Using a rental agent to list and show your vacant property can be a huge time and money saving step. While a rental agent does generally take a certain percentage of the rental income, the time saved by letting them handle the process of choosing a tenant, marketing, and other duties will definitely offset the cost. Here is a breakdown of why it might be advantageous for you to hire a rental agent:
- Choosing a tenant. A rental agent can handle the entire process of finding and choosing a tenant for your vacant properties – a process that is a hassle for many landlords. Because most experienced agents already have a procedure established, the risk of renting to an unqualified tenant is low, thereby reducing the hassle of eviction later down the road. This can also help with reducing late payments, damage to property, etc.
- Property management. A rental agent can also take care of everyday management of the property, including small repairs, renter questions, and any conflicts that might arise.
- Marketing. Listing ads, using social media like Facebook, or creating a website are all some of the tasks that a rental agent can do to market your properties.
- Collection. For landlords who live out of the state from their rental properties, having a rental agent who can collect rent is an invaluable benefit. The agent can coordinate with the renter to collect the rent – usually either in person or in the tenant’s mailbox. The rental agent can then deposit the income directly into whatever account the landlord has set up for this purpose.
- Saving time and money. By hiring a rental agent, landlords can focus on other parts of their lives while the agents handle the choosing of tenants, marketing of the business and vacant properties, rent collection, and minor property management issues. For those landlords who do not live locally, a rental agent is an important and effective solution.