Can any agent that gets paid to find tenants for lanlords give us an idea of how it works? What is your fee, how do you find tenants, how do you find customers (landlords)? What is the toughest and easiest part of the process?

Here in SoCal each side typically gets 3% each of annual lease amount. As far as finding tenants the listings are in the MLS. I advertise on craigslist and get a lot of inquiries from that.

Fellow KW agent

I work with a lot of investors that won't necessarily list the house for lease with me, but offer to pay me a leasing fee any time I bring them a tenant that leases. This type of arrangement is generally with an investor that manages their own rental units.

Any time that I have someone looking for something that I don't currently have available (either listed, personally owned, or in MLS), I go to the phones and start calling investors that may have a vacancy. It gets me a leasing comm, it keeps me in touch with my investors, and it keeps their investment properties full....Win/win deal for everyone.

Fees are always negotiable. You'll find that in some areas it is customary to base the fee on that total rent, other areas it may be based on 1 month's rent, or it could just be a flat fee. You'll want to talk with your broker about that.

our MLS in Northern Illinois doesnt even offer the residential rental category. We have commercial but not homes. That kind of burns me up because I pay alot for my dues and it doesnt seem so hard for them to set up that option

Our MLS has rentals and the typical finder fee is 1/2 of one month's rent for a year lease.
Jim

We do not have a rental section in our MLS system either which is MLXCHANGE. I have been trying to get rental listings to list on my website, just started this 2008 so I will see how this goes.
I would love to find some renters and get a few bucks fast cash LOL.

I have just found a someone who wants to lease a home that is for sale and for lease, How would you structure this? And how do both agents end up getting paid?

Thanks

Typically here people pay 1 month's rent for a year lease. For each agent of course - both landlord's and tenant's.
That's very common. Ads are on websites mainly. If someone wants both to lease and to sell, we make both ads.

A home can be offered for lease and/or for sale. Commission is usually negotiated by the seller/landlord and the listing agent.

Yes, I will find a tenant for a fee. But to earn my fee, I also find and screen the tenants, negotiate and write the lease, check references and make sure the house is turn key. I take 10% of the first year's rent and that is given to me up front and is non-refundable if the tenant moves out early. After my fee is collected, the property is managed by a separate property manager and I am out.

here in Thailand i am a Property Manager, Sales Agent and Rental Manager. I find rental tenants for 10% of the total booking. Seperate rental management fees apply if i am the property and/or rental manager.

Yes i find a tenants fee also and for only 10%.

In Texas, apartment locating is big business. We locate tenants for apartments full time. We have databases that list thousands of properties, their amenities, etc and the commission they are willing to pay for a successfully signed lease. The amounts are typically 50% to 100% of the first months rent. There are often gems though where Apartment will pay 200% commissions for a successful lease.

Long live Apartment Locating!

For residential units... I offer full service property management... but I will do one time rentals for 1/2 of one months rent with a min fee of $1000.

The realty co. (not a franchise) that I work out of also has a rental company. If I bring them a tenant, I'm supposed to get the first month's rent and last month's rent too (if they stay the whole year). I haven't done that intentionally, and probably wouldn't. I manage the rental properties I own and do not pay a fee if someone passes my phone number along to a prospective tenant.

Seems to me this is a subject that is very locale dependent, and even very individual MLS and office dependent.