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I have a house in San Francisco that is up for rent. Initially, I tried to rent it out myself but was unable to find a renter after about 10 showings. I started to think that the renters were concerned about dealing with the homeowner and potential scams so I decided to hire a leasing agent. The agent has been showing the house for 6 weeks now and we've dropped the price twice, but still no luck.
As a renter, do you prefer homeowners or leasing agents? Do you ever have concerns one way or the other?
Are you sure you are asking the right question? You are trying to determine if leasing directly from a homeowner or leasing agent is better from a tenant's point of view . You have tried both, neither worked. I would look to another reason. Perhaps price? Location? ??
I'd personally prefer a GOOD property manager. The owner is not as accessible, may not have the right contacts for repairs, usually doesn't know the LL tenant laws, and is emotionally involved. Just my 2cents as a prospective renter.
But what jw2 is saying is spot on. If you've shown it that many times and no takers, I'd bet big that you've priced it too high. Do you have the phone numbers for any of those who viewed it before? Why don't you call and ask them why they didn't rent it. Tell them the truth. Maybe they'll tell you the truth (people love being asked for their opinion and advice) And maybe they are still looking.
I'd personally prefer a GOOD property manager. The owner is not as accessible, may not have the right contacts for repairs, usually doesn't know the LL tenant laws, and is emotionally involved.
As both a renter and a landlord, I second Jkgourmet. A good property manager is well worth the money. Find one you trust, let them advise you, and follow their advice.
From a renter's standpoint, I prefer a Property Mgr. But this is because I had a prior landlord that didn't know landlord tenant laws and was sneaking into the house on a regular basis with no notice. He didn't know rules about security deposit returns and such. An individual landlord that knows the rules and acts professional would not have been a problem at all.
I think your issues is not related to who is managing the property - likely price is your issue.
Typically, you get lots of inquiries about a rental if it is priced properly and you are not expecting nuns with 800 credit scores.
SF is a hot market... I personally know several that have given up and rented outside the city... they said multiple applications were the norm for anything remotely in the ballpark.
One advantage of a good mgmt company is they will have a list of pre-screed applicants looking for what is being offered.
For tenants... it is a real help to only have to fill out a single application and fee to have access to maybe hundreds of units...
On the other hand, a good rental owner will provide service superior to that of most management companies... they often know the property, the neighborhood, schools and have an interest in maintenance.
The downside is... it almost takes a pro to operate in SF due to Rent Control plus many more regulations...
Property manager hands down. Landlords have a life to worry about and usually they got things going on and don't respond to issues with the same sense of urgency as a PM.
Give me a few mos or so to answer your question since I got my new apt for the 1st time & move in on 6/3/12, so I'll be dealing with a leasing agent from now on. I hope it's pleasant & all dealings go smoothly.
I always find leasing agents difficult to deal with, but at least they know and follow the law.
As a renter, I will never rent from an owner again. They think you have no legal rights and then can just trample all over you when they screw up. See the recent thread I started!
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