The leasing process is one of the first steps to managing a great rental. It's when you vet rental applicants to ensure they are a good fit for your property. When it can cost over $4,000 to evict someone when you make the wrong choice, it's a process you don't want to get wrong.
That's why looking for a leasing-only service to help makes sense. Below, we'll look at five advantages of working with a leasing service.
1. Save Time
You'll need to invest a lot of time in your tenant search if you want quality tenants. It isn't just about looking at applications for a few minutes each. You must also vet each applicant and their ability to be a great tenant.
Leasing management pros will handle this work for you. They have teams and processes to go through large amounts of potential tenants for you, so you'll save a lot of time working with a service.
2. Properly Screen Tenants
Time isn't the only issue when screening tenants. You must also look at the right things and set the proper criteria to ensure you only rent to the most qualified applicant. This means looking at things like income, credit, evictions, and other factors.
One of the big property leasing benefits is the screening processes they have in place. Leasing services understand where to find this information and how to use it to qualify applicants for a rental.
3. Manage Marketing
A leasing-only service doesn't only have to focus on screening tenants. Many of them may also offer marketing services to help attract people to apply for leases.
That makes getting more eyeballs on your property listing another one of the leasing-only advantages. You'll get exposed to more quality tenants and be more likely to get qualified applicants.
4. Avoid Legal Problems
Between being fair when screening tenants and drafting legal lease agreements, there is much to consider when signing new tenants. If you aren't familiar with the law, you may run into legal issues if you make a mistake.
Landlord leasing services are aware of all these issues. You won't need to worry about small mistakes putting you in legal jeopardy.
5. Decreased Vacancy Rates
One of the biggest concerns of landlords is vacancies. Every month you go without a tenant is lost income for you and your business. If you have a poor leasing process, this may happen to you.
The rigor of a leasing-only service's lease management process helps ensure this doesn't happen. They will work to ensure you get great tenants who take care of your property and stay a long time.
Invest in a Leasing-Only Service
Finding great tenants is one of the most vital parts of owning a rental property. You can't afford tenants who will flake on you, neglect to pay rent, and damage your property. Use a leasing-only service to ensure you find quality renters who will be reliable and great tenants.
Are you ready to speak to a reputable property management company to help with your leases? At Avalon Realty and Oaktree Management, we offer leasing services along with many other property rental solutions. Get in touch to learn how we can help you find great tenants.
Bonnie is the visionary that has driven the company and culture of Avalon since 1993. Her passion is improving procedures and practices; incorporating technology and value added services for both our clients and tenants.