If you own a rental property, you might wonder whether a real estate agent is the right professional to help you manage your lease agreement and to find you a great tenant. After all, these professionals specialize in the local real estate market and probably even found you the home that you purchased for a real estate investment.
The question, though, is whether hiring a real estate agent to lease your home is actually the best decision you can make. We don’t believe that it is. Here are some reasons why you should hire an experienced local Austin property management team or company to find tenants for your rental property.
Lease Agreements
There are many aspects of renting a property that a typical real estate agent doesn’t have experience with, and lease agreements is one of them.
At the same time, lease agreements are one of the most important yet overlooked aspects of successful real estate investing. They are the rock that rental property owners can always turn to should there be an issue with payments, maintenance, rent or any other aspect of running the business. However, real estate agents often lack experience with lease agreements, relying on templated versions that might miss key components essential for protecting your interests.
An experienced local rental property management company can provide you with a custom and proven lease agreement that will ensure you are protected. For instance, they can include specific clauses related to Austin’s local regulations and market conditions.
Specialty
Most real estate agents specialize in the buying and selling of homes, not rental properties. They might be great at finding you a home to purchase or selling your home for top dollar.
However, the rental market is completely different in many aspects.
Finding a home buyer is simply not the same as a home renter. Not only might you need to market your property to different people, but you’ll have to do so in different ways.
In addition, you need to know what aspects of a home would be most appealing to high-quality tenants in your location. If you want to maximize your real estate investment, you need to position your rental property to the highest-quality tenants.
Again, what this means for a rental property is not always the same as what it means for people who are looking to purchase a home — even if it’s in the same market.
Limited Relationship
If you use a real estate agent to find a resident for your home, the relationship often ends there. Your agent’s job is complete, and you’re on your own to handle ongoing maintenance, rent collection, property upgrades, and compliance with local laws and regulations.
An experienced Austin property management company can handle these for you, ensuring you comply with all local landlord-tenant laws and avoid hefty fines.
Not only that, but working with a real estate agent can sometimes complicate some processes. Take for example, evictions. If your agent doesn’t obtain your renters’ Social Security numbers, dates of birth and copies of their valid IDs, the court may reject your eviction paperwork, should it ever become necessary.
Property management companies, meanwhile, are proactive about gathering all necessary documentation. 1836 Property Management Provides All-Around Service to Our Clients
At 1836 Property Management, we provide comprehensive service to all of our clients in the real estate investing business. This includes partnering with local and experienced real estate agents.
While real estate agents handle buying and selling properties, they often lack the expertise needed to manage lease agreements and handle the ongoing responsibilities of rental property management.
Conclusion
By choosing an experienced local property management company, you can ensure that the company creates robust lease agreements, maintains your property well, and complies with all local laws.
1836 Property Management is located at 1704 ½ South Congress Avenue, Suite E in Austin, TX, and can be reached at (512) 994-4323.
To find out more about how we can help you be successful, please contact us today.
