Asked by Tenant
The scenario:
2 agents, 1st of landlord and 2nd mine.
1st time 2 yrs lease, landlord paid 1mth to his agent and I paid 1 mth comm to my agent.
2nd time , lease renewed for 1 yr, landlord paid 15 days to his agent and I paid 15 days to my agent.
3rd time, one year lease renewal, landlord paying 15 days to his agent.
Q:
1. Is there any stipulation on total commi amt with regard to one property e.g. 1 mth max collective commission for 2 yrs lease regardless number of agents involved.
2. Is my situation considered co broke?
3. CEA regulations about co broke e.g. 2 agent share same comm
4. Why pay agent the full comm on renewals as he just gets sign on agreement. This time no service is provided apart from paperwork. First time it was justified as he showed many houses and gave his time.
Kindly advice on appropriate commission to be paid to agent upon second and subsequent time renewal e.g.7 days rental equivalent instead of 15 days for one year lease renewal.
2 agents, 1st of landlord and 2nd mine.
1st time 2 yrs lease, landlord paid 1mth to his agent and I paid 1 mth comm to my agent.
2nd time , lease renewed for 1 yr, landlord paid 15 days to his agent and I paid 15 days to my agent.
3rd time, one year lease renewal, landlord paying 15 days to his agent.
Q:
1. Is there any stipulation on total commi amt with regard to one property e.g. 1 mth max collective commission for 2 yrs lease regardless number of agents involved.
2. Is my situation considered co broke?
3. CEA regulations about co broke e.g. 2 agent share same comm
4. Why pay agent the full comm on renewals as he just gets sign on agreement. This time no service is provided apart from paperwork. First time it was justified as he showed many houses and gave his time.
Kindly advice on appropriate commission to be paid to agent upon second and subsequent time renewal e.g.7 days rental equivalent instead of 15 days for one year lease renewal.
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