modernhomeowner t1_j6is1v6 wrote on January 30, 2023 at 5:08 PM

Reply to comment by HankAtGlobexCorp in Areas near Boston to live by LazarusLong67

Literally said I'm not a broker nor a landlord. I just understand economics. Cheaper now doesn't mean cheaper later.

HankAtGlobexCorp t1_j6iwdp2 wrote on January 30, 2023 at 5:35 PM

Not if you insist on paying an unnecessary middleman. I own and rent a condo in another market with much lower demand than Boston and would never even think that a broker is necessary for tenant acquisition.

modernhomeowner t1_j6j65sa wrote on January 30, 2023 at 6:35 PM

A landlord has a choice to do the work themselves, have a staff, or hire experts (brokers, electricians, plumbers, etc). If the law forbids a landlord to charge for brokers (as it does for electricians and plumbers), it just increases the rent. As we see in NYC as they outlawed charging broker fees, rents went up to compensate. I'd be smiling ear to ear as a NY landlord, getting to raise the rent and keeping the excess each year the tenant stays.

The best part for consumers is if they want to pay the broker fee, they can, and it results them paying less over time. If they don't want to pay a broker fee, they can find someplace else, may end up paying more over time. It's a personal decision. Luckily for landlords, people are willing to pay extra to have the landlord pay the broker or their staff, or themselves.

Economist is a 9 letter word meaning cheap. If there is a way to get something cheap, I'll tell you; the law forcibly passing the broker fees to landlords isn't the way to do it.

HankAtGlobexCorp t1_j6jfmy0 wrote on January 30, 2023 at 7:34 PM

Not once have you made a compelling argument for the existence of brokers for an average apartment and you keep referring to them as a necessity, which I disagree with.

Property management companies provide a service that alleviates a burden for passive landlords. Brokers do nothing for a typical renter or landlord for that matter that wouldn’t be better folded into a long term management service.

I disagree with housing as a rent seeking activity and do not do so above costs of paying a mortgage, HOA dues, and expected upkeep.