 Agent or Section 8 (by sam caceres [TX]) Apr 24, 2017 8:32 PM
 Agent or Section 8 (by Steve [MA]) Apr 25, 2017 3:31 AM
Agent or Section 8 (by RR78 [VA]) Apr 25, 2017 7:47 AM
Agent or Section 8 (by Lynda [TX]) Apr 25, 2017 8:33 AM
Agent or Section 8 (by sam caceres [TX]) Apr 25, 2017 8:49 AM
Agent or Section 8 (by Vee [OH]) Apr 26, 2017 5:00 AM
Agent or Section 8 (by Sam [TX]) Apr 26, 2017 7:02 AM
Agent or Section 8 (by sam caceres [TX]) Posted on: Apr 24, 2017 8:32 PM
Message:
I listed a rental property with section 8 for about 3 weeks and got very little interest so I decided to hire a real estate agent to find me a tenant. I signed an agreement to allow the agent to find me a tenant and decided to list it for x amount of dollars based on what the agent feels is fair market value. She will receive a fee for listing the property and has several prospective tenants interested. I will show the property and manage the property is how we set up the agreement I now have a prospective section 8 tenant and her voucher will pay 75 more a month than what my agent feels is fair market value. Obviously I would like to receive as much rent as possible, but I also need to treat the agent fairly for time and effort. Any advise on how to handle this situation. Thanks --64.201.xxx.xx |
Agent or Section 8 (by Steve [MA]) Posted on: Apr 25, 2017 3:31 AM
Message:
What type of agreement do you have with the agent, written exclusive or other?
Did you reserve the right to rent the unit to your own applicant?
You wrote "prospective section 8 tenant and her voucher will pay 75 more a month". Have they completed a rental application, passed your screening process, completed their S8 paperwork and have the unit & rent amount been approved by the PHA? Until this id done you may have a tenant.
Has the agent spent time & money, advertising the unit, qualifying renters & showing it to them?
What does your written agreement say about the agent receiving compensation?
IMO you just need to follow the contract you signed. If it says that you retain the right to rent the unit yourself & the agent did not find this applicant then they are not owed a fee. However if the contract gives them the exclusive right to find a tenant then they are owed their fee. --72.93.xxx.x |
Agent or Section 8 (by RR78 [VA]) Posted on: Apr 25, 2017 7:47 AM
Message:
Should expect to pay the agent her fee. But see if she will negotiate. --24.131.x.xxx |
Agent or Section 8 (by Lynda [TX]) Posted on: Apr 25, 2017 8:33 AM
Message:
Well,if it was me,I'd wait to see if the agent brings in a NON S8 tenant. It will take you a month of coordination with S8 to do the paperwork, get the inspection, make the changes he requires, etc. Let the agent continue to search. If she finds someone, you will have 2 potential tenants to choose from.
You will find the histories of the 2 prospects are quite dif. Try to get a tenant that WORKS at a JOB. Dif mentality than someone who takes handouts (lives on someone else's work).
Just pay the agent what the contract says. Most agents DON'T know a lot about finding tenants, and don't put a lot of effort into it because it pays very little for their time.
You will never know how it is to control your own business when you have a more powerful partner forcing you to follow THEIR rules, deciding what in your properties is/is NOT acceptable, require you to pay for upgrades in order to GET their client, how much you will be paid, if and when you'll get it, etc. If you haven't experienced this yet--just means it is in your future. --108.87.xx.xxx |
Agent or Section 8 (by sam caceres [TX]) Posted on: Apr 25, 2017 8:49 AM
Message:
Thanks for your time and comments --75.87.xxx.xxx |
Agent or Section 8 (by Vee [OH]) Posted on: Apr 26, 2017 5:00 AM
Message:
Sam, you have posted about this scenario with sec8 before, I am going to suggest printing out your local and state tenant laws and understanding them before you go any farther because this road you are on has a lot of bumps, the sun is setting and you still are not sure where the destination is at, having a house seller find someone to occupy your house is drawing from the lowest pool of home buyers, they are unable to buy but have an idea they want to move so the agent shows them your place and instantly they love it (anywhere is better than what they have now), be sure -YOU- screen these people or you will be stuck with pleasures of destruction, lost time and money while the realtor is out doing what they are trained to do - sell houses, have you considered selling?? --76.188.xxx.xx |
Agent or Section 8 (by Sam [TX]) Posted on: Apr 26, 2017 7:02 AM
Message:
Actually Vee from Ohio if you go back and read my previous post more carefully you will see that this is a different situation. Thanks anyway for taking time to respond to my question. --66.87.xxx.xxx |
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