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Rental Agency question

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I am looking for a rental and here is what is happening.

Agency X: I see a listing on their site on Monday at $100 dollars. A friend of mine looks at the property on Tuesday. I call the agency to move forward. On Wednesday I see the property listed on their site for $150. I call the agent and they tell me they will check with the landlord but they think the landlord will go for $100.

Agency Y: I see the same listing on their site for $150. The listing was not there yesterday.

Both agencies have very good reputations. Is the price increase to help their commissions?

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Could be the owner pulling the strings. "Well, we had an offer at $100, let's see if we can get more". The same thing  happens with properties for sale and it is only to find out the value that someone is willing to pay.

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Be very very careful dealing with rental agencies...there are some serious bad appes out there. 

Ripping off renters and owners alike.  Get and speak with current references at minimum.

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1 hour ago, Ferret said:

Could be the owner pulling the strings. "Well, we had an offer at $100, let's see if we can get more". The same thing  happens with properties for sale and it is only to find out the value that someone is willing to pay.

Very common in sellers markets for the "asking" price to be quickly bid up by willing buyers. Nothing unethical about listening to all offers before deciding which one to accept. I assume the same holds true in a hot rental market. A wise prospective renter should carefully choose their desired property and not be scared off if they get into a bidding war with someone else. It's just how markets work.  Just don't bid any higher than you really are willing to pay.

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Thanks for the comments. If that happened here in the US, I would never use Agency X. I know this property has been listed for months, so I did not expect the owner to up the price. Also, this might be incorrect, but I understand that the owner "signs" a document with the agency for the price. I also understand that the agent can raise the price to increase their commission.

I am not going to word this correctly. But if the owner wants $100 in their pocket, then the agent can raise their commission.

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In one very recent case the agent told the (absentee) owner the house was empty for a long time when in fact there was a paying tenant. When the next tenant moved in they signed a lease for one amount, owner was told a lower amount., and a much later occupany date.  Agent deducted fictitious expenses (non-existent gardener etc) from owner’s ( lower ) amount. Also turns out agent had not paid the taxes or water bills for years.

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I am not asking the name, but was the agent working for one of the larger better know agencies?

 

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If your property manager knows you can, and in fact do, show up unannounced you will be much less likely to be a victim of this scam.

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In one very recent case the agent told the (absentee) owner the house was empty for a long time when in fact there was a paying tenant. When the next tenant moved in they signed a lease for one amount, owner was told a lower amount., and a much later occupany date.  Agent deducted fictitious expenses (non-existent gardener etc) from owner’s ( lower ) amount. Also turns out agent had not paid the taxes or water bills for years.

 

 

ccw-agent is the business owner, she’s been around for years , not one of the larger real estate companies

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