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If They Sell It |
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Hi Edith: I have a house in another state that is rented out with the help of a real estate company. Lately, I have been thinking about selling it. If I sell to the present tenant do I have to give any commission to the company that manages the property? When they found the tenant, I paid them half of the first month's rent and now 10 percent every month. Once the lease is over if I sell to the tenant, am I obliged to pay them any more? |
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You should have a written agreement with the agent you hired to manage your property. Get it out and read it. Somewhere in that document there may be a provision covering your responsibility if you eventually sell the place to a tenant. Otherwise, I don't see why you'd have any liability unless the agent helped with the sale |
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Edith
Originally published on January 30, 2005 |
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