At Metropolitan Property Services, we have found the Multiple List Service (MLS) to be an useful tool to assist in renting out your property. The MLS you used when purchasing your home, is the same MLS we use when leasing your home.
Your entry into the MLS will open up the ability for realtors to find and recommend your property to their clients. In addition, the largest real estate websites pull their inventory from the MLS. Your inclusion in the MLS will allow prospective tenants to find your property.
Our experience has shown that the number one obstacle to profitability is the vacancy rate. We may recommend that you use the MLS when marketing your properties to get them rented faster.
Fees charged for this service average 3% of the total year’s lease amount. For example, if your home rented for $5,000/month, by representation from another agent, your MLS fee would be $1,800. That’s only about 1⁄3 of one month’s rent. If utilizing the MLS can get your home rented out just 2-weeks sooner, the service pays for itself and puts money in your pocket.
And, most importantly, this fee is only payable if another agent rents out your property. If Metropolitan Property Services leases your property, you do not have to pay the MLS fee.