When selecting a rental property it is important to know your audience. The majority of what you find on Craigslist falls into three categories: professionally managed, listing agent/brokers, and independent. Here is how to spot the difference and some tips for dealing with each type.
Professional Managed
It is pretty easy to tell if a property is professionally managed and most ads are pretty transparent. Dead giveaways include floor plans, professional photos, and mention of EHO. Many ads promote the actual companies. Names to look for include WC Smith, UIP, Keener Management, Bernstein, Equity, etc. The benefits of working with a professional managed property is that they are usually pretty responsive and professional. They are in the business of showing apartments and many have it down to a science. Most of the companies represent numerous buildings, so a management company’s website can be a good starting point- especially if you find craigslist overwhelming. On the downside, there is less room for negotiation. Management companies like to keep their buildings as full as possible, so that means you have to make decisions quickly. Also they are highly visible. They have entire teams and resources dedicated to making sure their apartments are seen. That means if you don’t take an apartment immediately, there is likely someone else right behind you.
Listing agent/brokers:
These ads can look similar to a professionally managed ad. The pictures can look professional and they too have to adhere to EHO laws. However you are less likely to see a floor plan. The giveaway is that real estate agents and brokers always say which firm they represent. Highly visible brokerage firms include Urban Igloo and DC Apartment company. The downside to working with agents is that they work on commission. That means you may miss out on other properties that they don’t represent. Also, there is less room for negotiation. Agents represent clients with certain expectation so straying from those expectations can be a challenge.
Individuals:
Individuals are usually looking to sub-let their rental or rent a property that they own. These people can be the hardest to reach but you have the most room for negotiation. Many times these people are in a hurry to get there place rented. You can use that desperation to your advantage. This is a good opportunity to negotiate price, lease terms, and utility packages. On the downside, these people aren’t usually flexible. It is difficult to make appoints and open houses are usually brief with little notice. It can also be difficult to tell what an apartment looks like. The pictures are usually low quality and the apartment is rarely photo ready.
