing traffic so you can attract new tenants.

Make sure to draft an enticing real estate ad that will have a high click through rate. It should include high quality photos, a walk-through HD video, as well as a detailed (yet concise) description of the property. Make sure your listing includes the attractive aspects of your property that most tenants would enjoy, like air conditioning and other amenities, easy access to attractions, or additional benefits like updated smart home features.

Tenant Screening Matters: Protect Your Property, Reduce Risk

Choosing the right tenant is one of the most important steps in successful property management. Look for renters with a steady financial situation, strong credit, a solid rental history, and no criminal history. Taking the time to carefully screen applicants may seem time consuming and tedious in the short-term, but it can save you from far more costly issues down the line, protecting your rental home.

If the tenant fails to pay rent on time, that means you're losing income, so it's crucial to find a tenant with the ability to pay rent punctually.

Maintaining the property is just as important. Respond promptly to repair requests and stay on top of regular upkeep to keep your rental in great shape and your tenants satisfied.

Equally essential is your responsibility to follow the Tennessee fair housing laws and local landlord tenant laws. This means managing all prospective tenants fairly and without discrimination based on race, color, religion, national origin, sex, familial status, or disability.

By staying compliant and attentive to state and local laws, you create a better rental experience for your tenants—and protect your investment in the long run so you can generate income when renting out your house.

Determine the Right Rental Price

But before the tenant moves in, you need to set a competitive rent price. This is crucial to attracting qualified tenants and managing your investment return. Price it too high, and your long-term rental property may sit vacant for weeks or months. Price it too low, and you risk leaving money on the table or attracting tenants who may not value the property.

One common guideline is the 1% rule—your monthly rent should ideally be around 1% of the property’s purchase price. For example, if you bought your rental home for $150,000, a rent of approximately $1,500 per month might be appropriate. But this is just a starting point and doesn’t account for local trends, demand, or neighborhood characteristics.

That’s where working with a professional property management company can make a real difference. Property managers have in-depth, up-to-date knowledge of your local rental market. They understand how factors like school districts, neighborhood amenities, walkability, and public transit access affect what tenants are willing to pay.

A well-priced rental means shorter vacancy periods, better tenant retention, and ultimately, stronger long-term returns. You may also want to consider charging late fees for missed payments, if legal in your state, or a one time fee for tenants with furry friends to protect your investment. All of these considerations should be detailed in the lease agreement. Additionally, you should consider what type of renter's insurance your lease agreements will require when renting out your house.

Whether you conduct your own research or partner with a property management expert, getting the rent right is one of the most important steps in your rental journey.

Hire a Property Manager

Renting out your house takes more time and effort than many landlords expect—especially as your portfolio grows. From handling tenant's security deposits to maintenance costs & coordination to landlord insurance policies, the day-to-day responsibilities can quickly become overwhelming and it can be hard to stay organized. If you're new to being a landlord or simply don’t have the time to juggle it all, hiring a professional property manager might be the smartest move you make.

A property manager can handle nearly every aspect of a rental investment and tenant management, which allows landlords to enjoy the benefits of property ownership and house renting without the constant stress. Many homeowners who became landlords seek the help of a trusted property manager.

Here are some of the services a property manager provides:

• Marketing and Advertising: Creating and promoting high-quality listings across multiple platforms to reduce vacancy time.
• Screening Tenants: Conducting background checks, credit reports, income verification, and rental history evaluations to place qualified tenants.
• Lease Preparation and Enforcement: Drafting legally compliant lease agreements, handling rental applications, and handling lease renewals or enforcement when necessary.
• Rent Collection: Managing secure and timely rent payments, and following up on late rent payments professionally.
• Property Maintenance and Repairs: Coordinating regular upkeep and track maintenance requests through a maintenance tracking system to keep your property in excellent condition.
• Property Inspections: Conducting routine inspections to ensure your property is being well cared for and giving renters proper notice for visits.
• Financial Reporting: Providing detailed monthly notices and year-end statements to keep you informed about your property's performance, and handling tenant's security deposits.
• Eviction Management: Handling the legal process of tenant evictions, if necessary, to protect your rental.

By partnering with a trusted property manager, you’ll gain peace of mind knowing your rental is being managed professionally—so you can focus on earning rental income and growing your investment, not just maintaining it.

Bottom Line

Being a landlord can lead to significant additional income—but only if the job is done right. Renting out your house takes time, effort, and the right real estate industry and rental market knowledge. If you’re a first-time landlord or if you have previous landlord experience, it’s completely normal to feel overwhelmed at times.

The good news? You don’t have to do it all yourself.

Partnering with a professional property management company like Brentwood Square Management Services, Inc. can take the pressure off your shoulders. We offer full-service property management for owners throughout Nashville, whether you have one rental or a growing portfolio, so you can relax and enjoy your rental income.

Let us handle the day-to-day operations so you can focus on the big picture. Contact us today to learn how we can help you make the most of your investment.