Agent commissions vary on rentals

Rate negotiable, but can be as high as 10%
Published on Aug 10, 2009

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by CareyBot

DEAR BENNY: How do agents get commission on rental property? --Peter

DEAR PETER: To my knowledge, there is no standard formula to compensate a real estate agent for finding a tenant for you. From my experience, most agents will want a one month's rent for their commission.

However, this is negotiable. If, for example, you want the agent to manage the property for you (which is usually a good idea so that you won't be bothered every time the tenant wants a light bulb changed), the agent may take a percentage of the monthly rent -- ranging between 6-10 percent.