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Pros and cons of using an agent for rentals

 
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amother




OP
 

Post Sun, Jul 11 2021, 10:29 pm
What are good reasons to go through an agent when looking for a rental- or reasons to go directly through an owner?
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amother




Brickred
 

Post Sun, Jul 11 2021, 10:38 pm
Con they charge 1-2 months rent, this is in addition to security deposit and the first month's rent to the landlord. They have a very official process, lots of paperwork. I have never found it worth it. Owners are more personal and will look up references but won't drive you too crazy to produce all sorts of paperwork. Also agents sometimes convince owners to raise the price above the normal range.
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ra_mom




 
 
 
 

Post Sun, Jul 11 2021, 10:41 pm
I believe it is now against the law in NY for a rental agent to charge extra to the tenant. The owners pay the agent these days.
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amother




Ginger
 

Post Sun, Jul 11 2021, 10:47 pm
I never use an agent. So not worth it.. they usually charge a month and a half (or just one, or two) for a fee and you are the one who pays it. What bothers me is there have been so many houses that I’ve looked at where the owners are using an agent to rent out, but the tenant pays the agent. I don’t need to spend 7k on an agent who didn’t even do anything for me. And usually they don’t do that much to begin with. Especially in this day in age, it’s so easy to go out and find something on your own without needing an agent
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out-of-towner




 
 
 
 

Post Sun, Jul 11 2021, 10:54 pm
ra_mom wrote:
I believe it is now against the law in NY for a rental agent to charge extra to the tenant. The owners pay the agent these days.


I had to arrange for payment of a brokers fee for my client (from the renter to the broker) within the last month. Apartment building in one of the five boroughs.
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amother




Ginger
 

Post Sun, Jul 11 2021, 10:59 pm
ra_mom wrote:
I believe it is now against the law in NY for a rental agent to charge extra to the tenant. The owners pay the agent these days.


This was a very brief law from 2019 that was only in effect for about 4 days before the courts halted it. It was reversed officially in 2020. Most owners who hire agents to list their houses still require the tenant to pay the fees
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