Commission to an agent to find a renter
Down here in South Florida, if you hire an agent to find a renter, you get a yard sign, MLS listing, and someone to do the showings, and preparing lease agreement etc...in exchange for 1 month rent as fees.
If another agent brings the buyer, then the agents split the fee, each get half a month.
If you are doing your own marketing, and an agent brings a renter, I guess you pay the agent half a month's rent as commission? or no? How is this handled typically?
I don't necessarily mind paying a fee if an agent brings a renter...however what I don't like is the additional paper work issues. The agent, in order I guess to prove his/her usefulness to the renter, will cross or strike out some trivial lines in my lease agreement, and add in their own addendums and kind of mess up the lease a bit. I am using standard Florida FAR/BAR residential lease agreement it's pretty straight forward as it is.
Also, many times the fineprint of the agent's additional addendum has peculiar clauses. For example, one I signed last year said if they found me a renter I need to pay 1 month rent each year as long as the tenant stays on the property. So if the tenant stays 10 years I will pay every year...although the agent told me don't worry about it no one pays after 1 year, technically it's written that way.
Back to original question, do you as a landlord pay a commission to an agent who brings a renter?