Data from Bankrate shows that the median home value in Palmetto, FL, was $325,000 in October 2024. This is a drop of 11.6% from the same time in 2023.
Such a drop in real estate prices shows that it's a competitive market, and as a real estate investor, you need to make the right decisions if you want to succeed. One thing you can do to improve your chances against the competition is to work with a leasing only service.
However, you shouldn't rush into things. There are certain factors you want to consider when choosing a leasing agent. Let's go over some of them here.
1. Experience in the Local Market
When working with any real estate service provider, experience is one of the first things to consider. A company that has been around for years and has a proven track record is a much safer bet than one that has just started.
Additionally, you want to make sure that experience is relevant. Look for a leasing agent who has worked in the Palmetto real estate market for a long time. They'll have much better insights into the local market.
With the right Palmetto leasing services, you'll be able to make better-informed decisions about your property. They'll also understand seasonal changes well so you can make the right adjustments throughout the year.
2. Tenant Screening Process
Finding high-quality tenants will make your life as a landlord much easier and will help you maintain a steady cash flow. As such, you want to make sure your leasing agent has a solid process in place for finding quality tenants.
Ask about how they screen tenants. You want to ensure they're thorough and proactive. They should look into things like:
- Employment history
- Past rental references
- Credit scores
By looking closely at applicants, they can identify any red flags such as a history of criminal activity or unpaid rent. By avoiding such tenants and selecting ones with a better background, you'll be far less likely to face issues in the future.
You'll also have a better chance of finding tenants who want to stay longer. You then won't have to worry so much about your property becoming vacant again.
3. Communication and Responsiveness
Clear communication with your leasing agent is essential, so this is something you need to think about. From the first time you contact them, consider how easy they are to get in touch with and how responsive they are.
You want to find a leasing agent who doesn't leave you waiting around. They should be able to answer any questions quickly and clearly so you can stay up to date with everything that's happening with your property.
Working With a Leasing Only Service
Finding the right leasing only service can help you get ahead in the Palmetto real estate market. A reliable agent will be able to offer expert property management tips and renting guidance in Palmetto that will help you achieve your investment goals.
PMI Elite Properties is a full-service real estate asset management company serving Palmetto and the surrounding communities. We have years of experience in the local area and use the latest technology to help you achieve the best results. Take a look at our property management page to learn more about our services.
