Realtor/blogger George Crossman points out that landlords are no longer offering to pay a second commission on lease renewals and sends along 7 or 8 new listings to prove it. I handle rentals pretty much just as an accommodation to clients who can’t find what they want to buy, so I’ve never looked to rental commissions as a significant source of income. It’s been easy, therefore, to toss in the unearned renewal commission as part of my client’s offer: what was I supposed to have done to earn one? You find a place, your clients move in, you get paid, period. The tenant decides to re-up, I had nothing to do with that.
For those agents for whom rental commissions are keeping them afloat, I suppose this is a big deal. I see it as fair, and long overdue.