Hi Edoardo,
When it comes to short-term leases in Singapore, agent commission fees typically follow similar practices as those for longer leases, but with some nuances. Here's a breakdown:
1. **Agent Fees for Short-Term Leases**:
Commission fees for short-term leases (e.g., 4 months) are usually calculated as a percentage of the total lease amount. For private properties, it’s commonly **half a month’s rent** for leases under 1 year. However, the fee structure may vary slightly depending on the agent and the specifics of the lease.
2. **Formal Contract/Invoice**:
Yes, it is standard for the agent to provide either a **formal agreement** or an **invoice** for their service fees. This document outlines the commission rate, payment terms, and other relevant details. You should ask the agent for this to ensure transparency and avoid any misunderstandings.
3. **Separate from Lease Agreement**:
Agent fees are typically **separate from the main lease agreement**. The lease agreement between you and the landlord will outline terms like rent, duration, and deposits, while the agent's commission will be negotiated separately. However, it's crucial to confirm all terms upfront to avoid confusion.
In general, it's always good practice to have all arrangements in writing. If in doubt, don’t hesitate to ask the agent for clarification on their fees and get any agreements documented.
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Hope this helps! Feel free to reach out for any more details.
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So how should we behave if the agent request the fee to be paid via revolut and refuses to issue a contract and/or invoice ?
Would we risk that the main lease agreement (that, btw, was signed with the assembly) becomes void ?
Ps: we know that this agent has successfully provided accomodation to other students, but said students were not given a contract for the fee from the agent.
Thank you !