What is the commission rate for Lease Agents for residential properties and when and how is it typically paid?

In Leasing Property - Asked by Kim B. - Feb 14, 2011
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Answer(s)

Kevin D.
Owner/Investor
Vacaville, CA

The commission rate is usually based upon the agreement one has with the owner are we talking residential or commercial ?
What duties would you like your agent to be responsible for ?
How many units are we speaking of and what condition are they in?
The list goes on but these are just a few things to consider when determining how much one should pay.
Should it be paid upon performance of duties, or percentage of rents collected.
If you are looking for a flat fee or percentage of collections the property will dictate the rate as well along with number of units.

Feb 15, 2011
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David D.
Broker/Agent
West Trenton, NJ

Typically for single family residential, the property owner should expect to pay a broker the amount equal to one month’s rent to place a new tenant. This assumes that the only service you expect is tenant procurement. Any property management services would be in addition to that. Of course the broker should be part of any renewals and/or eventual sale to the tenant. Dave D. Owner, Portfolio Manager, Professional Property Manager. Central NJ.

Feb 15, 2011
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