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The National Apartment Association estimates that turning over a rental unit can cost anywhere from $1,000 to $3,000.
It's a hefty price tag, especially when you factor in lost rental income from vacancies. As a property owner, finding and keeping good tenants is essential to maximizing your investment.
Partnering with a leasing-only service in Alexandria can be a game-changer. They can handle the heavy lifting of finding qualified tenants -- screening applicants and executing lease agreements.
But with so many leasing-only services available, selecting the right one can be overwhelming. Below is a guide that explores the key factors to consider when choosing the ideal leasing service.
What Is a Leasing-Only Service?
A leasing-only service focuses on finding tenants for your rental property without managing them afterward. This can be an ideal option if you prefer to handle property management but need help with tenant placement.
Factors to Consider When Choosing a Leasing-Only Agent
A good leasing agent will streamline the rental process, leading to a rental income boost. When evaluating potential leasing services, consider the following aspects:
Assess Their Expertise in the Alexandria Market
From seasonal demands to rental price fluctuations, the Alexandria market has its unique trends. Look for a leasing agent with in-depth knowledge of Alexandria's rental market.
An agent familiar with local market trends can help price your property competitively. They can be the difference between securing reliable tenants and facing turnovers.
Check Out Their Marketing Strategies
Effective marketing is important in reducing vacancy periods. Ask about the marketing techniques the leasing service employs. Do they use online listings, social media, and local advertising?
Professional leasing services should have a robust marketing strategy including:
- High-quality photographs of your property
- Virtual tours to engage potential renters
- Listings on multiple platforms, including social media, MLS, and popular rental sites
A comprehensive marketing approach ensures maximum exposure for your rental property. The goal is to make your property stand out and attract qualified tenants quickly.
Look Into Their Tenant Screening Process
The quality of tenants is vital in maintaining a profitable rental business. This is why your leasing-only agent's approach to tenant screening is important. Inquire about the screening process used by the leasing service. A thorough tenant screening should include:
- Background checks
- Credit history evaluations
- Verification of employment and rental history
With the right tenants, property management can be manageable. Reliable leasing services should offer a screening process that gives you peace of mind.
Check Their Understanding of Legal and Compliance Requirements
Rental property laws can be complex, especially for landlords. Your leasing agent should be well-versed in Alexandria's landlord-tenant laws.
From fair housing laws to security deposit regulations, leasing services that know these legalities can save you from costly mistakes. They should also offer valuable landlord resources to help you stay compliant.
Find the Right Leasing-Only Service in Alexandria
Choosing a leasing-only service in Alexandria is about finding a partner who focuses on your success. Ready to make the most of your rental property in Alexandria?
Century 21 Accent Homes t has you covered. As a full-service rental property management company, we take the stress out of managing rentals. Get in touch with us and make property management easy and profitable.
