Dissect the file of each application and venture to make the visits yourself? Very little for the owners who have chosen to go directly through real estate agencies to manage this part. Here is what is possible in terms of mandates when you entrust the search for your future tenant to an agency and what are the advantages of this solution.
Why use a real estate agency?
When you are a landlord and/or real estate investor, one of the worst scenarios that can happen is that the housing does not find an occupant and that this lasts over time. And who says vacant housing also says loss of money and therefore profitability on its investment.
Rental vacancy: is it a reality?
Rental vacancy is a real problem that varies depending on the size of the housing, but especially according to the city where it is located.
Taking care of the "tenant search" part requires time, technical and legal skills, but also meticulousness for all individuals deciding to do all these steps themselves. Real estate agencies with a storefront or on the internet can handle this for you. They take care of finding you candidates so that your home does not remain empty for too long, or not at all!
The rental mandate
The rather tedious workload of finding a new tenant or even several roommates can therefore be entrusted to a professional provider, in this case a real estate agency, who will do whatever it takes to find you candidates. In any case and at the end of the visits, keep in mind that the final decision will be yours whatever happens. This type of rather basic service for a real estate agency is governed by a classic mandate that mainly includes:
- The 1st visit to discover the accommodation and take pictures;
- The realization of real estate diagnoses mandatory by law;
- The drafting of the offer;
- The publication and promotion thereof;
- Visits to the property;
- The drafting of the lease;
- The inventory of fixtures of entry.
By using the services of a real estate agency to find a new tenant, it will have the legal status of agent. It will therefore take all the necessary steps on your behalf, in order to reach the conclusion of a rental lease. When you delegate an agency, the drafting of a mandate between the two parties is legally mandatory. The Hoguet law has made it possible in many points to clarify the legal framework of the real estate professions. Thus, with a mandate, no remuneration is possible as long as the rental is not effective.
The rental management mandate
Once your tenant has taken possession of the premises, the agency's work can stop here. That is to say, it was only mandated for the search for tenants. However, its mission can extend to more with what is called the rental management mandate. You can indeed decide to give him the power to manage the property. In this case, it will be the real estate agent himself or the property manager of the agency who will take care of the various things concerning the housing. This may include:
- The collection of rents;
- Claims;
- The regularization of charges and other treatments;
- The follow-up of the procedures if any;
- The signing of leases and other rental contracts for future candidates;
- The credit study...
There may be some advantages to entrusting rental management to a real estate professional. This mainly concerns the points inherent in the legal framework if you do not want to delve into these topics. In this case, as part of such a mandate, it may also include various protections such as:
- The assumption of unpaid rents;
- Legal protection against litigation;
- A guarantee of restoration costs...
It really depends on the conditions of each real estate provider. Be sure to find out before entrusting full powers to a third party. If you prefer to keep your hand on the search for a tenant for your property, but you are afraid of being quickly overwhelmed, do not worry!
Source : SeLoger.com
