The goal is to find the rental that suits all of your needs, most of your wants and fits your budget. What’s the most effective choice to realize that goal? You can:
Do it yourself; or
Enlist the services of a rental agent.
If do it yourself, then you are in effect your own rental agent. That means you must rely on your own personal knowledge of the area and your own contacts to find your perfect rental. Of course, you could change your own oil, put in your own stitches and you could cut your own hair, too. The only difference is that you have pay for these services and a rental agent’s services are totally free to the renter!
A rental agent’s job is to listen to your needs and then help you identify rentals that meet your needs. rental agents typically have in depth knowledge of the community and they are often aware of market rates. It’s not uncommon for a “connected” rental agent to know of rental opportunities that are quietly listed and generally unknown to the public. A rental agent’s fees are paid by the landlord, so there is no expense to the renter.
It really is in the renter’s best interests to employ the services of a trustworthy rental agent.
The problem is many rental agents really only work for one landlord and thus only support their employer’s building(s). Any agent at an apartment complex will only show properties at that complex or at another complex owned by the same landlord.
Many realtors and real estate agents won’t deal with renters. Here’s why.
After all the fees are paid, a rental agent generally makes about one eighth of a single month’s rent for a rental. For a typical one bedroom apartment in the DC area the rental agent is often paid a paltry $160. (No withholding and no benefits.) So it’s tough to find a rental agent who cares about your needs. Additionally, many renters are oblivious to the benefits of professional assistance and don’t really take best advantage of the rental agent’s expertise.
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