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May 22, 2007
Splitting rental agency fee with tenants
Seems like the season with the number of rental posts. I have had an apartment on the market for rent for two months with a re agency. I am considering lowering the rent price or working on splitting the agency fee. Have any landlords out there paid for part of the fee?
Comments
lower the rent
if it's not renting in *this* market, you are asking too much
Posted by: Anonymous at May 22, 2007 4:38 PM
Personally i would opt for splitting the broker's fee. People don't usually move out after a year so i think it works out in your favor in the long run. Also if the place isn't renting make sure the broker is really working the listing, some are less diligent than others.
Posted by: AnnaBee at May 22, 2007 4:59 PM
As I posted in an earlier thread, if you have the time, go the Craigslist route with a no fee by owner listing. Drop the price a tiny bit. You'll get a feel pretty quickly for the market from the email responses you get to the ad. If you don't get a bunch of responses within a day ro so, drop the price.
Posted by: Anonymous at May 22, 2007 4:59 PM
I second the craigslist idea. I posted my apts on craigs and let a few brokers list it as well. None of the brokers ever called to show it, but I got several calls immediately from craigs and rented it quickly. I love you, Craig!
Posted by: Anonymous at May 22, 2007 5:56 PM
I agree with 4:38, and what's more, the market agrees too. If you are not getting a tenant in what is one of the three hottest rental markets in the last twenty years, your rent has to be too high. Do yourself a favor and go out and look at some other rentals, both in your asking price range, and that are comparable to what you have to rent out. A rental, even one, is a small business. If you're rental is vacant for even one month, there goes your rent increase and/or profit margin for some considerable period of time. Never, ever, ever, allow a rental to empty.
Posted by: anon at May 22, 2007 6:23 PM
lower the price, don't pay any fee!
it's crazy to leave an apartment vacant even for one month.
Posted by: Anonymous at May 22, 2007 11:17 PM
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