October 24th, 2013 by Gary Mawson Jr.
Renting homes for owner comes along with the real estate industry, but there are a lot of agents that just don’t have a clue what they are actually doing. A lot of agents just automatically think that because they have a salesperson license that they can effectively market your rental listing. There are a lot of ins and outs to a rental property, and an experienced rental agent can help guide you in the right direction, so that you can make sure that you are getting a quality tenant.
Some things that you should know before you list.
- Has your agent done rental listings in the past?
- What are they looking for in a good tenant?
- Do they know how to read credit or are they relying on you (the owner) to decipher.
- What information are they expecting to receive from perspective tenants. At a minimum you should be getting a credit report, application, and pay stubs to start. You can get a good snapshot of who the tenant is with this information and than you can ask for more information as needed.
- Does your agent own any rental properties?
- Do they know the Certificate of Occupancy (C of O or CO) guidelines in the town? They don’t necessarily need to know all of the ins and outs, because each town has its quirks, but the main things are always the same. Fire extinguisher within 10 ft of the kitchen and smoke detectors on every level. Carbon monoxide detectors if gas is present in the home (electric homes do not require).
These questions should help you weed out most of the bad agents right away. Make sure that the agent puts photos in the listing within the first couple of days. It is important to have good photos for your property. It will become more attractive and more prospective tenants will come to see it. This is an investment for you so finding the right agent for the job will help you maximize your income by finding you the right tenant for the property.