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Old 03-05-2017, 06:10 AM
 
Location: Doral
874 posts, read 895,635 times
Reputation: 542

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Quote:
Originally Posted by NomadicMe View Post
Who pays the required broker? Is there a fee?
The broker is paid commission by the landlord. Most agents also charge the tenant a small processing fee - usually less than $100.
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Old 03-05-2017, 06:22 AM
 
Location: Doral
874 posts, read 895,635 times
Reputation: 542
Quote:
Originally Posted by NomadicMe View Post
Who pays the required broker? Is there a fee?
The broker is paid commission by the landlord. Most agents also charge the tenant a small processing fee - usually less than $100.
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Old 03-05-2017, 07:59 AM
 
416 posts, read 251,986 times
Reputation: 122
Quote:
Originally Posted by ruski View Post
Renting is often a more elaborate process than buying.

I have sworn off working with rentals anymore.
I never bought a property fully in cash, so I cannot relate to that one scenario, but all properties I bought on credit have been severe pains in the a$$.

Especially condos.

1-2 month closing. And part of the approval process is not the shape of your unit or your credit but the building itself which often feels out of your control.

I remember being delayed because Chase discovered a wrongful death lawsuit filed by the family of a worker dying in a elevator shaft - thing is the lawsuit was filed over 10 years ago and went nowhere, but still their legal team needed 1-2 weeks to "asses the consequences."

I guess in protecting themselves, they're protecting you, but still a pain in the a$$.

Renting, on the other hand, is too easy. And I mean too easy. I try my best as a landlord to screen my tenants, but I cannot say the same for other landlords, and the associations often don't seem to want to do their job.

I cannot stress enough how much crime would be prevented in the buildings by simply screening the tenants. At one of my units, we had incidences of a tenant stealing packages. We caught him on the CCTV system, and he was eventually deported because he was not a legal resident.

Thing is, very basic screening would have caught it, but neither the landlord or the association did their job. And this unit is not in a low-income area, it's one of the older buildings in SoFi but it's direct ocean access and my 1-bedroom there rents for 2,400 a month. Should be a no brainer to keep that place fairly crime free.

So rant done, I WISH renting was more of a pain, for the prospective tenant. It's anything but here in Miami Beach at least.
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