There was a time when I received a request to rent out a house that became vacant when my parents moved to a nursing facility. After considering the options of selling or renting, we decided to go with renting. When putting a house up for rent for the first time, knowing the steps can be helpful.

Starting with the rent, according to Zumper data, the average rent in Burlington in June 2026 is $2,150. This is about $200 higher than the national average. A one-bedroom unit is around $1,850, while a two-bedroom unit is about $2,150. Even within Burlington, there is a price difference between downtown and the outskirts, so it's better to find and compare a few similar listings based on the exact location.

To determine the right amount, it's advisable to select four or five listings in the same neighborhood with a similar number of bedrooms and compare them side by side. By comparing downtown listings with those on the outskirts under the same criteria, you can get a sense of the price differences. If you set the rent too high and the vacancy lasts too long, the loss could outweigh the benefits of lowering the rent slightly to fill it quickly.

Once you've set the rent, it's time to find tenants. You can choose between listing the property on rental sites like Zumper or Zillow Rental Manager, or going through a local real estate agent. If you list it yourself, the more detailed your photos and descriptions, the better the quality of inquiries you'll receive.

When inquiries come in, it's essential to conduct a screening before signing a lease. The basics include checking credit scores, proof of income, and previous rental history. Many landlords look for income that is at least three times the rent, and it's also wise to ask previous landlords about any late payments. If it's a home you have an emotional attachment to, like my parents' house, you might be tempted to skip thorough screening, but being meticulous can help avoid issues later on.

When receiving applications, it's a good idea to request a copy of a government-issued ID, recent pay stubs for the last two months, or bank statements, and contact information for previous landlords. Relying solely on verbal assessments can lead to discrepancies later.

The lease agreement should include the rent amount, payment due date, security deposit, lease term, maintenance responsibilities, and pet policies without fail. Any agreements made verbally will not hold up in case of disputes.

Signing the lease doesn't mean the landlord's responsibilities end. In Vermont, landlords are obligated to maintain basic systems like heating, plumbing, and electricity in working order. Creating a condition checklist before move-in and recording it with the tenant can reduce disputes over the security deposit later.

Regarding the security deposit, while Vermont does not set a maximum limit, the city of Burlington has an ordinance that caps the deposit at one month's rent. This means that city ordinances can be stricter than state laws, so it's important to be aware that standards may vary by city within Vermont. The return deadline is within 14 days after the tenant has completely moved out, and this period starts once you receive a written notice of the new address.

If rent is not received, you must first send a minimum 14-day payment or eviction notice. If the overdue amount is paid within this period, the lease remains in effect.

These specific criteria can vary by city or town even within the same state, so it's safer to double-check Burlington's ordinances before signing a lease.

If you are moving from another state, there's one more thing to consider. Property taxes and winter heating costs in Vermont may differ from those in your previous state, so calculating profits based solely on rent can lead to discrepancies in actual earnings. It seems more realistic to recalculate actual profits after adding property taxes, insurance, and winter maintenance costs. If the purpose is investment, it's wise not to assume that property values will continue to rise and to consider variables like vacancy periods and repair costs as well.

The information provided here is general and it is advisable to consult with a lawyer or real estate professional before finalizing any contracts.