Are you going to hire an agent to get the tenant, but manage it yourself?
A full service agent will:
Inspect the property and make improvement suggestions
Take pictures, prepare flyers, and information to leave at the property
Advertise on the Internet and all other available sources
Respond to inquiries and show the property
•· After the agent notifies you that she has an interested applicant, she will have the applicant's credit verified, check his employment status, housing history, and any references
•· The agent will share the information in general with you and let you decide, if you want to rent to the applicant.
•· The tenant will give two checks, one as a security deposit that you will place in an escrow account for the tenant. You will be responsible to pay interest on it when the tenant moves out. The percentage is available on the Landlord Tenant site.
•· One month rent will be used to pay the Agent's Broker.
•· The agent will coordinate the tenant's move in
•· Once the tenant moves in, he will have 10 days to inspect the home and note any damages, not noted before
If you are managing the property, the agent's job is done at this point.
A landlord can expect a variety of situations not mentioned here, however he will have to deal with the unpredictable issues. Enjoy the adventure!
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