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Key-Neat5457 t1_jad3dof wrote

Reply to comment by Chippopotanuse in Is this normal? Agent asking for $3,455 brokers fee before signing lease by psyrag

Easy to be a landlord on 25 year old margins

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Chippopotanuse t1_jad5w0u wrote

Cool. Except my most profitable building in terms of margins is one that I bought two years ago.

It’s always a huge red flag (and a sad commentary on society) when a tenant is so desperate for housing that they are willing to pay excessive fees up-front.

So I don’t charge them. It would result in only having red flag tenants applying and scare away the best tenants.

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Key-Neat5457 t1_jad9hct wrote

Easy to buy your most profitable building when your portfolio is 25 years old. Just tired of hearing about the realtor fee drama. Finding tenants is time consuming it’s why realtors are paid to do it. I’ll happily pay the realtor fee for you but guess what you’ll just pay more in rent.

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Budget-Celebration-1 t1_jadhl32 wrote

Hah! Name me one realtor that gives a fuck about the tenants or the landlords! As a landlord myself I’ve dealt with them and I’ve yet to find a good one. Every single one of them tried to get me to drop the deposit etc because I assume the tenant they found could not afford their fee. I told them to drop their fee or have them contact me directly. I never use agents because I don’t trust they are out there looking for a good tenant.

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Key-Neat5457 t1_jadjtc2 wrote

You’re working with the wrong realtors. In the end there’s good/bad landlords, realtors and tenants.

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Chippopotanuse t1_jadlg5m wrote

Finding good tenants is the CORE of your business as a landlord.

Tenant screenings gets far less “time consuming” if you take care you your tenants, have near-zero turnover, and have a waitlist of folks who want to live in your properties.

You sound like you are 0 for 3 on those things, so yes, please keep using a realtor to help you place new tenants every year as you burn though the ones you have.

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Key-Neat5457 t1_jadmpbk wrote

Wrong again. Most of my tenants are long term but there are areas of Boston where there is yearly turnover that’s where a good realtor comes in.

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Chippopotanuse t1_jadqjhc wrote

Everyone is always wrong except you.

So it’s kinda weird how you the one who is so bitchy and grumpy…I’d think all of your success would leave you less irritable.

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Key-Neat5457 t1_jadr4tp wrote

You’re making it seem like being a landlord is the easiest thing to do. It’s not easy when you’re just starting. It’s okay to use a realtor to help with the process.

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