There are several reasons why you might hire a RE/MAX broker to rent out your property or to find an apartment or house to rent for your family. Whether you’re a tenant or landlord, delegating this task to a broker is definitely to your advantage.
The rental market can certainly be as complex to navigate as the sale and purchase market. How much rent should I ask for my condo? Which neighbourhoods fit my budget? How to attract responsible tenants? All these questions need answering. Here are the reasons why you should seek a real estate broker’s assistance.
They Know the Rental’s Value
This expert has a pretty accurate idea of how much you should be paying for rent each month for the type of housing you want. Same goes for the landlord unsure of how much to charge a tenant when signing the lease. A real estate broker recommends what they consider a fair price based on the principle of supply and demand, and on comparables in the neighbourhood.
They Can Negotiate and Advise
A broker offering residential rental services is well versed in this field’s ins and outs, whether in terms of actual real estate brokerage or the rules governing residential lease agreements. They can thus provide guidance on all related regulations. A broker also acts with their client’s best interests in mind. They will make sure, for example, that the lease’s terms actually suit your needs.
They Can Highlight the Rental’s Strengths and Weaknesses
As when fulfilling a contract for a home sale or purchase, a broker must be very familiar with their area’s rental market. They can narrow the search to neighbourhoods that correspond to their tenant clients’ needs, and list its pros and cons, as required. Thanks to their ability to recognize a property’s positives, they also know how to focus on the unit’s best points to attract tenants for their landlord client. All parties win!
They Manage Visits
Whether they’ve been hired by a landlord or a tenant, a broker will handle calls inquiring about the rental, plan visits, and make sure they go well. As a matter of fact, you can even give your broker a key to the property and leave them in charge of everything during your absence. How practical! Another advantage of using a broker: the landlord no longer has to answer sometimes thorny questions regarding the lease’s terms.
They Can Screen Potential Tenants
All landlords want reliable tenants who will pay their rent on time. A broker can’t guarantee that 100% of the tenants they find will be perfect in every way, but they can still verify their payment habits.
They Have a Network of Helpful Contacts
Who better than a real estate expert, who knows their area like the back of their hand, to find potential tenants or attractive housing in the neighbourhood? A broker has an extensive contact network in every field and is usually the first to hear about a new property on the market.
They Can Advertise
Just like when selling a home, a broker has access to useful platforms on which they can promote the rental. These include their own Facebook page followed by hundreds of people, their real estate company’s website, RE/MAX’s for example, or Centris’s website. Thanks to their team, they can equally take beautiful photos of each room to showcase the property for rent.
They Have Rules to Follow
A last significant advantage of hiring a broker is that a contract with them provides legal protection. As a professional, a broker must follow a code of ethics. Thus, the tenant or the landlord who enlists their services can rely on their broker fulfilling their duties to verify, inform and advise in all transparency in order to ensure a successful lease signing.
To save time, to avoid getting lost in legal documents and to ease stress… it’s in every tenant and landlord’s interest to contact a RE/MAX Real Estate Broker!