'Montevideo Apartment Rental; Real Estate Agent Commissions'

In his blog post, Rented an Apto in Pocitos urufish expressed some surprise at the real estate commissions paid out.

What we've been told is this is the standard commission:

• 12 month lease; 1 month commission,
• 6 month lease; 1/2 month commission,
• under 6 momths; 10% commission.

Now, the renter pays this commission to his real estate agent, and the owner pays the same amount to their real estate agent.

What happens if there is only one agent for both parties? I have no idea, but I think that is bad idea as the agent won't be completely representing you.

When its time to move out your agent should be there to help with the process. And, most importantly, ensure that your deposit is returned.

I also understand the maximum deposit allow by law is 5 month rent. Though one place told me 6 months when I called and some owners require a guarantee of other real estate.

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Last year, we rented out two of our own apartments to other people. In both cases, we required a guarantor, someone who put a property up as a guarantee. We turned down 3 applicants because they didnt have a guarantor. One winner offered a year up front. The deal was pay for 12 months, get 13. We agreed. In the other case, they pay by the month, autodebit from their bank account. No deposit. Practically speaking, the landlord can ask for whatever they want. It depends on the local market.

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