If a landlord has a property to rent out, he has the option of looking for a tenant on his
own. Instead of exploring this option, he can seek professional help to find the right
tenant. It is advisable to hire a property agent though many landlords are tempted to
save brokerage fees. The consequences of not having a property agent are disastrous
as the landlord ends up with a tenant who proves to be a source of trouble. Hire a
property agent who is an expert in the rental business segment to avoid regrets later.
Best price
Since a real estate agent has the latest updates regarding ongoing rates in various
localities, he is able to provide a tenant who pays the highest rent for the property.
Saving in Cost
A real estate agent can place advertisements on behalf of the landlord at zero cost.
He uses his superior marketing services and network to generate leads. But a
landlord has to spend his money on releasing advertisements in the papers to find a
tenant.
Client base
A real estate agent already has several clients looking for a good rental option and
this saves time and resources. His database is useful.
Undue advantage
A real estate agent handles negotiation with the tenant and ensures the terms and
conditions set by the landlord are not modified by the tenant. When a property agent
is involved, a tenant cannot take any advantage or put forth clauses.
Multiple responsibilities
A real estate agent bears all the responsibilities related to the rental
process. Advertising, showing of the property, tenant screening, preparing the
lease document, and collecting funds are his key duties.
Background check
A property agent digs up the past of a tenant – the relationship he shared with his
previous landlord. He is able to know whether the tenant behaved well with his
earlier landlord, paid rent on time, and maintained the property well or not. Getting
the right tenant is the prime reason why you need to hire a property agent. Seek a
tenant who cares for the property and maintains cordial ties with neighbours.
Employment history
A real estate agent can seek employment details and visit his office to verify facts.
He can speak to his employer and colleagues to know the kind of job he has – full-
time, consultant or contractual. His salary figure gives an idea of his capacity to pay
the monthly rent. Stability and tenure of the job are important considerations.
Transferable clients
Many landlords prefer tenants with transferable jobs as the property gets vacated
after a couple of years. A property agent has a long list of clients with transferable
jobs. Even if they do not get high rent, they are happy because they do not have to
go for litigation to get the property vacated.
Support system
Many aged landlords living on their own need tenants who become their support
system. They want to have a family that takes care of them, do many errands for
them. Their definition of a right tenant includes a person or a family they can
approach during emergencies. Some landlords want to have tenants who take full
care of the property since they live far or abroad. A good, educated, cultured family
is what they need.
Restrictions
Many landlords prefer a family instead of letting it out to bachelors who cause a lot of
trouble. The marital status of a tenant becomes the key consideration. A landlord
can specify what he needs to avoid and what he prefers. Once he defines his
expectations, a property agent can filter out the options and conduct a focused
search.
Real estate agents possess information and technology that landlords do not have.
They lower the risk, negotiate well and ensure quick completion of the transaction.
