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Thread: Condo Apartment Rental Fees

  1. #1
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    Default Condo Apartment Rental Fees

    What fees, if any, is one assessed when renting a condo or apartment off of a Zillow, Zilbert, other website, or reference that involves an agent?

    Does the renter pay the listing agent a fee?...if so, how much (equivalent of one month's rent, percentage of the monthly rent???)....if the renter uses an agent on his end ("renting" end), does he pay his agent as well?...is it even necessary to use an agent on the renter's end?.....I trust if you can find a reputable and acceptable unit on airbnb then no such fee is required??...I have read that getting back security deposits is difficult, to the point where many should expect not to receive it back--if so, any caveats in advance?

    Thanks

  2. #2
    Senior Member Marc Middleton's Avatar
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    Default Re: Condo/Apartment Rental Fees ??

    Quote Originally Posted by elchevere View Post
    What fees, if any, is one assessed when renting a condo or apartment off of a Zillow, Zilbert, other website, or reference that involves an agent?

    Does the renter pay the listing agent a fee?...if so, how much (equivalent of one month's rent, percentage of the monthly rent???)....if the renter uses an agent on his end ("renting" end), does he pay his agent as well?...is it even necessary to use an agent on the renter's end?.....I trust if you can find a reputable and acceptable unit on airbnb then no such fee is required??...I have read that getting back security deposits is difficult, to the point where many should expect not to receive it back--if so, any caveats in advance?

    Thanks
    There is no fee to use a Realtor when buying or renting in Florida. Unlike New York where you pay the broker procurement fee, usually 10% of the lease. In South Florida, the owner pays this.

    Unless you are renting some basic studio/1 bedroom, you will need to go through an Agent. There is no way to rent a luxury apartment/condo directly from an owner.

    Zillow is just a public site that has listings and values, sort of like a reference site. Zilbert is a real estate firm, like Keller Williams, Century 21, etc. Just a name that people recognize, but it makes no difference (usually) where an agent works. We are all our own boss and all have access to the same MLS.

    AirBnb would be for short term only, not long term. Plus, AirBnB charges a service fee so for anything over 3-4 months, it would be a waste of money.

    With regards to getting your security deposit back, I wrote a very helpful article on the do's and don'ts about that very topic:

    http://www.marcsellsmiami.com/info/b...-deposit-back/

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    Default Re: Condo/Apartment Rental Fees ??

    Cool...thanks for the info.

    Renting--not buying--but renting wise...any thoughts on North Beach, in general, and Akoya, in particular.

  4. #4
    Senior Member FredTheCatTravels's Avatar
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    Default Re: Condo/Apartment Rental Fees ??

    I would just use Marc. Even though we didn't end up moving to Miami, he gave me a lot of valuable information.

    You don't pay anything for his expertise.

    There are a lot of minefields in the Miami rental market.
    Jess and Marc Middleton like this.

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    Default Re: Condo/Apartment Rental Fees ??

    Sounds good

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    Default Re: Condo Apartment Rental Fees

    Yes, I also use Marc as my realtor. He is the best. Honest and trustworthy, and hard working to get the viewings.
    Marc Middleton likes this.

  7. #7
    Senior Member Marc Middleton's Avatar
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    Default Re: Condo Apartment Rental Fees

    Thanks Fam :-)

  8. #8
    Senior Member Marc Middleton's Avatar
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    Default Re: Condo/Apartment Rental Fees ??

    Quote Originally Posted by elchevere View Post
    Cool...thanks for the info.

    Renting--not buying--but renting wise...any thoughts on North Beach, in general, and Akoya, in particular.
    North Beach is fine, no problems with it in my opinion or experience. Prices are slightly lower than South Beach for the luxury buildings.

    I love Akoya, it has indoor racquetball :-)

    Nice full-service building right on the beach. They do allow rentals of only a few months at a time so you get more snowbirds and seasonal people. Its definitely better than say La Gorce Palace or Le Trianon or Mimosa. Bel Aire is a nice building but has fewer amenities than Akoya..and if you can swing it, Carillon (former Canyon Ranch) is always a great choice as well!

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