Commission for renewal of lease?

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jpatokal
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Commission for renewal of lease?

Post by jpatokal » Thu, 22 Mar 2007 3:23 pm

Short and sweet --

I signed up to a one-year lease with an option to extend by one year. Now it's time to extend, and the agent wants half a month's rent in commission for the renewal. Should I advise her to go commit an unnatural act under section 377 of the Penal Code with herself?

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chixchix
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Post by chixchix » Thu, 22 Mar 2007 5:17 pm

Isnt it possible to deal with the owner directly ? Or just give a cold cal lto the agency's company and check their regulations?
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jpatokal
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Post by jpatokal » Mon, 26 Mar 2007 11:39 pm

The landlord is apparently some senile Chinese lady who doesn't speak a word of English (or at least is unwilling to deal with ang mohs, I've never met or spoken to her), and the agent is her relative. The agent's never done anything at all for me, I just took over a friend's lease and already once paid her commission. And they're yanking up the rental too. No more Mr. Nice Guy, methinks... :mad:
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Post by audiojunky » Tue, 27 Mar 2007 9:42 am

Are there are "rules" for agent commissions?

This is what I'd heard ...

1) Agent fee = 1 month if you sign a 2 year lease

2) Agent fee = 1/2 month if you sign a 1 year lease

3) If rent is less than 2500 tenant pays agent fees

4) Is rent is more than $2500 landlord pays agent fees

5) No commission is paid by either party (tenant or landlord) if you renew a lease

Can anyone verify this?

nicoletta
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this is true

Post by nicoletta » Thu, 29 Mar 2007 4:34 pm

even my broker / agent wants the commission if i reniew the lease on the flat ; there should be a paragraph on your lease, check it out even it is not clear like mine ....and be careful ask how much the rent is going up

for example my landlord would only do business through the agent and not directly with us; so we were kind of stuck and paid !!!

good luck

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Post by taikoo » Thu, 29 Mar 2007 5:23 pm

I had a similar situation while signing my two year agreement with my landlord. The Landlord's agent tried to cleverly put in a clause on my giving a month's brokerage in case I extend the lease beyond two years.

I stood my ground, and told the landlord and my agent that I will cross out the clause as I am unacceptable to this clause. My agent agreed with me. Even the landlord agreed and countersigned at the crossing out.

In short - you can refuse to agree for such additional brokerages.

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Post by Matney » Fri, 30 Mar 2007 5:07 pm

I think each situation is different and it all depends on who you are dealing with.
We recently(Jan '07)agreed to a double in rent for 6 months. No paper work was signed, all done through sms. We hated agreeing to the double the rent, but we looked and by the time we moved and went through all the 'normal stuff' again, we felt it was even. We're leaving Singapore in June any way, so it was the best we could do. Nobody would rent a place for 6 months. Oh, LL was wanting more than double so we thought we better grab it while we could.

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