Did landlord paying commision from security deporit or first month rent
23212 answer(s)
About 2 weeks ago
The contract agreement made with the landlord outlines this information. Typically, commissions paid to real estate agents or brokers are negotiated separately from the lease agreement between the landlord and tenant. The commission is usually paid by the landlord as a separate expense, often as a percentage of the total rent or sale price of the property. Using funds from the security deposit or rent payments to pay commissions could potentially raise legal issues.
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DislikeAbout 3 weeks ago
They both spend the same. People often get confused when it doesn't really matter how you think about it.
About 4 weeks ago
Landlords pay realtor agent's commissions from the first month's rent.
About 1 month ago
Neither unless you have a signed listing agreement that states which he wants to use the 1st month rent as payment of the commission. The security deposit can only be used as such. There is a detailed list in the lease contract detailing what may possibly be subtracted from the deposit.
About 1 month ago
Kateryna, great question! It actually doesn't have to come from either and you'd want to refer to your listing agreement to determine what was agreed upon. Now, typically, IF the landlord has agreed to a specific compensation, it would be paid to the listing broker (and then split if applicable) via the 1st month payment of rent. If you'd like more specifics, please feel free to reach out, we do LOTS of work with investor landlords. codysellsproperty@gmail.com 346-412-6603
About 1 month ago
The broker commission is paid from the landlord's first month's rent. The rent deposit is held in a separate account by the landlord.
source:
Experience
Experience
About 1 month ago
Very importanted to insure the the monies that go to the landlord is referenced Security Deposit and monies that goes to Brokerage is referenced as FIrst Months Rent. It must have been 15 years ago, a tenant came to the back to a brokerage for the deposit as the CC for the brokerage was stated Deposit. It states in lease contract who the first months rent will be paid to.
source:
Experience and TREC Lease Contract.
Experience and TREC Lease Contract.
About 1 month ago
It is paid from the first month of rent. The security deposit is held in a separate account until the lease is over and it can vary from the actual rent amount
#1 Awarded – Best AnswerAbout 1 month ago
Hi,I hope to clarify this for you. Landlord is to pay commission from 1st months rent because security deposit is to be put into a separate account and doesnt belong to the landlord at the present time. However, rent payments belong to the landlord and commission is to be paid from there.
About 1 month ago
1st mo rent. Security deposit held by Landlord. (The security deposit can also be a different amount from the rent. What does the lease say? Im assumingin this situationbt your comment both amounts are the same?)
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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