In this article:

• Rental agent vs. property manager
• Benefits of using rental agents
• Real estate agent rental fees
• Tips for finding real estate agents who handle rentals
• Questions to ask before hiring a rental agent
• How to rent a house without an agent

While real estate agents are generally associated with buying and selling homes, some also deal with rental transactions. This type of agent is often called a rental agent or leasing agent. You may consider hiring a rental agent to find tenants if you're new to landlording, live far away from your rental or simply don't have the time.

So what exactly does a rental agent do, and how are they different from a property manager?

Note: This guide is for informational purposes only. Zillow, Inc. does not make any guarantees about the sufficiency of the information in or linked to from this guide, or that it’s compliant with current, applicable or local laws. Landlord-tenant laws change rapidly and may be regulated at the federal, state and local levels. This resource is not a substitute for the advice or service of an attorney; you should not rely on this resource for any purpose without consulting with a licensed attorney in your jurisdiction.

Rental agent vs. property manager

A rental agent typically assists with the rental leasing process, which involves marketing the property, showing it to renters and ultimately filling the vacancy. Once a renter has signed a lease, the rental agent's job is complete. A property manager (for single-family and multiunit properties), on the other hand, can sometimes assist in the leasing process but also manages the property full time. 

Some rental agents take on property management duties after a vacancy is filled, but most do not.

Benefits of using rental agents

Marketing a property and finding tenants can be stressful for property owners — especially in areas where rent increases are more common and there's a lower chance of a tenant renewing their lease.

Because real estate agents are already skilled at marketing properties, they can be effective at quickly finding tenants for a rental. Here are some benefits of hiring a rental agent:

1. They're familiar with creating rental ads

Many rental agents spend a considerable amount of time writing real estate ads, so they'll have the resources to create a rental ad that features high-quality photography and a compelling description.

2. They will follow up promptly with prospective tenants

When renters inquire about a listing, 69% of them expect to hear back from the landlord or property manager within a day.* A successful rental agent will have time set aside in their daily schedule to follow up with prospective tenants. 

3. They have a flexible schedule to accommodate showings

Although most individual showings don't take very long, the total travel and preparation time can add up — and so can the time spent on showings if a renter isn't found right away. Rental agents will have flexible schedules that allow them to show properties throughout the day — even on weekends. They may even host a rental open house to help fill your rental property faster.

4. They're connected to more renters

Rental property agents often spend much of their time networking, and will generally be able to find renters quickly just by putting the word out. They will likely know other rental agents and be able to get leads from them.

5. They know the market

The market is constantly changing, and a rental agent will know when prices are trending up or down and what the renter pool is like for your area. They'll be able to help you competitively price your rental property to maximize your income while minimizing the risk of your rental sitting vacant because the price is too high.

6. They're experienced at screening tenants

Rental agents may have access to a tenant screening service. This is one of the main reasons many people hire real estate agents for rentals. Being able to quickly collect applications and screen prospective tenants — and ensure the next tenant is qualified — is a task that many property owners prefer to leave to someone with experience.

7. They can draft lease agreements

Most rental agents already have a basic lease agreement template that includes things like lease duration, monthly rent amount, payment due dates, security deposit terms and standard property usage rules. They'll be able to work with you to customize the lease, and they can assist you when lease renewal time comes.

Real estate agent rental fees

Rental agent fees will vary depending on your location and the services provided. Some rental agents only find tenants, and others may also work as property managers. Zillow’s director of industry outreach, Bret Calltharp, says that rental agents are generally paid a fee close to one month's rent for finding a tenant. 'If that agent then continues to manage the property, you'll typically pay a fee of around 10% to 15% of the monthly rent.'

How do real estate agents get paid for rental properties?

Let's assume your rental is priced at $1,200 per month. If a rental agent charges one month's rent for finding a tenant, you'll pay them $1,200 when a lease is signed. Should you continue to use them as your property manager and agree to pay them 10% of the monthly rent, you'd end up paying $120 each month ($1,200 x 0.10) for their assistance.

Some rental agents who manage properties also collect the rent — so they may be able to subtract their monthly charge upon receiving the rental payment and send you the rest.

Tips for finding real estate agents who handle rentals

Not all real estate agents handle rentals, and those who do will likely have a maximum number of clients they'll take on at once. When you're looking for real estate agents who rent homes, you should consider:

• Deciding how involved you want to be in finding and managing tenants
• Asking for referrals from friends, family, coworkers and other landlords 
• Checking online reviews for real estate agents specializing in rentals
• Making a list of a few rental property agents who may fit your needs
• Weighing the cost of finding tenants without an agent
• Comparing fees of rental agents and property managers in your area
• Making sure that the property-renting agent you choose is licensed and certified
• Familiarizing yourself with the process used by agents for renting property
• Arranging interviews with a few rental agents to see who's the best fit

Questions to ask before hiring a rental agent

Before you hire a rental agent, make sure they have your best interest — and your future tenant's — in mind. Here are some questions you could ask while you interview rental agents in your area:

• How much experience do you have in filling rental vacancies?
• How long does it typically take you to fill a rental?
• What services do you offer?
• What additional fees apply?
• How do you screen tenants?
• Will you create a lease and handle the signing process?
• Will you also manage the property after filling the vacancy?

How to rent a house without an agent

Not all property owners choose to hire real estate agents for rentals — many search for tenants and manage their property themselves. Renting a house without an agent means you'll reduce additional expenses and have more visibility into who's renting your property, but the process can take considerable time if you're not experienced. 

If you decide you're interested in renting without an agent and taking the DIY approach, Zillow Rental Manager offers easy-to-use tools for listing your rental, screening tenants, creating and signing leases (in select locations) and accepting rent payments online.

*Zillow Group Consumer Housing Trends Report 2019 survey data