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Tenant fees: everything you need to know?

Dec 22, 2023

Zerodip
Zerodip

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Tenant fees: everything you need to know?

When renting your home, it's important to know the extra fees you are likely to be charged. This can help you save up before going on the market for a rental. We have generated a list of extra fees you are most likely to be charged when renting a home.

 

1. Agent's Commission:

Real estate agents charge 10% of the rental value for property search, viewings, and rent negotiations. A person who is in charge of the house might be called a "agent" if they do any of the things that people usually expect from an estate agent.

2. Lawyer's Fee:

The lawyer is responsible for creating the rental contract between A, who is the landlord, and B, who is you. Consequently, they have the right to receive 10% of the rent amount. Remember to carefully review all details before consenting to and signing any terms in the contract. It is legally binding once signed.

 

3. Caution Fees:

This is more like a security deposit that secures the landlord against negligence that may lead to damage to his property while it's in your possession.

There is no standard figure for what the caution fee must be. It is totally up to the landlord to set a figure.

The fee is refundable and is returned at the end of your rental tenure.

 

4. Service Charge:

Your landlord may require you to pay a service charge. This fee includes various services such as waste management agreements with third-party firms, security, water pumping, borehole system upkeep, and premises cleaning. Find out all the charges you are expected to pay and keep up with how they are implemented. You do not want to pay for water, and there's no water.

 

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DISCLAIMER

We try to make sure that the information here is accurate at the time of publishing. But the property market moves fast and some information may now be out of date. Zerodip accepts no responsibility or liability for any decisions you make based on the information provided. Graphics and images used here are for information purposes - we do not have ownership right over them.

Tenant fees: everything you need to know?

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