and 7% GSTNBB2 wrote:It's linked to the amount of rent you pay, as well as the duration of the lease. Generally, you pay half a month's rent per year of lease when the rent is less than S$2,500,-.
So if your rent is S$2,400,- per month and a it's two year lease, you pay S$2,400,-. If it's a one year lease, you pay S$1,200,-
When the rent is more than S$2,500,- you don't pay any commission, your landlord does.
Having said that, this is not an etched-in-stone rule, more like a general guideline.
Still, if anyone tries it on with you, just refer to above.
Indeedio.nakatago wrote:and 7% GSTNBB2 wrote:It's linked to the amount of rent you pay, as well as the duration of the lease. Generally, you pay half a month's rent per year of lease when the rent is less than S$2,500,-.
So if your rent is S$2,400,- per month and a it's two year lease, you pay S$2,400,-. If it's a one year lease, you pay S$1,200,-
When the rent is more than S$2,500,- you don't pay any commission, your landlord does.
Having said that, this is not an etched-in-stone rule, more like a general guideline.
Still, if anyone tries it on with you, just refer to above.
Can someone confirm the situation for one year leases? I've seen other comments saying the "tenant pays no commission" threshhold doubles to $5000 for a one year lease. And an agent recommended to us by a friend sent us his standard writeup which would imply she wants commission from us for a one year lease regardless of rent level. Is this something we should negotiate with her, is it standard, or should we move on?NBB2 wrote:It's linked to the amount of rent you pay, as well as the duration of the lease. Generally, you pay half a month's rent per year of lease when the rent is less than S$2,500,-.
So if your rent is S$2,400,- per month and a it's two year lease, you pay S$2,400,-. If it's a one year lease, you pay S$1,200,-
When the rent is more than S$2,500,- you don't pay any commission, your landlord does.
Having said that, this is not an etched-in-stone rule, more like a general guideline. Still, if anyone tries it on with you, just refer to above.
I would personally find a decent agent rather than be conned by this one. Unfortunately you being a newbie the agent is just trying to take advantage of this, and by the looks of it she managed to get away with it when dealing with your friend.ottawan wrote:
Can someone confirm the situation for one year leases? I've seen other comments saying the "tenant pays no commission" threshhold doubles to $5000 for a one year lease. And an agent recommended to us by a friend sent us his standard writeup which would imply she wants commission from us for a one year lease regardless of rent level. Is this something we should negotiate with her, is it standard, or should we move on?
Thanks!
(arriving in August)
There aren't any offical rules concerning agents commission rates and who pays, only guidelines. If an agent tries to tell you that legally you have to pay blah blah they are blatently lying!supernena wrote:Is there anywhere official that we can site for this? I have already had one agent say that "Oficially" the rules have changed because they do not want to cobroke. Would be good to say according to...........this is not true. Is there an official Real Estate agent board stating legal norms for commissions?
I always get the agent to comfirm that they are acting on behalf of the landlord and that I wont be paying any commissionbeppi wrote:There are NO rules about agent's commissions in Singapore.
Whenever an agent tells you otherwise, it's only because he/she wants you to believe it and accept HIS/HER ideas.
All commissions should be negotiated beforehand by mutual consent. If no consent was reached, no commission should change hands!
I personally had no good experience with any Singapore agent and can only recommend staying away from them. Doing it yourself will give you a better deal with just slightly more hazzle!
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