Why hiring a reputable Real Estate Management Team is so fundamental? Sure, there are many websites out there that you can upload your rental property photos, price and contact to get the rental process going. Sure you can do it by yourself and sure the process may not seem so hard but knowing a Professional who has systems in place to screen individuals on a daily may be better than those who does it maybe once or twice every 1-3 years. Not everyone who calls has intentions of renting your space. Then why would they call?
It’s so scary to think about any type of fraud but imagine renting out your rental property with a prospective tenant providing fabricated information, or even worst a synthetic identity? Or imagine looking to rent out a new property but in actuality, the property is not For Rent and a con compiled information to post a bogus ad or the owner of the property is in Foreclosure and is looking for a quick buck? How do you differentiate? These situations can be wicked but it doesn’t have to be.
Within the past two years I’ve had a friend who experienced an untruthful landlord who was in foreclosure and took their security deposit and their monthly rents and did not pay the Mortgage. I also had a Buyer who purchased their home with a prospective tenant stopping by their residence on move in day asking if their home is still For Rent! I do not know which situation is worst. I think probably the one moving in to a new neighborhood with such gnarly encounter on the first day. The monies from the rental can be recuperated but still, it is not very easy to stomach to say the least!
To learn more about hiring a rental property manager for your properties, feel free to contact me.