Rental Basics in Tucson>Question Details

Samstar, Renter in Tucson, AZ

Does the renter or the owner pay the broker's fee?

Asked by Samstar, Tucson, AZ Mon May 17, 2010

I am looking at renting in Tucson, Az and have been told by the management company that I contacted about a place to rent that we are to pay a broker's fee---is this normal??

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Answers

5
Bott Timothy’s answer
This is not normal!!! I work with a lot of Management companies and I have never heard of the buyer paying the broker's fee. Can you pay the broker's fee? Yes. Anything is possible as long as it is mutually agreed upon. If you really want this rental then I would ask for the management agreement between the broker and the Landlord to see if it stipulates in that agreement that the buyer is to pay the broker's fee. How did you find the rental did they disclose to you that the broker's fee is to be paid for by the renter?

A rental agreement is also negotiable, just like if you were buying a home. In my opinion the rental market is being hit by the economy so making a offer to rent is not out of the question. An offer to rent might be something like saying that you will pay rent but not the broker's fee. See what the landlord says it is worth a shot. The worst they could say is no and you are right back where you started - paying the broker's fee.

My true advice is try buying a home instead of rent - if you can. The price of homes are low and interest rates are low. Matter of fact one of my lenders today said that the 10 yr fixed rate is 3.875%. But you know your circumstances best.

I would love to answer any more questions that you might have or provide my services.

Timothy Bott
520-891-0975
0 votes Thank Flag Link Mon May 17, 2010
Whether it's normal or not--depends--in some areas tenants pay commission--however, do double check and ask questions to your satisfaction.
0 votes Thank Flag Link Mon May 17, 2010
As the others say, usually it's the owner who pays. And while it's all negotiable, it's often equal to about one month's rent.

You often would be expected to pay a fee for a credit check and a background check. That'd probably run $50-$100. But generally you wouldn't pay the broker's fee. Be sure to get clarification and an explanation before proceeding.

Hope that helps.
0 votes Thank Flag Link Mon May 17, 2010
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
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Usually the owner would pay. However, many management companies will also have other fees or charges. How much is this fee? Did you look at other homes for rent on the MLS or by the owner w/o a management company?
0 votes Thank Flag Link Mon May 17, 2010
Usually it's the property owner that pays the brokers fee. I'd look into this further before agreeing to pay anything.
0 votes Thank Flag Link Mon May 17, 2010
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