808131 - Affordable Homes

House Agent's Licence

No. AD041 - 07306B

Singapore Real Estate, Rent, Condos, condominium, Rooms, House, Affordable, expats, expatriates, Cheap housing, Asia USA Realty, asiahomes.com
Visit www.asiahomes.com

Focus: Finding affordable homes for expatriates

Asia USA Realty (Singapore) asiahomes.com Pte Ltd
Blk 1002, Toa Payoh Lorong 8, #01-1477, Republic of Singapore 319074

Owners renting to US/European companies: expatriates looking for affordable rentals,
tel: (65) 9668 6468, 254 2728, 254 7944, fax: (65) 256 0501,
email: drsing @asiahomes.com. Contact: Dr Sing Kong Yuen, BVMS (Glasgow),
MRCVS, Managing Director
See www.asiahomes.com for free services to expats, advices to newcomer Landlords/Realtors/Tenants.

Affordable Homes for Expatriates
Article No. 808131

Case Study: Landlords: Pay "friend" helping you

Subject: Asia USA Research: Resort ambience - Parkview

For Rent: Parkview 2+1 pool view Tower 3, $2,200. Other units contact drsing@asiahomes.com

Costa Rhu Penthouse #13, 4+1, 5312sf, $10,000, Le Connie Park, Telok Kurau, 3 bdrm maisonette 1600 sf, $2,500, Eastern Lagoon II 2+1, $2,300.

Parkview

Date of report: August 13, 1998

Location: 1,3 & 5 Bukit Batok St 25.

(Note: Parkview Condominium is a 14-year-old condo if 178 units in West Coast Park).

Age: Around 1 month old.

Contact Asia USA (65) 9668 6468 if you wish to rent a unit, anytime when you arrive in
Singapore and have recovered from jet lag.
We just go house hunting when you call, provided we are tied up house-hunting with others.
You come first. Email colleen@asiahomes.com or drsing@asiahomes.com

Total No. of units: 532
2-bedroom: 86-139 sqm
3-bedroom: 101-187 sqm

Finishes: Living/dining - light yellow polished homogeneous tiles. Bedrooms - parquet. Built-in wardrobe, kitchen cabinet, cooker hob & hood, air conditioning.
Facilities: Swimming pool, tennis, squash courts, small gym, playground, barbecue areas, 24-hour security, clubhouse, karoke room, fitness area, sauna, jacuzzi.
Occupancy rate: Estimated 5%. Brand new.
Competitiors: Hume Park 2 (324 units) and Hume Park 1 (328 units) & Symphony Heights (449 units) and many condos in the Upper Bukit Timah Road and Hillview neighbourhood.

Note to newcomer expat: please contact Asia to help you get the best deal.
Investors to note: 99-year lease units. Occupants mainly HDB upgraders. Do not buy units just next to the school as it is harder to rent them out. This condo is painted a deep orange brown colour and is attractive but the fact is that it is not near the subway, makes it vulnerable to the new ones being built next to the subway, e.g. Regent's Heights.
Advantages:
1. Brand new and yet cheaper than prime Districts 9, 10 and 11. Many units are renting cheaper than public housing apartments. As a guide, 2-bedroom for $2,000 and 3-bedroom for $3,000.
2. 3 high-rise blocks up to 16^th floors.
3. Beautiful swimming pool meanders under footbridge and big "rocky" bridges merging with the children's wading pool with water slides for children and island for picnics, BBQ pits nearby - a resort ambience is present.
4. Close to Jurong industrial parks & Dutch/German/Swiss/Australian Schools.
5. Near Bukit Timah and Bukit Batok Nature Reserves - an attraction for Caucasian expats and families. See green trees and ferns in some areas.
Disadvantages:
1. 2 bus-stops to Bukit Batok subway. Not walking distance.

Contact Asia USA (65) 9668 6468 or
email drsing@asiahomes.com for house-hunting or rental of units.

Case Study Landlords: Best to pay friend separately

"I take $500 for referring to you, " said the "friend" who has the keys to the Costa Rhu apartment. The Landlord probably was not aware of this and referred Asia USA Associate to the exclusive realtor who wanted co-broking fees or payment of his advertisement bills which amounted to $1,500. Otherwise, he would not endorse the Letter of Intent although he was not instrumental in the closing. It was the "friend".

For $4,000 rental commission, both friend and exclusive realtor take $2,500, leaving $1,500 for the Asia USA associate.

In such circumstances, it would be better to deal with an Owner direct. The deal was closed with an Owner and full commission was payable to the Associate. From this episode, Landlords must be aware that "friends" needed to be paid directly by the Landlords, otherwise, the whole deal in a declining market, cannot be closed.

The exclusive agent's 3 months' contract was expiring in a few days' time and maybe, it would have been better to cut losses and get 10% referral fee (or $400) rather than zero. In the end, the Landlord started his own advertisement and promotion.

In today's market, many exclusive and non-exclusive agents fail to perform. Asia USA Realty advises all new Owners to advertise direct and communicate to all rental agents themselves. They must be pro-active - there is no other way.