The Nashville TN real estate market has a conspicuous shortage of properties for rent/lease . . . and an oversupply of folks in need of a rental.
This is a phenomenon that is giving rise to the creation of a market that’s (until recently) been flying under the radar . . . almost non-existent.
A very small number of “Property Management” companies, a relatively shallow pool of individual Property Managers, and Landowners handling their own properties have largely “controlled” the rental market without much (if any) competition.
Necessity, though, is the Mother of invention.
- More House and Condo owners are choosing to keep and rent their properties instead of selling them at “deflated” prices.
- More rigorous Lending guidelines and personal financial set-backs have created more folks needing to rent due to inability to qualify to buy.
REALTORS want to serve these Owners and Renters hoping to create a measure of loyalty (relationship) that will lead to future home/condo sales or purchases and/or referrals . . . but there’s a quandary . . .
Helping these owners and tenants bears a relatively high level of RISK for REALTORS who simply want to “help” these folks. Good and generous intentions often leave foggy perceptions of levels of representation . . . As long as things are rolling along smoothly – no problem!
When things go awry, what then?
Without establishing WRITTEN Agency (Representation), all parties to this loose relationship are “cruising for a bruising” which very well may end with lawsuits and much anguish.
Principal Brokers of local firms are gradually getting their arms around this issue as they find more of their agents “Dabbling in Property Management”.
My belief is that my firm must respond to the needs of the market . . . and that we must do it in a way that is consistent with our business model and philosophy which emphasizes excellence in all things we do . . . and NICHE orientation.
We recently began offering “Property Management” and “Tenant Representation” and have developed a model for these components that includes systems and leverage for landlords and Tenants . . . all at very reasonable fee structures.
The Tenant Representation piece is a relatively new animal for the Nashville market. Our Tenant Reps will require an exclusive Tenant Representation Agreement, a modest “Up-front” fee along with a guarantee of a reasonable commission upon execution of a lease. We have myriad avenues available to us to find suitable rentals houses and condominiums, are fully equipped to negotiate the lease terms, and will cross the “t’s” and dot the “I’s” with the appropriate paperwork.
Our Tenant Reps do the same thing for Renters that our Exclusive Listing and Buyer Agents do for Home sellers and Buyers – Represent their interests.
I don’t think I’m stretching it much when I say: “It’s a veritable JUNGLE out there”
If you are:
- A tenant in need of a place
- A House/Condo Owner in need of a tenant
- In the mood to BUY and House
- Have a house you’d like to SELL
- Interested in exploring investment properties to flip or keep and rent
Contact us NOW to schedule your initial consultation