There is an exciting new concept making headlines in the real estate industry today. It is called Tenant Representation and a Realtor who represents Tenants exclusively is known as a Tenant's Representative.
For most people searching for a new home - whether it’s a rental or purchase - starts on the internet. It seems like finding a new rental is the easy thing to do, there are many advertisements from both homeowners and rental companies alike. How hard could it be?
As it turns out, it often proves to be much harder than expected.
In a tight real estate market, propped up by many government regulations, finding your next home often becomes a frustrating endeavour. There are not as many homes available as you would wish. Vacancy rates are at their lowest, the rents are higher than ever, and even if you are lucky enough to locate the right property you may face some stiff competition. Landlords are able to pick and choose who to accept as a new Tenant. They have a list of requirements: credit check, proof of income, references - that’s just a start - often there is more.
More and more often the Landlords are being represented by Realtors, trained professionals with knowledge and expertise to screen the Tenants and protect the Landlord’s best interests.
This can be very frustrating for someone who has limited time and resources to find a new home. You may wish you had someone to help you make the best out of this situation.
This is where the Tenant’s Representation becomes so important. You too can choose to have a Realtor represent your best interests and help you find the right home. You get a free access to resources, and advice rooted in knowledge and experience. Best of all, this type of service is free to anyone who chooses to hire a representative.
What can you expect?
The Tenant Representation has to be documented to allow the Realtor to speak to the Landlords and their Representatives on your behalf.
Your Realtor will:
- Provide information about the market and comparable properties.
- Monitor the rental market and advise you of any new listings within your criteria.
- Communicate with Landlords and their Representatives.
- Arrange and assist you with viewing properties.
- Help you prepare your Rental Application
- Negotiate the terms of the Lease on your behalf and in your best interest.
- Stay in touch with you throughout the term of the Lease and provide you with advice when needed.
Especially helpful when you are:
- Looking to rent a single family home
- Looking to rent in a multiplex.