Filling your rental property can be an extensive process, from preparing the property to finding a Lease Agreement, not to mention finding the perfect tenant. This process takes a lot of time, energy, research and often more money than any of wants to admit. If you however choose to make your life easier it would be recommended to go with a rental realtor. Today I thought we can discuss the pros of listing your rental property with a rental realtor instead of doing it yourself.
You will be surprise how easy you pay their small commission, with a smile.
1. Marketing your Rental Property thought a Rental Realtor
The first thing a rental realtor will do is to start by marketing your rental property for you. This they will do by:
- Creating the best possible advert for your rental property.
- By advertising your rental property to the correct advertising avenues, being traditional or nontraditional
- Making use of their massive database of potential tenants and other realtors – The fundamental key that you as a DIY landlord are missing.
- Realtor also has access to MLS (multiple listing service) system – Which a DIY landlord won’t have.
- Realtors also deal with far more foot traffic of potential tenants.
- Realtor will of course also advertise your rental property through traditional advertising avenues like, Property24, Gumtree, Private Property, est. Simply saving you the time.
2. Schedule Viewings with Prospective Tenants
Your rental Realtor will manage all the communication with prospective tenants. Emailing back and forth is no longer your problem, opening up your days for better things.
3. Showcasing your rental property
No more will your time be wasted, by showing potential tenants the exact space that is on the photos. Instead you can relax and allow your realtor to deal with prospective tenants, communicating and showing of your rental property.
4. Realtors have access to a Large Database and MSL Systems
A realtors job is to interact with individuals dealing specifically with real estate, this allows them to get in touch with potential tenants on a daily bases. Most realtors already have a list of potential tenants, and this list of potential tenants keeps on growing.
As a landlord wanting to fill your space as soon as possible, you should take advantage of this.
5. Realtors know the Market Value
The realtor you choose to use should have some experience in your rental property area. This will allow your realtor to know the market value of rental units within the area and also what your rental property is worth in rent.
Realtors also know what to look for when compiling a rental rate.
The goal for you as a landlord or a realtor is to find the best possible tenants at the highest possible rate, but not allowing the property to sit empty for months at end.
6. Tenant Screening
Realtors will conduct a tenant screening process, this is just to double check that your potential tenants are what they say they are (on paper at least).
7. Drafting a Lease Agreement
All Realtors will have a basic Lease Agreement, this is great for when you are new to the leasing game and also if you have never needed to draft your own Lease Agreement. Knowing that the paper work is done will give you ease at mind – no questions asked.
8. Realtors only get paid once the vacancy is filled
Knowing that you aren’t paying upfront for a possible service is always appreciated. Realtors work on the principle that they only get paid after the vacancy is filled – Thus, after they did their part of the agreement.
Some realtors work on a fix amount, a months’ rent or a yearly rent percentage. How you pay them doesn’t really matter, what matters is that you will most probably be more than happy to pay the small amount for the massive amount of work.
9. Realtors work best for high-end Rental Properties
Your potential tenants looking for high-priced/high-value properties don’t necessary search places like Gumtree. Your typical Gumtree tenants are young couples/families, looking for affordable housing. Your high-end tenants are far more difficult to find. As such I trully recommend if your rental property is above the average rate, you should certainly consider making use of a realtor.
A realtor has the connections a DIY landlord don’t
10. Realtors are helpful when you have more than one vacancy to fill
Spending the time to fill one vacancy is already a lot, spending the time to fill several becomes a full time job. As such give it to the professionals (like Mafadi), let them do what they do best – their job is after all to fill your rental property.
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