In California, big landlords only comprise approximately 28% of the rental market. These are categorized as landlords or companies that own large complexes. A large bulk of California renters live in single-family homes, which has created an amazing opportunity for rental property owners.
Working with a leasing agent is great for improving portfolio management and attracting tenants, but not everyone understands what to consider when looking for one. The San Diego real estate market has no shortage of options, and we've put together a brief guide to help you make the right choice for your situation. Let's explore what you need to know when seeking a leasing-only service.
Their Past Reputation
This is one of the most important attributes to consider during your search. See what other people online have to say about what it was like working with them. Look for feedback that specifically mentions communicativeness and professionalism.
However, it's also important to look out for fake reviews. These are often posted in batches and contain a large number of identical keywords.
Experience Helping People Like You
It's imperative to find someone who has experience working with clients like you. This will ensure they have the knowledge and resources to help you reach your goals.
Ideally, you'll find someone with at least a decade of experience. This will help you have an easier time finding new tenants.
Referrals
There's a good chance you know someone who's worked with a reputable leasing agent before. Reach out to a handful of contacts to see if anyone can point you in the right direction.
Leasing agents sometimes offer discounts if you're referred, as well. Consider speaking with your professional contacts, as well.
A manager, coworker, etc. could have recently worked with an agent who can help you start on the right track. Keep this in mind when moving forward so you can get the best results.
Their Pricing Structure
No matter how good their services are, it won't make sense to hire them if they charge unreasonable fees. Ask them about their desired compensation and whether that changes under certain circumstances. The more insight you have into this topic, the less likely you'll encounter issues in the future.
Keep in mind that you should avoid the cheapest options you find, as these will offer subpar service. You don't have to choose the most expensive agents, though.
There's a point of diminishing returns regarding how much you budget. An agent in the middle of the industry's price range will help you reach your goals without overspending.
Find the Right Leasing-Only Service
Having the right leasing-only service on your side will help you streamline your obligations as a landlord. From here, you'll have no trouble reaching your goals and avoiding issues you may have otherwise dealt with.
PMI San Diego is a real estate asset management company that also offers brokerage services to our clients. We've been in the industry for over 20 years and strive to provide comprehensive solutions to your needs.
This allows us to help you set the maximum rent possible and take your income to the next level. You'll learn more about how we can help when you schedule a free rental analysis today.
