We are looking for an apartment and have an agency who has found a place for us. When we first discussed, the agent told us that the standard commission is 1/2 month rental from the renters paid at contract signing.
We asked about him renewals and after speaking in Mandarin to the other agent with him, he said there shouldn’t be any fee for renewal. As we approach a contract, they have now asked for the 1/2 month AND 1/4 month for any renewals. The agent emphasized that they will be “acting as a bridge between us and the landlord” for the year.
Is it normal market practice for renters to pay a fee (1/4 in this case) upon renewing a lease?
thanks in advance!
Sounds like you may have given the agent a “good” idea for increasing profitability.
Also, it sounds like you should get to know the landlord yourself if you plan on renewing your contract. Shouldn’t be too hard, but I wouldn’t be too surprised if the agent tries his/her best to keep you from knowing how to contact your landlord.
If your stuck for ideas as to how to get the contact information on your landlord, suggest that if there are any serious problems with the place that the agent can pay for it first and get the money out of the landlord instead of you having to wait for the agent to get approval from the landlord. I mean, that’s what a “bridge between you and the landlord” would do right? I’m sure the agent wouldn’t agree to that, so then it should be a problem for you to have the contact information then? I’m sure that the agent will have a few ideas as to how to weasel out of this suggestion, but if you keep pushing for the information on way or another you’ll get it.
Glad I saw this post as I’m going to be renting a place through an agency and I’m sure as hell am not going to pay for some renewal fee when it’s time to renew a lease. Especially considering that the agent I’m talking to won’t be doing anything to take care of the house like a proper management company and I’ll be paying the rent directly to the landlord’s bank account.
I doubt I’m not the only one who is irked by people who try and find a way of staying attached to one’s tit.