At any given time, four percent of rental properties in California are vacant. Those figures could be even higher for owners of new rentals. If you manage San Francisco rentals, you may benefit from hiring tenant placement services.
Tenant placement through landlord services takes the hassle out of finding renters for your home or property. Interested in learning more? Read on to learn how this service works and if you are a good candidate for hiring these companies.
1. Free Time for Important Work
Being a landlord is tough work. Even successful landlords have likely learned their jobs through trial and error.
The daily jobs of property owners could include maintaining and fixing equipment like HVAC systems, pips, drains, and garage doors. Plus, landlords are responsible for keeping properties free of pests.
Landlords often have to find time to advertise on top of all these duties. Wouldn’t it be nice if there was a company that handles those services?
Services for landlords include placing tenants. Are you looking for a break or free time for other important aspects of property rental management? Let Ray Amouzandeh and his team take over the drudgery of finding tenants so you can focus on other important tasks.
Growing your business may be a top priority. It can be difficult to carry out your strategic plan when you are tasked with finding new tenants.
2. Better Vetting for Quality Tenants
When you work with leasing brokers, you improve your ability to vet potential new renters. Vetting renters is complicated. The task requires understanding someone’s rental and eviction history, past employment, credit score, and criminal history.
These forms of history are not kept in one area. This means that you have to have extensive knowledge about where to find this data. Rather than missing important information, hire a company that can look these areas of history up for you.
It may seem tempting to try to save a buck or two here or there by avoiding hiring professionals. Without a quality San Francisco leasing expert, you risk bringing on a renter who has a poor history of paying rent on time or at all. You can avoid those costly setbacks by letting the experts handle finding and vetting tenants in the San Francisco area for you.
3. More Benefits than Just Tenant Placement
Many tenant placement services go beyond simply connecting landlords with renters. Tenant placement services can negotiate leases on your behalf. They can coordinate maintenance if needed.
The service providers can also help with pet screening. Tenant placement service providers can even craft application forms for renters looking to get into the San Francisco area.
This can be especially helpful if you are not familiar with the legal aspects of renting. Legal documents should only be handled by someone who has experience in those areas of law. A poorly written contract could complicate future eviction efforts, for example.
Tenant placement specialists can meet directly with the prospective tenant. They can help tenants fill out contract info. They can also follow up by calling the applicant’s references to verify important information like past work history and rental experience.
If you do not know how to look up someone’s eviction history, a tenant placement specialist can do that task for you.
4. Avoid Breaking the Law
San Francisco maintains strict rent control laws that must be followed very closely. If you are not familiar with these regulations, you can hire a tenant placement service to handle compliance with the laws that make property owners only raise their rent by set amounts each year.
Evictions are another area where property owners must closely follow the law. If you are drafting your own tenant contracts and applications, you may be missing important language that allows you to legally force tenants out under specific circumstances.
5. Lower Risk of Evictions
One of the biggest hassles you will ever have to deal with as a property owner is an eviction. Forceably removing someone from your property requires many steps. Initially, it requires notifying the tenant that they have violated their lease.
Then, you or a staff member will have to visit the local municipal court to start the eviction process. Even then, there is no guarantee that the process will conclude within any set period of time. As the eviction plays out, you will be without income from that unit.
You can greatly lower your risk of having to evict a tenant by hiring a company that handles tenant selections.
6. Fair Negotiations
Negotiation is a common part of selecting a tenant. For property owners, negotiating can be a slog. Plus, property owners are more likely to take certain aspects of negotiations personally.
One way you can remove yourself from the negotiation process is by hiring a tenant placement service. The companies act as intermediaries. They can represent both parties and ensure that the terms and rates are fair.
This approach to negotiating contracts is fairer for both parties.
7. Verify Employment
It is one thing for someone to put down their work experience. But until someone calls those former employers, there is no way to know if the prospective tenant worked there.
Fortunately, calling past employers is often part of the work that a tenant placement service provides. The work is often time-consuming. Allowing a contracted third party to handle those tasks will allow you to focus on where you spend your time.
8. In-Depth Background Checks
A superficial online background check could miss important details. Tenant placement experts understand how to complete comprehensive background checks on tenants. They can review rental history and conduct deep background criminal checks.
If you have little experience performing background checks, don’t leave it up to guesswork. Many free or low-cost background checks can miss important information that would otherwise lead you to not allow a tenant to rent your property.
9. Creative Advertising
Some things are best left to the experts. Unless you have a degree in marketing, you may be guessing at how best to reach new tenants. This is where expert tenant placement providers are of real value.
Tenant placement specialists understand where your potential renters can be reached. Are you looking for renters? Then you likely would benefit from social media ads.
Other target audiences may be best reached through print ads or email blasts. Leave your research to experts in the field while you focus on other important tasks related to owning rental properties.
10. Take Advantage of California and the San Francisco Area’s Appeal
Sometimes, we take our property’s appeal for granted. California has a lot to offer, and many people want to move to San Francisco in particular. Working with a company that understands the area can help hone your marketing efforts so you can find the best tenants quickly.
For example, our San Francisco real estate agents know San Francisco and its neighborhoods. By working with our tenant placement service, you can ensure that you work with a team who lives and works in the city.
11. Save Money by Contracting Out Tenant Services
Contracting tenant placement services is cost-effective. You can save money because you can focus on areas of your business while the tenant placement company works efficiently to find new renters for your business.
Working with third parties means you do not have to hire full-time or part-time workers to advertise, screen, and interview clients. All of this can be done by an experienced team working more quickly and effectively than many landowners could.
12. Work with a Company that Knows Your Community
Whether you work in San Francisco or anywhere else in the United States, working with professional tenant placement experts from the area where your property is located ensures that your renters work with experienced experts who know the lay of the land.
Learn More About Tenant Placement Services
Are you looking to free up time so you can focus on other important areas of your business? Finding the right tenants can be tiresome work, especially if you already manage many properties. Even if you think you understand how to find, screen, and interview tenants, you may be missing key steps along the way.
Consider working with tenant placement services. The experienced professionals at TARGA Residential Brokerage work to make the leasing process easy and seamless. Our experts give a wide range of services that include finding tenants who match your goals.
We look forward to helping you find the right tenants. Contact our office today to schedule an appointment.