Rental Basics in 10538>Question Details

DMBONDO, Real Estate Pro in Larchmont, NY

WHO PAYS THE COMMISSION TO THE RENTER'S & OWNER'S BROKER WHEN RENTING? WHAT'S THE % OF COMMISSION?

Asked by DMBONDO, Larchmont, NY Thu Jun 21, 2012

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If a rental listing is in the MLS, then the listing broker is required to pay a commission to a cooperating broker. That doen't mean that all transactions work this way. If an agent isn't being paid by the owner or landlord the commission can be anything from a half months rent to 15% of the yearly rent. In NYC more often then not the tenant is paying the fee and this is frequently 15% of the yearly rent. All commissions are negotiable.
Don Mituzas
http://www.nyhomeseller.com
1 vote Thank Flag Link Fri Sep 14, 2012
Hi, All transactions are different. If I am the listing agent the landlord pays my commission. If Im working with a tenant I get my fee from the tenant and don't take anything extra from the landlord. All real estate offices set their own policy.

Chris
0 votes Thank Flag Link Thu Jun 21, 2012
It depends, therefore do ask your agent the question beforehand....
0 votes Thank Flag Link Thu Jun 21, 2012
The landlord in most cases. Each rental listing could have a different commission. Sometimes it is a %of lease amount, other times it could be a flat dollar amount.
0 votes Thank Flag Link Thu Jun 21, 2012
Hi,

The landlord usually pays a commission of one months rent on a years lease. Second year can be 1/2 month compensation or zero, depending on what you and your agent agree to. On another note, there is no commission paid to the tenants agent if they are being compensated by the tenant.
0 votes Thank Flag Link Thu Jun 21, 2012
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