Thinking of renting your property? Wondering if you should engage a real estate agent? Well! The good news is that you don’t need an agent anymore! Renting a property privately is now possible due to the availability of online property listing portals.
Why should you rent your property privately?
Renting a property privately is highly beneficial to the landlord because:
It is economical:
You do not need to pay a high sum to an agent as a commission. If you take care of all aspects of managing your rented property, you will not need to pay a fee to a professional property manager either.
There is no middleman between you and your tenant:
Selecting the tenant is completely in your hands. You can set your criteria and select a tenant according to those. You can directly resolve all the queries your potential tenants may have about the property.
The property owner is the best person to market the property since he knows it well. You can highlight any special features associated with your property when listing it. When you are renting a property privately, you can choose a property portal on your own and list on multiple sites as well. However, when an agent lists the property, he will do it only on certain limited sites.
How you can rent a property privately:
- For renting it privately, you will need to get your home ready for the market. For this, you will need to conduct all the repairs and do the painting if required, etc.
- The next step is fixing a rent for your home by comparing it with the rental of similar properties.
- You will need to list your home on leading property portals.
- Connect with potential tenants and screen them.
- Choose a tenant and verify all his details.
- Complete the entire documentation.