A landlord who hurriedly rented out a house inherited in Jackson regretted it a few months later when the rent started to fall behind after quickly signing a contract with the first person who inquired. The cause was not checking credit scores or income verification before signing. If you are renting for the first time, it's good to remember this order of steps.

Before putting the property up for rent, you should check the condition of the house. Make sure the smoke detectors and carbon monoxide detectors are working, and if there are any repairs needed on the walls or floors, it's best to fix them in advance. Having plenty of photos taken during the day when it's bright will help when you receive inquiries. If there is still a mortgage on the house, it's also wise to check if you need to inform the lender about renting it out.

First, you need to determine the rent amount. The rental prices in Jackson vary slightly by source, but according to Zillow, the median rent is $1,050, and the average for July 2026 according to RentCafe was around $1,096. In simpler terms, this means it's a market that is nearly half as cheap as the national median. You should first check how much similar properties are actually listed for and set your price accordingly. It's also good to decide whether to set the rental period for one year or on a month-to-month basis at this point. If the neighborhood has stable school districts, inquiries from families tend to be consistent, so checking the assigned schools for the property address can be helpful.

Once you've set the rent, it's time to post your advertisement. You can upload photos and details on platforms like Zillow and Zumper, clearly stating the rent amount, security deposit, and move-in date. Scheduling showings for multiple people at once can save time, and establishing a principle of reviewing applications in the order they are received can reduce confusion later on.

When inquiries come in, don't rush to sign a contract; first, you need to conduct tenant screening. If the term is unfamiliar, think of it this way: it's a process to verify whether this person can pay the rent on time in the future. You typically look at three basic factors: credit score, income verification, and previous rental history, with income often needing to be three times the rent. When receiving applications, it's common to collect a small application fee to cover the costs of credit checks and background investigations. Skipping this step can lead to bigger issues later, as seen in the earlier Jackson case. It's safer to wait for the next inquiry rather than accepting applicants with insufficient or unclear documentation.

Once screening is complete, you'll need to draft a lease agreement. This should include the rent amount and due date, the security deposit amount and return conditions, the lease term, maintenance responsibilities, and pet policies. Relying only on verbal agreements can leave you without evidence if disputes arise. Here are the items to include in the contract:

• Rent amount, payment method, late fee criteria
• Security deposit amount and return conditions
• Lease term and early termination conditions
• Maintenance responsibilities and repair request procedures

There are also regulations to be aware of in Mississippi. There is no legal limit on the amount of the security deposit, which is typically set at one to two months' rent. However, the full amount must be returned within 45 days after the tenant moves out, and no deductions can be made without a detailed itemized statement. If rent is not paid, a three-day eviction notice must be sent, and for lease violations, a 14-day notice is required, while a 30-day notice is needed after the lease term ends. When renting out a home, standard homeowner insurance may not be sufficient, so it's advisable to also consider rental insurance, and rental income is reported separately on tax returns, so it's better to keep receipts for related expenses organized. Remember that deductions from the security deposit are limited to actual damages, not general wear and tear, which will help during the final settlement.

This information is general, and it's advisable to consult a real estate attorney before finalizing any contracts. It may feel unfamiliar at first, but if you follow the steps, it can be done without much difficulty.