Monday, April 16, 2018

RENTAL FEES/COMMISSION - Board of valuers seventh schedule rule 48

Estate Agency

1. Sale or Purchase
  1. Land and Buildings (Maximum fee of 3%)
  2. Fees for other services such as joint venture, sale of company, property swaps, etc. (Maximum fee of 3%)
  3. Chattels including Plant and Machinery (10 % of the proceeds)
Minimum fee : As above, subject to a minimum fee shall be RM1,000 per property.
The above scale applies to any sale or purchase by way of private treaty, tender or any other mode of disposal or acquisition.
For Sale and Marketing of projects by registered estate agents, the fees are to be agreed between the estate agent and the client.
The above scale of fees shall not apply to the sale of foreign properties in Malaysia or sale of Malaysian properties in foreign countries.
2. Lettings
Duration of TenancyMaximum (Fee equivalent too)
Up to 3 years1.25 months gross rental
Exceeding 3 years up to 4 years1.50 months gross rental
Exceeding 4 years up to 5 years1.75 months gross rental
Exceeding 5 years1.75 months gross rental
Exceeding 5 years
(without option for renewal)
1.75 months gross rental
Exceeding 5 years
(with option for renewal)
1.75 months gross rental plus 0.25 months rental for every additional year

Minimum fee : As above subject to a minimum fee of 1 month rental.
For tenancies less than one year, the fee may be calculated on a pro rata basis. The above scale shall not apply to serviced offices or apartments or any other premises of a similar nature.
3. Rent Reviews - 50 % of the fees chargeable under lettings

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