The most difficult thing about being a landlord is that one daily task often isn't just one. It splinters off into smaller tasks.
Do you need a new tenant? You have to market to them, screen them, and sign a lease before they can move in.
Do you wish a professional would handle these responsibilities? You need to take the necessary smaller steps to find the right one.
Read on to learn four considerations for choosing a leasing-only service in San Fransisco.
1. Credibility and Local Knowledge
Research the leasing-only service and the agents on their team. Look for the proper license and a long, proven track record of helping clients.
Choosing leasing agents that are knowledgeable and experienced in rental leases is a baseline. You must also look for a service with a deep understanding of the San Fransisco rental market.
They'll watch changes in supply and demand and other trends like a hawk. They'll give you leasing service tips to help you respond to them.
They'll also have a deep knowledge of the local laws. These include regulations surrounding:
- Rent control
- Security deposits
- Tenant evictions
- Section 8 tenants
This knowledge helps you avoid time-consuming and expensive legal issues down the line.
2. Services
A title like "leasing-only service" may make it sound like there isn't much these professionals can do for you. The truth is that they can take many responsibilities off your shoulders.
They can handle:
- Marketing
- Tenant screening
- Lease negotiation, enforcement, and renewal
Look for a service that covers all the help you need. Once you find one, dig deeper to see how they provide them.
Ask about their marketing plans. They must research comparable rentals in the area, analyze market conditions, and increase occupancy through professional listings and showings.
Ask how they complete tenant background checks. Look for one that uses a comprehensive process that looks into each applicant's:
- Income history
- Credit history
- Rental history
- Criminal records
3. Communication
Property management never sleeps. You may need real estate leasing tips in the middle of the night. Tenants may have disputes in the wee hours of the morning.
A leasing-only service is always ready to handle these issues for you. They'll be your property leasing guide, providing constant updates.
This keeps landlords and tenants in the loop. It prevents disputes that can lead to vacancies.
They'll also keep track of your documents. No more losing leases or owner statements.
Get a sense of how well the service will communicate with you before you hire them. The best way is to ask for an in-person interview.
4. Cost
The money and time-saving leasing service benefits are worth investing in if you choose one that charges a fair rate.
Most take a percentage of the annual rate. They may also have a fixed fee structure.
Get quotes from several services to compare them to each other and standard market rates. Ask for a detailed breakdown of the bill to avoid hidden fees.
How to Find More Than a Leasing-Only Service
When choosing a leasing-only service, consider its general and local knowledge, services, communication, and cost.
PMI San Fransisco is a full-service real estate asset management company. We provide prompt and friendly service to owners and tenants.
Our goal is to protect your investment and maximize its profitability. Contact us to begin today.
