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Trulia Miami, Home Buyer in Miami, FL

Why might a landlord hire a realtor to find her or him a tenant?

Asked by Trulia Miami, Miami, FL Thu Feb 14, 2013

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Yanoska Diaz’s answer
A Landlord should always hire a Realtor to find her or him a Tenant for the following reasons:

1. A Realtor is familiar with the current market rentals and can assist the Landlord to conclude the best/highest price for his property.

2. A Realtor places the rental in the market at no initial cost to the Landlord (using superior marketing resources) which otherwise can spend hundreds of dollars in advertising.

3. A Realtor may already have in hand a number of qualified prospects for the rental therefore saving the Landlord time and money.

4. A Realtor can prevent that the Landlord is taken advantaged of by Tenants who often wish to negotiate and/or modified the terms and conditions originally established by the Landlord.

5. A Realtor handles the entire process of the rental on behalf of the Landlord from advertising, showing of the property, tenant screening, drawing of the lease to collecting the initial funds to move in.
2 votes Thank Flag Link Fri Feb 15, 2013
A landlord might hire a realtor to find her or him a tenant because a realtor because a multifold of reasons
First of all a realtor has access to the MLS system and can market the property to all realtors within the area. Also the realtor has more access to marketing material and the right connections (if you happen to pick a good realtor) to market your property and to make sure it gets rented
The realtor will get all the phone calls, will show the property and will get all the questions during the negotiation process. With other words there will be less hassle for the landlord.
1 vote Thank Flag Link Fri Feb 15, 2013
1. Better quality prospects.
2. Higher Prices
3. A great agent will keep the Landlord up to date on rental and sale values to help him/her make educated business investment decisions at all times.

If you were the owner of a Rolls Royce, Bentley, Ferrari, Maseratti, Porsche etc ... would you give it to Walmart to Rent Out or would you give it to Sotheby's for example? Real Estate is a value item not a flea market commodity, is it?

If you need anything further please feel free to call me during normal business hours at the contact info in our website link below
1 vote Thank Flag Link Thu Feb 14, 2013
A landlord can definitely try to do it himself, however, here is an example of how I helped an owner this week. The applicant had fair credit, but did not want to give the contact info of the prior landlord. I was able to do a little extra digging, find the owner of the last home rented, track down the phone number of said owner and talk with him about the "situation" between him and the tenant looking to move into my tenants property. A lot of details come out when you can go the extra step and verify the accuracy of what is on the applications. Running credit is also a benefit an agent can provide for immediate feedback. Getting the RIGHT tenant in there is the BEST reason to hire an agent. Anyone can find someone, but you need to make sure it is someone who will care for the home and pay the rent......Some people don't..... An an owner, I would prefer to manage my own properties monthly, vs getting the right tenant in there to begin with.
1 vote Thank Flag Link Thu Feb 14, 2013
I agree with those answers below and in addition I would say that a real estate agent often has good outlets to market the property in addition to what the landlord has. In our community we can put rentals in the MLS to market to other agents.
1 vote Thank Flag Link Thu Feb 14, 2013
I would say to do a more thorough background check, knowing the avenues to obtain this info is very helpful. Realtors are able to use the Application adn Leasing forms and they understand the jargon associated with Rental properties.
http://www.HomesInRockport.com
Alissa Spears. Assc Broker
Lynn Johnson Realty, Inc
1 vote Thank Flag Link Thu Feb 14, 2013
Because most landlords do not have the time to market, show the apartment and quailify the tenant to make sure they will be a strong tenant. Realtors who specialize in rentals already have the resources in place and can do it with ease.
0 votes Thank Flag Link Fri Feb 15, 2013
Realtors have the expertise to find a good candidates and then choose the best Tenant. Most of Good Tenants want to work with a Realtor to get a nice place where they tend to stay for more than a year. Good Tenant will have a good credit history, good income, good background and a good Tenant History. A Realtor has many resources to market the property to the right Tenant. Landlord hire a Realtor to get the best for his/her property.
0 votes Thank Flag Link Fri Feb 15, 2013
If you have to ask, then you most certainly need a Realtor more than you might think. If you had a serious medical condition would you try to solve it on your own with aspiran, or would you go to a
doctor?
0 votes Thank Flag Link Thu Feb 14, 2013
do you not realize TRULIA is asking this question, NOT a consumer???
Flag Thu Feb 14, 2013
Realtors can ask questions that a Landlord might find it difficult to do. Sometime Landlords are not used to dealing with potential tenants and are more easily duped than an experienced Realtor.
0 votes Thank Flag Link Thu Feb 14, 2013
In a few words they wouldn't be penny wise and Dollar folish.
0 votes Thank Flag Link Thu Feb 14, 2013
As a former landlord/property manager of my owner properties and getting them rented on my own without a Realtor, I can honestly say I would NEVER do it again on my own. It is so not worth my time, effort and sanity. Now that I am an agent I can use my past experiences to educate landlords and advise them on the best ways to obtain a tenant and how to manage a property. And honestly, the best advice is to get a Realtor to do it, but get one who knows that side of the residential business. Not every Realtor does rentals, so find a good one that does and hire them to do everything for you while you sit back and collect your rental check every month. I promise, it will be the best money you could ever spend. Good luck!

