Rental Agent Commission and Service

P

Purple

New member
What is the standard commission that rental agents charge in Irvine to list a home for rent and what services are expected from the agent. I heard 5% of 1yr rental amount, is this what we need to pay to list and screen the tenant? I am planning to rent out my condo in Woodbury, Irvine (3Br,3BA - 2025 sqft) for one year lease, starting from February 2016. This is the first time I am doing, so any information and / or referrals will be appreciated.
 
The most common commission structure is 5% of the annual rent (even if a longer lease is signed) that is split equally between the listing agent and tenant agent.  I don't know what other realtors do on their rental listings, but I get professional photography, advise the client on if they should do anything with the loan (paint, repair items, etc), show the home to people who contact me to see it, draft up a copy of the lease, and run the background check on the tenants for the landlords. 
 
Sort of related, but anyone have experience with rental management firms who would find tenants, but also help coordinate repairs? It's early, but this might be a future situation for us involving a house in Lake Forest.
 
Kangen.Irvine said:
Sort of related, but anyone have experience with rental management firms who would find tenants, but also help coordinate repairs? It's early, but this might be a future situation for us involving a house in Lake Forest.
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Honestly, your realtor should provide you with a list of trusted contractor referrals.  No offense to rental management companies or individuals, but they are just a waste of money.  With a good tenant, the property manages itself for the most part.  I'm also a landlord so obviously I use those contractors on occasion. 
 
USCTrojanCPA said:
Kangen.Irvine said:
Sort of related, but anyone have experience with rental management firms who would find tenants, but also help coordinate repairs? It's early, but this might be a future situation for us involving a house in Lake Forest.
Click to expand...

Honestly, your realtor should provide you with a list of trusted contractor referrals.  No offense to rental management companies or individuals, but they are just a waste of money.  With a good tenant, the property manages itself for the most part.  I'm also a landlord so obviously I use those contractors on occasion. 
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But doesn't this depend on the age of the property and if it's a "good" tenant?

Personally, I would go with a property manager, it was really a drain on me to do repairs or coordinate repairs. If you don't work fulltime it's obviously easier but the last thing I want to do after a long day at work is replace someone's toilet valve (true story).

@Kangen:

You should PM IrvineRealtor (Scott Gunther), I believe he does property management and if not he can refer you to someone.
 
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