Agent charged me a lot to rent out my property

[Alex Moazeni]

Hey.

Just got my single family house rent out and my agent charged me the full amount of first month rent?

Do you guys think it is what it spouse to be?

Last year she charged me 40% and she is saying she did just the teant portion and not me on last year.

But the norm way Is the landlord should pay lease and teant agent!!!

What is your thoughts??

[Bruce Lynn]

That is normal in Dallas area.....1month rent and your agent will split some portion of that with the agent that brings the tenant.   Most tenant reps want 1/2.  Not all agents offer that, but it is what they expect.  Rightly or Wrongly if you offer less than that, there will be some agents who won't show the house.  Vacancy costs you money, so you might even want to offer more or a bonus to tenant reps to help your place rent faster.

Most of the time for agents to be helping tenants it is really a labor of love and hope of future business.  You think if your rent is $1500 and tenant rep gets 1/2 that, then they're at $750...split that with the broker and they're down to $375....paying for gas, car expense, key fees, dues, insurance, training, and chances are they're not making money doing that.  We do it, because we hope they're a buyer next year, or they have friends, family, co-workers that will be buyers or sellers.

I know it seems like a lot, but what I see is that this often gets you a better tenant.  Now treat them well so they stay a long time.  Put in place a tenant retention program.  Turnover is the worst enemy of owners in my opinion.