Phipps Realty does Rentals NOW!

Our rental department works to bring landlords and qualified tenants together, efficiently and carefully. Refer to the following paragraphs for information on rentals.

Landlords: List your rental property with the Phipps Realty Rental Division and benefit from superlative marketing strategies, thorough documentation and tenant screening services. We put your property, with pictures, online for the world to see. We show the property. Then we process the applicant. You do not need to hear from us again until we have applications and credit checks completed with a check for first month’s rent in hand. Leases are signed and the rest of the monies are given to you the landlord when the real estate brokerage fee is paid. Afterwards, the money and keys are distributed to the appropriate parties, everyone shakes hands and hopefully meet again to do business in the future.

Tenants: If you go through an agent, you will view more properties, see more prices, and they will walk you through the documentation from the initial application to the endorsement of the lease agreement. An agent who cares will find a good/fair deal.

Disclosures: Real Estate agents are required by law to disclose pertinent facts about a property to the best of their knowledge. Often time agents will not offer such information if it is not asked of them. Know what to ask. Know exactly what you are paying a month, including rent and utilities. Know everything you can about the property: history of water damage, type of heat, lead paint, mold, any easements, parking, how the neighbors and the neighborhood is, etc.

Real Estate brokerage fees: Landlords and property managers often times contract Real Estate agents to market their property and to find tenants. The fee is what is paid to the real estate agency. It is equivalent to one month’s rent for a 12 month lease. Often times the landlord will offer to pay part of the fee or the full fee, but it is also frequently the expense of the tenant. The fee is significant enough to account for it in the rent.

Ex1. $1000/month + fee for one year lease = $13000/yr

Ex2. $1050/month and landlord pays full fee for one year = $12600/yr

(You will get security deposit back assuming no maintenance/repair is needed as a result of your occupancy of the rental property.)

Call if there is anyway we can be of service. (401) 884-1030 x 72

Or email our rental division manager, Ian Phipps at ian@phippsrealty.com