Asked by Anonymous
Hi when I wanted to rent out my whole HDB unit I was introduced to an agent by my son.I did not know anything about the commission. The agent explain to me that she will charge a 1 month rental as commission. I taught its a 1 time payment,si I agreed .She got a corporate for my unit.The corporate was looking for a whole unit for their employees who are foreigners.The corporate had their own agent.So both the agents braught the HR and one of the employee to view the unit.Its a fully furnished unit which was renovated just about 3 yrs ago.They agreed to rent the unit and fix the rental amount.When everything was completed,my agent braught the agreement and rules for the tenants and also the commission agreement.Since it was a few pages to go through, I trusted the agent's word when she briefed me.I did sign without reading the whole agreement.
Base on the commission I was shocked that has stated 2 mths rental plus gst for 2 yrs.When I question her she said she have already explain to me about the commission,before bringing the tenants. I explain to her that she is only is only finding tenants for me and not buyers so why should I pay her 2 mths commission just for 24 mths rental.which the amount is not worth to pay as a commission for rental. The amount charged to me is about 8.5% of the flat selling price.
As a landlord I feel that I have been cheated.Since I have already signed I taught of just giving her the 2 mths commission plus the gst which was close to 6 k.
It's really a heart pain amount for me as I have explain the her that I am renting out the house because of financial difficulties and to settle my depts and also to help my children with some medical expenses for the father.
I did a survey about the commission and found out from most of the agents that the market value is 0.5 mths for 1 yr and 1 mth for 2 yrs.I got angry with the agent and she refused to accept her mistake but put the blame on me.
One kind agent asked me to call her and I did share with her the agreement, I only knew about the agreement after she told me that my agent have also stated that if there is an extension after 2 yrs I have to pay her 1 mth rental.
I am not going to pay her any commission as she have already taken 2 mths commission which is 100% above market value.
I agent have mentioned that no harm paying extra commission above market value,but my answer to that particular agent is if someone wanted to rent our just for investment its different, that landlord whi is willing to give 100%above market value as commission to the agent because he might be filthy reach.But poor people like me will never pay if she could have explain to me properly.
Willingly agreeing to give extra commission is a different meaning from charging the landlord extra commission.
I am not going to have any agent if the corporate wants to extend the lease. If she demands then I won't hesitate to take legal action.
Base on the commission I was shocked that has stated 2 mths rental plus gst for 2 yrs.When I question her she said she have already explain to me about the commission,before bringing the tenants. I explain to her that she is only is only finding tenants for me and not buyers so why should I pay her 2 mths commission just for 24 mths rental.which the amount is not worth to pay as a commission for rental. The amount charged to me is about 8.5% of the flat selling price.
As a landlord I feel that I have been cheated.Since I have already signed I taught of just giving her the 2 mths commission plus the gst which was close to 6 k.
It's really a heart pain amount for me as I have explain the her that I am renting out the house because of financial difficulties and to settle my depts and also to help my children with some medical expenses for the father.
I did a survey about the commission and found out from most of the agents that the market value is 0.5 mths for 1 yr and 1 mth for 2 yrs.I got angry with the agent and she refused to accept her mistake but put the blame on me.
One kind agent asked me to call her and I did share with her the agreement, I only knew about the agreement after she told me that my agent have also stated that if there is an extension after 2 yrs I have to pay her 1 mth rental.
I am not going to pay her any commission as she have already taken 2 mths commission which is 100% above market value.
I agent have mentioned that no harm paying extra commission above market value,but my answer to that particular agent is if someone wanted to rent our just for investment its different, that landlord whi is willing to give 100%above market value as commission to the agent because he might be filthy reach.But poor people like me will never pay if she could have explain to me properly.
Willingly agreeing to give extra commission is a different meaning from charging the landlord extra commission.
I am not going to have any agent if the corporate wants to extend the lease. If she demands then I won't hesitate to take legal action.
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