Philadelphia Rental Property – Hired An Agent

By | December 10, 2007

My previous tenants had left at the end of July this summer. They had been renting from me for almost 2 years. I was hoping they would stay longer, but the husband had to relocate for his work. They were good tenants and did not give me any issues.

Instead of hiring a real estate agent, I thought I could find new tenants myself. I posted up an ad on Craigslist and the web for my rental property. I received a lot of emails indicating that they are interested in seeing the place. I did some preliminary screening over the phone.

Since Philly was two hours away from New York City, I had to schedule a day for my trip. I went there on a weekend. Two prospects were supposed to show up to see the house. Unfortunately, I waited for five hours and nobody showed up. I called them and one of them told me her car tires broke. The other one didn’t answer the phone. I couldn’t believe how bad these prospects were.

I went home that day very disappointed. I knew it wasn’t so easy to find tenants, despite having so many people interested in the house. Eventually I gave up and called my real estate agent. I told him I was looking for tenants and let him do all the dirty work. In return, he would receive a month’s rent for finding me tenants.

A month later, in September, he found me a tenant with decent credit history. The tenant’s occupation is a mechanic. He collected the security deposit and first month rent for me, deducted his fees and mailed me a check.

The monthly rent for my property is now $900, compared to $950 from my previous tenants. Hopefully these tenants are good and wouldn’t bother me much.

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