Do brokers charge owners of the apartment in rental dealings?
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April 26 2012 , 12:53 PM
Join Date: Jun 2009
This differs from city to city. For example, in Mumbai-Thane the norm is the landlord pays the broker 1 month rental, and the renter pays 1 month rental. In Pune, Landlord pays 0, and renter bears 2 months rental.
Similarly for selling, the brokers charge 2% in Pune/Mumbai, can be bargained till 1%. In Noida, I read that brokerage can even be 0.5% or 0.25%.
Some brokers even charge brokerage on renewals, which is too much. So at each yearly annual, broker will come to your home to collect 15 days/1 month rental. This is true for Kalyani Nagar, one of my colleague does the same for past 3-4 years. If he doesn't do it, the broker will tell the owner that the rent will now increase or the renter is bad etc, and will force him to vacate. So before renting, please be clear on this part that you will not pay any money for any renewal.
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