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As per Estate Agent agreement:'On subsequent renewal of the lease, the landlord shall be liable to pay further commission to the Estate Agent. If further commission is payable upon renewal, such commission shall amount to S$ x month rent for 12 months'. 1. How much to pay if the lease is renewed for 24 months? rent*x or rent*x*2? or rental*1/2*2? 2. Do I need to pay the original agent if I engage another agent for the renewal?
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1 Answer

Steven Wang
Replied
Hi,
The industry practice is :
1 mth rent equivalent for every 24 mth lease.
1/2 mth rent equivalent for every 12 mth lease. (GST applicable, depending on the agency)

If your tenant renews his lease after the initial lease expires, the comm is still payable to the original agent.

Why would you engage another agent to do a renewal of a lease when this new agent has nothing to do with the current tenant ?

If the lease expires and the tenant moves out, then the contract ends.

If another agent introduce a new tenant and close the rental for you, then you pay comm to this new agent.

Steven Wang
DTZ Property Netwrok Pte Ltd
khim,wang28@gmail.com
 9169 5023  Read More
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