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Are there always residuals for every year of a rental lease? (office space)? |
The listing agreement that I have says that the realtor gets a percent of the first years lease rent and thats it. Someone else told me that there are other residuals that are to be receieved by the realtor for rentals in the commercial real estate besides the regular comission for every other year for the term of the lease...is this true? if so how is that figured out? I think annual residuals on subsequent years would only be paid out to the agent ONLY IF they also take over the management of the property i.e. processing rent pymts, maintenance and other tenant issues. In which case, the mgmt fee would be roughly btw 3-5% of gross rents collected. |
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