Benefits of Hiring a Realtor
to Find a Rental Home
Vancouver's rental market is hot and for the more desirable properties in terms of price, size, location, etc. they will go very quickly. Typically these properties have multiple applications on them so the landlord can take their pick.
With an agent representing you, your credibility will automatically be at the top of the list assuming you pick a reputable agent that knows what they are doing. Not to mention they know how to sell you to the landlord, since they deal with this type of thing on a regular basis.
Saves you time
Agents can recommend properties that suit your criteria specifically and save you from dealing with potential internet scams and weaving through multiple websites.
Some tenants are not living in the city and realtors can view properties on their behalf through Skype/FaceTime or even record a short video tour.
Other executive tenants that are in Vancouver prefer having a professional streamline the search process and even preview properties for them. Typically these types of clientele understand that a local realtor will save them time and money and are ok to pay for exceptional service to get the job done.
Agents review all the paperwork and all the details of the lease. They give you peace of mind to ensure you don't sign a lease that is not in your best interest. There are many things you need to look out for and an agent will ensure to highlight these specific areas and can get the landlord to add/change the lease before the tenant signs off. Not to mention, some of the terms can be negotiated to the tenants' favour, such as price, term, early termination, number of occupants, pets, etc.).
We are strong negotiators and typically save the tenant money when signing a lease agreement. Since realtors know the local market well, we can determine when there is excess supply or if a listing has been on for a certain number of days.
Having the personal touch
Getting a local who works and lives in the city is very beneficial to someone who may not be particularly familiar with a certain area. The prospective tenant will receive a crash course in Vancouver life. Schools, groceries, parks, transit, parking, shopping, restaurants, cafes, gyms, yoga studio. Along with that comes recommending local professionals in the specific area whether it be a new doctor, dentist, hairstylist, florist, massage therapist, personal trainer or other professional. We typically have used these contacts regularly and know how is good at what they do, which is why we would recommend them.
Knowing the target market
- What if a building has a certain demographic or some other issue
- What about the leaky condo crisis in Vancouver? I don't want to move into a building with mold or water penetration issues.
- What about street noise and other factors which may not be obvious when viewing the apartment (external factors)
- Having a realtor is a huge asset because they know the developer and quality of materials in a unit. Some units may show very well but could be completely different once you move in. More than likely an experienced agent knows someone who has lived in that building or the building has some type of general reputation as being a good building or a bad building.
Your location calls for it
If you're going to be living in the heart of downtown in a major city, having a professional on hand would be helpful – and in a competitive market similar to New York City, a real estate agent is necessary to help you get appointments to tour available spaces.
You're relocating to a new city
As someone unfamiliar with a city's layout and neighborhoods, it could be a major advantage to call in a pro who spends their days scouring neighborhoods for available homes and apartments. Some employers also include agent representation as part of their relocation packages.
You're busy and can't look yourself
Whether you can't make it to your next city until your move date or you simply have a lot of important meetings, enlisting the help of an agent can eliminate that time crunch you've been struggling with.
You want to rent a single-family home
Unlike apartment buildings where a property manager is often on site, single-family home rentals can be harder to find listings for and schedule tours. A real estate agent will have access to the local multiple listing service and will know which houses are for rent, and should be able to get you access in a timely manner.
You want to rent in a mom-and-pop building
Similar to the single-family home rental issue, a desire to rent in a smaller building owned by a private investor may make visiting the property more difficult. A real estate agent with knowledge of all the buildings in the area and familiarity with the local investors will make it easier to find out if there's an open unit in that quadplex or three-floor walk-up.
You're having trouble scheduling a tour
If calls or emails to a property manager go unanswered, or you make it to the leasing office just after closing, it's a real estate agent's job to make that connection for you. With an agent representing you, it might be possible to schedule an after-hours showing or ensure the property manager knows you're serious about your inquiry.
The advantage of using a Realtor is that he/she knows the areas better than random searches on Craigslist. They are also familiar with certain buildings and their reputation. This helps when you are a stranger in a strange land.
Realtors are also used by distance landlords and people with a limited knowledge of English.
Realtors can confirm ownership of the property, so before you write any security deposit checks or send over any rent, you can rest assured that your money is being paid towards the actual owner.