Chat Plus
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Real estate editor Maryann Haggerty and columnist Elizabeth Razzi respond to a question adapted from a recent online chat.
Renting out a house: We are using a real estate agent to show and screen tenants for a house we hope to rent out. Earlier you advised tenants that using a real estate agent would not help them. Can you elaborate and suggest an alternative?
Maryann Haggerty: Just to be clear, a would-be tenant in the Washington area does not need a real estate agent to find an apartment. It's not New York. But a would-be landlord? It wouldn't cost you anything to explore the issue and ask agents what they would do for you and what they would charge. Then it's up to you whether that's worth it.
Elizabeth Razzi: Renters don't need agents, but the brokerage Web sites are a good place to look for homes being offered simultaneously for sale or rent. Agents manage a lot of rentals owned by transient military and government folks. For you, as a landlord, an agent's services might be worthwhile if you don't have time to do the job right or are just too soft-hearted to turn down a renter with no references and a shaky credit history. Know thyself.
M.H.: But one thing your agent or other property manager needs to do is market your apartment beyond the brokerage Web site.
E.R.: Hey, I know it's tacky to blow your own horn, but the the rental search on washingtonpost.com is a useful tool that shouldn't be overlooked.
The next Real Estate Live chat will be 1 p.m. Friday.