Property sales

question

Posted by: NanBroom | 2015/07/06 11:12

Please advise what costs a letting agent is allowed to charge if I appoint them to find a tenant for my commercial property in morning side Durban.

As above

expert answer

Posted by: Carol Reynolds | 2015/07/06 12:53
Estate agents charge between 4% and 10% depending on the services offered. For simply procuring a tenant, a once off commission of 4 or 5% plus Vat will be payable. However, if you require an agent to manage your property and do rent collection and facilitate maintenance and other needs, then a management fee will be charged and the agent will collect a 10% commission monthly.

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user comments

Posted by: Nan | 2015/07/06 14:03
Many tks, so if they add a clause stating that depending on the length of a lease they can claim a certain amount for each year ! Can I cross the clause out and give them the agreed 4 per cent for procuring a tenant and or if they manage they get the 10per cent.
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