You're a property owner with multiple units, looking to streamline your leasing process and maximize your returns.
Enter leasing-only services, promising to handle everything from finding tenants to handling paperwork. But before you dive in, how do you ensure you're paying attention to everything you need?
We can help. Let's go through what to consider when choosing a leasing-only service.
1. Reputation and Experience
Look online or in magazines for testimonials or reviews from previous clients. Positive feedback shows off a track record of satisfied Orlando customers and reliable service.
Negative reviews or complaints could be red flags. That's especially important for a newer rental property owner.
Consider how long the leasing service has been operating. Longer-established companies often have more experience and a deeper understanding of the real estate market.
2. Market Knowledge
The leasing service should have a deep understanding of the local real estate market where your property is located. This includes knowledge of rental rates, demand trends, vacancy rates, and competition in the area.
A proactive leasing service will provide regular updates on leasing activities, tenant inquiries, property showings, lease signings, rent collections, maintenance issues, and other relevant matters. Regular communication keeps property owners informed and involved in the leasing process.
3. Communication and Support
Consider how accessible the leasing service is to property owners and tenants. They should be able to give you multiple communication channels such as phone, email, online chat, and in-person meetings to address inquiries and concerns promptly.
Documentation is important, too. Make sure they send out plenty of owner statements so you know what's happening.
A proactive leasing service will provide regular updates on leasing activities, tenant inquiries, property showings, lease signings, rent collections, maintenance issues, and other relevant matters. Regular communication keeps property owners informed and involved in the leasing process.
4. Fees and Costs
You also need to look into the financials of it all. The leasing service typically charges a leasing commission, which is a percentage of the annual rent or a fixed fee. Compare commission rates among different leasing services and ensure they are competitive and reasonable based on market standards.
Inquire about how maintenance and repair costs are handled. Determine if the leasing service charges fees for coordinating maintenance services, handling repair requests, and overseeing property inspections.
5. Technology Use
Look into the technology use, too. Determine if the leasing service utilizes online platforms to list and market properties for lease. A strong online presence increases visibility and attracts potential tenants.
Inquire about cybersecurity measures implemented by the leasing service to protect sensitive data, including tenant information, financial transactions, and property details.
Inquire about the availability of a tenant portal where tenants can access lease documents, pay rent online, submit any Florida maintenance requests, and communicate with the leasing service digitally.
Orlando Leasing-Only Service: Make the Right Choice Today
With these tips, you'll be able to choose the right leasing-only service for your business needs.
Are you ready to start hiring property management services in Orlando? Verandah Properties' track record of success is proven over the last 20 years. Contact us today.