Ellen M. writes: I have a tenant whose lease is ending in a couple of months (yes, right in the middle of winter, terrible timing.) The rental is a cute, two-bedroom house in a popular neighborhood, where demand for rentals has increased substantially since she moved in. Based on the […]
If you don’t think you need a rental agent to help you manage your rental property, consider these two tales of trainwreck-y landlord/tenant relations from the archives of the personal finance blog Get Rich Slowly: 1. The tenant who cost his landlord over $13,000 in lost rent over a broken […]
Seattle landlord Reggie Brown has owned his two current rental property for approximately five years, and owned small properties “on and off” for more than a decade. RAG: In your view, what are the most important factors in maximizing a rental property’s cash flow? RB: The big keys are stable […]
Dan L. writes: How can I keep my tenants from having visitors who are more like unofficial occupants? I have one tenant who’s boyfriend stays with her 3-4 days a week on a consistent basis. I’m paying for utilities, and beyond that, there’s general wear-and-tear on the property—and let’s face […]
Chris V. asks: I realize it’s normal for a tenant’s financial history to include some minor red flags, but what should I do when a prospective tenant has decent credit, but a history of past evictions? RAG answers: You’re right to be cautions about renting to a prospective tenant with […]
Jenny S. asks: When a tenant doesn’t pay rent, is my rental agent responsible for collections? Who files for eviction and follows through in court? RAG answers: This is a good question, and something to be sure to clarify within your rental management contract. Essentially, it’s up to you and […]
Rental agents typically handle a wide variety of tasks for their clients, using their expertise to avoid common pitfalls, save money, and maximize profits. Common tasks rental agents handle include: Pricing rental properties: An experienced rental agent will put his or her deep knowledge of your specific local market to work […]
Many people use the terms “rental agent” and “property manager” interchangeably. However, it’s possible to hire a professional to handle just the leasing of your rental property and not the ongoing management. It makes sense to refer to someone who handles “leasing only” as a “rental agent” rather than as […]
For most rental owners who aren’t making careers out of being full-time landlords, the decision to use a rental agent is an easy choice—most people simply don’t have time or expertise to deal with all the aspects of renting out their vacant home or apartment. From finding and screening tenants, […]
Rental Agent Fees Fees can vary from area to area, but it’s typical for rental managers to charge you a small percentage of your monthly rent—commonly between 8 and 15 percent—for their services. If you choose to use a rental agent for “leasing only” purposes, they’ll likely charge you roughly […]
