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commission

Started by mairad
over 10 years ago
Posts: 11
Member since: Nov 2009
Discussion about
At last, who pays the commission for a rental? The owner of the prospective tentant?
Response by fieldschester
over 10 years ago
Posts: 3525
Member since: Jul 2013

Big landlord or small landlord? For the most part, I think big landlords pay 1 month commission to the broker who brings them a tenant, i.e. No Fee building. Small landlords have their apartment sitting there empty earning no rent for an extra couple months waiting for the broker to find someone who will pay their commission which they charge to the tenant at an even higher rate, unless the owner is smart enough to lower the barriers to renting and pay the marketing commission themselves, i.e. it works out better for the owner to negotiate the 1 month commission directly with the broker when he gives the listing and then to pay it.
"I will list your apartment free to you because the tenant pays my fee, oh and the added benefit is that you know they are qualified because they can write a big check upfront that proves they can throw money away" is actually not in your interests.

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Response by mairad
over 10 years ago
Posts: 11
Member since: Nov 2009

thank you for the response. That tells me that there is no rule. anything goes?

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Response by REMom
over 10 years ago
Posts: 307
Member since: Apr 2009

if a broker brings you to a no fee building, you will owe that broker a fee. make sure you visit no fee buildings on your own. brownstones and smaller builders often use brokers and it depends on the landlord, whether he is picking up the fee or not. if you use a broker, you will pay the fee.

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Response by fieldschester
over 10 years ago
Posts: 3525
Member since: Jul 2013

Unless the apartment is one of a kind to your specifications, or the broker saves you significant time out of your busy life by finding you an apartment and dealing with all of the headaches, or the apartment is significantly cheaper than an apartment you can find yourself without paying a fee, then don't pay a fee.

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