When it comes to rental properties, one must be aware of certain people involved in the business. You have the landlord, the renter, and sometimes, rental agents. Some may not be familiar with rental agents and how they are different from landlords.

Rental agents are those people who are tasked to fill in those property vacancies using different marketing strategies and may also include managing the property as well. They can also aid in assisting tenants with renewing their lease and a few more other things that we will delve into in a bit.

A rental agent is not required to have a high educational background for the position but they may opt to take a few courses on the subject to do well in the field.

Here are some of the duties or tasks of a rental agent:

Checking clients’ eligibility

Looking for the perfect tenants is no easy feat considering that there are several applicants to go through and some of them might be a little questionable or unqualified. Tenant screening has to be done to find the ideal tenants who will be easy to deal with, pays the rent on time, and will not cause any problems as much as possible.

Rental agents will pre-qualify potential renters. Doing background checks and checking credit scores are just some of their tasks involved in the process. They will use the information they gathered to make a report on the eligibility of a tenant. This is why one of the good qualities of being a rental agent is being able to socialize with other people because it will help in building a good relationship between tenants and property owners.

Marketing

It is good to advertise the properties for rent to broaden the market that will be reached. It will increase the odds of the property being occupied in the shortest amount possible after posting the listing. Every rental agent must have the knowledge and skill to attract the property’s target market.

Rental agents commonly market properties by creating high-quality listings on websites like Padleads because it will be easier for them to syndicate those listings to popular rental platforms frequented by home hunters.

In the listing, the rental agent must be clear with the details like the location and the prices, including the availability of the property for viewing. Open houses and virtual tours are oftentimes part of a rental agent’s marketing strategy to entice interested rental applicants and show them a basic idea of what it’s like to live there.

The agent must also highlight the selling points of the property they are trying to market, so knowing the best assets of the property that suits the interests of their target market is part of the job.

Another part of marketing properties is being able to answer queries from applicants so knowing the property well, including both its advantages and drawbacks, is a very important factor.

Lease Agreements

Rental agents also play a role in the lease agreement. They should be familiar with all federal and state housing laws of the area in which the property is located. The contract should always have legal terms when renting out properties to avoid any legal consequences.

They will document all the agreements made and will collect the security deposit and rental payments that the lease requires (usually the first and last month’s rent). There are also instances that they will be the ones to terminate or renew the leasing contract.

Managing properties

Properties for rent should be in their best condition before occupancy. It should be livable and safe for the incoming tenants. Managing and maintaining the property is another responsibility of rental agents.

They don’t have to do it by themselves though. They can hire experts for repairs and inspections but they have to oversee the process.

In a nutshell, rental agents and landlords are different entities. Agents are usually hired by landlords to carry out some of the responsibilities on their behalf and they get paid in exchange for their services. Not all landlords hire agents if they decide to manage their properties on their own and perform all the tasks that go with it.

If you plan to be a rental agent, it’s good to be fully aware of what the job entails and the responsibilities you will need to carry out.