Rental questions

[verykiasu2010]

recently rented a unit, contract is 14 months, agent collect comm from landlord

[fightingmom]

atrecord:

Then what if it's less than $3K? Does landlord need to pay, and how much?

In general, landlord has to pay commission to his representative agent whether the rental is above or below $3K.

However for a tenant:
if the rental amount is less than $3k, then tenant has to pay commission to his representative agent. If rental amount is more than $3k, then the tenant's representative agent will \"take\" his commission from the landlord's agent (that is , they share the commission).

[fightingmom]

verykiasu2010:

recently rented a unit, contract is 14 months, agent collect comm from landlord

So is the rental amount more or less than $3k ?

[verykiasu2010]

fightingmom:

verykiasu2010:

recently rented a unit, contract is 14 months, agent collect comm from landlord

So is the rental amount more or less than $3k ?

it is more than S$3k

however, in another case, a relative, rented less than $3k, also no need to pay, because the landlord paid for the commission

last time I also rented out my condo less than $3k but also I paid all the commission, no way tenant going to pay

the rationale is landlord's agent found the tenant, not the tenant's agent found the landlord or his agent

[fightingmom]

verykiasu2010:

fightingmom:

[quote=\"verykiasu2010\"]recently rented a unit, contract is 14 months, agent collect comm from landlord

So is the rental amount more or less than $3k ?

it is more than S$3k

however, in another case, a relative, rented less than $3k, also no need to pay, because the landlord paid for the commission

last time I also rented out my condo less than $3k but also I paid all the commission, no way tenant going to pay

the rationale is landlord's agent found the tenant, not the tenant's agent found the landlord or his agent[/quote]Ah... i think i read somewhere that the new rule for agents is that they can only represent one party so as not to have conflict of interest. :scratchhead: Is that right ? :?

[radiantmum]

i am getting confused with the over 3k who is supposed to pay now and it seemt so be up to the property agents’ interpretation. Is there a real estate board/website that can verify with?


n Fat Mama - thxs for your reply. verykiasu2010 - thanks - makes sense too!

[verykiasu2010]

some time landlord has an agent while tenant also has another agent sourcing for him


no representation of both landlord and agent by the same agent, unless both the agents collude to fleece either the landlord or the tenant

[lim72]

Yes. Now landlord's agent cannot take comm from both party. Even if the agent found the tenant and the tenant is not represented by any agent. The tenant will represent himself or find an agent to represent him .This is silly. Looking for someone to pay comm to.

[MMM]

If your current tenant of 4 years wants to renew the lease for 4 years, what kind of discount would you offer them?

[Funz]

ummm… if the rent is based on the rent 4 yrs ago, then no discount cos 4yrs ago rental mkt soft so amount will be low. If the rent being relooked, then maybe give them 1 mth rent free since they saving me headache of having to look for new tenant and agent fee.