Rental agencies
In this world, living as a middle class man is very difficult.Given the steep rise in the real estate followed by only a 25% fall in the prices in the downturn, owning a decent house is a distant dream. For commutation, there is a necessity of a car which can be hardly purchased because his job itself is at a high risk and believing that income, if he applies for a loan, 99% of the chances are that he may be denied a loan due to lack to proper security or clarity of guaranteed payment for the loan.
Hence, one needs to largely depend on rented assets for his sustenance. Naturally, rented assets means getting along with the owners of those assets failing which the renter may be demanded to vacate the place, car or any other asset. More than important is the issue of avoidance of disputes between the two parties which if arises may take years for the settlement in the court and both the parties may not gain irrespective of victory or failure. To overcome all these hurdles of dancing on the owners tunes, the renters prefer to initiate the rental agencies as the intermediaries.
These rental agencies claim to give the following benefits to the tenants:
Time saving mechanism that various listed assets are usually displayed on the rental agencys website and the renter can just decide on the best option available without having the trouble of searching for the assets on his own.
The standards of the asset maintenance are always inspected by these rental agencies with the motive of generating goodwill for their firm in the future and also with the fear that if the customer is not satisfied with the quality of the asset, he may not enter into any obligation with the rental agency.
The balance between the owners income and the properties he hold is always displayed on a 24 hour basis so that the renter is assured that he is dealing with a fair party.
Records of the payment of rentals and other charges are duly recorded with the effect that in case of any dispute, these can be referred for clarity.
Facility of electronic payment and the payment is usually collected through the renter as part of his payment of rent to the owner. In other words, the owner has the primary obligation to repayment of the rental agencies fees.
Report of the owners general life style and his commitment levels of relationship maintenance with his renters is also checked by the rental agencies before they suggest the renter to enter into a contract with him.
On the other hand, the owners also prefer renters recommended by the rental agencies for the reasons of security, guarantee of rental payments, and dispute settling methodology in case of any dispute in the future. In addition to these, collection agents and their payment can be avoided because the rental agencies take the responsibility of the renters payment.
The above listed points are in par with the general duties of any one employed in a rental agency. During the fulfilment of these duties, issues between the customers, owners and the agency promoters may arise which have to be estimated in advance and sorted by the rental agencies only.
However, the daily happenings in the news suggest a different picture of the same.
There are news on the pour that the owners show a lot of discrimination even when the rental agencies approve some renters. On persuasion, even if they let out, the rental amount is quite huge in comparison to the let out rental figures of the other properties within the same rank and the rental agencies are not able to do any justice to their clients in this regard. Citing this as a reason, efforts are being made to reform the laws so that the rental agencies have a say in the decisions taken by the owners so that they can help more individuals in their necessity.Even if the law is passed, it cannot be enforceable because ultimately the owner has the primary right about his property and as such, against his decision ; the rental agencies cannot any action. Because of such a clash in ideologies, there is a whole lot of mismatch between those seeking the assets and those who possess those assets. The result is that the assets are being wasted without usage and the asset seekers wait is extended without any end. Instead of fighting through courts and laws, if the rental agencies try to convince the property owners about the loss they are making due to non-letting of their assets, there may be certain improvement.
The next in line is the negligence of the workers in the rental agencies that there are reports that even when the clients have made the payments, the same was not being credited to the owners account in time with the result that the owners resort to situations like hiring the collection agents to recover the payment from the renter. The renter on the other hand is confused that he has already made the payment electronically and if he pays again this time, what is the guarantee that he will be reimbursed with his prior payments. There are instances that even on contacting the rental agents and receiving assurances of payment from them, collection agents have forced the renters to make the payments. In this way, the renters are sometimes double charged for some payments and for the ordinary making a double payment is not a joke.
But then, without rental agencies , the renter may hardly be able to acquire an asset for rent or lease. Then, what is the solution The solution is to find effective rental agencies who are not negligent in their duties and maintain good rapport with them and the asset owner so that he may not end up into any painstaking trouble which may destroy his career and family life.
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