This past decade has been a boom period for real estate investors. Real estate agents have done well in the process as well. Despite the income potential, what's hidden behind the scenes is the effort that goes into marketing and advertising. Realtors rely on good word of mouth to grow their business. A few bad apples can ruin their reputation and it takes a long time to build back their credibility.
When bad tenants reflect on the real estate agent's credibility
Real estate agents collect a generous fee for every lease they close. It can be as much as the first month's rent. In return they do a lot of the legwork to help seal the deal. They draft the lease agreement, do tenant screening, do the showing, and market the property for the investment property owner. But despite all this, nothing sours a relationship faster than an NSF on the rent in the initial months. Guess who the property owner calls the moment this happens? That's right. It's the realtor. They get blamed for bringing in a bum deal.
How to reduce the risk of a deadbeat tenant
There's a simple tactic for reducing the risk of a deadbeat tenant. Use Dwello rent collection for the payment process. It's fast. It's cheap (free, even for the base version), and reliable. What's more - the tenant has a vested interest in paying full, on time. Not only does this reflect on their credit score, they also get access to a whole basket of offers that's essentially a reward for good behavior.
Are you a realtor or an investment property owner looking to rent out a property?
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