matrix0405 0 Report post Posted January 5, 2011 If do not use an agent to rep and the landlord rents out his own place, but the tenant goes thru an agent, does the landlord still have to pay the agent; given the new ruling that an agent cannot rep both party? Does the agent in this case collect the service fee from the tenant? What is the practice now with this new rule? Share this post Link to post Share on other sites
blue_skies 3 Report post Posted January 6, 2011 If do not use an agent to rep and the landlord rents out his own place, but the tenant goes thru an agent, does the landlord still have to pay the agent; given the new ruling that an agent cannot rep both party? Does the agent in this case collect the service fee from the tenant? What is the practice now with this new rule? From what I understand, each party pays their own agent. So if you have no agent, you don't need to pay anyone anything. Only the tenant will pay his agent the service fee / commission. One thing to note - if you do not use an agt, make sure the tenant's agent gets the tenancy agreement stamped otherwise you are liable to get fined by IRAS. The stamp duty for tenancy agreement is paid for by the tenant. i.e. name of applicant is the tenant when completing the form. You can read up here http://www.iras.gov.sg/irasHome/page04.aspx?id=2132 Share this post Link to post Share on other sites
matrix0405 0 Report post Posted January 6, 2011 From what I understand, each party pays their own agent. So if you have no agent, you don't need to pay anyone anything. Only the tenant will pay his agent the service fee / commission. One thing to note - if you do not use an agt, make sure the tenant's agent gets the tenancy agreement stamped otherwise you are liable to get fined by IRAS. The stamp duty for tenancy agreement is paid for by the tenant. i.e. name of applicant is the tenant when completing the form. You can read up here http://www.iras.gov.sg/irasHome/page04.aspx?id=2132 Thanks for the info on stamping. You can now do stamping online, which is easier and save u tons of time and effort making yr way to novena. Wonder why they took so long to implement online stamping! Share this post Link to post Share on other sites
Plastic3 0 Report post Posted January 6, 2011 If do not use an agent to rep and the landlord rents out his own place, but the tenant goes thru an agent, does the landlord still have to pay the agent; given the new ruling that an agent cannot rep both party? Does the agent in this case collect the service fee from the tenant? What is the practice now with this new rule? Yes, the Agent not suppose to collect commission from both sides or even sign any doc as witness for both sides. Share this post Link to post Share on other sites
jeffcraze 0 Report post Posted January 6, 2011 Means every rental agreement, whether is it for a room or the whole flat, muz get stamped? Share this post Link to post Share on other sites
Plastic3 0 Report post Posted January 7, 2011 Means every rental agreement, whether is it for a room or the whole flat, muz get stamped? Yes Share this post Link to post Share on other sites
