Finding a new tenant for your vacant commercial or residential property can take a long time. While most landlords find new tenants within 30 days, it can sometimes take up to six weeks to fill your vacancies. Finding high-quality tenants can take up a major portion of your free time, especially if you have a full-time job on top of being a landlord.
Exploring hiring a property management company for a leasing only service is a great way to free up your time. Their thorough screening process ensures your units get filled with high-quality tenants. This blog will talk about the things you should look for when hiring a leasing agent for your properties.
Specialized Experience
The property management agency you hire should have plenty of experience in the industry and the South Jersey rental market. You want your leasing agent to be well-versed in the federal, state, and local laws that pertain to renting properties.
Another thing to keep in mind is whether they have experience working with residential or commercial properties. You should look for leasing agents that have previously rented rentals similar to yours. Companies that work with residential properties might not have the expertise needed to help you fill vacancies in your commercial units.
Clear Communication
As a real estate investor, you may want to know the status of your tenant search at all times. This includes knowing if your leasing agent isn't having any luck finding tenants. Not attracting tenants could mean there's something not appealing about your property that needs to be changed.
Some of the things you should ask the leasing agent include:
- How often they communicate with their clients
- Their preferred method of communication
- Ways they keep their clients updated on their progress
Additionally, you'll want to discuss what decisions you're comfortable with the leasing agent making on their own. Having them run everything by you can be time-consuming. It also might result in you losing out on a potential high-quality tenant.
Up-to-Date Certifications and Licenses
All leasing agents and property managers should have up-to-date training and licenses to work in the South Jersey area. They should possess these items and they should be current.
Referrals and Reputation
One of the easiest ways to find a leasing agent to work with is to ask other real estate investors whom they have relationships with. The best leasing agents will have a reputation in their industry and won't be hard to find.
Some of the ways you can find local referrals include:
- Reviewing third-party review sites
- Talking to former and current clients
Partner With PMI Property Service for Leasing Only Service
Don't waste your time hunting for tenants to fill your vacant properties. Work with a property management company for leasing only service to ensure you find the best individuals possible.
The leasing experts at PMI Property Service are here to help you find high-quality tenants. Our leasing agents have worked in the industry for over 20 years. Reach out to our office to request a free consultation with one of our leasing agents.
