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Real Estate Agents To Help Find Rentals – Most people realize that hiring a real estate agent is a good idea if you are planning to buy a home. A real estate agent can help guide you through the home buying process in a number of different ways, from helping you find different properties to look at to helping you negotiate the price. But what you may not realize is that a real estate agent can be incredibly beneficial if you’re looking for rental property instead.
If you are looking to rent an apartment, you should strongly consider working with a professional real estate agent. The following are a number of different ways a real estate agent can help you rent an apartment:
Real Estate Agents To Help Find Rentals
One of the biggest challenges with renting an apartment is finding apartments or homes that are available for rent. Many people will search through listings, hoping that they will find something in the area where they want to live. Some people will even just drive around the area, hoping they’ll find a for-rent sign in someone’s yard.
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A real estate agent will have access to MLS listings of rentals in the area you are searching in. They can help you find different apartments or homes available for rent, so you don’t have to waste countless hours searching online and neighborhood on your own.
Once an agent has identified properties for rent, they can coordinate with the apartment manager, rental company, or landlord to schedule a showing for you. A good estate agent will be able to plan several visits to different rental locations during the same afternoon, so you don’t have to go apartment hunting every day. The whole planning process can be tedious and a real estate agent can save you a lot of time by doing it for you.
Just because you’re not buying real estate doesn’t mean you don’t have a list of wants and needs. A real estate agent will take your wants and needs into account when searching through available rental properties in the area you’re looking for, whether you’re looking for a specific number of bedrooms or access to an on-site parking space.
A lease can be a bit complicated to understand, especially if you are not familiar with all the terms and conditions. A real estate agent will look over your lease to make sure there are no terms and conditions that are unfavorable to you. They will also give you professional advice regarding the rental costs and the deposit required. Remember that a good real estate agent will be familiar with properties throughout the area, which means they will be able to identify both good and bad deals.
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Rental agreements for apartments are not set in stone. As you probably know, when it comes to buying a home, you can negotiate the terms with the seller. What you might not know is that you can do the same with a landlord or property owner when it comes to renting an apartment. A real estate agent can help you effectively negotiate the terms of your lease, whether it’s the rent, security deposit, restrictions or other amenities.
One of the reasons many people don’t even consider hiring a real estate agent when renting an apartment is because they assume it’s not only an unnecessary expense, but one that only home buyers can afford. However, this is generally not true.
Most of the fees associated with finding a suitable rental and helping to negotiate the lease will not be charged to the tenant. Instead, the bulk of these estate agent fees will be charged to the property owner or landlord. They make money for the property owner or landlord by bringing you to them, after all. However, in some cases there may be a small fee to the tenant to ensure you are serious and not just wasting their time.
Estate agents are not just for buyers – they are also for renters. Hiring a real estate agent can help make finding an apartment to rent much easier by helping you save time and money – as well as making the entire process of renting an apartment much less stressful.
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While estate agents are generally associated with the buying and selling of homes, some also engage in rental transactions. This type of agent is often called a letting agent or leasing agent. You may consider hiring a rental agent to find tenants if you are new to renting, live far from your rental, or simply don’t have the time.
Note: This guide is for informational purposes only. , Inc. makes no warranty as to the adequacy of the information contained in or linked to from this guide, or that it complies with applicable, applicable or local laws. Landlord and Tenant laws change rapidly and can be regulated at the federal, state and local levels. This resource is not a substitute for the advice or service of an attorney; you should not rely on this resource for any purpose without consulting a licensed attorney in your jurisdiction.
A rental agent usually assists with the rental leasing process, which involves marketing the property, showing it to tenants, and finally filling the vacancy. Once a tenant has signed a lease, the letting agent’s job is complete. A property manager (for single and multi-family properties), on the other hand, can sometimes assist in the leasing process, but also manages the property full-time.
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Marketing a property and finding tenants can be stressful for property owners – especially in areas where rent increases are more common and there is less chance of a tenant renewing their lease.
Because real estate agents are already skilled at marketing properties, they can be effective at quickly finding tenants for a rental. Here are some benefits of hiring a letting agent:
Many rental agents spend a lot of time writing real estate ads, so they have the resources to create a rental ad that has high-quality photography and a compelling description.
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When renters inquire about a listing, 69% of them expect to hear back from the landlord or property manager within a day.* A successful rental agent will have time set aside in their daily schedule to follow up with potential tenants.
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Although most individual showings don’t take very long, the total travel and preparation time can add up – as can the time spent on showings if a tenant isn’t found right away. Letting agents want flexible schedules that allow them to show properties throughout the day – even on weekends. They can even host a rental open house to help you fill your rental property faster.
Letting agents often spend a lot of their time networking, and will generally be able to find tenants quickly just by word of mouth. They will likely know other letting agents and be able to get leads from them.
The market is constantly changing and a letting agent will know when prices are trending up or down and what the tenant pool is like for your area. They will be able to help you competitively price your rental property to maximize your income while minimizing the risk of the rental becoming vacant because the price is too high.
Letting agents may have access to a tenant screening service. This is one of the main reasons why many hire estate agents for letting. Being able to quickly collect applications and screen potential tenants – and ensure that the next tenant is qualified – is a task that many property owners prefer to leave to someone with experience.
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Most letting agents already have a basic lease agreement template that includes things like the lease term, monthly rent amount, payment due date, security deposit, and standard property use rules. They will be able to work with you to adapt the lease and they can help you when the lease is renewed.
The letting agent fees will vary depending on your location and the services offered. Some letting agents only find tenants, and others may also work as property managers. director of industry outreach, Bret Calltharp, says rental agents typically receive a fee close to one month’s rent to find a tenant. “If that agent then goes on to manage the property, you’ll typically pay a fee of around 10% to 15% of the monthly rent.”
Let’s assume your rent is $1,200 per month. If a rental agent requires a month’s rent to find a tenant, you pay them $1,200 when a lease is signed. Should you continue to use them as your property manager and agree to pay them 10% of the monthly rent, you will end up paying $120 each month ($1,200 x 0.10) for their assistance.
Some rental agents who manage
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