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Old 10-12-2012, 09:59 PM
 
19,867 posts, read 21,252,331 times
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I originally agreed with my listing agent to pay her one month of rent for every year leased. She said that it was customary to do so, is it really? A national company wants to rent my space for 3 years and apparently they have a broker who finds them space. I received "their" lease agreement rather than my own, is this normal? In addition, it says that I have to pay their broker fee which is in the several thousands (my rent is only $1000 a month). Is this right? Or am I suppose to negotiate something else. Completely new to this renting business...
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Old 10-13-2012, 07:22 AM
 
Location: The Triad (NC)
31,181 posts, read 68,285,326 times
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Quote:
Originally Posted by evilnewbie View Post
Or am I suppose to negotiate something else.
Completely new to this renting business...
1) **everything** is negotiable.
2) Focus on selling the house.
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Old 10-13-2012, 01:26 PM
 
Location: St Thomas, US Virgin Islands
24,671 posts, read 62,278,838 times
Reputation: 26588
Quote:
Originally Posted by evilnewbie View Post
I originally agreed with my listing agent to pay her one month of rent for every year leased. She said that it was customary to do so, is it really? A national company wants to rent my space for 3 years and apparently they have a broker who finds them space. I received "their" lease agreement rather than my own, is this normal? In addition, it says that I have to pay their broker fee which is in the several thousands (my rent is only $1000 a month). Is this right? Or am I suppose to negotiate something else. Completely new to this renting business...
I don't know what the "norm" is where your first question is concerned but the scenario with the "national company" sounds very sketchy. I'd be very leery about agreeing to someone else's lease agreement and I'd also be most hesitant to pay their broker fees amounting to several thousand dollars. Whatever commercial space you have, I suggest you do a lot more homework and talk to other listing agents in your area to find out what normal practice is. And, when you have a better idea of how these rentals work, put it into the hands of a property management company which deals with commercial leases and save yourself a lot of potential headaches. Good luck.
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