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I found a house with an out of town owner who is a broker. After talking with her she doe's not want to sell. She has a Realtor in the area that she is not happy with for whatever reason. And so with what i do we talked about me finding her a tenant. Now of course i can not get a finders fee from her per the real estate rules, so now the question is, can i get paid to find her a tenant and have it be on the up and up? Is there a way to make this work?

 

Learning burning and working it..

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Legally, no, you cannot bring a tenant to a homeowner for a fee. That transaction clearly falls under brokering real estate without a license. This owner/broker surely knows this. My first question is why has she hired another Realtor to put her house on MLS, and why does she need you to find her a tenant. I would think she can do all of this herself.

Now, with that said, a legal way around this is for you to sign a lease with the homeowner and then assign your lease to her tenant. It's the same principal as a Cooperative Assignment, but for a straight lease only. Is it worth it dollar-wise?

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She is 500 miles away and has not had any interest in three months. Why she can't get a renter I guess because the distanc. Figure I could get one months rent or so if a get her a renter while doing my marketing for houses. Is it something you would do? I'm for listening to what the naked one would do.... rental rate 1200..

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It's something I would do and have done. Yes, it's pushing the envelope regarding the license thing, but who's watching these things? The Real Estate Police? Charge 1 month's rent, find her a tenant, take the money and slither off under the rocks where we all reside. Just draw up a simple Finder's Fee Agreement, or Marketing Agreement to cover yourself. However, with the homeowner being out of the area, it's easy for you to retain control. You'll be showing the property and when you do find an acceptable tenant, they will need to meet with you at the property to sign the lease and to bring their money, usually first, last, and security deposit. $1,200 of that money will be in the form of a cashier's check payable to you.

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