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 Property Agent role, What else can I engage them for?

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TSknwong
post Nov 15 2015, 01:05 PM, updated 10y ago

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So the agent that sold me the apartment has been very helpful all this while.

2 years ago she sold me the apartment on behalf of the previous owner at slightly lower market rate.
2 months after that she helped me to rent it out to a pilot - albeit at lower rental rate.

This year she manage to find another tenant, foreigner businesswoman at slightly higher rental rate.

For both tenancy she's getting 1 month rental as the agent fee (quite a lot in my opinion but that's the market rate as I was informed)

Now this new tenant choose to pay by cash every month. Can I engage the agent to help collect my monthly rental since she already being paid 1 month agent fee upfront?
Zavia/GenX
post Jan 21 2016, 04:56 PM

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Yes, there are such services. They usually take a % every time or something. Property management or other its called.
Collecting monthly rental is separate from getting you a tenant and the stuff associated with it.
If cash i would rather not have rented to them. Susah.
TSknwong
post Jan 21 2016, 09:14 PM

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Wasn't aware that the tenant will pay by cash before they sign the contract.

For time being I don't feel the hassle because the tenant deal the rent payment directly with my agent and she happily oblige even though I told her she doesn't have to
shaniandras2787
post Jan 22 2016, 08:44 AM

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Don't be touched by her actions. She's just doing her job. It's like you going over to a restaurant and ordering a plate of noodles and then you are served. Remember that she's getting paid.

For tenancy secured by real estate agents, 1 month rental being their commission is the current market practice.

To be honest, though she has been helpful all these while, I just wouldn't trust anyone with cash money, especially when it's my money. Plus, you NEED to go over to your property once a while to make sure your property is not thrashed.

Don't be lazy unless you are demographically challenged OR your purpose is to see her once every month =D
TSknwong
post Jan 22 2016, 10:01 AM

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I known my agent for 3 years already. She too own 2 studio units in the same apartment. She also hold the secretary role of the Management Committee there. Hence my trust.

Between my agent and the tenant, I am more worried about the tenant since never met in person. I only seen her face from the copy of her passport (a foreigner). But so far so good, she has been a good payer. Always pay either early or on time.

Just whatsapp my agent, she told me whenever she went to collect rent she will go into my apartment. It's well kept. Most of the time only the tenant and her baby are around. Husband only comes during the weekend




VOOSH
post Apr 16 2016, 05:51 AM

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Collecting rent will be just part and parcel of managing a property. Other areas may include maintenance or repairs or other sorts. I currently do help owners to manage/upkeep/maintain their properties. Between owner and me, we are bonded under an agreement hence the added security for both parties. If interested to know more can PM me as to avoid being banned by forum for advertising.

This post has been edited by VOOSH: Apr 16 2016, 05:53 AM
forever1979
post Apr 17 2016, 02:41 PM

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i though now rental is all internal banking or bank in via machine. all is hassle free

no need to engage agent as it would not come with free.
nookie188
post Apr 17 2016, 03:00 PM

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QUOTE(knwong @ Jan 22 2016, 10:01 AM)
I known my agent for 3 years already. She too own 2 studio units in the same apartment. She also hold the secretary role of the Management Committee there. Hence my trust.

Between my agent and the tenant, I am more worried about the tenant since never met in person. I only seen her face from the copy of her passport (a foreigner). But so far so good, she has been a good payer. Always pay either early or on time.

Just whatsapp my agent, she told me whenever she went to collect rent she will go into my apartment. It's well kept. Most of the time only the tenant and her baby are around. Husband only comes during the weekend
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well you are really fortunate you have a trusted agent - from what you have written, and if I were you, I wont worry too much about it really though you have not met the tenant...

you just need to act fast if there is any whiff of a problem..that is all..
TSknwong
post Apr 17 2016, 05:27 PM

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QUOTE(forever1979 @ Apr 17 2016, 02:41 PM)
i though now rental is all internal banking or bank in via machine. all is hassle free

no need to engage agent as it would not come with free.
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Can't complain when the tenant want to shove you with cash. Good tenant very hard to get. Heard from other relatives, they started to have uncollected rentals
SUSdestiny6
post Apr 21 2016, 11:09 PM

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the property agent should also help chase for the rental if the tenant didn't pay your rent and follow up if necessary

 

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