No we have a long way to go. I remember the 2004/2005 recession - we are aways away from that.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.
Will you be deleting your messages again once you have the information you need?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.
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