How to handle realtors bring prospective tenants (commission/fee)

[Mike Wood]

I have been a DIY landlord for 7 yrs now, and recently I have put up a unit for rent and had an real estate agent working on behalf of a prospective tenant.  This is the first time this has happened, but thanks to the power of the internet, I am betting this is bound to start happening more and more.  My units are listed with Postlets (which syndicates to lots of sites) and Craigslist.

How should I handle compensating the agent if there client is the best qualified tenant.  I am not against compensating them, just not sure how to handle it or how much to pay.

I do know the costs of using an agent to list, qualify, show and get to a rental agreement (i.e. the agent handles the rental listing), but this is different.  This would be basically a finders fee.  I do offer my other tenants a $250 finders fee if they bring me a tenant (which I have yet have any current tenants bring me a new tenant).