I would like to know if anybody made any claim on landlord insurance through a real estate agent. What is the average fee that agent suppose to charge?
I had my landlord insurance claim with one of my property in Western Sydney with one of the agent charginging me at the normal management fees 5%, $5000 claimed paying agent of $250. As it dit not state in the management contract, I think this agent is overcharging me. I also had other agent managing other property charging $50 fix fees for landlord insurance claim.
The other thing I would like to know as well is Are they ( real estate agent) entitle to charge % fees on claimable fund, since the claim fund is not part of the collectable rent from the tenant? If we are landlord not paying the insurance obviously the rent default would be lost.
Thanks
Lsreng
The answer to your question is yes, no and maybe.
If the insurance claim is for loss of rent, then the agent would be entitled to charge their % + gst, if it were for damage then they may only get whatever has been agreed in the management agreement for other charges (eg management of make good etc).
Not sure what you are asking in the third paragraph but I assume that you mean does the agent charge % on the bond when there is a claim, as above they would be entitled to be paid on the bond if it were applied to loss of rent.
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