Question to house rental agents

[keandre]

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quys,

i want to hire an agent to look for tenant for my house in lapu-lapu, cebu (fully furnished). i am not in cebu so, i want the agent to be the custodian of the property (collect the rent, take care of the property, etc).

my question is: what would be the arrangements are, such as the agent's finder's fee, percentage of the rent, etc.

[the Messenger]

I think there are no specific arrangements. You need to work that out on a case-by-case basis (and with the right person as well... not one who will take advantage of your amenities and run off with your money).

If you purchased a unit in a subdivision, the developer can help you look for tenants (some anyway).

[keandre]

appreciate your reply. thanks.

i am thinking to hire/ask a close friend to do the job. but, i want to offer him an arrangement which is as fair as possible. i thought of asking somebody who is a house rental agent or a house owner (in similar situation).

i think of offering 20% of the monthly rental (say 4K if the rental is 20K) and 50% for the finder's fee. would this be fair?

[mikky]

to help you in this situation, i suggest that you have a contract drafted that will set the terms and agreement of the rental venture. secondly, it is also important that you give him what we call a "special power of attorney" so that he may act on your behalf as regards the property you want him to deal.

[the Messenger]

appreciate your reply. thanks.

i am thinking to hire/ask a close friend to do the job. but, i want to offer him an arrangement which is as fair as possible. i thought of asking somebody who is a house rental agent or a house owner (in similar situation).

i think of offering 20% of the monthly rental (say 4K if the rental is 20K) and 50% for the finder's fee. would this be fair?

This sounds very fair. You're even helping out your friend by paying him/her to stay at your house instead of the other way around. Hope and pray that he/she'll do the same to you and be a responsible regent.

P.S. Figure out arrangements for the utility costs as well. Make sure mabayran. Mahal na raba magpa reconnect sa water and electricity. Just my two cents' worth.

[ed168III]

ngita nalng ug cousin, som1 u can trust, profit sharing lang mo,

[Acranjo]

Hi Keandre,

What you are looking for is a property manager, somebody who find and screen tenants, collect rents and deposit to owners bank accounts, arrange for house repairs, etc. This person could be a licensed broker or agent. Property management fee is normally 8% of the gross monthly rent.

[onlyvic]

well, it's better to have someone you trust or is professional with stuff like this. but if you look for a cheaper one, adto na lang sa imong kaila nga makasaligan.

[ladymarie]

well, it's better to have someone you trust or is professional with stuff like this. but if you look for a cheaper one, adto na lang sa imong kaila nga makasaligan.

btaw sakto jud...

[demonyito]

take mikky's advice..
she nows best in these cases..
attorney gud! hehe