The conversation between human and AI assistant.
Are house brokers in Mumbai legally allowed to charge brokerage from the landlord and / or the tenant for a rented property every year the agreement is renewed?
That's good to know. Is there a specific rate that brokers are allowed to charge as brokerage for rental properties?
As per the Real Estate (Regulation and Development) Act, 2016, brokers can charge up to two percent of the total annual rent as brokerage. However, this can vary depending on the agreement with the landlord or tenant.