Why do we charge a leasing fee?
A leasing fee is a one-time fee charged by property management companies to cover the costs associated with finding a resident for your property. This fee covers a variety of services that go into the leasing process, including marketing your property, screening potential residents, coordinating showings, and preparing the lease agreement, all very crucial components to the success of your rental property.
Our team here at CRM Properties has years of experience in the property management industry and can help you find the right resident for your property quickly and efficiently. There’s a major difference between good and bad residents, and we work hard to place the highest quality resident in your rental property, and take the time and stress of the leasing process right off your hands.
What is included in the leasing process?
Performing rent analysis on the property: Before we can begin marketing your property, we'll perform a rent analysis to determine the optimal rental price. We'll take into account factors such as location, size, and amenities to ensure that your property is priced competitively and comparatively to fair market rate for rent.
Marketing the property: Once we've determined the rental price, we'll start marketing your property to potential residents. We'll create a listing for your property on popular rental websites, social media, and other online platforms.
Coordinating showings: As interested prospects contact us, we'll schedule showings of your property. We offer showings from the hours of 8 AM to 8 PM to ensure potential residents can view your property outside of the normal 9-5 daytime hours. We offer support throughout this process to ensure showings run smoothly and to answer any questions applicants may have. Our showing process offers convenience to prospects, allowing for your property to have more exposure.
Screening applicants: Once we've received applications from potential residents, we'll conduct a thorough screening process. This includes running credit and background checks, verifying employment and income, and checking references from previous landlords. Our goal is to place high quality residents in your property, so this step is crucial.
Preparing the lease: Once we've found a qualified resident who has successfully secured the property by signing our intent to rent form, we'll prepare the lease agreement. Our team has years of experience in drafting lease agreements that protect your interests as the property owner.
Collecting security deposit: We'll collect a security deposit from the resident before they move in. This deposit is held in an escrow account and will be returned to the resident at the end of their lease term, provided that there is no damage to the property. We have also teamed up with Rhino, a deposit-free alternative for renters, making move-in much more affordable.
Creating move-in inspection report: Before the resident moves in, we'll create a move-in inspection report. This report documents the condition of the property and any existing damage not caused by the resident. It ensures a smooth process at the end of the lease term when processing the deposit.
Charging a leasing fee is a necessary cost for our Indianapolis property management company to cover the services that go into finding a qualified resident for your property. A vacant property generates no income, and the benefits of placing a quality resident go far beyond on-time rent payments and maintenance. Leasing is crucial in the success of your investment.
Contact us today at firstname.lastname@example.org or 765-459-8034 to learn more about how we can help you manage your property effectively and efficiently.
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