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Last updated: 17 Oct 2000
research report supported by Asiahomes Internet
Asia USA Realty (Singapore) asiahomes.com Pte
Case Study: Landlords, foreign cheque payment for good faith deposit.
Oct 17 00:
4+1 3638 sq. ft
Carpeted bedrooms, marble floored living & dining.
||23 Newton Road. Completed:
1984. 28 units.
2-bedroom: 1200 sq. ft
4-bedroom: 3121 or 3678 sq. ft
3 units per floor.
Living/dining - marble tiles; bedrooms carpeted unless remodeled to wood strips. Built-in
wardrobes, kitchen cabinet. Central air conditioning system replaced by split units.
Renovated units may have no balconies. Some have semi-circular ones.
Swimming pool, playground, covered car park, barbecue area, 24-hour security.
Occupancy Rate: Almost 100% as condo is popular with
Americans who want space and is within a 5-minute walk to the Newton subway.
Competitors: Peck Hay Mansions with its
spacious rooms and others.
Newcomer expat: Please contact Asia USA
firstname.lastname@example.org to help you get the best
Investors to note: Freehold. An old
dilapidated bungalow outside pool area, between this Condo and Newton Point is an eye-sore
for units facing this house and may affect rentability of units. No news about the
possibility of enbloc sales.
- Location near Newton subway and 5-minute drive to Orchard
Road and the American Club.
- Spacious rooms. The master bedroom is extremely large by
any standard, covering around 600 sq. ft. Living room is spacious. Dining room is
separate. Kitchen reasonably large.
- Privacy with only 28 units and only one building.
- Layout suits Caucasians. Big family room, bright kitchen,
one powder room and spacious bedrooms. Big living/dining area giving a sense of
- 10-minute walk to Newton subway and Scotts Road to
American/Tanglin Club or Newton subway.
- 1 major supermarket within 15-minute walk - Cold Storage
at Chancery Court.
- Cheaper rental than newer condos. Value for money.
Attracts many Caucasians who work in Orchard Road area as the spouse can wake up late and
go to office within 15 minutes.
- Upgraded swimming pool, good landscaping.
- Buses to Orchard Road, Shenton Way. Many taxis available.
- Prime residential area with many condos.
- Complaint of old corridor and the worn out canopy over
the main entrance
Upgrading with provision of a gym said to be planned in 1999.
- Certain units face the dilapidated bungalow seen in Sep
98. The units ending with FF-03 faces a power substation. The FF-01 faces
- Only pool, no gym or tennis court.
Case Study written in Sep 98: Landlords building good relations with realtor.
Prompt payment of agency commission gives Landlord priority.
"Should have waited for the German Tenant to open
his Singapore bank account," commented Dr W.
The agency commission to Asia USA was delayed because the good faith deposit cheque would
need 6 weeks to clear as it was a German cheque.
In such bad times for Landlords, Asia USA advises that Landlords should take the first
cheque even if it is foreign, so as to close the deal.
When the Tenant has time, others in his office or other realtors will change his mind.
However, since Landlords have got the 2 months' security
deposit and in this case, did not need to buy furniture, it would be good relations to pay
the agency commission to the realtor for the job done. Realtors are not paid a salary and
depend on the commission to survive.
PROMPT PAYMENT for services and you receive priority and
loyalty. When your condo becomes vacant, the realtors will not feel any urgency to help
you find a tenant since you have not bothered to look after his interest.
Immediate cheque payment will be best but few Landlords realize the significance..
Landlords who know the impact of prompt payment, will always get priority whenever their
unit is vacant.