With single family homes and condos selling quickly – sometimes even in just a matter of hours – the rental market is teeming with those who aren’t quite ready to dive into the buying category or who would simply rather have the ability to come and go without the drawn out process of purchasing and selling a residence.
So, finding potential tenants isn’t too difficult – but finding the right one(s) for your property(ies) can be somewhat challenging. With that in mind, does it make sense to have a real estate agent assist you with this task?
The answer is – it might…depending on the agent’s knowledge of the rental market, as well as who pays the fee.
For instance, realtor fees can vary from one location to another. In some cases, the property owner / landlord will pay the real estate agent to help with finding desirable tenants. But sometimes – particularly in more competitive rental markets – the tenant may be responsible for the realtor’s payment.
Prior to signing on the dotted line with anyone who is hired to find renters for you, it is important to find out just how much it could cost if you’re the one paying the fees. That’s because these can vary widely – from a low of just $50 or $75 to cover the rental application and/or credit check, to as much as one month’s rent.
Given that, a real estate agent may or may not be right for your tenant location needs. Rather, an experienced local property management firm could be – and there is a long list of other tasks that the property manager could take over, as well, such as property maintenance, emergency response, and even eviction if the tenant turns out to be not so desirable.
So, if you own residential rental property(ies) in Orlando and/or Central Florida, give us a call and we’ll answer any of the questions that you have about how our services work, and how you can take back more of your time.