If you’ve got a big-ticket property and want to take advantage of low-interest, high-interest financing, you’ll want to get your hands on a leasing consultant job.
The most popular kind of lease, in which an agency or contractor hires a property owner to manage the property, is known as a “rental contract,” and it has been around for years.
But with the rental economy shifting towards more affordable housing and lower prices, many renters are turning to more casual jobs like leasing.
“The rental market is definitely a little bit of a mess,” says Jim Lattimore, the president of rental brokerage firm Zillow.
“There’s so much going on.”
Lattheim is the author of The Rent Guide, which tells you the best way to save money on your rent, rent control and other rent-related expenses.
He also hosts the podcast Lattiamonkey, where he discusses the latest in housing, finance and real estate.
Lattimiere, who has lived in the United States for 40 years, has been involved in leasing since 2005, when he first worked for the company.
He says the industry is undergoing a “huge change” as more people find themselves with property ownership that is no longer affordable.
For the uninitiated, a rental lease is a contract between the property owner and a third party to manage and sell the property.
It can range from a one-year rental contract to a five-year lease.
A landlord or property manager is responsible for a number of aspects of a property’s operation, including managing the property and securing its tenants.
The key is to keep the property within budget, with a certain amount of security deposit.
For instance, if a property has a 20% deposit, the tenant pays 20% of the purchase price upfront and has no monthly payments, he says.
The lease is also a form of insurance.
“It is basically an obligation of the owner to make sure they’re able to provide the property to their tenants,” he says, adding that the lease provides a legal framework for tenants to contest claims.
“If they do that, they get the lease back.”
Lott says the rental market has changed considerably since the recession of 2008-09.
“Before 2008, most leases were 20-year terms, which was a lot less than now,” he explains.
“Now, most people are going for 20- and 30-year leases.
People are choosing to pay off their mortgage sooner, so there’s a lot of capital appreciation, so the lease is paying for itself.”
Lettimore says many people don’t realize the upfront costs they pay for a lease, such as insurance, taxes, property taxes and the cost of getting the property serviced.
“What you really need to consider is, ‘Do I really need the security deposit?'” he says that’s something that many people aren’t thinking about.
Lettimiere says that most people should look into getting a professional lease manager or leasing agent to work for them.
He suggests a professional leasing consultant is the best option for a business owner wanting to retain and grow a business that is a big seller.
Lott advises people looking to find a new lease hire a real estate agent, and he suggests checking out a website like Trulia.
“A lot of times, people don