Is it legal for a real estate agent to charge a finders fee in Michigan for finding a tenants for a landlord?

Asked by Teesha313, 48101 Tue Nov 15, 2011

I am a landlord in Michigan. An agent wants to charge me 1/2 the first month's rent for finding tenants for my rental. I want to know is this legal to do in the state of Michigan. I been renting since 2006 and have never had an agent approach me about a finder's fee.

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Pam Bava, Agent, Rochester, MI
Sat Nov 19, 2011

I agree with what is said below and especially that you get something in writing as Chad said. The great thing is you will get more exposure for your property.

Good luck
0 votes
Chad Brown, Agent, Traverse City, MI
Fri Nov 18, 2011
The previous answers are all accurate. It's important to know, though, that any agreement for compensation should be done in writing. In this case, you'd sign a listing agreement with that Broker establishing what services they'll provide and, in exchange, what fee you'll pay and under what conditions. In the absence of a compensation agreement of some sort, you're under no obligation to pay an agent for bringing a tenant unless of course it makes financial sense for you to agree to do so.
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Tue Nov 15, 2011
Legal? Yes. There are rules but it is legal. You can say NO or you can agree to a flat fee or a smaller commission, it's all negotiable.
0 votes
Karen Paytas, Agent, Clinton Twp, MI
Tue Nov 15, 2011

Good Morning!!

As long as the agent is working through their Broker they can charge a fee or commission. The amount of the fee is between you and the agent. Our company lists properties for lease regularly and charge a commission for doing so.

Good Luck,

Karen Paytas, GRI, CMS
Real Living Kee Realty
0 votes
Abu Musa, Agent, New York, NY
Tue Nov 15, 2011
In New York agents get paid by the tenant,But landlord pay when they listed for rent that case tenant does not need to pay.
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