Posted on: 22 September 2017Share
Finding tenants can be one of the most difficult parts of being a landlord. The wrong tenants can damage property, fail to stay current on rent, and can end up costing landlords thousands of dollars in profits. For rental property owners, responsible tenants are a must for being successful but they are not always easy to find. This is where real estate agents can help. Here are three reasons to consider hiring a real estate agent to fill rental vacancies:
Marketing The Property
When it comes to attracting the right tenants, marketing is incredibly important. Creating a good listing that will attract the right tenant is something that real estate agents are able to do well. They also have the resources to place the listing on multiple listing services. This allows for more potential tenants to see the rental. Real estate agents also have access to other real estate agents who may have clients looking for a place to rent. Real estate agents can put the rental property in the multiple listing services, or MLS, where it can be viewed by other real estate agents and real estate professionals.
Showing The Property
Another reason to consider hiring a real estate agent is that they can take the burden of showing the rental property to potential tenants off the shoulders of the owner. The more potential tenants who look at the property, the more likely it will be rented quickly. Real estate agents have the flexible schedules that allow for multiple showings. They can also help owners determine the state of the rental market in their area. The market value of the rental may be higher than the property owner expects. Real estate agents can help the owner get the highest rent possible without letting the property sit on the market for long periods of time.
It Can Be Affordable
While hiring a real estate agent is not going to be the right choice for every rental property, for many it's a choice that works. It's also something that can be relatively affordable. Most real estate agents will either charge a commission based on the yearly amount of rent collected, usually around 10 percent, or will charge a fee equal to around one month's rent. Considering that a real estate agent will do all of the legwork in addition to writing up the lease agreement and potentially getting their client more rent, hiring an agent can be a good financial decision.
There are plenty of reasons to hire a real estate agent to find tenants for rental properties. They are able to market the properties in order to find the right tenants. They also are able to show the property as much as needed. Real estate agents can also help ensure that the landlord is charging the appropriate amount of rent for the market.