Renting a Home in Los Angeles, The Realtor's Role Explained

Most landlords offer a stately 0 bucks in my market for rental commission. Then they wonder why agents are not willing to bring "clients" to their property.

I would if I could . . . but I can't!  Very well stated Jane.  We don't do rentals at all here. Property management companies will find rentals for tenants or the tenants are on their own.  No one pays a real estate agent commission, we don't even advertise them on the MLS (thankfully).  From time-to-time I'll get a call from someone moving to the area that wants me to find them a rental.  I would if I could . . . but I can't. 

Jane -- well said, I can't count the number of phone calls/email inquiries I have received asking for that special little cottage or guest house and oh by the way, room for my doberman --- I will be as helpful as I can but there are extreme limitations and I let them know that upfront.   In addition to your excellent suggestions -- I suggest driving through the neighorhoods you like and look for those "for rent" signs and of course asking friends and co-workers -- it's not easy in our market to find affordable rentals. 

Jane - You've done an excellent job of explaining how REALTORS get paid, and what rental listings are available for you to show a prospective tenant.  It takes courage to let a potential renter know what you can't show them.  It's too bad they may take that news as mean-spirited, or that you just don't want to work the low end.  You're a first class agent all the way Jane! 

I help renters out, but truly I don't make a lot of money doing it.  I really don't allow it to take a whole lot of time and kind of let them know up front that this isn't a big money maker for me.  We narrow down a few homes, go and look at them and then once they pick one, they get the application, my card and the directions on where to take it :)!  My highest paid commission on a rental was $800 and with the broker split, it turned to way less than that lol :)!  Most rentals here go for around $200, so unless you are doing a thousand of them, they aren't very economical. 

Seems like we were both in the education business today, Jane.  Educating the public is the best service we can offer them, so many times.  For renters in your Los Angeles area, you're definitely the educator and professional they need to assist them when looking for rental properties.  Your phone should be ringing off the hook ...

Gene

Jane, when I did real estate in the SF Bay Area, I helped tenants find rentals because they were listed in our MLS. Here in the Sacramento area, rental listings are prohibited, so Craigslist is basically the go-to source for prospective tenants. :)

Leilani

Jane, I have done one rental in my entire career, and that was to get an ex-husband out of the house.  But now, as rental amounts increase, I've started to rethink the whole thing.  And I think I'd get an agreement with the client that they pay me, with what is offered by the listing company offsetting my fees.  Here a very small percentage of rentals actually get listed with agents, and those that are not forget to offer incentives for agents to show them.