U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 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)
 
Old 06-23-2012, 03:29 PM
 
Location: SoCal
657 posts, read 2,318,198 times
Reputation: 435

Advertisements

Hi All,

Just wanted to get an idea of what a reasonable charge would be for a realtor to draw up a lease renewal.

My realtor is great in that they found the tenant I currently have and did all the work (background check, move-in inspection, collect deposit and first months rent and draw up the original lease). I of course compensated them for all this work and included $100 as a documentation fee.

Now my tenant wants to renew and I asked my agent to draw up another 1 yr lease agreement. In essence all they need to do is take the old lease, change the dates on the lease and get both parties to sign electronically. My agent said they won't charge me anything, but I did appreciate all their help throughout the leasing process as well as the time spent during my home purchasing process ... so what question is, what is the typical documentation charges for a realtor? Is the $100 reasonable as I provided previously, or is it something more or less in order?
Reply With Quote Quick reply to this message

 
Old 06-23-2012, 05:55 PM
 
Location: Salem, OR
13,741 posts, read 31,556,293 times
Reputation: 12105
Out here the property managers charge about $75-$100 so it is reasonable for my city, but a lot depends on the cost of living and such.
Reply With Quote Quick reply to this message
 
Old 06-24-2012, 01:53 PM
 
25,339 posts, read 37,471,570 times
Reputation: 13261
We charge $ 50.00 for the lease preparation....

If you believe it is nothing than changing some dates than why don't you do it yourself and buy a lease at the UPS store...BUT keep in mind than any error may cause you to loose in court if you end up having to deal with an eviction.
Reply With Quote Quick reply to this message
 
Old 06-24-2012, 11:00 PM
 
Location: Phoenix AZ
5,920 posts, read 10,440,488 times
Reputation: 9226
Quote:
Originally Posted by mricu View Post
Hi All,

Just wanted to get an idea of what a reasonable charge would be for a realtor to draw up a lease renewal.

My realtor is great in that they found the tenant I currently have and did all the work (background check, move-in inspection, collect deposit and first months rent and draw up the original lease). I of course compensated them for all this work and included $100 as a documentation fee.

Now my tenant wants to renew and I asked my agent to draw up another 1 yr lease agreement. In essence all they need to do is take the old lease, change the dates on the lease and get both parties to sign electronically. My agent said they won't charge me anything, but I did appreciate all their help throughout the leasing process as well as the time spent during my home purchasing process ... so what question is, what is the typical documentation charges for a realtor? Is the $100 reasonable as I provided previously, or is it something more or less in order?
There isn't a typical charge in my area, many listing contracts specify a "residual" fee if the tenant renews beyond one year, and nearly all leases default to month-to-month tenancy after the term expires, if neither party objects. If they've already told you they don't expect anything, perhaps a gift card for a nice dinner out?

No need to go too crazy, continued business is what the agent really wants.
Reply With Quote 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.


Reply
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 $104,000 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
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, 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, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top