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Who pays the brokerage/commission in the US when you use some real estate service? In some countries it is the tenant, in others it is the owner of the apartment
What is the usual amount? My brother for instance had to pay 2.38 x the monthly rent (which is the standard formula where he lives), which amounted to quite a lot in his case.
What are some of the more trustworthy brokerage companies and do people in the US use them a lot in order to find apartments for rent? One of the global players (Remax) for instance hardly does any rentals in some countries while they do a lot of rentals in other countries.
What other channels are there, especially when looking for a place in a smaller city and when you still live far away without knowing anyone there?
Around my neck of the woods, rental property owners pay their listing company a negotiated amount/percentage to market and lease their rental property. That fee amount/percentage is not a standard fee and varies from brokerage to brokerage. There are some tenant placement companies, too, where the renter prospect will pay a fee to a brokerage to help them find a rental unit.
From the angle of your question, it seems that you may be from outside the US. Each state has their own real estate laws, so what applies in one state may not apply in another. Similarly, some real estate brokerages work only with sales transactions and other work only with rentals. There's no hard and fast rule about that.
Who pays the brokerage/commission in the US when you use some real estate service? In some countries it is the tenant, in others it is the owner of the apartment
What is the usual amount? My brother for instance had to pay 2.38 x the monthly rent (which is the standard formula where he lives), which amounted to quite a lot in his case.
What are some of the more trustworthy brokerage companies and do people in the US use them a lot in order to find apartments for rent? One of the global players (Remax) for instance hardly does any rentals in some countries while they do a lot of rentals in other countries.
What other channels are there, especially when looking for a place in a smaller city and when you still live far away without knowing anyone there?
The usual amount in 1 months rent. In manhatten sometimes it can be a little more. But over 2 times the monthly rent is crazy. Sounds like he got ripped off. Where I live anything goes, I would say its 50/50 on who pays. Sometimes its split too.
Where are you looking for an apartment. Brokers are more common in more urban areas where apartments are scarce.
Thanks. One rent seems OK. More than 2 rents is a lot, yes. My brother paid about $2800 in commission as apartments in Munich are pretty expensive to begin with
If I need an apartment, it will be in Virginia. Not sure yet, if and when that will be the case.
Do people in the US still use newspapers to publish their vacancies?
(Where I currently live, apartments for rent are usually published in supermarkets, they have dedicated black boards for that purpose. The problem with that is that one has to physically go there, which is not always possible.)
Thanks. One rent seems OK. More than 2 rents is a lot, yes. My brother paid about $2800 in commission as apartments in Munich are pretty expensive to begin with
If I need an apartment, it will be in Virginia. Not sure yet, if and when that will be the case.
Do people in the US still use newspapers to publish their vacancies?
(Where I currently live, apartments for rent are usually published in supermarkets, they have dedicated black boards for that purpose. The problem with that is that one has to physically go there, which is not always possible.)
We are a property management company and also have a brokerage but we mostly help tenants who call us to find a rental that we have listed ourself. Occasionally we will help with a rental else where but mostly we get paid $ 50.- or $ 100 for that and it can happen that you have to go to 6 or 8 rentals to show them on multiple days...That amount is not even covering the gas anymore.
Tenants don't pay us, the owners pay us for finding them a tenant and if it is a listing of another agent then we get the fee from the agents commission.
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