Letting out real estate demands real estate management and real estate management is not an easy job for everyone. In fact, a lot of people find it so much of a hassle that they prefer keeping their property vacant instead of letting it. Real estate management demands time, which they will rarely have. It is not just about finding tenants and collecting rent from them. The property manager is also about ensuring that he or she does all the duties that a landlord/landlady is required to do.
Real estate management is about verifying the credentials of the tenants before the homeowners actually let out their property to them. It is about ensuring that all the paper work is complete and correct, the tenancy agreement and so on are properly done. Real estate management activities also include maintenance, painting, polishing etc of the house when the tenants move out and before the new tenants get in.
The homeowners can hire a real estate management firm to do all these activities on their behalf. This will mean that what they receive as an income by letting their property will be reduced (due to the commission/ fee charged by the real estate management firm). But that is just a small price for the convenience that a real estate management firm brings to the homeowners.
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