According to World Population Review, Denton, TX, is going places. Its population has risen by 16.29% since 2020, and all those extra people need somewhere to live or work. If you've decided Denton is the perfect place for your next rental investment, it's time to think about using a leasing-only service.
A leasing-only service is a tenant placement service. They find great tenants, do all the marketing, and finalize the lease agreement terms. After that, they will take a step back and you can manage the property yourself.
In this post, we'll explore how to find the perfect leasing-only service for your Denton rental.
Discuss Their Marketing Plan
A leasing-only service doesn't manage your property, but it does take care of probably the most important step - marketing. Marketing is crucial because if you get it right, you'll be able to command the best price and find tenants who will care for your property.
So, ask them about their marketing plan for Denton, TX. The team should be able to tell you:
- How they reach Denton residents
- What local renters are looking for
- What strategies they use to minimize vacancies and promote long-term tenancies
If the landlord services company can't immediately show you a clear plan, it's probably time to start looking at other options.
Talk Tenant Screening
Tenant screening is a serious business. The Fair Housing Act allows property owners or landlord services to carry out tenant background checks, but it is illegal to discriminate based on any protected characteristics. If you're a first-time landlord, you could easily find yourself in hot water.
Property leasing solutions carry out successful - and legal - tenant background checks every day. These services are perfectly placed to help you evaluate tenants based on characteristics that impact your business, such as their ability to pay.
So, talk to the property leasing service to understand how they carry out this process and how it can help you find the most desirable tenants for your rental.
Understand the Costs of a Leasing-Only Service
The most reputable leasing-only services will be upfront about their fees. This will help you to compare companies on a like-for-like basis. Typically, fee structures take one of three forms:
- Percentage-based fee
- Flat fee
- Per-project fee
For example, a leasing-only service may charge a percentage (up to 100%) of the first month's rent as their fee. This may be termed a "placement fee." However, once it's paid, that's it. As they provide no further rental property operations, such as management services, there will be no further fees to pay.
Whichever company you choose, ensure you understand and are comfortable with the payment terms before you sign on the dotted line.
Property Leasing Solutions from PMI
If you want to be a hands-on landlord but need some help finding the perfect tenants, a leasing-only service is perfect for you. At PMI, we know the Denton property market like the back of our hand. We're ready to use our expertise to place the perfect tenants in your property.
Call us today at 940.514.8903 or click here to learn more about our marketing services.
