Tenant Placement: ZipRent/TurboTenant vs. Using a Realtor?
Curious to hear everyone’s experience with tenant placement services like ZipRent, TurboTenant, etc. versus using a traditional realtor to handle showings and the tenant acquisition process.
For example, ZipRent charges a flat fee of around $1,500, which in my case is roughly 65% of one month’s rent versus the full month’s rent I’d pay a realtor. Their service includes professional photos, market/rent analysis, listing the property, tenant screening, application management, and a remotely controlled lockbox that allows prospective tenants to self-show the property during a 2 window.
Has anyone had good (or bad) experiences using a service like this?
My biggest hesitation is the self-showing aspect. How comfortable are you with prospective tenants touring the property unattended? Will not having someone speak about the property hurt my chances? Any security issues? Maybe I’m being paranoid, but I’m picturing someone walking off with my brand-new appliances 😂.
On the other hand, I’m wondering whether having a realtor physically show the property leads to better results or gets a qualified tenant placed faster. My concern there is scheduling and availability. If the realtor can’t accommodate the times prospective tenants want to see the property, could we be losing good tenants simply because they move on to another property? (I live a couple hours away so i won't be able to show properties on the drop of a hat either)
For those who have tried both approaches:
- Did self-showings increase the number of showings or reduce vacancy time?
- Did you have any security issues?
- Did you notice a difference in the quality of applicants?
- Was using a realtor worth the additional cost?
- Which approach would you use again?
Would really appreciate hearing from anyone who has firsthand experience with either approach.
Thanks!