Ask Greenwich Real Estate Broker James Martin - Commissions For Rentals

Question:

Is it standard to pay a commission to the real estate agent for a rental property in Greenwich?

Answer:

Commissions paid by the buyer or tenant should be outlined in your representation agreement and discussed. Typically, an agent representing a buyer or tenant will indicate a commission level that will be owed within the agreement. If the property was listed by another brokerage firm, there is usually a commission paid by the landlord which will cover the tenant's agent commission. If the property was not listed with another agency, then a commission may not have been paid by the landlord, leaving you owing the commission.

Either way, it is common practice that a 1 month commission is paid and split between the listing agent and the buyer/renting agent.