6 Benefits of Renting A Home Through A Real Estate Agent
Real estate agents are normally associated with buying and selling homes, however there are many agents who gladly represent a renter looking for a place to lease, using the agent’s network and expertise.
Here are 6 reasons you may benefit from using a real estate agent to help find your next rental:
Access to many properties
By virtue of being having access to the Multiple Listing Service (MLS) listings, a real estate agent can see what units are currently available as well as what units will become available soon. There are also upscale buildings that only certain real estate agents are able to lease.
Ability to navigate through the competition
With many renters returning to the city, many urban areas are facing historically low vacancy rates. Real estate agents with their knowledge, experience and access to resources, have a better success rate at securing a rental property. Many landlords are more comfortable dealing with a professional real estate agent when it comes to leasing out their property, than an ordinary “off the street” person wanting to rent.
There is no charge for the services
Contracting a rental through a realtor is free, as the landlord usually pays for the agent’s services. Many landlords prefer renting through established real estate agents and don’t mind paying fees that have no bearing on the renter. This means that the goal of both parties can be to find the renter the best property at the best price in the best location.
Expert negotiation and contract review
Professional real estate agents have been trained to negotiate buying and selling properties. This skill is easily transferrable to renting properties as well. Many people are uncomfortable with negotiating. The real estate agent can negotiate favorably for the renter and examine the nuances of the lease contract for any potential discrepancies, as rental leases can contain legal language that may be hard to understand.
Credit issues can be easily overcome
Many landlords require a credit check to ensure that the renter is credit worthy and can pay the rent. Bad credit can be an issue that may result in an application rejection. However, an agent can explain to the landlord exactly why the proposed renter would be a better credit risk than what his/her credit score may indicate, if there are good reasons for the poor credit. This may be more valuable coming from a third party.
Less likely to fall prey to rental scams
With rising costs, low vacancy rates and a high demand for both long and short term rentals, there has been a huge increase in rental scams, thanks to the internet. An agent experienced in rental properties will be able to easily distinguish a rental that is real or fake, and this could be very helpful and cost saving barrier.
We have a wide range of exclusive rental properties available. Contact one of our real estate advisors for a viewing.