I recently heard that my parents' long-time home in Hartsdale is being organized by my siblings and me. They debated for weeks whether to sell or rent it out. This situation is more common than you might think. Selling brings in a lump sum, but renting generates monthly cash flow, and if property values increase later, you can sell then. Before making a decision, I want to outline what to prepare first if you choose to rent it out.

The first thing to determine is the rental price. Hartsdale, located in Westchester County, is quieter and has good school districts, making it a popular area for Korean families. According to RentCafe, the average rent in Hartsdale as of February 2026 is around $2,757. In simpler terms, if the house is similar in size and condition, you should price it close to this range to avoid losing potential tenants. Pricing too low can lead to losses, while pricing too high can result in longer vacancy periods. The most reliable method is to search and compare a few nearby listings yourself.

Once you've set the price, you move on to the process of finding tenants. It's standard to post photos and descriptions on sites like Zillow, Apartments.com, and Zumper, and it's also helpful to utilize Korean community bulletin boards. Photos taken during the day with natural light and when the rooms are tidy tend to get much better responses. Clearly stating the number of bedrooms and bathrooms, parking availability, and pet policies in the description can help reduce unnecessary inquiries.

When inquiries start coming in, it's time for the screening phase. If the term is unfamiliar, think of screening as the process of verifying whether this person can be trusted with your property. You'll typically look at their credit score, proof of income (usually requiring income to be at least three times the rent), and rental history from previous landlords. These three factors are the basics. Credit scores and income can be verified through documents, and you can find out if there were any late payments or disputes by calling previous landlords. It's also good to remember that the same criteria must be applied to all applicants when receiving applications.

Once a tenant is selected, you'll write a lease agreement. This should include the lease term, monthly rent and due date, security deposit amount, pet policies, who is responsible for repairs, who pays for utilities, and the conditions for termination and renewal of the contract. Verbal agreements are useless if disputes arise later.

Before bringing in a tenant, there's one more thing to take care of. Document the condition of the home with detailed photos before they move in. Taking pictures of the walls, floors, and appliances beforehand will serve as evidence when it comes time to deduct from the security deposit. In simpler terms, to avoid disputes later, make sure to have photographic evidence in advance. In areas like Hartsdale, where many older single-family homes exist, it's not uncommon for houses to have been built before 1978, which means you must provide tenants with lead paint disclosure documents according to federal law. You should also consider whether to manage the property yourself or hire a management company. Managing it yourself can save costs but requires more time, while hiring a management company means paying a fee but less hands-on work. Whichever option you choose, make sure to have landlord insurance to protect against risks like fire or damage.

New York has relatively strict tenant protection regulations. Security deposits cannot exceed one month's rent, and when a tenant vacates, you must return the remaining deposit and deductions within 14 days. If you miss this deadline, you may lose the right to deduct any amount from the deposit. When needing to evict a tenant for non-payment, you cannot simply lock them out or remove their belongings immediately. You must issue a 5-day notice followed by a 14-day notice, and if that doesn't resolve the issue, you must go through court procedures. In cases of lease violations, you follow a 10-day notice to cure, then a 30-day notice to vacate. Skipping these steps can put landlords at a disadvantage.

This covers the steps to prepare for renting out your first home in Hartsdale. However, regulations in New York and Westchester County are continually changing, and specific provisions may vary by locality. This article is intended to provide general information, and it's advisable to consult a real estate professional or rental law attorney before proceeding with any actual contracts.