HRG Property Management Blog

Maximizing Profits: The Benefits of Using a Leasing Only Service for Landlords

HRG Admin - Friday, April 26, 2024
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Are you a landlord who's having difficulty finding the right tenant? You need to find someone who'll commit to paying your rent on time. On top of that, they'll need to be responsible and hopefully extend their lease.

You're not alone in having difficulty finding tenants. Many Americans are behind on rent, so finding one who can help you pay for your rental property is a huge challenge.

You should consider using a leasing only service. This is offered by a property management company to help landlords find the perfect tenant.

Here's why you should consider it:

Great for Different Rental Options

Whether you want to rent on a short-term or long-term basis, a leasing-only service can assist you. They'll have a network of potential tenants who are looking for either option.

Leasing agents also know how to market your rental property accordingly to reach particular tenants. Whether you want to rent to a student for one semester or to a family who wants to stay for several years, you can depend on a leasing service.

A leasing-only service can accommodate different types of rental property. If you have a studio apartment, they can find a tenant for you. If you have a five-bedroom mansion, they'll know how to find tenants as well.

Leasing agents are used by new landlords as well as professional landlords. Whether you own one rental property or a portfolio of properties, they can help you build a sustainable business.

Your Rental Income Can Increase

If your rental income isn't as high as you wish, there are a number of likely reasons. One could be that you're unable to get tenants to renew their leases.

A leasing-only service can focus on finding tenants with a track record of long-term stays. They'll find someone who has financial stability so they can rent property for several years.

They Have a High Closing Rate

You might have bought a great rental property, but it's turning into a liability for you. One reason is that you might have prolonged vacancy rates.

As a result, you'll spend money on maintaining the property without having extra cash to pay for these expenses. Your tenants aren't just providing you with rental income; they also help you pay for your rental property.

Good leasing agents have a high closing rate. This means that they can quickly find a tenant for you. This means that if they're trying to connect a tenant with you, there's a high chance that the tenant will rent your property.

Hire a Leasing Only Service

Now you know the advantages of a leasing only service to help you find the perfect tenant. Once you've found your tenant, you can then work on providing them with the best service.

Leasing agents can help you find tenants regardless of your type of property. Your rental income can increase, and you won't have to go through the stress of finding a long-term tenant.

Home River Group® is one of the leading leasing-only services in the country. In almost a decade, we've helped countless landlords with their rental businesses.

Contact us to learn more.