Rentals in Scarsdale>Question Details

Kc, Renter in New York, NY

In westchester county, who pays the rental broker fee (landlord, tenant, or split?)? How much is generally the rental broker fee? Thanks!

Asked by Kc, New York, NY Sun Feb 19, 2012

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Typically in Westchester County the rentor pays the fee approximate 10% of the annual rent. This may not always be the case. You have not specified if you are looking to rent a single family house, or apartment in a rental building there are many variables. Can u be more specific?
Web Reference: http://Platinumdr.com
1 vote Thank Flag Link Sun Feb 19, 2012
Listings on multiple listing offer commission to your tenant broker. If they are not sufficient to cover your broker's fee, you may be paying the difference. Fees vary. Usually you can assume the landlord will pay the fee in the case of multiple listing rentals.
0 votes Thank Flag Link Mon Feb 20, 2012
If you are looking for a rental, you should expect to have to pay a 1 month rental fee.

Debby Frank
Keller Williams Realty
(914) 498-543
0 votes Thank Flag Link Mon Feb 20, 2012
Generally the tenant pays, however do have a discussion with your agent. When two agents are involved in the transaction the commission is shared; there are no set standards on broker fees, as commissions are always negotiable.
0 votes Thank Flag Link Mon Feb 20, 2012
Hi Kc,

My policy when working for tenants is to get the commission from the landlord.

Sally Griffiths, GRI, Green
914-419-2655
sally@sallykgriffiths.com
0 votes Thank Flag Link Mon Feb 20, 2012
Hi: There are many different options & it depends on which one you are & who you want to motivate to act. Choice #1: Are you the landlord? Anxious to find a tenant? Want to motivate the brokerage community to help you? Longer lease term better? Then you should pay the broker's commission & list your property on the MLS in addition to the other methods you're using to try & find a tenant. In addition, rather than offering 1 month's rent as commission (split between the listing agent & the tenant's agent), you should offer 8.3% (the equivalent of 1 month's rent), split 4.15% to each agent. This will motivate the agents to push the lease term. Choice #2: Are you the tenant? If you are motivated to find an apartment (i.e. need one right away), you may want to hire an agent to work for you & agree to pay him a fee to find you a place. Not motivated? Then you can probably find one where the landlord will pay the fee. For commercial rentals, the commissions are usually different & fluctuate as a percentage per year durign the lease term & the tenants pay less frequently. You can see more information on our website: http://www.GrandLuxRealty.com. Or call me with any questions: 914-273-9688. Sincerely, Michael F. Levy, Principal Broker, Grand Lux Realty. BTW, we're looking for more agents & offer a 70% commission split. If you know anybody who might be interested, I'll pay you up to $1,000 each for your agent recruits.
0 votes Thank Flag Link Mon Feb 20, 2012
If you like you can work with a agent and determine the outcome. There are other options
Web Reference: http://www.realliving.com
0 votes Thank Flag Link Mon Feb 20, 2012
Hi, it depends on the policy of the office you ae working with. Anything that is listed in the MLS requires some form of compensation as per the rules that govern. Agents can share anything from $1 to half month or whatever they want. I get my fee which is one months rent, from the tenant. There are many landlords that don't want to compensate a tenants broker if they are getting any form of compensation from the tenant. I

Chris
0 votes Thank Flag Link Sun Feb 19, 2012
Every area varies a little, but generally speaking, residential tenants generally pay one month fee.
0 votes Thank Flag Link Sun Feb 19, 2012
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