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Old 05-07-2008, 09:39 PM
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Question Success Fee?
Hello,

We are looking at homes in picton ready for our move ( rental) and some of the adverts say ''Success Fee Applies''...

What is a success fee? and any idea how much it is likely to be?

(The house is a 2 bed in Picton)

Thanks,

Bex
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Old 06-07-2008, 02:39 AM
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I had a good hunt around the property agents' websites and through their glossaries of terms but couldn't find 'Success fee' mentioned anywhere other than in the ads for houses, which is strange. Let's hope someone else has come across this and knows what it is and how much it's likely to be.
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Old 06-07-2008, 03:43 AM
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I think a success fee is a commission from a broker or sales company for acquiring th renters.

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Old 06-07-2008, 05:25 AM
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I wonder who has to pay it though, what percentage it is or whether it's a fixed fee. It all seems very mysterious .
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Old 06-07-2008, 07:38 AM
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It would appear to be the renter or they would not mention it. But I don't know.

Cheers

Cliff
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Old 06-07-2008, 10:15 AM
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When we were looking at rentals there were some that mentioned a fee.
It seemed to be a weeks rent plus GST for most we saw.
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Old 06-07-2008, 10:52 AM
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i m not exactly sure either, but there is also a letting fee which is usually 1week rent plus GST that you have to pay.. it might be the same thing
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Old 06-07-2008, 07:59 PM
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Ah thanks very much guys, very hepful but what is GST?

Sorry! And Thanks very much xxx
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Old 06-07-2008, 08:16 PM
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Default ha ha the old gst
gst is the equivelent of vat , it stands at 12 and a half % the success fee ithink is the equivelent of 1weeks rent you pay to the agent for the property.
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Old 07-07-2008, 03:11 AM
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Ah thanks very much!!

One down, 800 million more questions to go!!!
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