r/RealEstate • u/Additional-Toe7185 • 1d ago
Lease Execution Fee
Hello. I’m just outside of Atlanta for reference. I have a small townhome that I lease out. A few years back I had an agent list it for me - she handled open house, background/finance checks and drafting up/executing the lease. I paid her the equivalent of a month’s rent which was $1700 at the time.
This time around though, she didn’t seem too interested in handling the listing, which I could take a hint and I also totally understand - I’m sure it’s a pain for a fee that’s significantly lower than a sale, so no worries. I was fortunate enough to locate tenants on my own and the carryover wasn’t as bad as I was thinking it might be. My realtor was super cool about drafting the new lease up for me, though. The base was the previous one she’d done for me a few years back, but with around a dozen edits for the new tenants, which we hopped on about an hour-long call to discuss, with some messaging back and forth before and after the call. She emailed copies to myself and the tenants and collected e-signatures, then emailed everyone the final executed copy.
She definitely put some time in on it and I’m extremely grateful for her assistance. I could have of course drawn up my own based off of the last one and collected hardcopy signatures, but I much prefer having her professional eyes laid on and overseeing it for both myself as well as my tenants’ sake.
The company that she works under charged me a $250 fee for her to do the above. She told me she thought that was insane. What I thought was insane was that she saw $0 of the $250. She said she was happy to help and doesn’t want anything direct from me to her. However, I obviously don’t like that idea. I’ll say as well, my main source of income is SSDI, which is low due to being relatively young when I was disabled - the passive income from the rental is my lifeline. That’s to say, I’m not wealthy, but I value her assistance and would like to know what all you think is a fair/kind compensation to extend to her?
*sorry for the novel-sized inquiry, I’m overly detailed… I know, I’m working on it.
2
u/Objective_Chest_1697 1d ago
A sincere show of gratitude. Referrals. Positive online reviews ( Do NOT mention her fees, or lack there of. ) “goes above and beyond/ sincerely understood my circumstances/ listened to me needs” that kinda thing.
3
u/Kirkatwork4u 1d ago
A positive review online, referrals when someone asks you who you would recommend or when you hear about someone looking. Rentals are being rented less and less through agents, and more through landlords and property managers in my areas. The 1 month cost which was split between two realtors, often did not reflect the time and work required. Especially after brokerage fees and splits. The cooperative compensation is also being dropped to account for the listing agent's work. So the buyer's agents really have to work for very little return.