Referral fee

[smaridge01]

Johan1983, I think this guy is really working hard to work you over. It sounds like, at this point, if you haven't already started to research actual Florida rental laws, you might want to. You might find some helpful information at the link below. Or at least maybe some links to more pertinent information.

Florida HUD page about landlord-tenant laws

I agree with the others, this guy is trying to inflate the bill to get more commission, and you need to stomp on him like a roach.

Good luck with it all!

[Mike1306]

Now while I mentioned that the 20% sounds a bit high you need to keep in mind that with a normal rental in St.Pete I think on average you will pay 1 months rent to the agent which works out to 8.33%

With short term leases, 1 month would work out to 33% if you were doing 3 month leases which would be way too high but being the agent does have to get it leased out 4 times in a one year period if you are doing 3 month terms they do have a bit of extra work over the 1 year lease and is why short term leases you will usually pay a little higher but not usually 20%.

[Johan1983]

I sent him a angry mail and he agreed not to count the electric in the 20%.

Do anyone else here have simular experiences?

[FlaLadyB]

the referral fee is supposed to be paid out of your Realtors commission that his company receives not over and above what you agreed to pay.

If he is a Property Manager then he would be getting his property management fee which is different from his commission on a rental.

Normal commission in my area for me would be 1 months rent or 10% of the yearly rental. You are doing only a short term which is just as much work as a long term one.

Whatever you signed in writing is what stands.

[Johan1983]

Originally Posted by FlaLadyB

the referral fee is supposed to be paid out of your Realtors commission that his company receives not over and above what you agreed to pay.

If he is a Property Manager then he would be getting his property management fee which is different from his commission on a rental.

Normal commission in my area for me would be 1 months rent or 10% of the yearly rental. You are doing only a short term which is just as much work as a long term one.

Whatever you signed in writing is what stands.

My guy wants 10% and a one month rent on a one year lease or even a 6 month lease.

[FlaLadyB]

I've never seen anyone here charge both a 10% of the yearly rental.. and.. one month. Its usually either or. Is this person also managing the property or is it just a one time finding you a tenant fee?

[craigm1841]

that is insane. You can drop this guy. I dropped a property manager before. My house in GA is in a military friendly neighborhood, and it was on the market for 4 months. I had two neighbors rent their houses, one in 2 weeks, one in 3 days. I dropped my property manager, went with the one they were using, they had my house rented in a week and a half.

You can rip up what you signed- until there is someone living in your house, then you are stuck with your property manager for the duration of the lease.

Really, you should drop this guy. MAYBE.... you should Direct Message FlaLadyB... I'm just saying.