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Kansas City Property Management Information

What Is a Leasing Only Service?

Tom Sedlack - Thursday, June 23, 2022
Property Management Blog

As of last year, Kansas City is one of the top 10 housing markets in the US for buyers. When you look at the numbers and the affluent area, it’s easy to see why. It’s foolish for any landlord to miss their chance in this market!

But whether you are a long-time realtor or first-time homeowner, managing a property isn’t easy. The responsibility of advertising, finding tenants, and maintenance is a juggling act no one can master alone. Let a leasing-only service lend you a hand!

A property management company with a leasing-only service will give you an extra hand. It will put you on the right path to earning a passive income.

Below is a leasing-only service guide to help you understand how it can help you. Scroll down to learn more and get a jumpstart on the process!

Understanding Leasing-Only Services

A property management company with a leasing-only service will divide landlord responsibilities. These services can include advertising, placing tenants, and providing rental evaluations. 

The key to understanding leasing-only services is knowing that once the lease is signed, you, as the landlord, take responsibility for the property. The goal of the leasing-only service is to help you get started and ensure you are on your A-game.

Leasing-Only Services Explained

A leasing-only service will handle filling your vacancies. Finding tenants—especially suitable ones—is an arduous process. Hiring a leasing-only service gives that responsibility over to the property management company.

Their services will work with a real estate agent to advertise your property to bring in potential applicants. Then they take care of the grueling process of sorting out the good tenants from the bad. The tenant screening will provide a thorough evaluation of every applicant.

The process will verify the potential tenants’ income. It will also perform a credit and background check. The leasing-only service may even go further and interview and evaluations of the tenants. 

All the data they collect will leave you with responsible tenants. Think of the leasing-only service as a full-time recruiter. They handle the research, so you have time to focus on other investment properties.

Pros

Finding the right tenant is a challenge. It’s time-consuming, and if you don’t know the right questions to ask, it can end in eviction. Using a leasing service will save you from stress by handling that step instead.

The service will save you time and money. And you’ll have peace of mind that your vacancies will have quality tenants.

Cons

A downside to a leasing-only service is that once the tenant signs the lease, you take over. The arrangement is only there to help you get started. Before the tenant signs the lease, you need to make sure you're ready to handle all other services. 

This includes maintenance and rent collection. 

Start Your Property Management off Right With a Leasing-Only Service

The 33rd Company’s leasing-only service is here to manage your real estate investment! We’ll advertise your property and find quality tenants. It's a stress-free process.

Drop us a line today for more leasing-only service tips! We’ll help you get off on the right foot!


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