U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Real Estate Professionals
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
 
Old 05-30-2008, 11:23 PM
 
Location: Cliffside Park, NJ
26 posts, read 105,887 times
Reputation: 19

Advertisements

Just wondering how it is everywhere else.

Here in New Jersey, at least around the Bergen County area, usually the tenant pays the agent a commission equal to 1 month's rent. In New York City, it equals 10% of the year's rent.

I've seen many many clients who came from other parts of the country who are appalled when i tell them that the tenant has to pay.

How is it everywhere else???
Quick reply to this message

 
Old 05-31-2008, 06:10 AM
 
15,854 posts, read 22,045,775 times
Reputation: 6901
In Florida it is the Landlord, at least if the Landlord uses a company, in my case...I never use a company and get it rented out very quick with the best tenants any one wants to have. So in my case it is porven I don't need a realtor helping me. Many relators told that I would not rent it out myself, since the realtors had the right sources....funny, they use the same internet sites as I use. It made me more creative and more anxious to proof them wrong.
Quick reply to this message
 
Old 05-31-2008, 06:42 AM
 
Location: Raleigh, NC
998 posts, read 3,591,533 times
Reputation: 605
The listing agency/owner pays the commission. Not the tenant here. (I don't handle rentals normally - but when I have shown the very few, it is usually a flat fee commission).
Quick reply to this message
 
Old 05-31-2008, 07:32 AM
 
Location: Palm Coast, Fl
2,248 posts, read 6,055,100 times
Reputation: 970
That's so funny... I just was with a buyer yesterday from Queens who is going to rent out the property. I explained just finding a tenant vs property management and what it would cost her in either senario. She too was appalled. Being from NY also I knew right away what she was thinking. Here in my area the landlord pays the fee.
Quick reply to this message
 
Old 05-31-2008, 08:02 AM
 
Location: Danbury CT covering all of Fairfield County
1,878 posts, read 3,970,385 times
Reputation: 752
Here, the landlord pays the commision. Of that commision, 50% goes to the listing side (landlord) and 50% goes to the brokerage who brings the tenant.
Quick reply to this message
 
Old 05-31-2008, 08:08 AM
 
Location: Palm Coast, Fl
2,248 posts, read 6,055,100 times
Reputation: 970
Ah yes, I forgot that part. Here a rental could be worth only $50 to the agent that brings the tenant to a listing. It's a very lopsided proposition to say the least and something that homeowners/tenants should be aware of. Be prepared to go from agency to agency if you are a tenant and be aware of how the agency you are listing with is passing on the commission, if at all.
Quick reply to this message
 
Old 05-31-2008, 01:56 PM
Status: "Speaking truth to power since 1968." (set 12 days ago)
 
Location: Mountain Ranch, CA The heart of Calaveras County
6,293 posts, read 12,140,156 times
Reputation: 5061
In CA it is customary for the landlord to pay any rental commissions.

After reading so many posts about the way real estate is transacted elsewhere in the country, I am SOOOOOOOOOOOOOOOOOO glad I practice in CA.
Quick reply to this message
 
Old 05-31-2008, 05:07 PM
 
Location: Cary, NC
2,408 posts, read 7,621,859 times
Reputation: 1330
As everyone else stated, it depends on the location. I know from experience that big metro areas like New York City and Boston, the [potential] tenant pays the broker. In other areas that I've lived in, the landlord pays the broker to lease-up the place.
Quick reply to this message
 
Old 05-31-2008, 06:09 PM
 
Location: DFW - Coppell / Las Colinas
19,152 posts, read 18,512,036 times
Reputation: 18724
In our market, it's not worth our time to show tenants homes and most agents only handle sales. If I have someone ask I give them a list and tell them I will show them 2 homes after they've driven to see them. Or I give them the listing agents name & let him handle the lease.

The landlord usually pays the agent 25-50% of the 1st month.
Quick reply to this message
 
Old 06-02-2008, 01:15 PM
 
Location: Skaneateles
142 posts, read 569,138 times
Reputation: 68
In my area in NY state, it can go either way. In most cases, the owner pays the commission (usually one month's rent), but some listings say "collect commission from tennant". I avoid those like the plague. I don't think the rental business is all that bad because rentals are so hard to find here and I know that in one year's time, I may have a sale from a still grateful client.
Jo
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $89,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Real Estate Professionals
Similar Threads

All times are GMT -6.

2005-2015, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top