There may be times when you are unsure whether to sell or rent out a house in Lansdale that you inherited from your parents. Renting is often more advantageous, but selling might also be a better option. There is no single correct answer; it depends on whether you have a mortgage, if you plan to live in the house again, and how you have divided ownership with your siblings.

If you choose to rent, you will receive monthly cash flow and the potential for the property value to increase. However, managing tenants, repair costs, and vacancy periods can be burdensome. Selling provides a lump sum of cash, but you forfeit the future value of the property. Both options have clear pros and cons, so it's wise to take a few weeks to consider market conditions and management factors before making a decision.

If you decide to rent, there are several steps to follow in order. These include setting the rent price, finding tenants, screening applicants, drafting a lease, and understanding legal regulations.

The average rent in Lansdale is $2,017 per month as of February 2026 (according to RentCafe; Zumper did not provide clear local figures, so nearby data was referenced). For a one-bedroom, the average is $1,722, and for a two-bedroom, it's around $2,158 per month. These figures are just starting points and can be adjusted based on the condition of the house and school district. Be cautious not to set the price too high, as this can reduce inquiries.

It is common to recruit tenants through Zillow Rental Manager, local real estate websites, and community bulletin boards. The more specific you are with photos and conditions, the better the quality of inquiries will be. Including details about the number of rooms, school district, and commuting distance can help reduce unnecessary inquiries. Photos taken in natural light during the day tend to get better responses, and having a few predetermined time slots for showings can make scheduling easier.

After inquiries, you will go through a screening process. It's safe to check credit scores, proof of income, and previous rental history. Many landlords use a guideline of three times the rent for income, and it's common to ask previous landlords if the applicant has ever been late on rent. If there are multiple applicants, applying the same criteria to everyone and keeping a record of your evaluation can be helpful later.

The lease should clearly outline the rent amount, due date, security deposit, pet policies, and repair responsibilities. It's also good to include details about utility responsibilities and notice periods for landlord access. Clarifying whether the lease automatically converts to a month-to-month agreement after it ends or if a new lease needs to be signed can also be convenient. It's important to carefully consider each condition, as some may be advantageous while others could be burdensome.

Pennsylvania has a cap on security deposits. The first year can be up to two months' rent, and thereafter it can be one month's rent. The return deadline is 30 days after moving out, and if there are deductions, you must inform the tenant in writing. It's also important to note that security deposits over $100 must be kept in a separate account.

If rent is overdue, you will go through a process of sending a 10-day notice to quit. If the tenant pays the overdue amount within this period, the lease remains intact. If they still do not leave, you will need to go through court proceedings, and it is prohibited to remove their belongings or change the locks on your own.

On the day the tenant moves in, it's advisable to take photos of the house's condition. This can be beneficial later when settling the security deposit. If the house is inherited and holds sentimental value, being thorough in drafting the initial lease can help prevent future disputes. It may also be worth considering rental insurance in addition to standard homeowners insurance.

Tax laws and rental regulations can vary by county. This article is not investment or legal advice, and it is recommended to consult a professional before entering into any contracts.