Have a great day,
Heather Paul, Realtor
The costs for Property Management Services vary, depending upon what is required by the Lessor . When I was looking into Property Management in Long Beach area, I was quoted from 5-9% by the Management Companies there.
Best thing is to contact a few and compare rates.
The commission is negotiable but 6% will probably be what most of the agents will want to charge you.
Because 6% of a rental term is not a large sum, I have found that not everyone that deals with rentals will be placing the rental listing on the MLS. They will try and market the property as a 'pocket' listing so they do not have to split the commission.
I think that is doing the landlord a major disservice because it may take the property longer to rent since they will be missing a large pool of attractive tenants that may be clients of agents from other offices and those clients that are surfing the web (once the property is placed on the MLS, REALTOR.com, Trulia, & other sites will pick it up and give the landlord fantastic exposure).
Best of luck & have a great day!
Commission ranges vary and may depend on the value of the transaction (also called total consideration). In addition, commissions are negotiable between the landlord and agents. This can be based on a percentage or a fixed amount for obtaining a willing and able tenant. For example, 6% of the lease amount * the number of years for the lease or a fix $1500, 2000, 2,500 split between brokers. It's totally negotiable.
Ikem Chukumerije represents Buyers, Sellers, & Landlords in all luxury real estate communities including Beverly Hills, Malibu, Los Angeles, Bel Air, San Monica, Westwood, Brentwood, Venice, hollywood Hills, West Hollywood, Pacific Palisades, Venice, Marina Del Rey, and Manhattan Beach. Contact Ikem at 323-350-8297 about buying or selling real estate in these areas.
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