A 2% commission and 1 month’s rent is a common fee structure for real estate agencies when helping clients rent out or sale out their properties.
The 1 Month rent is typically calculated as a total value of the rental contract. For example, if the monthly rent is ₹ 10,000 and the lease agreement is for one year, the total value of the rental contract would be ₹1,20,000. In this case, the agency’s commission would be 1 Month Rent is ₹ 10,000 as a service, charged by agency
The 2% commission is typically calculated as a percentage of the total value of the sale agreement. For example, if the , the total value of the sale agreement is ₹ 20,00000 then 2% commisssion is ₹ 40000 as a service, charged by agency
In addition to the commission, the agency may also charge a fee equivalent to one month’s rent. This fee is usually collected upfront and is intended to cover the agency’s costs associated with advertising the property, showing it to potential tenants, and conducting background and credit checks on applicants.
It’s worth noting that commission rates and fees can vary depending on the location and type of property, as well as the specific services provided by the agency. It’s always a good idea to carefully review the terms of any agreement with a real estate agency before submitting on.
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