Post Question
Home / Rent and Lease / Tenant / What is the going broker fees? Is it one month?
Q.

What is the going broker fees? Is it one month?

Comment

7
Answers

Tenant
2 2020-08-09T10:55:48+00:00
⤺ Reply
In Rentals market, brokers usually charge anywhere from half a months rent to 2 months rent as brokerage depending on how urgently you need to rent a place and how good are your negotiating skills. The Brokers usually charge 1 months rent as brokerage from the tenant as well as from the owner. But you can always negotiate. Do ask for the brokerage fees in advance and negotiate well. There are no norms or laws in India for broker fees. In buyers market, the brokers usually charge 1% to 2% of the cost of the property as brokerage fees. But that is negotiable as well depending on the actual cost of the property.
4 2021-05-31T20:43:12+00:00
⤺ Reply
If you are looking for a house on rent  in any big city you need to hire a broker. The broker will help you shortlist your house as per your requirements. And when the deal is fixed you find the perfect house. Then  in return you have to pay broker charges for house rent payment. 
  •  Brokers charge  half a month's rent to 2 months rent.
  • The Brokers usually charge 1 months rent as brokerage from both the parties tenant and the house owner.
  • Do ask for the brokerage fees in advance and negotiate well. 
  • Earlier there were no norms for brokers in India but now as per Economic Times Report only a certified broker can secure a job as a broker. 
  • The government of India made its certificate and training to become a broker mandatory to reduce the frauds in the market.
You can get flats, builder floors , residential flats, Villas for rent on NoBroker without paying brokerage. Find best property on your location for rent on NoBroker without paying brokerage
18 2022-02-02T10:34:52+00:00
⤺ Reply
Hi there, I have rented a flat in Mumbai recently and I can help you know rental brokerage fee trends. The thing is brokers have several duties to perform. Earlier when I used to approach the broker, he would ask me about my preferences in terms of location and flat type, neighbourhood, etc. He would then start sending me photographs and locations of flats which matched that profile.  This time, before entering into the arrangement, I asked the broker about brokerage charges for rent in Mumbai. To my surprise, he said that market trends say 3 months’ rent. This is absurd in my experience. I have lived in Bangalore too for a couple of years. Brokerage charges for rent in Bangalore were usually 1 or 2 months’ rent (maximum). Anyway, I thought to myself why was I paying the rental brokerage fee anyway when I can go online and search for a property myself. So I started with my research on various platforms. Thankfully, I came across NoBroker. I registered myself and started browsing through the properties. I shortlisted 3 which interested me and as soon as I hit the heart button, I got a call from the owner of that property. I enquired a bit and decided to see the property in person.  Finally, when I visited the property I was quite satisfied and we started with the rent negotiation part. Trust me, it was a difficult part. We finally agreed to the amount and I reminded the owner that I would give 2 months’ rent as security deposit as per the Model Tenancy Act.  The whole point of this experience was to make you realize that you don’t actually need a broker. Things have become very simple and you can find a property on your own. Thus, you won’t have to worry about the rental brokerage fee. Nonetheless, the answer to your query would be 1 month or 2 months’ rent. Nothing more than that is normal. Find properties for rent online without paying any brokerage fees Need help with rent negotiations and other formalities, contact NoBroker experts
3 2022-12-16T10:13:04+00:00
⤺ Reply
We all need help sometimes from a broker to rent an apartment. Because they help you with every step of the process, from looking for housing to finalising the contract. A fee known as a brokerage fee is imposed by the broker. I have been to several cities in my corporate career. So I have listed down the rental charges in various cities. So let me tell you about the NoBroker charges and how much is broker fee for rental apartment in general. Save your brokerage amount by finding flats on NoBroker.

What is the NoBroker broker commission for rental?

From what I know, NoBroker doesn’t charge any brokerage fees if you want to sell, buy or rent a flat or house. That is why I prefer it the most as it offers a wide range of options to choose from and that too with affordable pricing. This tells you how much is broker fee for rental.

What is the brokerage fee for rental in various cities?

1) When you rent an apartment for a year in Pune, the broker receives one month's rent from both the renter and the landlord. If the house is rented for 2-3 years, the broker will impose fees comparable to 45 days or 2 months' worth of rent. 2) 1 month's rent is charged by both the landlord and the agent in Chennai for their assistance in finding a renter for an apartment. 3) Both participants in Kolkata are required to pay the charges for 1 month's rent as broker fees. 4) Broker fees in Mumbai are equal to 1 month's rent for leases shorter than 3 years. 2 months' rent is collected for rentals lasting 3 years or less, while 3 months' rent is applied for rentals lasting 5 years or more. The owner and the tenant are both responsible for the charge. 5) Both the landlord and the tenant are required to pay 1 month's rent in Delhi. I hope you understood what are the NoBroker charges for brokerage. Read More: Is there any regulation on brokerage on property deals? What is a no-brokerage relationship?
3 2023-02-03T11:54:06+00:00
⤺ Reply
The compensation given to the real estate agent once the home is actually rented is known as broker fees or commission. Real estate advisers are frequently compensated by commission, which is a sum of the rent for months. It can vary from place to place. So let’s understand brokerage for house rent in detail here. Save your brokerage by opting for NoBroker tenant plans. Search brokerage-free properties on NoBroker in your city here.

