How much is the Agency Fee payable when renting a property?
The standard agency fee for renting a property is typically 1.25 month’s rent and is subjected to 8% SST. This fee is generally paid by the landlord, not the tenant.
Key details regarding agency fees:
- Duration-Based Rates: Fees are regulated based on the length of the tenancy:
- Up to 3 years: 1.25 months of gross rental.
- 3–4 years: 1.50 months of gross rental.
- 4–5 years: 1.75 months of gross rental.
- Exceeding 5 years: 1.75 months of gross rental.