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Letting agents Cyprus - How do they make money?

Posted by Soulman-696414 - Created: 9 years ago
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Posted by Soulman-696414 - 9 years ago

Aha, thanks made me a whole lot cleverer :) I guess the one we used was extraordinary nice, which she also was.

Thanks for the info :)

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Posted by lab-682530 - 9 years ago

hi soulman

if you successfully rent a property through this letting agent, the norm is the agent is paid by the Landlord the equivalent of one months rental. this is how letting agents make their money, you the client are not charged anything from the letting agent, it is all paid by the landlord of the property.

you don't normally hear of the agents taking you out for dinner though maybe a coffee whilst out and about !! the letting agent will ask from you, the tenant, upon signing of a tenancy agreement, one months rental and a deposit (normally equivalent of one months rental), the agent then holds back for their commission the rental and passes the deposit to the landlord for them to retain or sometimes the agent (if also a management company) holds on to the deposit for the landlord.

hope this helps.