What Are the Benefits of Using a Tenant Placement Service?

Rental properties have an average turnover rate of 47 percent, the National Apartment Association says. Tenant movement at that rate is enough for any property to feel quite nervous. They want to be able to fill their units with qualified tenants at the soonest possible time. That way, any temporary loss in terms of rental income can be offset immediately.

A tenant placement service will go a long way in helping to reduce this income loss considerably. In this blog, we’re going to explore more about tenant placement services, including their advantages.

The Tenant Placement Service: What Is It?

Landlords who want to rent out their properties can use the services of tenant placement firms for help with finding, screening, and moving tenants in. Tenant placement firms can help property owners solve a variety of tasks, including filling vacancies and attending to routine maintenance and repairs.

Additional responsibilities that can be taken on by a tenant placement service include:

  • Compiling move-in inspection reports documenting the property’s condition at move-in
  • Making sure landlord-tenant laws are followed
  • Showing the property to possible tenants

The Advantage of Tenant Placement Service 

Time is a precious commodity, and renting out property consumes quite a lot of it. This can be an issue since most property owners don’t actually have the time to dedicate these properties. Here are some key advantages of taking on a tenant placement service:

Advertising In Creative Ways

Rental placement services can help you promote your rental unit. They may suggest attracting potential tenants by posting pictures on Pinterest. 

Marketing your property to new potential tenants can be as easy as creating an Event using Facebook’s Events tool. When you include a photo of your property on its listing, views increase by 95 percent.

Background Checks That Are In-Depth

Tenant placement service providers offer a range of tenant screening options for landlords, including detailed, background-check-style reports on prospective tenants. In addition to reviewing information on a tenant’s rental history, for example, these reports may include information about criminal records and credit scores.

A credit history check will be done so that the renter’s efforts (and therefore pattern) of repaying debts can be seen. It also affords a glimpse into how well they will end up paying for rent over time. The criminal background check, on the other hand, is self-explanatory.

Employment Verifications

Employment verification gives you the name, title, and contact information of a potential tenant. It will also verify that the person is still employed by a company and provide an estimated salary range. This will help to determine that they’re stable and will be able to meet payments not just for the rent, but the utilities as well,

Negotiations Get Finalized Better

The advantages of tenant placement services get a clear step up here. They can serve as the representative for both parties to each other, making sure the rates and terms are fair and agreed upon wholly.

Conclusion

Rental properties can be cool to own but rather tedious to manage. Hiring tenant placement services is a great way to make sure things go smoothly. Advantages include employment verifications, creative advertising and in-depth background checks getting carried out.

Need property management in Jacksonville, FL done? Contact Quest Real Estate today! We’ve helped clients through Northeast Florida since 1985.