Commissions on Apartment Rentals
Thanks to some lovely comments I have found several sources to finding apartments, in addition to what I already knew. The one question I still have is this:
How much commission is usually paid to someone who helps you find an apartment?
I found a place I really like, and these people say their “finders fee” is HALF of the first months rent.
That seems wrong because all the flats are different prices. Does anyone know the normal amount paid here?
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Hi, I’m currently working in a real estate co. and what they said was right, finder’s fee is half of the first month rent, so if the property’s rent is 700 monthly, then both the landlord and the tenant will pay half of the first month rent to the finder. If I were you, contact the landlord direcly withtout an aid of any real estate agent to avoid this kind of payment. In our company, those who contacted our office directly did not able to pay the commission because the properties are ours but if they were being recommended by an agent to us, then both of us and the tenant will have to pay half of the first month rent to the agent.
it is half the months rent
You are both right. I did some further checking and that is the going rate. That seems just plain wrong, but it’s not what I am used to is all. I guess technically it is a fixed amount, with a variable result, but what can ya do.
I am looking at some more places tonight. i took Rieanne’s suggestion and did the whole “ask direct” approach. Seems to work
Thanks both of ya!