How much do rental brokers charge?

Real estate agents typically receive a commission from both the tenant and the landlord in most locations. The brokerage charge is typically equal to one month's worth of property rent. But it is negotiable to a 15-day rent. One can negotiate a better bargain with the broker and make some savings with a little bit of knowledge. The broker fees for rentals of houses in Bangalore are about 2 to 3%. So you can expect to spend around one month's rent as a brokerage for house rental fees while renting a house or flat.

Who pays the broker fee when renting?

Both and either of the two is true in certain situations. Demand, supply, and previous norms all have a role. For example, owners don't pay any brokerage in the majority of the Mumbai neighbourhoods, but in neighbourhoods like Powai, owners do.

What points to keep in mind while dealing with a broker?

The following are the crucial points when dealing with a rental broker:
  • Do some research on the local real estate market.
  • Evaluate the market conditions; if there are more rental homes available, you may be able to negotiate a favourable price.
  • Check to see if the flat you are renting is in good shape.
  • Verify the brokerage fees with nearby brokers and skillfully bargain.
  • Look into the services the broker is providing and match them with those provided by other brokers in the area.
I hope you understood how much is brokerage for house rent. Read More: Is there any regulation for brokerage on property deals? What is a real estate broker commission?
3 2023-02-14T14:56:14+00:00
⤺ Reply
If your monthly rent is high, and you have good negotiation skills, brokers can be convinced at 15 days rent as brokerage as well.. but even that hurts.
5 2023-08-25T20:31:52+00:00
⤺ Reply
When discussing, what is brokerage in rent, I’d like to say that it refers to the fee a real estate agent or broker charges to facilitate the rental transaction between the landlord and the renter.

What is broker fee on rental?

In essence, it's a commission given to the broker in exchange for their assistance in finding a suitable rental property, which may involve property showings, negotiations, paperwork, and other services. 

How much is rental broker fee?

In India, the standard rental broker fee is one month's rent. However, it is variable, and depending on the setting and the details of the lease, it may be lower or higher. Though it can be split between the renter and the landlord, the broker fee is often paid by the tenant. In India, the following variables may have an impact on the rental broker fee:
  • The location: 
In comparison to rural areas, the rental broker charge is often higher in urban areas.
  • The kind of property: 
Apartments often have a larger broker fee than houses.
  • The length of the lease: 
For shorter leases than for longer leases, the rental broker charge is usually less.
  • The terms of the lease: 
If the tenant is ready to pay a higher rent or if the landlord is willing to make additional concessions, the rental broker charge can be reduced. Before you sign a lease, it's crucial to bargain the rental broker charge.  After understanding what is brokerage in rent, I’d also like to highlight that to avoid any kind of hefty brokerage fees, you can buy/ sell/ rent properties using NoBroker. It is a brokerage-free platform.  Draft a rent agreement. Check out NoBroker Rent Agreement Services  Read More: How does the Leave and License Agreement compare with the Rental-Agreement in India? Do I have to go to the government registration office for the rent agreement? What is the minimum cost for making a rent agreement in Mumbai?

Leave an answer

You must login or register to add a new answer .

Related Questions

Can a Bank Evict a Tenant?
What do Tenants Look for in a Rental Property?
What's the Difference Between Joint Tenants and Tenants in Common?
How can I Rent Property in Lucknow?
Does Landlord Insurance Cover Water Damage?

Recently Published Questions

What is deemed to be let out property?Which is the Best Rental Property App?Who is Responsible for Building Insurance Landlord or Tenant?Is Landlord Insurance Compulsory in India?Can Police Evict a Tenant?Is Landlord Responsible for Damage to Tenant Property?Can a Landlord Give Out Tenant Information?What is Rental Yield in Mumbai?Who is lessor and lessee?Can I post a flat for rent in Agra City on NoBroker?

Most Viewed Questions

What is deemed to be let out property?How to use vacant land to make money in India?what is heavy depositHow to delete the property posted for rent on NoBroker?How to terminate lease agreement early?I am unable to get free 9 contactपीजी रूम क्या होता है?How to get government land on lease in Karnataka ?मकान मालिक को किराया किस दिन देना चाहिए?I'm not able to get free owner contacts
Flat 25% off on Home Painting
Flat 25% on Painting | Top Quality Paints | Professional Tools | Verified Partners
X
Home Cleaning Starting ₹359 Only
Revive Your Space with Expert Cleaning!
X
Enjoy hassle-free on time movement of your household goods.
X
Buy Your Dream Home with NoBroker.com & Enjoy Exclusive Benefits on Home Loan & Interior Services
X
Fastest Sanction in 7 Days from 15+ Banks | Max Funding | No Hidden Charges
X
Get upto ₹10 Lacs Instantly in your bank account | Instant Disbursal |
X