Glossary of Terms

Agency Commission
This is the fee charged by all agencies for the services of their consultants. The fee is payable on any premises leased, purchased or introduced to you by your agent. For rental the standard agency commission is 50% of one month's rental and is payable upon signing the Formal Tenancy Agreement. For sale and purchase the standard commission is 1% of the purchase price and is payable upon signing the Formal Agreement for Sale and Purchase.

Air-conditioning can be centrally installed and controllable in each room (known as "Central Air-Conditioning"), or provided by individual units. Individual units may be "split-type" (usually remote controlled) or "window-type" (usually manually controlled) .

As-is Condition
The purchase or rent of a property in its existing condition without repairs.

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