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Using a Rental Agency to Find a Home?

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Anonymous

14y ago
Updated: 11/10/2020

While apartments are usually easy to locate, the market for individual home and condo rentals presents some challenges. Most owners only have one available home to rent and many applicants. A rental agency may be a solution to the dilemma of finding the home you want to rent.

A rental agency charges property owners a management fee. This fee usually includes finding tenants, collecting rent and dealing with repair and maintenance issues. If you rent a home through a rental agency, the chances are good that you will continue to deal with that agency rather than the property owner during the time you rent the home.

Sometimes a rental agency will be located in a real estate office. Other agencies specialize exclusively in renting and managing properties. Either way, the agency will be the sole representative for a number of homes for rent. While an agency may assist you in finding a rental home, keep in mind that it represents the interests of the property owner. Avoid agencies that try to pressure you to rent a home that does not fit your needs.

One of the key responsibilities of a rental agency is screening potential tenants. When you meet with a rental agent, you can expect to fill out a number of forms. You will need to provide references and information for a check of your credit history. They may also check your background for any criminal record. Be sure to ask if the agency charges an application fee or any fees for the paperwork that is part of the application process.

Your application provides the rental agency with a significant amount of your personal information. It is worthwhile to check the references and reputation of any agency you use. How they handle your confidential data is important to you. Members of the National Association of Residential Property Managers (NARPM) must agree to a code of ethics that commits them to keeping your information secure to protect your privacy and to avoid identity theft. If the agency you are working with does not belong to NARPM, it is reasonable for you to ask what precautions they take to keep your records safe.

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Wiki User

14y ago

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