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Brokerage for residential property and commercial property is different

Discussion in 'Real Estate Brokers' started by Jidnyasa Sardesai, Jul 7, 2018.

  1. Jidnyasa Sardesai New Member

    A standard brokerage of 1% for re-sale properties is charged to both the parties and the rental brokerage of 1 to 3 months would be the same. However, it is very rare for someone to enter into a residential lease for a lock in period that would generate a brokerage payment of more than one month’s rent whereas for commercial leases, it can stretch beyond ten years. In Mumbai the rental rates are for below 3 years – one month’s brokerage, for less than 5 years – two month’s brokerage and for over 5 years – 3 months brokerage. Hope this helps everyone looking housing or office space on rent.

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