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Guest
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 21 May 08 3:00 pm |
Hi,
Based on IEA guideline, commision is 1/2 month for 1year and below contract. For more than 1year, it is 1month.
So dun get cheated by Agent A.
Stamp duty is to get HDB's stamp on ur tenancy agreement.
This is the legal procedures. Even w/o stamp duty, the tenancy agreement still hold between tenant and landlord. |
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jovin
Joined: 16 Apr 2008
Posts: 39
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22 May 08 4:18 pm |
| is much better to stamp the stamp duty so as to enknownledge by the company as for the agent fees ,i just dun understand y ppl always like to talk on whether is half month or one month ,the only matter is whether u like the units or not than u get just negociate with the other party , wat so difficult ,if u think that u dun wish to paid full commission than u go and look else where to find another units where u can afford to paid the commission ,and for this guest IEA COMMISSION IS ONLY A GUIDELINE , IEA DID NOT SAID THAT YOU MUST ONLY PAID HALF MONTH AND NOT 1 MONTH ,PLEASE READ CAREFULLY AND STOP GIVING FALSE INFORMATION TO OTHER . AND DUN ACT LIKE YOU ARE SO SMART ... |
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jovin
Joined: 16 Apr 2008
Posts: 39
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22 May 08 4:26 pm |
| [quote="jovin"]is much better to stamp the stamp duty so as to enknownledge by the company as for the agent fees ,i just dun understand y ppl always like to talk on whether is half month or one month ,the only matter is whether u like the units or not than u can just negociate with the other party ,i am sur things can work up, wat so difficult ,if u think that u dun wish to paid full commission than u go and look else where to find another units where u can afford to paid the commission ,whether is half month or full 1 month ,a agents have to submit to their company , and this is not a offence as long ur company know that you have collect from the tenants or vendors , can you tell me standard commission for seller to sell their property is 2 % , y some of the seller always wan to negociate the commission ,dun be a dead brain , u are a human beings and not a robort ,and for this guest IEA COMMISSION IS ONLY A GUIDELINE , IEA DID NOT SAID THAT YOU MUST ONLY PAID HALF MONTH AND NOT 1 MONTH ,PLEASE READ CAREFULLY AND STOP GIVING FALSE INFORMATION TO OTHER . AND DUN ACT LIKE YOU ARE SO SMART ...[/quote] |
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Fair to all
Guest
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| Re: Questions about renting a whole unit |
25 May 08 9:29 am |
| Anonymous wrote: | I hope those who really know the answer can reply me, not from hearsay please.
We've went for 2 viewings, planning to rent for a year first. Agent A told us we've to pay 1 mth agent fee and stamp duty fee of about $100, we're required to pay the above amount again if we wish to renew our contract. Agent B mentioned nothing about stamp duty but asked for half mth agent fee. We were confused and asked another agent while we called to enquire a house he advertised, he told us most probably the house that agent B showed us is not available for legal sublet, therefore our agreement will not be stamped by IRA.
Can someone please tell me what are the fees that we tenants actually require to pay and what are the ones supposed to pay by landlord? |
Let me explain to you.
Stamping your tenancy agreement is actually paying tax to the goverment just like buying a house also need to pay stamp duty. The calculation is rental per month x number of months/250. If your rental is $2k, then stamp duty is 2000x12/250 which is $96 and paid by tenant. In addition there is a $2 for a duplicate and a few more dollars for admin fee. If you renew for another year you have to pay another stamp duty of the same amount.
Tenancy agreement is a contract between landlord and tenant and is valid whether stamp duty is paid or not.
For HDB approved flat, submission for approval to rent is done by landlord or its agent to HDB and a fee or $20 is paid by landlord to HDB.
Commission for agent is negotiable between agent and client. IEA recommendation is half month for less than 12 months rent and 1 month for 12 to 24 months. For renewal another half month for another year. Normally this is practised by agents who are IEA members. Market practice for those who dont follow IEA guidelines is half month for 1 year and 1 month for 2 years with renewal of half month for additional year. Since the commission is negotiable, an agent can ask for half or 1 month or even 2 months or nothing at all as the case may be. There is no right or wrong just a matter of agreement.
Hope this answers all your questions. |
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Guest
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28 May 08 12:59 am |
Thanks for the replies. These informations help clueless foreigners like us a lot.
To Jovin,
I reckon you're an agent, let me answer your questions. Tenants like us want to know whether it's half or a month agent fee because the amount is much difference, why should we pay a month's agent fee when other agents can give us similar houses with better service and lower charges? If you think the 50% doesn't mean a big deal, so why are there many agents do not wish to co-broke with others to share their commission? I'm not referring to those who already co-broke with another agents, are these agents also dead brains like you described people like us?
What I don't like is some landlords do not wish to pay the agent fee, causing some agents lying to us that tenants are supposed to pay a month's amount. It's only fair that you tell me honestly the landlord wants us to pay for his share, give us the choice to make the decision whether to accept the deal not lying to us.
My thread is started to learn from the helpful group here not for rude people. And, if you're an agent, please watch out your words. If you think you said nothing wrong for calling the first contributor (and maybe also me) and your potential customers in Singapore names, why not post with your company's name and your contact number, if you're absolutely right, it won't affect your sales, we'll still come to you for business. It's rude people like you causing foreigners in this website to have the negative impression of realtors. I'm glad that the agent who found me my house isn't like you. |
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Guest
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06 Jun 08 10:36 pm |
Ah, totally agree with the previous post (28 May).
I have met all sorts of agents during my desperate room hunt. And frankly, why must some of the agents being so rude to us when we turned down the unit? Can't the agents understand that each has his own choice? (I am sure they will also do the same thing when they find that the unit does not meet their expectations, logically speaking)
Please, uphold the image of your professionalism instead of just cursing through your breath that we tenants are hard to please... We are looking for a HOME, and you are just earning our $$$. Suck up to us man!
-sick of rude agents- |
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Guest
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18 Sep 08 11:04 pm |
| Is there any commision to be paid to the agent for the same house but the contract and the rent terms in the contract is renewed and changed.Please advise and any legal action can be taken against it. |
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Vincent Tang
Joined: 04 Sep 2008
Posts: 119
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20 Sep 08 11:06 am |
| Anonymous wrote: | | Is there any commision to be paid to the agent for the same house but the contract and the rent terms in the contract is renewed and changed.Please advise and any legal action can be taken against it. |
As mentioned, yes you need to pay commission to your agent if you renew your contract. Half a month rental.
As for stamp duty. most landlord won't want to stamp. B'cos if stamp, it means they have to report the unit rental as income and will be subjected to income tax.
For agent commission wise, norm is 50% of monthly rental for 1 year contract and 1 month rental for 2 years lease. addition 7% GST too, which some agent will absorb.
If a landlord refuse to pay commission to agent, I will normlly ask 20% for my transport, phone and time.
Recently got one landlord very stingy, don't even want to pay a single cent, I tear away the tenency agreement and cancel the whole deal. |
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Guest
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16 Oct 08 6:43 pm |
| Anonymous wrote: | | Is there any commision to be paid to the agent for the same house but the contract and the rent terms in the contract is renewed and changed.Please advise and any legal action can be taken against it. |
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Guest
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21 Oct 08 11:06 am |
| Anonymous wrote: | | Anonymous wrote: | | Is there any commision to be paid to the agent for the same house but the contract and the rent terms in the contract is renewed and changed.Please advise and any legal action can be taken against it. |
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Look at the old tenanacy agreement whether it states anything about paying comm for agent for renewal. If not then, it is not entitled to for new contract renewal. |
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