When you’re looking for a new rental property, it can be tempting to try to go it alone. After all, the internet has made finding information easier than ever before, but rental markets are becoming increasingly more competitive, especially in city centres with bigger populations like Toronto, Vancouver, and Calgary. Working with a real estate agent could be the upper hand you need to help you secure the right rental property at the right price. Here are three of the top benefits of using a realtor to find a rental property in Canada.
1. Using a realtor is free for tenants
Did you know that using a realtor to find a rental property is free for tenants? “Realtors work for the landlord, not the tenant, so there is no cost to the tenant for using these services,” explains Lauren Haw, CEO and Broker of Record of Zoocasa.
In fact, many realtors offer additional services like finding roommates or negotiating a lease agreement on behalf of the tenant. Realtors can help the landlord vet tenant applications and find the right fit, but they can also help tenants. They do this by providing them with information about the property management company or landlord, so they understand if it’s a good fit for both parties.
2. Immediate access to more rental listings
Although listings on multiple listing services (MLS) are publicly searchable, real estate agents may see them first as there can be a delay between uploading the listing and when the public can view them. Realtors can potentially be notified of a listing that is coming soon to give their clients a first chance at seeing it. Also, realtors often have a network of property investors or landlords that they have worked with in the past and may be able to help secure a property before it becomes more widely available.
Most rental units listed on MLS are not available for the public to walk through without a realtor. “As more landlords are choosing to list with a real estate agent to find the best tenants, this could open up an additional pool of listings that you have access to when working with a realtor,” said Haw.
3. Data and information about the local rental market
Rental markets are becoming increasingly more competitive across the country. Rentals.ca reported that rental prices were up 11.8% year over year in October. The reality is, landlords can list their property for whatever they want. So, it’s important to have someone in your corner that can tell you if the property you’re interested in is being offered at fair market value. A real estate agent can also provide you with information about surrounding real estate markets if your location is flexible and you’re looking for more affordable options.
Working with a real estate agent can be extremely beneficial when looking for a rental property in Canada. Finding someone that understands what you need out of a rental property and also is familiar with the city and neighbourhood you’re looking in can make the process efficient and stress-free. We have real estate agents across the country that are ready to find the right rental property just for you. Contact us today to connect with an agent.
