I have a house to rent, what should I look out for?

Asked by Doug, 11772 Wed Feb 22, 2012

Should I use a broker or not? If so, why? And what type of fees/services should I expect from them?

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9
Javier Menes…, Mortgage Broker Or Lender, Melville, NY
Thu Feb 23, 2012
Doug, rentals can be tricky! Listing your rental with a Realtor will gain you more exposure. You should keep in mind that there is a broker fee (almost always equal to one month's rent). As Gail mentioned, it is the tenant's responsability to cover the Realtor's comission. Def not something some tenants are willing to do. If you decide to go with a Realtor, look for a local office, they tend to have walk ins looking for rentals in the area. From what I've seen, most people find rental properties craigslist.com, backpage.com, Pennysaver and various newspaper publications, If you decide to do it on your own, here is a link to one of my bank's vendors, they provide tenant screening. Good luck!
1 vote
Marie.Povine…, , Medford, NY
Sun Aug 5, 2012
Vet the future tenant extensively ask for two months security
0 votes
Gail Gladsto…, Agent, 11743, NY
Wed Feb 22, 2012
Doug, Realtors should be assisting you in background checks, reference checking and other ways to protect you and your property.

I am a landlord myself and have many years experience with tenants...learned a lot the hard way.

You are not responsible for fees; it is the tenant's responsibility to pay a commission.

I, or one of my agents, would be happy to assist you. Feel free to contact me at gail@gailgladstone.com or call at 631-425-6150.
0 votes
Thomas Brady, Agent, Plainview, NY
Wed Feb 22, 2012
Some brokers do property management, but that is much more specialized than handling rental listings. Most agents can competently do the rental for you, but most don't do property management.
0 votes
Sergio Herna…, , Naples, FL
Wed Feb 22, 2012
If you have the time, do it yourself, however be prepared to do a lot of work.

If you don't have time, or simply don't want to try renting your property yourself, hire a Realtor.

Realtors will offer different services from finding you a tenant, to managing your property. Speak to a few local Realtors and ask them about the fees they charge.
Web Reference:  http://www.golftobeach.com
0 votes
Doug, Home Owner, 11772
Wed Feb 22, 2012
What about property management? Do broker's get involved in that too, or is that a different company?
0 votes
Thomas Brady, Agent, Plainview, NY
Wed Feb 22, 2012
A broker can screen prospective tenants for you, show the property for you, advise you on market rents, advertise the listing which should rent it quicker and for more money. With the tenant paying the commission what's not to like?

Call me if you need further information.
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed Feb 22, 2012
For maximum exposure why not consider listing with a broker; the broker can schedule showings, negotiate rental agreement, etc.; if your property is located on Long Island, generally the tenant pays commission; if you need additional assistance feel free to contact me directly.
0 votes
Jacques Ambr…, Agent, Forest Hills, NY
Wed Feb 22, 2012
I would definitely consider using a broker. A good broker can run a check on prospective tenants and get you documentation to confirm the income and credit. If the agent is experienced, you will benefit from their knowledge
0 votes
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