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May 26, 2023
Owning a property is not only an achievement, but also a responsibility that requires knowledge, time, and dedication. For this reason, renting out a property through a real estate agency means receiving constant support and enjoying various benefits, as this process can be more efficient, secure, and profitable if carried out with a company that has experience and knowledge of the market. Find out the reasons for renting out your property with a real estate agency.
Renting out a property can take approximately 30 to 180 days. This means being available to show the property several times, answering calls from potential tenants, and addressing their concerns. It is also important to be available to hand over the property and have the necessary knowledge to carry out the handover process correctly. On the other hand, if the process is handled by a real estate agency, they will be responsible for accompanying both the owner and the tenant throughout the process.
Contrary to popular belief, direct insurance is not really a cheaper option. On the contrary, the owner must bear the costs of promoting and advertising the apartment for rent in Medellín through websites that do not guarantee that it will be rented. Furthermore, if the tenant is found through an intermediary, they will usually have to pay a placement commission in addition to the insurance costs, which are paid in full and in advance at the beginning of the contract, rather than monthly as is the case with the administration costs paid to the real estate agency.
Renting an apartment in El Poblado or any other part of the city without the assistance of an expert can be very risky, as this type of process exposes important information such as personal data, income, and knowledge of your properties, which is the main scenario where real estate scams occur.
Thanks to our knowledge, real estate agencies offer a price that is in line with market behavior. This way, we ensure that the apartment for rent in Laureles or any other area is not priced higher or lower than the going rate in the area. In addition, in order to choose the right tenant, we analyze each person to ensure that they are a qualified tenant.
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With direct insurance, the owner must keep track of the tenant's payments and, in the event of any eventuality, must report the late payment to the insurer. However, the owner will not be able to receive the payment directly due to the additional paperwork that must be completed.
On the other hand, when the owner leases their property directly, the rent is paid into their personal savings account, which makes it difficult to set up late payment procedures. On the other hand, renting the property through a real estate agency not only guarantees the rent, but also ensures payment on the same date regardless of whether the tenant makes the payment or not, since the real estate agency is responsible for all collection procedures, as well as for the payment of the administration fee and other obligations that may be agreed upon between the parties involved.
This is why, in most cases, owners decide to leave their property in the care of real estate agencies. With us, at Inmobiliaria Alberto Álvarez, your property will be safer, more secure, and in expert hands. We recommend taking into account the risks that may arise when renting a property directly, and always seek appropriate support.
Source: La Lonja, The Real Estate Guild of Medellín and Antioquia.
Written by: Valeria Ospina – Marketing Analyst
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