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renting tips?

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lagimoana
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renting tips?

Postby lagimoana » Tue, 04 Apr 2017 10:12 am

I have been told a few different things:

- it is a renter's market
- the price is negotiable
- one month's rent for deposit, then one month in advance
- landlords expect you to have air conditioners serviced and blinds/curtains cleaned every three months at your own expense
- get a single rental agent, tell them what you want, and then let them show you around
- don't rent further than a 2 minute walk from the MRT. 15 minutes may not seem like a lot, but in the heat, it really is.

I just have a few questions, because this is different to Sydney.

- how negotiable is the rent price? If they list it at $5300 can I expect to get them down to $4800? Or is the difference usually no more than $200? Does it vary between agents and landlords?
- if it is a renter's market, should I request that the landlord covers the cost of the air conditioners and blinds/curtains? (we are landlords here and would cover these costs ourselves).
- do people really stick with just one agent?

brian_singapore
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Re: renting tips?

Postby brian_singapore » Tue, 04 Apr 2017 10:53 am

Hi,

Cleaning curtains and blinds is usually at the end of the lease, if required, not every 3 months. Aircon is every 3 months and you will need to produce invoices to prove it's been done.

I don't think cleaning the curtains and blinds was something I've had to 2 in the 2 properties I've rented.

If you look on your own; i.e. start calling listings on websites, you don't need to stick with one agent. However if you ask an agent to look for you, you need to sign an exclusivity agreement. They are doing work on your behalf and expect compensation in the form of half a months rent from the landlord for their efforts. The agreement is usually time-boxed. So if they aren't able to find a suitable place in a reasonable time you can try a different agent.

In my experience, there is really no need for your own agent unless you need them to act as a chauffeur. They do provide a bit of added security in that they will handle problems (or should, some will piss off after getting their com) if any with the other agent and landlord.

Rental negotiation is easier now, but will depend on how realistic the landlord is. If the landlord has realistically listed their property you probable won't find they move by more then a couple of hundred dollars. If the landlords asking price is out of whack with rental history for the area / units, you may be able to negotiate more. But if they are that out of touch, they may also have their head in the sand and thing its better to leave the unit empty then rent it below their target price.

The tenant who took over my lease when I moved in Q4 last year managed to negotiate a 1200 dollar discount on my rent. My co-workers have reported similar drops in rent on lease renewal and prices in general have been falling hard and fast.

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Max Headroom
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Re: renting tips?

Postby Max Headroom » Wed, 05 Apr 2017 7:58 am

Yesterday's paper said that mortgage sales are through the roof, up 200+%! A lot of owners bit off more than they can chew back in 2010 and are now in dire straits. Sentiment is just shy from "Panic Stations".

It may one day change back to a landlords' market sure, but for now my advice is the take it or shake it approach.

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Re: renting tips?

Postby PNGMK » Wed, 05 Apr 2017 9:04 am

Max Headroom wrote:Yesterday's paper said that mortgage sales are through the roof, up 200+%! A lot of owners bit off more than they can chew back in 2010 and are now in dire straits. Sentiment is just shy from "Panic Stations".

It may one day change back to a landlords' market sure, but for now my advice is the take it or shake it approach.


No we have a long way to go. I remember the 2004/2005 recession - we are aways away from that.
I have gay, black, Asian friends and then JR8.

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Re: renting tips?

Postby PNGMK » Wed, 05 Apr 2017 9:13 am

I have gay, black, Asian friends and then JR8.

lagimoana
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Re: renting tips?

Postby lagimoana » Fri, 07 Apr 2017 9:36 pm

Thanks guys.

My husband is working at Changi Business Park, but I prefer the look of the west. Is commuting west-east on the MRT (green line) common, or do people tend to live in the east, if they work in the east?

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American
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Re: renting tips?

Postby American » Tue, 11 Apr 2017 11:25 am

I have been told a few different things:

- it is a renter's market
- the price is negotiable
- one month's rent for deposit, then one month in advance
- landlords expect you to have air conditioners serviced and blinds/curtains cleaned every three months at your own expense
- get a single rental agent, tell them what you want, and then let them show you around
- don't rent further than a 2 minute walk from the MRT. 15 minutes may not seem like a lot, but in the heat, it really is.

I just have a few questions, because this is different to Sydney.

- how negotiable is the rent price? If they list it at $5300 can I expect to get them down to $4800? Or is the difference usually no more than $200? Does it vary between agents and landlords?
> Rent Price is very negotiable. Do not be afraid to offer low and negotiate up. It is definitely a renters market. Vacancies seem to be at a very high rate right now. If they list for 5300, expect to pay 4500, and negotiate lower. Also it really depends on the owners. Some owners are firm, some price high expecting to be bargained down. Go with mature long-term (older) owners who bought low in the 90's early 2000's.

- if it is a renter's market, should I request that the landlord covers the cost of the air conditioners and blinds/curtains? (we are landlords here and would cover these costs ourselves).
> This seems tough, I haven't tried. However, what you can do is negotiate down the rent based on the cost of A/C and blind/curtain cleaning (roughly 700/yr).

- do people really stick with just one agent?
> Yes, it is more convenient. All the listings are public knowledge. As long as you find an agent that knows how to search, and has a good reputation in the market and will go to bat for you when negotiating - stick with one.

lagimoana
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Re: renting tips?

Postby lagimoana » Tue, 11 Apr 2017 12:52 pm

Thanks very much for this advice!! Super super helpful. :D

brian_singapore
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Re: renting tips?

Postby brian_singapore » Wed, 12 Apr 2017 11:10 am

A colleague as able to negotiate 1 month free rent in lieu of a rent reduction.

Our assumption is the landlord didn't want to have a lower rent published that may influence other rentals.

Also threw in aircon maintenance and curtain cleaning.

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Re: renting tips?

Postby Barnsley » Wed, 12 Apr 2017 12:58 pm

American wrote:I have been told a few different things:

- it is a renter's market
- the price is negotiable
- one month's rent for deposit, then one month in advance
- landlords expect you to have air conditioners serviced and blinds/curtains cleaned every three months at your own expense
- get a single rental agent, tell them what you want, and then let them show you around
- don't rent further than a 2 minute walk from the MRT. 15 minutes may not seem like a lot, but in the heat, it really is.

I just have a few questions, because this is different to Sydney.

- how negotiable is the rent price? If they list it at $5300 can I expect to get them down to $4800? Or is the difference usually no more than $200? Does it vary between agents and landlords?
> Rent Price is very negotiable. Do not be afraid to offer low and negotiate up. It is definitely a renters market. Vacancies seem to be at a very high rate right now. If they list for 5300, expect to pay 4500, and negotiate lower. Also it really depends on the owners. Some owners are firm, some price high expecting to be bargained down. Go with mature long-term (older) owners who bought low in the 90's early 2000's.

- if it is a renter's market, should I request that the landlord covers the cost of the air conditioners and blinds/curtains? (we are landlords here and would cover these costs ourselves).
> This seems tough, I haven't tried. However, what you can do is negotiate down the rent based on the cost of A/C and blind/curtain cleaning (roughly 700/yr).

- do people really stick with just one agent?
> Yes, it is more convenient. All the listings are public knowledge. As long as you find an agent that knows how to search, and has a good reputation in the market and will go to bat for you when negotiating - stick with one.


Will you be deleting your messages again once you have the information you need?
Life is short, paddle harder!!

lagimoana
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Re: renting tips?

Postby lagimoana » Fri, 14 Apr 2017 10:43 am

I'm not sure what you mean...


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