Here are some general reasons for using agents as a means to procuring tenants:
1. Interviewing prospected tenants can be very frightening especially for new landlords. Agents do this as a matter of course and can generally ascertain a lot more information by experience and asking the right questions.
2. No upfront fee until the house is rented. Agents handle all the initial transactions including property showings, collecting applications, pull out credit reports, verify employment, prepare lease and disclosures and collecting first month rent and deposits in cashier's check.
3. Agents constantly advertising in the newspapers and internet and have more advertising resources than private owners.
4. The agent can give the landlord 'an arm's length distance. Landlords can sometime be taken advantage of by overbearing prospected tenants.
5. Agents have experience of the current open market rental levels and can advise on the best achievable rent applicable, taking into account the condition of the property and market condition.
6. Agents are used to dealing and negotiating with clients to get the best deal for the landlord.
7. Agents are used to seeing all types of property and can often advise on the standard necessary to attract the best quality tenant.
8. Agents have access to existing tenants already in properties with good track records who for one reason or another want to move. Thus providing a more secure and reliable tenancy.
9. Agents are constantly working with a pool of renters and can easy match your property with the prospected tenants.
10. Agents who are members of professional bodies such as National Association of Realtors and California Association of Realtors are regulated and have ongoing training in respect of current legislation and changing areas within the business. In essence, these particular agents are accountable and always endeavor to carry out in a professional and ethical manner.
11. Lastly but very importantly is that agents spend much time showing the property generally after hours and weekends. Many phone calls can be taken on a particular property and sometimes can be very upsetting by over sensitive or demanding tenants. Agents are used to this behavior and take it in their stride.
It is very important to hire an agent who is experienced and specialized in rental properties. I work with landlords and investors on renting, buying and selling investment properties. For more information, please contact me at (626) 922-8408.
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