FAQ Category: Tenant
Tenant placement is the process of finding and leasing a rental property to the best possible candidate. Finding the right tenant involves several steps, including advertising, arranging showings, and screening potential candidates. Once an ideal candidate is found, a tenant placement company will negotiate the lease, and complete the lease agreement, along with all other necessary documentation.
The most important step in finding a great tenant is the vetting process. Tenant placement companies know the right questions to ask to ensure a good tenant. Therefore, tenant placement is a great option if you would prefer to manage your rental property on your own but are unsure of how to find a long-term, reliable tenant.
The difference between property management vs tenant placement is in the services provided.
Complete property management involves full management of a rental property. In this case, everything from finding and signing a tenant, to rent collection and evictions is dealt with by the property management company.
On the other hand, tenant placement is used by landlords who intend to manage their own property in the long term but require help finding a reliable and trustworthy tenant. A tenant placement company will advertise your property, screen potential candidates, and offer tenant recommendations. Once an ideal tenant is found, the company will process all the necessary documentation. Upon completion, all documents are handed over to the property owner for use in the future.
The cost of dealing with bad tenants is often much greater than the cost of hiring a property management company to provide tenant placement. Bad tenants may cause damage, fail to pay rent, or cause costly legal issues. As a result, many landlords find that tenant placement is worth the cost. This is especially true for landlords who have had a bad experience with tenants in the past or don’t know how to properly screen potential candidates.
Tenant placement is about more than just reducing your stress. Tenant placement will help you find a reliable and long-term tenant that you can trust in your rental property.