When I was looking for a rental property in Mumbai, I decided to hire a real estate agent or broker to help me with the process. I knew that the agent would charge a commission fee for their services, but I wasn't sure how much it would cost. I asked around how much does a real estate agent cost for renting, to make sure I was not being overcharged.
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Typically,real estate agents in India typically charge a commission fee of one month's rent for rental properties. I also learned that I would need to pay a service tax of 18% on top of the commission fee. Eg, if the monthly rent of the property is Rs.40,000. You will end up paying Rs.40,000 as commission.
My aunt told me that commission rates can vary depending on the location, the property type, and the agent's experience. The fee can range from 15 day’s rent for rental property to 2.5 months' rent.
This fee includes the cost of finding good rental property that meets your needs and negotiating the terms of the lease agreement with the landlord. You can try negotiating the commission fee with the real estate agent.
Most agents charge a bomb. You can also search for rental properties on your own with websites such as NoBroker,Magicbricks, 99acres, and Housing.com.
Overall, I felt that hiring a real estate agent was a worthwhile investment, especially since I was new to the area and didn't know much about the local rental market. This is all my from end on how much does a real estate agent cost for renting.
Read more:
Is there any regulation for brokerage on property deals? What is a real estate broker commission?
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How much does a real estate agent cost for renting?
Anonymous
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2023-03-07T10:13:28+00:00 2023-03-07T10:33:31+00:00Comment
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