Housing agent's finding fee

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Schbang
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Housing agent's finding fee

Post by Schbang » Mon, 17 Jul 2006 6:34 am

Hi, I'm arriving in SG soon. My company has put me in touch with a housing agent, who I have been in contact with but am not bound to. They have advised me that if I take a property with a monthy rent of 2500 SGD or less, I would need to pay an addition finding fee equal 1 months rent. As anyone come accross this before? Is this standard for all agents?

Thanks in advance.

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Florian
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Post by Florian » Tue, 18 Jul 2006 6:30 pm

Hi,

for SGD 2.5k or less and 12 mos lease you need to pay 50% of the monthly rental as commission.For 24 mos lease you need to pay 1 monthly rental as commission.

Rentals of 2.5k and above are free of commission!

Nice brokers give you 50% commission even for 24 Mos contracts!

Another advice,always bargain!!!! SGD 200-400 bargaining space is usual - especially when you consider a 24 Mos lease!

Good Luck!

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megha
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Post by megha » Thu, 20 Jul 2006 1:45 pm

Hello Florian
Wld u know if I must pay my agent comission for renewing my contract, I have no contact with owner so I am forced to contact my agent for renewal...and what can I bargain for...afterall there is not much work my agent will do..

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Post by Florian » Fri, 21 Jul 2006 5:24 pm

First of all, I would renew the contract with the broker if you cannot get to the Owner directly to avoid that you have to move out!
Then I would reject the payment as long as possible and tell the broker that he should better try to get his commission from the owner because he actually has not done anything for you except for calling the owner...
Or just ask your neighbours next door whether they have the number of the owners....Maybe easier... :wink:

I am no real estate broker...sorry...

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Schbang
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Post by Schbang » Fri, 21 Jul 2006 9:50 pm

Thanks for your help Florian, I have taken this subject up with the agent now and unfortunately there is no chance of reducing this fee. At least I know it is a common fee and how much to try and bargain on the rental value. On the whole this agent's service has been good so I expect to stick with them.

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