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Should I pay my agent to help with renewal?

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bau
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Should I pay my agent to help with renewal?

Post by bau » Wed, 04 Sep 2019 8:13 pm

Hi all,

I'm a tenant, and the time has come for us to renew our lease. Our agent (the one who represented us and helped us find the place), is offering to help negotiate the renewal for 1/4 of the monthly rental cost. She also said she understands if we don't want to engage her for this -- we aren't obligated to pay.

Do you all think it's worth it to pay her to have her help with the renewal?

One the one hand, it could be helpful to have someone represent us in the negotiations, including helping us get our security deposit back. On the other, 1/4 of the month's rent is a bit steep. I trust her, as she did a good job helping us find the place, but I hadn't heard from her in the two years since we originally signed the lease.

Thanks!

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Max Headroom
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Re: Should I pay my agent to help with renewal?

Post by Max Headroom » Fri, 06 Sep 2019 8:28 am

My take: It's a renter's market if ever there was one. Your LL will be dead keen to keep you on and you can likely nego a lower rent than the previous lease. You don't need the agent.

Disclaimer: Results may vary.

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singaporeflyer
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Re: Should I pay my agent to help with renewal?

Post by singaporeflyer » Fri, 06 Sep 2019 2:36 pm

Max Headroom wrote:
Fri, 06 Sep 2019 8:28 am
My take: It's a renter's market if ever there was one. Your LL will be dead keen to keep you on and you can likely nego a lower rent than the previous lease. You don't need the agent.

Disclaimer: Results may vary.
It is totally up to the OP and the rapport he has with the LL. If he is confident that when he is vacating, he can meet the expectation of the LL by keeping the house clean, items in good shape, etc, then there is no need for a agent. He can manage it by himself.

1/4 month is considered cheap for renewal of a 1 year contract. I was paying 1/2 month for 3 years as the LL was not willing to directly interact/engage with the renter/myself.

OP says that the agent was out of touch for 2 years. OP, what do you expect the agent to do for the 2 years? Agents will help you only if you have issues.

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sundaymorningstaple
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Re: Should I pay my agent to help with renewal?

Post by sundaymorningstaple » Fri, 06 Sep 2019 2:56 pm

OP says that the agent was out of touch for 2 years. OP, what do you expect the agent to do for the 2 years? Agents will help you only if you have issues.
I was thinking the same thing.

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