Many rental agents are worried about Owner Pays listings, because the owners are not paying, or paying so late that they wreck a person's income flow. If a rental firm rents an apartment for a landlord, and if the landlord pays it sometime in the next 3 or 6 months, the firm will survive, but the agent who did all the work will starve to death by the time he or she receives a share of the fee!Now rental agents are beginning to agitate for a rental industry Sit-Down. They want the same standard that applies to Sales to apply to Rentals - everything to be settled at the Lease Signing.
I don't know about you, but to me this is a no-brainer. Settle it when everyone is at the table, and the money is changing hands. If the owner is worried that the weak new tenant won't last a few months because they are so underfunded, they should not be renting to them. And why can't the landlord build into the lease a clause that re-imburses him/her for the rental Commission if the tenant leaves early? There could be a formula: divide the rental fee by the number of months in the lease period, and the landlord gets to keep an amortized portion of the security deposit if the tenant leaves early. That's fair to the landlord, the tenant, and the rental agent.
What do you think?
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