Central Green Condominiums are within 5-minute walk to the Tiong Bahru Shopping Mall & subway. Emerald Park is around 10-minute walk to the Tiong Bahru subway, north of the Central Green Condo. Both are well located in downtown, very near the central business district and near subway.

Occupancy rate: Around 90% for both.

Investment potential: 99-year leasehold. Easy to rent and therefore generates rental revenue. However, out-dated ceramic tiled flooring and intense competition from Aspen Heights and UE Square Condos with marble flooring have attracted many Japanese tenants away.

Advantages:

1. 5-minute walk to Tiong Bahru subway and 2 stops to Raffles Place in less than 8 minutes for Central Green and 10-minute walk for Emerald Park.
   
2. Easy to rent. Units taken up within 3 weeks in most cases as it has central location and is 5-minute walk to the supermarket, cinemas and subway.
   
3. Many buses/taxis to downtown and Orchard Road.
   
4. Cold Storage supermarket, McDonald's, fast food, restaurant, cinemas and retails shops across the Tiong Bahru road in the Tiong Bahru Shopping Mall for Central Green.
   
5. Tenants mainly Japanese expats.

Disadvantages:

1. One complaint of expats is that the flooring of the living and dining area is white ceramic tiles unlike marble flooring in brand new ones.
   
2. No gym for Central Green.
   
3. Kitchens not enclosed in Central Green Condo and therefore cannot receive air-conditioning from the living room.
   
4. Rentals are not as low as the condos are  close to the subway but there is a larger supply  of newer condos in 2000.
   

5. ---

Case studies for first-time realtors of asiahomes.com

Tenants, formidable - Minor Repairs, Shower Curtains, BBQ sets & The American Dream House.

August 21, 1998

Case 1.

"The kitchen sink plug leaks and the Developer will only deal with the Landlord or the Realtor," complained the New Zealander Tenant. The Taiwanese Landlord had been uncontactable for few weeks as she was in Taiwan. The Developer had replaced one plug and refused to do any more favours because it was "abnormal" use of the kitchen sink plug. Mrs NZ had used very hot water to wash her crockery and the plug material had melted after 2 months. She proposed the Landlord to source for a heat-resistant sink plug but obviously this would not be acceptable.

Recommendations:

New Associates of Asia USA. In this case, the relations between Tenant and the Landlord were poor. In any case, minor repairs (such as the replacement of the kitchen plug) of less than $100 would be the responsibility of the Tenant but what are "Minor Repairs"? Some leases do define "Minor Repairs".

Obviously, the Developer's recommendation of the Landlord providing a dishwasher would not be acceptable once the lease had been signed by both parties.

The practical solution in this case will be for the housing agent to buy 3 more plugs and inform the Tenant that it is out of his pocket, assuming they last for 9 months when lease expires. Hopefully, she will use water of lower temperature. Most Caucasian Tenants understand the problem when the Realtor makes an effort to communicate. The Developer said no other Tenants in UE Square Condo had this problem!

For newcomers: If you are in for the long haul, your name and that of your company play a great part in your success. In this case, it is unlikely both parties will renew the lease. Hopefully, you may get to service the Tenant and recover the expenses.

Case 2.

"We won't buy the shower rods or curtains as we can't take them back to Australia". In situations where the lease did not stipulate provision of such items and the Landlord refused to provide them, nothing much can be done because the shower rod could not be fixed to the window (on one end) of the UE Square Condo. A "U"-shaped rod will be needed and this would cost more. The Tenant might sue for "slipping on the wet floor of the bathroom, since no shower curtains were provided" but there is a clause in the lease agreement which put the risk of injury as the responsibility of the Tenant. In any case, anti-slip mats on the bathroom floor might help prevent accidents since both parties had agreed on a rental with "as is" items seen (minus the shower rods and curtains). The Tenant could ask for more items but when you meet a formidable Landlord, nothing could be done!

Case 3.

"The warranty card for the dryer is not available and the Landlord is uncontactable," complained the Tenant. In such situations, the agent should advise repair and pay for the cost since the Tenant will not pay first. Hopefully, the Landlord will reimburse or claim back from the company. All good Landlords should try and relinquish control by giving the warranty cards to the Tenant rather than keeping themselves. Make a photocopy and give to the Tenant.

Case 4.

"Your Tenant's choice ice-making American-sized refrigerator could not fit into the Woodgrove Avenue House!" exclaimed a harassed co-broking agent. Since the Tenant would not want a smaller fridge, the only solution is for the Landlord to remove the top wooden cabinets. Many of the new 3-storey terrace houses in this estate have not been designed for American-sized refrigerators and the kitchens are too small.

Case 5.

"We don't provide gas-operated barbecue sets, " said a Landlord of the Beechwood Grove (near American School). No further negotiation needed. It costs around S$1,000 for such a set! However, in this economic downturn, another Landlord was willing and the deal was closed.

Case 6.

"You should get for me a higher rental than the $6,000" said a Landlord of the Woodgrove Avenue house on signing the lease agreement. He had 3 prospects suddenly when there was none for the past 2 months. As Asia USA realtor represented the Tenant, the agent had to listen to the formidable Tenant who decided that no house was worth more than $6,000! A house next door was later rented for $7,500 and this situation is extremely common in Woodland housing next to the American School. The Tenant usually rents according to his budget.

All realtors want higher rentals as their agency commission is based on rentals - the higher, the more commission.

In this case, the Landlord was told that the Tenant had seen over 200 houses in Singapore to find the "American dream house" similar to the one in Houston, USA and if he rejected this case, he might have to wait again for few months.

Obviously, there are no American dream houses in Woodlands, Singapore. Not for $6,000 - $7,000 which is considered a high rental even by Houston suburban housing standards.

The American dream house is a one-storey detached. Big sprawling garden, a powder room separate from the guest room. At least 4 bedrooms. Big and spacious bright kitchen. Rentals of such houses range from S$10,000 - $30,000 and are rarely available in Woodlands. Detached houses with inground swimming pool rent from $13,000.