Jillian Bruening
http://www.JillianSellsHomes.com
0 votes Thank Flag Link Thu Feb 14, 2013
A realtor would most certainly be an asset in this sort of scenario.
Your realtor could qualify the potential tenant and do the necessary screening on behalf of the landlord.
Yvette Naranjo LLC
786.344.5646
0 votes Thank Flag Link Thu Feb 14, 2013
A Realtor is very familiar with the Landlord-Tenant Act and also has an eye for a good tenant. By nature of our professions, we are very diligent when it comes to paperwork and this is by far the most important step when screening a tenant. You cannot leave a stone unturned and it is vitally important to cover your bases and have every provision made so that you are prepared for every eventuality. Also, a Realtor can best advise on the reasonable rental rate in accordance to comparables and the opinion of the HUD people.
0 votes Thank Flag Link Thu Feb 14, 2013
I agree with those answers below and in addition I would say that a real estate agent often has good outlets to market the property in addition to what the landlord has. In our community we can put rentals in the MLS to market to other agents.
0 votes Thank Flag Link Thu Feb 14, 2013
Documentation is key to finding the right tenant.
From the application information supplied by the potential tenant, a Realtor can make an educated determination on references, credit worthiness, employment and income verification.
Once all of that is determined and the tenant has been qualified, forms such as Lease agreement, Tenant Lead Law, and Apartment Condition Statement to name a few are then filled out.
There are several forms that the landlord might not have access to or fill our properly.
0 votes Thank Flag Link Thu Feb 14, 2013
Realtors understand the complexity of the transaction - they are trained and skilled in their profession. Realtors also have information and technology that others don't have (MLS and other technology along with State and Board approved contracts & Leases, etc.) And lastly, realtors have inventory and access to tenants (and buyers). Simply put, Realtors are Real Estate specialists that lower your risk, negotiate on your behalf and see to it that transactions are followed through to completion.
0 votes Thank Flag Link Thu Feb 14, 2013
That is up to the landlord should he want to interview his own tenants or should he get assistance from a pro to do the job.Depends how much time he has it is a lengthy process to check out tenants since there are no guarantees who is the best atleast get a credit chk and history as much as possible to trust the tenant in your priced possession ,your HOME. HENA MARTIN BROKER .
0 votes Thank Flag Link Thu Feb 14, 2013
Not to forget his homepage!
0 votes Thank Flag Link Thu Feb 14, 2013
A Realtor has expertise! Would you let your hair cut from anyone? No you go to somebody who is educated and knowledgable!
0 votes Thank Flag Link Thu Feb 14, 2013
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