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Updated almost 8 years ago,
Fees for successful tenant referrals: What do you do?
Do any of you pay others (current tenants, friends, family, realtors) a fee for a successful tenant referral? We're talking about renters/tenants only, no sales, wholesaling, etc.
By successful, I mean that the tenant passes my application process, signs a 12 month lease, pays the security deposit and moves in. I'm considering also stipulating that the tenant stays in place for at least 3 months before the referral fee is disbursed.
From reading other BP forum posts, I see that it's considered illegal in some states, but what about classifying the referral as a thank you gift and keeping it non-monetary, like a gift card?
Very curious what you seasoned veterans do. Thank you in advance for your feedback on this!