Commission.
It’s a fee paid for enabling contact or a service. That’s how I understand it. I’m not against it, but at times, can’t understand the value demanded by those who live off it.
Prime examples of commission proving to be a pain in the seat is when house hunting. And I’ve felt this pain many times over the last few years. None more so than in 2007 when I moved into my current rented accommodation in Pune. I’d paid commission in Mumbai and Bangalore previously where the norm was one month’s rent by the tenant and one month’s rent by the landlord (or so I believe… I couldn’t know for sure since I was always the tenant). In any case, I had never paid more than 30 days’ equivalent of rent to a broker/agent.
In Pune, though, landlords are truly lords. They don’t pay commission. The tenant needs to pay for two months’ equivalent. And there is really no scope for negotiation. 45 days? Bah. 50? Get out. 60 days’ minimum. Continue reading »
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