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Idelle Musiek, Other/Just Looking in Studio City, CA

Do I really need the MLS to lease a home for $3900 and above - if I use CL and Westside Rentals?

Asked by Idelle Musiek, Studio City, CA Wed Jul 9, 2008

When advertising a lease for a family home in the $3900 range and up, what percentage of renters use the MLS (go through a realtor)? It costs a lot more to use the MLS and I'm concerned I'll get someone who wants a house temporarily before buying another house. The bottom line question . . . and be objective here. . . can I rent the house nearly as easily and quickly through craigslist, Westside Rentals, etc.?

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Answers

8
You can do it yourself. Getting a broker with experience helps alleviate the time burden, the second guessing of applications, pricing and terms. In addition, someone with experience in leasing will be more knowledgeable about rental laws. Is it really worth taking your most valuable asset and trying to do it yourself if you have no experience....

Food for thought.

D Maynard
Agent
0 votes Thank Flag Link Mon May 21, 2012
$3900 is a higher price point in the rental market today. You may be able to rent it yourself but be careful and make sure you do a credit check, structure a proper lease and can fully protect yourself as a landlord.
An agent with your best interest in mind is probably a safer choice so that you are fully protected. Many things can go wrong when leasing a home and a properly structured lease is very important. I also believe utilizing the MLS can give you exposure to a different demographic of renters, but not always.
Good luck and please don't hesitate to contact me directly should you have any other questions or concerns.

Regards,
Yana Galuz
Senior Associate
Crescent Realty
yana@crescentrealtyla.com

12345 Ventura Blvd. Ste M
Studio City, CA 91604
(310) 595-5522 Direct
(818) 980-5040 Office
(818) 980-5020 Fax
0 votes Thank Flag Link Wed Nov 10, 2010
I've worked with many clients who have utilized the guidance and expertise of a real estate agent when leasing. This price range is not low by any means, many people's mortgages fall within this price range, so while this is a lease and not a purchase, it's still a big investment and many people work with agents (who utilize the MLS) to find a lease. I am currently working with a client whose property I have just listed and using the MLS to find him a new home to move into...his budget is $7,000 and he is willing to commit to a 2 year lease. I think the MLS also yeilds more serious renters and many clients don't have the time to go thru the listings on the Craigslist (many of which can be bogus) and others don't want to sign up on Westside Rentals. All in All ...The MLS is very important in leasing your property and I would definitey recommend utlizing this tool.

If you have any more questions or concerns, please feel free to contact me directly:

Julie Kryukova
310.402.8181
http://www.lapropertiesbyjulie.com
0 votes Thank Flag Link Mon Nov 8, 2010
Those of us who work with qualified clients, (who can pay that amount of rent and more),use the MLS to find the listings that we take our clients to see. (we do not scour craigslist,LA times or other rental lists)
0 votes Thank Flag Link Tue May 12, 2009
CL and Westside rentals should be sufficient to lease your home at that price and will most likely save you a commission.
0 votes Thank Flag Link Wed Feb 25, 2009
Hi, Idelle:

You absolutely can do this yourself. Staples or Office Depot should have some forms for you to use. You can require the potential tenants to provide the credit reports (ask for originals). It is just a matter of how much time you have!

All my best,
Dot
Web Reference: http://www.DotChance.com
0 votes Thank Flag Link Wed Jul 9, 2008
Idelle,
If you have rented your home before and are familiar with the process, using craigslist and westside rentals is the way to go. However, if you have never done so, it maybe worth it to find a professional that can lease your home - so you find the best tenant who will love your home.
If you need a property management, please visit http://www.pspmla.com or call Pacific Shore Property Management at 310-839-8970.
0 votes Thank Flag Link Wed Jul 9, 2008
Quickly yes, but easily, no. The truth is, without using an agent that has access to credit report checking services, you are going to be at a disadvantage. You, as a consumer, cannot request a credit report on anyone but yourself, and therefore will have to take the word of the potential renters of your home. Craigslist is a great way to get exposure for your listing, but the safety lies with knowledge--and isn't that priceless???
0 votes Thank Flag Link Wed Jul 9, 2008
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