Drawbacks on Working with Apartment Agents

by Jonathan Cogley

Very few people consider using an apartment agent or broker when looking for an apartment. For a fee, apartment brokers show you apartments that meet your price range in the neighborhoods in which you are interested. Brokers have access to more or different apartments. Each apartment broker has an inventory of apartments which they are given permission by the landlord to show. In some cities like Georgia and Texas, brokers control the market, which means that most apartments in atlanta are available only through brokers. Some landlords do work with multiple brokers, which can drive up the competition, if more than one broker is clamoring to rent out the apartment. This, of course, is more of an issue in areas dominated by apartment brokers. The following are some of the disadvantages on working with apartment brokers.

  • You pay only if they deliver. From their point of view, the faster you sign the lease, the sooner they get paid. Be watchful for brokers who will say anything just to get you to sign the lease.
  • Broker fee is another aspect where many of the people will get in to fraudulent activities. Whether exorbitant or affordable, broker fees are additional costs and can be quite expensive. Find out the average rate for your local area and remember to budget this into your starting capital.
  • Apartment brokers who work for the landlord, though rare, some brokers receive their commission from the landlord or apartment vendors. This may arise, if a landlord or apartment management company wants to protect itself from undesirable tenants by hiring brokers whom they trust to find them appealing tenants for apartment rent st louis. You gain the benefits of working with a broker, minus the fee, but their first priority is to serve the landlord or company. So be tactful.

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