When it comes to moving out of your starter home, or even outgrowing one that was a long-term residence, you have two options: sell it or rent it out. A lot of factors go into deciding which path to choose. Renting it out can provide some extra income, especially if it's currently a buyers market. As you put your home up for rent, consider these things: 

 Get it in great shape. 

To attract great renters and the rent price you're asking for, make sure the house is in tip-top condition. This means a fresh coat of paint, carpet cleaning, fixing all of those little pesky items on your to-do list like tightening screws in the rarely used top cupboards, and cleaning behind the appliances. The better shape it's in before your tenants move in, the less likely they are to have any issues. This often saves a lot of hassle. 

Don't forget some of the more practical tasks of rental preparation. Replace batteries in the smoke detectors, replace the light bulbs and change out furnace filters. Also change all of the locks on the home so that only you and the tenant have working keys.

 Decide if you'll self-manage or use a property manager. 

Even though you have to pay a property manager a percentage of the rent price, the small cost might be worth it. That's especially true if you live more than 30 minutes away, have a busy schedule, or want this to be passive income. The property manager can handle the day to day tasks that might appear.

Fees and services vary, so ask around for referrals and conduct interviews to determine which property manager is best to work with. Additionally, if you opt to self-manage, leaving a few things in the house like light bulbs, batteries, and extra filters will enable to the tenants to handle small matters on their own. This means they won't have to bother you at all times. Sometimes, the tenant even likes to do such chores, like lawn maintenance, themselves.

 Create a lease and change the home insurance policy. 

You will want a strong lease to protect yourself and your property. The lease can also lay out the rights of the tenants, per your state's laws, that you must follow.