Rental Agents: A Guide To Understanding Their Roles

Going into property management without hiring a rental agent is a mistake. There are far too many responsibilities for one person to manage.

Rental agents take some of the hard and technical work off your shoulders. Most property managers purchase property to invest in their future. With such an important end goal, you must do everything you can to protect that asset.

Learn about the roles of rental agents. Find out how they can help you increase the value of your property.

What are Rental Agents?

The role of a rental agent or leasing agent is wide and varied. Essentially, they perform duties related to assisting the property manager with running their rental property.

They are not required to have a college degree, but they have to have a license to work in most states and a GED. 

The Responsibilities of Rental Agents

The role of a rental agent depends on what the specific needs of a property manager are. There are some general responsibilities most specialize in.

These are the tasks that would be in your best interest to leave in the hands of an experienced professional.

Screening Tenants

This is perhaps the most important aspect of rental real estate agents. Prospective renters need to be thoroughly vetted. Otherwise, you will go through a lot of hassle to evict them.

Rental agents pre-qualify tenants. Once a prospective tenant expresses interest in the property, the rental agent will perform a credit and background check. This is to make sure that a tenant will be a good fit.

You can screen tenants on your own following this straightforward checklist. With something as important as deciding on renters, you should trust a professional with experience.

Maintenance

Rental property agents take on the responsibility of making the property move-in ready. Basic property maintenance doesn’t mean they have to do repairs themselves. They need to have a plan in place when needed.

Once the tenant moves in, the responsibility of maintenance often transitions to the property manager.

If a tenant reports a problem after they’ve moved in, the property manager decides who to dispatch to fix the issue and when.

Lease Agreements

They are also in charge of lease agreements. This involves documenting the agreement and terms for each renter. It also includes collecting deposits for new rentals. 

Renewing and rewriting lease agreements falls under their responsibilities. When it’s necessary to terminate a lease, you can give a rental agent the authority to carry that out.

It may be wise to relegate these duties. This is because you must be familiar with local real estate laws and federal Fair Housing regulations. A rental agent is familiar with these.

Learn More about Property Management

Rental agents are a great asset to property managers when utilized properly. They can handle a lot of the more tedious responsibilities. You can spend more time dealing with other aspects of your business.

In addition to hiring a rental agent, there are many other ways you can increase the profit from your rental property. For more information, contact us today!