landlord listing own rental by self vs broker

I am thinking about listing a rental unit in my property by myself but it seems that i am unable to post to Zillow without going through Street Easy and paying $185. Is it worth the cost to market the rental myself? Reason why I wanted to do it myself was I wanted to screen tenants myself rather than a broker pushing to take who ever applies just so they can get commission.

mjkelly

in General Discussion 5 years and 10 months ago

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Guest User | 5 years and 9 months ago

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I actually just listed one of my units on zillow trulia and hot pads for free. I’ve gotten 8 applications in a couple of days.

mozeeatupu | 5 years and 9 months ago

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Now you pay the broker, so just list it online and let the tenants find you.

BKALLDAY | 5 years and 9 months ago

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You should not feel compelled to take any tenant your Broker sends. It is your home/property. Be sure to have your hard and fast list (No smoking/pets, etc.) for your broker and get with a good and reputable one. You can also do what is suggested above too but don’t let anyone dictate what your needs are. If you do decide to do it yourself it would be good experience for you for the future. Just don’t make it an expensive or poor lesson. Good luck.

Guest User | 5 years and 10 months ago

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it is very difficult to do it yourself now because of the cost of credit app/background check . Not finding any cheap sites that will do this for you.

WRPListings | 5 years and 10 months ago

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I think everyone has to make this decision for themselves. Listing yourself is more work, but you apply your own style and lens to the process. Since we live in the building with our tenants, I knew we wanted to meet the tenants a few times and really get a sense of who they are. This was fairly labor intensive the last time around, but it will pay off in the spring and summer when we have to share the garden!

GreenThinker | 5 years and 10 months ago

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Use StreetEasy, it’s what everyone goes on, and most importantly; feel comfortable and safe on. Craigslist is pretty much dead at this point for rentals. Like someone said, the laws are very pro-tenant, and a broker is going to bring anyone in that can afford it. And just cause someone can afford the apartment doesn’t mean they won’t give you any problems. Listing it yourself gives you a lot more control. I prefer to have everyone email me directly on a email made just for the purpose of renting the apartment. When you have someones email and full name, you can do a quick google search, you can look them up in the ny court system. If i find something i don’t like, i don’t even respond to them.

Once someone messages you that doesn’t turn on any red flags from an online search, you can meet with them, get a feel for their personality and attitude. Have a conversation with them, first impressions are a lot. If you live in the building, you really want to vet an individual. Ask them when they go to sleep, i’ve had a tenant that couldn’t sleep at night, so at 3am, i’d be wo ken up cause he’s walking around his room doing god knows what.

And most importantly, you don’t have to give anyone a full 1 year lease. 1 year leases are because of brokers. Someone paying a 1 months broker fee wants to know they’ll have the place for at least a year. All my leases are month-to-month. If our landlord-tenant relationship is good, they can stay as long as they want. But if they have really bad habits which unreasonably effect my or other tenants comfort/safety; We part ways. And thats what i tell them, i’m not going to tell you to move out in a few months, i’m just protecting myself if this turns into some nightmare situation. And even from a legal prospective, it’s just a simpler process if there’s any problems with a tenant, cause its your right to not renew a month-to-month tenancy, no questions asked, no 30 days for the tenant to “fix” the issue or change their ways.

peaceout | 5 years and 10 months ago

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Understand the new rent laws enacted in June 2019. They are very pro-tenant. One mistake can cost you in legal fees. Hence, I recommend you work with a broker who knows the ins & outs of what a landlord can do. A good broker will have the apt professionally photographed, should have a floor plan, showsheets & market the place. As a real estate agent, I treat my rentals as if they are sales, and am very successful in attracting qualified tenants quickly. The tenant often pays the commission, thus the quality of the tenant I find usually solid. Let your agent do the work.

aqueenlee | 5 years and 10 months ago

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I used Craigslist & sourced 2 tenants that were not nightmares. I did partner with a broker friend & another background check professional. Only out of pocket was cost of background checks. Like u I wanted to interview on my own. Everything worked out fine.

helen40

in General Discussion 5 years and 10 months ago

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If you develop a relationship with a good broker, then there is little to no risk that they will “take whoever applies for the commission.” If they send you a lousy tenant, then you wouldnt work with that broker again, so they are “one and done.” If they find you a good fit, then you might (should?) work with them again.

Its all about how you measure the value of your time vs. the potential risks of a broker who finds you a poor tenant. And you risk finding a poor tenant, too.

We have a garden rental and I am happy to allow the broker to do that work. No bad tenants in 20 + years.

WRPListings | 5 years and 10 months ago

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https://www.listingsproject.com/

WRPListings | 5 years and 10 months ago

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Try the listing Project. It’s $35 a week and we got a lot of responses, and found several qualified candidates through the listing. I’m glad we ultimately did it ourselves, although it was more work. We got great tenants that we like. You can use a service to do a credit/background check, and check references yourself.

DouglasAlan | 5 years and 10 months ago

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I leased my top floor eight years ago with a listing on Craigslist, and I got pretty good traffic. I had the place rented in under a week. If you’re wiling to put in the time to answer emails and show the place, there’s no need to share money with anyone. I used this site for my background check (which I think is illegal now) and a standard lease agreement, which I added a couple riders to: https://www.e-renter.com/.

rwood | 5 years and 10 months ago

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I have no experience, but I’ve seen many landlords list their apartments in their local facebook neighborhood groups or facebook market place.

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i recall renting and when i lived in a smaller city was used to going directly to landlords. when i moved to NYC we had to pay a broker to find our first apt (in the area in which we wanted to live) and was sort of disgusted. Please, for the benefit of tenants, try Craigslist as urbandad suggests. i had to look for an apt for someone recently and i went to craigslist and it really seemed like it was a useful and current way to market apartments (the person i was helping did find a nice

hkapstein | 5 years and 10 months ago

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    ["user_pass"]=>
    string(34) "$P$Bi/rarQU.AidQ5DWnWIzXSi7UikLcx/"
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Post on craigslist for free and see how it goes. Then decide if you want to try streeteasy. Research non-discrimination rules before you start.