Finding an ideal tenant for your rental can be challenging and requires a lot of work.
Finding an ideal tenant for your rental can be challenging and requires a lot of work. You would need to advertise your listing on various sites and meet up with potential tenants for who knows how many times.
Hiring a realtor to market your rental can help you avoid going through that lengthy process because they would be the ones who will be doing things for you. You just need to wait for the process to be completed while focusing on making your rental as attractive as possible.
With the help of a realtor, you get to avoid a lot of headaches and time-consuming negotiations. In the end, you’ll be able to collect rental money without having had to work too hard for it!
Here are other notable reasons why you should hire a rental agent to market your listing:
Reason #1: They have plenty of resources
Marketing your rental as a homeowner can be challenging, especially if there are multiple other listings in your area. Whether you have one or many rentals that you need to have occupied, it would be best to hire a realtor who can market them. Real estate agents have various resources at hand, meaning they can advertise your listings and connect with clients in multiple ways.
Some other the resources that they have that a homeowner doesn’t have access to are:
● Other agents who may have potential clients in their contacts
● Multiple listing services
● Tenant screening services
Finding a tenant is one thing, but knowing who is a good fit for your rental is another. That is why it is an advantage to work with a realtor. They have access to tenant screening services that let you can check the validity of tenants’ requirements and ensure that they can be trusted to pay on time and keep your rental in excellent condition.
Since realtors have various resources, they can advertise your listings in multiple ways such as:
● Posting ads on their office windows, especially if the surrounding area has high foot traffic
● Contacting other agents for clients that may be interested in your listing
● Post online advertisements to various listing sites such as Trulia, Craigslist, and Realtor.com
Reason #2: They have vast networks
Networking is a huge part of a real estate agent’s work duties. They would need to continually look for clients who offer rentals as well as potential tenants to occupy those listings. It is common for realtors to make real estate a big part of their lifestyle that they would most likely talk about the subject in many of their conversations.
Whether you have a common-sized rental or a luxurious home to list, a realtor has the ability and the network to search for a potential tenant who is a good fit for your requirements. If you have a listing that costs a million dollars, it may be hard to sell on your own. In contrast, a realtor may have a network of millionaires who would be interested in your property.
Reason #3: They have market value expertise
A real estate agent can determine the value of your home by looking at it and its surroundings. Once they have seen your rental, they will be able to compare it with at least three other listings in your area to determine its price value.
Some of the key features that they look at to determine the price value of your rental are:
● The lot and floor area
● Materials used
● Location and accessibility
● The surrounding neighbourhood
● Fixtures and furniture (if applicable)
Their goal is to look for ways to increase the value of your rental to a price that the potential tenants can still afford. Doing that also prevents your listing from sitting vacant for months or even longer.
Hiring a realtor to market your listing can make finding clients easier and faster. That is because they have plenty of resources that allow them to advertise your rental in many ways. They also have vast networks that make finding clients more achievable.
If you are a rental owner and looking forOttawa-based property management, contact us today. We are a management firm trusted by many clients to perform rental collections, tax preparations, property inspections, and a lot more.