LANDED PROPERTY

PROFESSION FEE GUIDELINE

 

Introduction

 

  • The remuneration system is based on the provision of service and / or upon successful transaction.
  • This document stipulates the professional fee is based on standard services rendered on property transactions.
  • This scale of professional fee is not intended to restrict or interfere with any private arrangements with their clients.
  • Agreements and undertakings in all transactions shall be made between clients and Professional.
  • Document/communicate at the outset, their agreement on commission, costs and disbursements. The documentation/communication shall also include the scope of works, duties and undertakings by Professional.

Interpretation

In this document, “Professional fee” means all forms of remuneration including commission, Brokerage fee, finder’s fee, service fee, disbursements or any other sum payable by clients to The Profession; “Gross rental” means total monthly rental (including rental of furniture, maintenance charge and sinking fund, where applicable); “HDB” means the Housing and Development Board constituted under the Housing and Development Act (Cap 129); “HUDC flats” means flats in the housing estates known as HUDC housing estates which maintenance and management are not under the Housing and Development Board (HUDC Housing Estates Act – Cap 131);

 

Professional Fee

  1. All Sale and Purchase of Property in Singapore
  2. Leasing of Property in Singapore (Including HDB Resale Flats and Non-Privatized HUDC Flats, Commercial and Industrial Properties)
  3. Assignment (All types of properties)
  4. Management (All types of properties)

 

I. All Sale and Purchase of Property in Singapore(Including HDB Resale Flats, Non-Privatized HUDC Flats, Commercial and Industrial Properties)

Party Professional Fee Commission Payable to Professional
Seller Minimum two percent (2%) or Up to a maximum of four percent (4%) of contracted price as sales commission.
Purchaser Minimum One percent (1%) or Up to 2% of contracted price as Service fee (if the Professional is the appointed representative).

Profession Fee shall become due immediately upon completion of sale and purchase or as otherwise agreed between the parties.

 

II. Leasing of Property in Singapore (Including HDB, Non-Privatized HUDC Flats, Commercial and Industrial Properties)

Party Type of Lease Duration of Lease Professional Fee
Landlord or Tenant Room Rental or Partial Unit 24 Months or Less Every subsequent 12 months or less Renewal of Lease for every 12 months lease $500 or One (1) month’s rent whichever is higher Additional $300 or Half (1/2) month’s rent whichever is higher $300 or Half (1/2) month’s rent whichever is higher
Whole Unit 24 Months or Less Every subsequent 12 months or less Renewal of Lease for every 12 months lease $1500 or One (1) month’s rent whichever is higher Additional $1000 or Half (1/2) month’s rent whichever is higher $1000 or Half (1/2) month’s rent whichever is higher

Profession Fee shall become due immediately upon execution of the tenancy agreement by Landlord and Tenant.

 

III. Assignment (All types of properties)

Party Professional Fee Payable to Professional
Assignor (party giving up) Min $3,000 or 10% Assignment Fee – whichever is higher.
Assignee (party taking over) Min $3,000 or one (1) of a month’s gross rental-whichever is higher.

Profession Fee shall become due immediately upon execution of the assignment agreement.

IV. Management (All types of properties)

Basis of Management Professional Fee Payable to Professional
For Individual Unit $200 or Ten percent (10%) of gross monthly rental whichever is higher.
For Management Corporations under the Land Title (Strata) Act (Cap 158) By negotiation with Professional

Profession Fee is due to Company monthly in advance upon receipt of rental from Tenant. For Management Corporations, Professional Fee payable would generally be on an accrued basis. The Company may, by prior agreement with client, claim disbursements for expenses such as long distance phone calls (in the case of overseas client), postage and stationery, transport costs, etc.

Goods and Service Charge (GST)

All Professional Fee payable are subject to GST in accordance to the Goods and Service Tax Act
ContactUs.com