With the downturn and lack of sales, I have decided to spend more time in an area I am familiar with and that is landlording or more specifically, tenant placement. Through my KW office in Kingstowne/Alexandria, VA. I will be working more on placing tenants in the Northern Virginia and D.C. Area. I actually have a couple of buyer/renter clients that are on the fence with renting verses buying so its a natural thing to offer these services. I am not planning on directly offering property management but have several sources should a client (i.e. - Landlord in this case) need those services in addition to tenant placement.
For Landlords, the big savings on tenant placement is covering all of the legal bases for renting and time savings. There are a number of required forms and disclosures that must be provided to tenants. As for the general renting of a unit or home, there are the phone calls from prospective tenants, agents, applications processing (that includes credit checks, income verification, and reference checks) as well as showing the property and the move in process.
Many Landlords (and sellers too) may not realize that when they can only show the property after 5:00pm or on weekends, that they are turning away potential tenants. For example, I have tenants flying in from the West Coast to look at homes for three days next week. Are they going to wait around all day to look at you rental? I doubt it unless it is a "hot" property and less expensive than other options. If you have to lower the rent to get people to look at your property then perhaps you should charge a higher rent that reflects market value for the property and have an agent show it all day long, handle the paperwork, and cover your legal requirements?
I can do that for you and set you up with a property manager to manage the property either directly or indirectly. So, if you are interested in tenant placement for your properties in Northern VA or DC, please call me.
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