What does a rental agency cost?

Renting out your property through a rental agent saves you a lot of time and effort. You hand over a lot of tasks, such as taking photos, creating and placing the advertisement on various online platforms, arranging viewings, drafting the rental agreement, and facilitating the key handover; You are almost entirely relieved of these responsibilities. Of course, there are costs involved. But what does a rental agent actually cost?

COSTS FOR MEDIATION

For mediation, rental agents charge a commission fee. This is simply a one-time fee for finding a suitable tenant for your property. This commission fee typically amounts to one month's rent (excluding VAT).

For example, if you rent out your property for €1,400 and the broker's commission is one month's rent, you would pay €1,400 excluding VAT for brokerage services.

COSTS FOR PROPERTY MANAGEMENT

Many rental agents not only assist in finding a suitable tenant but also offer to manage the property for you. Management is usually divided into financial and technical management. Financial management involves all financial tasks related to property management, such as collecting monthly rent, indexing the rent, making settlements for the service costs, providing financial statements, and sending payment reminders if necessary. Technical management involves handling technical issues and emergencies, often utilizing a team of in-house handymen. The total management costs (financial + technical) vary depending on the provider but are typically around 8% of the monthly rent. For example, if your property is rented out for €1,400, you would pay €112 excluding VAT monthly for management.

WHAT IS THE TOTAL COST OF A RENTAL AGENCY?

If you opt for both mediation and property management services, with an average rental agent, based on a monthly rent of €1,400, you would pay approximately €2,744 excluding VAT annually (€1,400 + (€112 x 12)).

CAN IT BE CHEAPER?

Certainly! In the same scenario, Extate Housing offers the mediation completely free of charge! For total property management, we charge a monthly fee of only 6% (which equals €84 excluding VAT), saving you approximately €1,736 annually!

For mediation without management, we charge a one-time fee of 65% of the rent. If the rent exceeds €1.500, we charge a one-time fee of 85%.
 

MEDIATION FROM EXTATE HOUSING INCLUDES:

• Taking the photos for the advertisement of the property;
• Creating the advertisement and publishing it on multiple platforms, including the Extate Housing website, Pararius, huurwoningen.nl, social media (Facebook, Instagram etc.);
• Scheduling and conducting viewings;
• Screening the invited candidates;
• Introducing all interested candidates (after the viewing) to the landlord;
• Thoroughly screening all documents of the selected candidate (ID/passport, signed employment contract, payslips, bank statements, employer’s statements etc.);
• Drafting the rental agreement;
• Scheduling and conducting the key handover;
• Making the initial inspection report consisting of 500 – 1500 photos of the property.

FINANCIAL MANAGEMENT FROM EXTATE HOUSING INCLUDES:

• Monthly invoicing and collection of the rent, which is always transferred to the owner on the 5th working day of each month;
• Preparing monthly settlements;
• Monitoring payments and rental arrears;
• Sending payment reminders and, if necessary, contacting a collection agency;
• Managing and ultimately settling the security deposit;
• Annual indexing of the rent;
• Preparing settlements for the costs of gas/water/electricity and/or heating costs.

TECHNICAL MANAGEMENT FROM EXTATE HOUSING INCLUDES:

• Conducting interim inspections after the rental (the first one after 3 months);
• Conducting initial and final inspections;
• Serving as the point of contact for tenants regarding complaints, technical malfunctions and emergencies and handling them;
• Fast and properly handling issues with our own technical department for competitive prices;
  We immediately handle jobs until €100, we always ask your permission first for jobs above this amount.
• Managing the keys;
• Timely informing tenants about planned maintenance work;
• Checking completed work and providing feedback to the tenant and landlord;
• Requesting quotations and verifying received invoices;
• Processing rental terminations;
• Supervising the rented property(ies).

You are welcome to contact us and schedule a completely free and non-binding appointment at your property to discuss our services, the rental process, our prices and to provide you with a rental price estimation!