Can A Realtor Help Me Find A Rental

Can A Realtor Help Me Find A Rental – Finding good tenants who will take care of your property and pay rent on time can be a challenge, especially if you don’t know where to start. According to the group’s 2018 Consumer Housing Trends Report, 70% of renters who moved in the past year moved from one apartment to another, and many are already thinking about their next move. For landlords, this means that finding tenants isn’t a one-time thing – it’s an ongoing part of owning and managing a rental property.

Finding a Tenant Before you start looking for tenants, you need a strategy. Use the steps below to plan the best way to find a tenant and follow through each time you have a vacancy.

Can A Realtor Help Me Find A Rental

An experienced property manager or letting agent knows how to find a tenant quickly. They have local real estate knowledge to help them set a competitive rental price, marketing experience to help reduce the amount of time your property is vacant, and training to identify red flags when screening applicants. If you are willing to pay an additional fee, hiring a property manager or rental agent is one way to find tenants for your rental property.

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When figuring out where to find tenants, first determine where the tenants are looking. According to the group’s report, 73% of renters use online resources to find a home – only 11% use print ads.

, Hotpads and Trulia: Reach more renters with Rental Manager and get your listing seen on the group’s network of rental sites.

StreetEasy: If you’re advertising for rent in New York City, posting on StreetEasy can help get your rental ad in front of a wider local audience.

Social Media: Share your rental ad on Facebook, Instagram, and Twitter to get more traction. Ask family and friends to share with their networks.

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Newspapers: Depending on where your rental property is located, newspapers can be an effective way to advertise a vacancy – this is especially true in smaller towns. Many newspapers offer online advertising in addition to their print editions.

Your website: If you manage multiple properties, you probably already have a rental website. Be sure to update it whenever you know you have an opening in the near future. This is a great way to find new tenants.

Rental Signs: This simple trick is a great way to attract the attention of passers-by or people in the neighborhood looking for a rental. Be careful if you put up signs before your current tenants move out, as this can lead to people knocking on doors or looking in their windows.

Flyers: Flyers are another traditional way to help promote your property in a small town or neighborhood. Flyers can also be a great way to spread the word about rental open houses – 60% of renters say it’s important to visit a rental home before signing a lease.

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Word of mouth: Spread the word! Telling friends, neighbors, relatives and colleagues that you are looking for tenants is a great way to fill your vacancy – find a tenant you can vouch for.

Create a rental ad tailored to your specific rental market. For online ads and print ads (when space allows), always include the following information in your rental ad:

The best way to get tenants to apply for your rental property is to set a rental price that is competitive with similar rentals in the area. Your rental advertisement must also comply with your state’s landlord and tenant laws, federal fair housing laws, and any other applicable laws.

A property management tool can help you keep track of day-to-day tasks and make it easy to find tenants online. For example, if you use Rental Manager, you can create a single ad for your rental that will automatically be placed on Trulia and HotPads. Rental Manager helps you quickly respond to leads and manage applications including tenant reviews online.

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Your rental listings will encourage interested tenants to contact you. Be sure to respond promptly to all questions and follow up on property tour requests. According to the group’s report, 60% of renters think it’s important to visit a home before signing a lease — and 71% expect to hear back from the landlord or property manager within 24 hours of inquiring about a listing.

Consider hosting an open house or scheduling personal showings to meet potential tenants in person. Personal tours give potential renters a chance to see the home for themselves and give you an initial idea of ​​whether the person will be a responsible tenant. Use these tips to help display:

Prepare a list of questions to ask each tenant. A good landlord-tenant relationship starts with the application process, so it’s important to ask insightful and well-structured questions. Consider these tips:

It is important to treat all candidates equally. Invite all interested tenants to fill out a rental application. Rental Manager’s application and screening tool simplifies the application process and includes background and credit checks. The tool is free for landlords, and each applicant pays just $29 to use the tool for 30 days. When accepting applications:

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If you have a few rental properties or many applicants, you may benefit from a lead tracking system like Rental Manager. This will help you stay organized and connect potential tenants with available properties – and you can communicate directly with applicants through Rental Manager.

Consider contacting previous landlords, employers, and any other references the applicant has provided to get a complete picture of their financial and rental history. A script will help you ask the right questions every time.

How to contact the previous landlord: An applicant can easily provide the contact details of a friend instead of the actual landlord. Word your questions carefully to confirm that you are talking to the person you think you are talking to. For example, you can say:

How to contact an employer: Many businesses have restrictions on how much information they can disclose about their employees. Make sure your questions don’t go beyond your role as a landlord. Yes or no questions increase the chances of getting an answer. Try something like this:

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When finding a tenant for a rental property, one way to check your financial history is through a credit check. Credit reports can be an important part of the screening process as one of the factors that help you determine whether an applicant can pay the rent each month. Looking at a credit report:

Note that a low credit score or poor payment history does not necessarily disqualify a tenant. There are many situations that affect a potential tenant’s credit score. For example, an applicant may have a low credit score due to unexpected medical expenses, because they are rebuilding their credit, or because they are starting to build their credit history.

Pro tip: The application and screening tool includes a full credit report from Experian and allows the applicant to comment on their credit report. Be sure to read the comments and ask relevant follow-up questions before deciding that the applicant is not a good fit for your hire.

Background checks are another way to screen tenants. Some cities and states have recently begun banning background checks on potential tenants, so be sure to check the laws for your area. Even if background checks are prohibited in your area, you may be allowed to check current sex offender registries. Again, talk to your applicant about any issues that come up during the background check to give them an opportunity to explain the circumstances.

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Now that you know how to find tenants, you’re ready to choose a landlord. Review all eligible applications you receive and make sure:

Having your new tenant sign a tenancy agreement is an important way to protect your property and make it clear what is expected of your tenant. Using digital leases is an easy way to take care of this critical step. When you meet with your tenant to sign the lease, be sure to include these key points:

Looking for more information about being your own landlord and renting out your property? Rental Manager provides tools and resources to help you start capitalizing on your investment. Many or all of the products displayed here are from our partners who compensate us. This may affect which products we write about and where and how the product appears on the page. However, this does not affect our ratings. Our opinion is our own. Here is a list of our partners and how we make money.

Hiring a professional real estate agent can help you make better decisions and avoid them when buying or selling a home.

Why Working With A Real Estate Agent Benefits You Don’t Leave Money On The Table

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