I am a homeowner of a two family house. I have an apartment for rent. I was thinking about using a real estate to help me find a tenant. What I want to know if the real estate would charge me a fee for this?
2007-12-02 10:41:37 · 10 answers · asked by dobe3378 1 in Business & Finance ➔ Renting & Real Estate
They do charge a fee. You will have to just ask around.
2007-12-02 10:45:17 · answer #1 · answered by claudiacake 7 · 1⤊ 0⤋
Yes, the normal fee in my locale is equal to one month's rent.
I have owned rentals for ten years and only used a real estate agent once. I would not recommend using a real estate agent to find a tenant. Ity was the worst experience that I've ever had.
The agent is working for the fee, their goal is to get someone in the apartment ASAP. Once the tenant is in, they do not care what happens. This is not in your best interest.
2007-12-02 11:27:48 · answer #2 · answered by ? 6 · 0⤊ 0⤋
Normally they will charge one month's rent to place a tenant. However at that rate you'd be MUCH better off by turning management over to their property management department. The typical fee is 10% all rents collected and that includes the placing of tenants. Given that one month's rent equals about 8% of the annual rent, paying 10% for a full service manager is a sound financial desicion.
A full service property manager will handle all of the scat work of being a landlord. Placing tenants, getting evictions quickly and legally when needed, handling minor repairs for the cost of parts, etc. Any property manager worth his or her salt has contacts with tradesmen to provide services such as HVAC repairs, plumbing, electrical repairs, etc. usually at discounted rates. This includes committments for emergency services, again at much better rates than a single-unit landlord could ever negotiate. The first time that a furnace or water heater takes a "dirt nap" on Christmas Eve, you'll be VERY thankful that you had a good property manager on duty!
2007-12-02 11:06:50 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
There are companies that will help you find a renter, they will screen them and run a credit check and yes they will charge you a fee. The service is free to the tenant (minus a non refundable fee for running a credit check) and it will cost you either one months rent or 10% of the annual rent whichever is greater.
2007-12-02 11:45:20 · answer #4 · answered by Weimaraner Mom 7 · 0⤊ 0⤋
They'll charge a fee if they find a tenant.
2007-12-02 12:17:53 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
Yes, realtors who deal in rental properties will certainly charge the owner a fee - that is what their business is.
2007-12-02 11:06:17 · answer #6 · answered by Anonymous · 1⤊ 0⤋
No. The above answers are wrong. The tenant pays one month's rent to the real estate agent, teh month's rent to you, and one month for a security deposit in an interest bearing account.
That's why tenants need three months rent to find an apartment.
2007-12-02 10:49:27 · answer #7 · answered by Anonymous · 0⤊ 5⤋
The realtor will charge one month of the rent (ususally). This is paid by the LANDLORD.
Micheal, you are WRONG.
2007-12-02 10:59:57 · answer #8 · answered by Anonymous · 1⤊ 0⤋
I'm not too sure if they would charge you but you could put it up for rent at www.apartments.com, www.rent.com, and www.forrent.com
2007-12-02 10:44:41 · answer #9 · answered by Anonymous · 0⤊ 1⤋
they work on a commission it a percentage of the rent
2007-12-02 11:44:57 · answer #10 · answered by Tracer 5 · 0⤊ 0⤋