I do assist renters looking for a home, and they are usually thrilled to find an agent that is willing to help.  This can lead to good referrals from them to friends who need to buy or sell.  It's sort of sad to see how shocked they are to receive good service! I will admit it can be hard to chase down those tiny rental commission checks, and many times they do not cover the cost of time invested.  But I see working a well-qualified tenant as an opportunity to win referrals.  My advice would be to have a conversation early with prospective renters regarding their qualifications to lease, so you will know if your time will be well spent.  And of course, devote the largest part of your business to buyers and sellers.

As far as lease agreements, be sure to make an extra copy for any tenants you are representing.  I like to highlight important terms of the lease on the copy, like payment deadlines, contact information for maintenance, how to get the security refunded upon move out, etc., and then go over those with the clients.  Also go over the importance of the move-in condition disclosure they must complete.  Especially if the rental market is hot, impress upon your clients the need to make their application complete and honest the first time they submit it. 

I list rentals. You have to take them seriously even though many of the people who call aren't serious. Also should be evry familiar with fair housing laws, section 8, etc.

 Hi, Hank...we have an extremely small rental market in my community. (26 rentals through MLS in 2014). If the renters are a family with children, I will represent them only for those properties that have a delead certificate or were built after 1978. Same thing if a property owner wants me to list their rental. 

The most important thing for renters to understand is that they must fill out every single line of the rental application. My office will not do credit checks on applications that are incomplete. That means getting all the phone numbers and account numbers that are requested!

When it comes time to negotiate, your agent should be able to tell you what your state requires a landlord to provide (if anything in particular). For example, in Massachusetts, a landlord does not have to provide a refrigerator. I often talk with property owners and try to help them realize that if they want a good, long-term tenant they can encourage that by buying a refrigerator or giving the apartment a coat of paint, making sure the apartment is thoroughly cleaned and that everything is working properly. Good tenants will take pride in their home. Give them an apartment that makes them feel good to live there!

Tenants have to understand that the rental market is often related to the end and the beginning of the school year. If you are going to move out at another time of year and "break" your lease, your landlord is most likely going to expect you to pay the remaining rent unless he can quickly find another tenant. On the opposite end of things, many landlords are willing to extend a lease on a month-to-month basis for a tenant who is trying to buy a home. 

It's important that tenants and landlords remember that a rental relationship is one which requires courtesy and compromise on both sides, as long as the items in the contract and according to the law are being met.

Rarely.

I do them and it's not always about the money up front. That being said I do quite a few rentals in my neighbourhood and the rents are high.

But if interested in the finances I recently I rented a home for $3,000. Two of the clients that came in did not like the house but liked what I had to say "especially helping them negotiate a lower rent". Those two renters resulted in additional rents of $1,500 and $1,800. So altogether about the commission we get for listing an avergae condo. All in the span of one week.

Not to mention that one person said, and I quote, "Thanks so much Richard. We'll probably end up buying in a year and will definitely give you a call".

I think the best advice I can give is to work with winners. Have them fill out a rental application explaining that all landlords require it and do your own preliminary investigation. If something looks fishy don't work with them.

Yes I do. I give them standard lease app upfront. I tell them they will need letter of employment , W2s,and paystubs. This will save you so much time. The only issue I run into alot is the response time from others taking up to a week or more. Which is unacceptable especially in our marketplace where most rent is prorated. They don't usually wait for first of the month.

Rarely, Hank Dugie . Not a stranger renter for sure. However if someone is from sphere of influence, past client or a strong referral, may be.

Definitely!  It's a good opportunity to meet new people who will tell their friends and family to call you the next time they need an agent.  Treat people right and the referrals will follow.

Here's a link to a recent blog post I wrote on the topic:

http://activerain.com/blogsview/4568034/not-ready-to-buy--lock-in-the-perfect-rental-to-tide-you-over

I look at rentals as the first step of a future sale transaction.  If they are renting today, they may be getting ready for a purchase in a year or two, and if you treat them right, they may refer you to a buyer.

I don't. I refer them to agents in my area who do nothing but. If I do a rental here, I'm lucky to see $100 at the end of the transaction--- and it takes many hours to get a rental done. My time is worth more than $100/hour. I have done a few high end rentals that paid me $1,000 in commission for clients who were definitely buying a year later. But just not enough money in it for me to spend the time.

I have rental listings. Landlord expect good credit, an application filled out , job references and landlord references.

Yes, I do.

Only on our own properties.

We don't focus on rentals