Bayshore Park Condo Date of report: September 20, 1998
Total No. of Units: 1,093
Finishes: Living/dining - usually ceramic tiles or carpeted (being cement and sand screeded), bedrooms parquet.
Facilities: Swimming pool, tennis court, 24-hour security, clubhouse, mini-mart, café, playground, sauna, squash court, fitness track, gym, covered and open car park, barbecue area.
Newcomer expat:Please contact Asia USA firstname.lastname@example.org to help you get the best deal.
Investors to note: These condos are 99-year leasehold. Losing many Tenants to other new condos in the East Coast, although there are many units with panoramic sea views, renovated attracting prospects. Flooring is usually ceramic tiles unlike marble/granite in new condos and therefore the condo is "out-dated" internally and also externally.
Express bus (Bus Plus) to Raffles Place/Shenton Way comes direct into condo every morning, therefore no need to look for subway.
Case Study: Choosing your Realtor : Control of Human Resource Manageress
September 20, 1998
Many global firms such as those in the computer field, have powerful Human Resource Managers (mostly ladies) who will insist that you use realtors listed by them. Some do receive hampers and presents at the end of the year from "company retained realtors" in appreciation of their referrals.
The Human Resource Manageress will dictate to the new arrival that the company has a list of realtors for them and they must use the services of such realtors. Ask a simple question as to whether every expatriate in the past has used the designated realtors and you will find that the ruling does not apply to everyone. In other words, you need not be forced to use "company retainers" but you can do so if you wish. However, being new, try not to deal direct with the Landlord as there are many implications.
Engage an experienced realtor you are comfortable with. It does not mean that the outside realtor is less professional or dishonest, as implied by the Human Resource Manageress or the retained realtors of the company. You can always test the Realtor and use your judgment.
There are no fees payable by the expatriate and many benefits in using the services of the experienced realtor.
Case Study: Landlord, how to make Realtors give priority to your unit. Cleverest Lawyer-Landlord in Singapore.
September 20, 1998
Rental asked $6,000 in the last month but other Landlords have been renting from $4,000 to $6,000. Many offers of $5,000 and >3 offers of $6,000 within last few days. Differentiation by providing quality and more than value-for-money should attract offers higher than $6,000. Yet no closing for over 3 months. Why? It is a mystery.
"I don't like this brick-walled flanking of the mirror,"said Mrs F when told by Asia USA associate that it costs the Landlord a lot of money to install this and that no Landlord in Costa Rhu will do similarly.
"I do not use email or Internet,"said Mr F to the Landlord when shown the extra 41 power points and telephone points. "He deals with human only" as he is a human resource manager and has a personal secretary. Money spent on this points down the drain!
" The electrical points in the bathroom, absent in all Costa Rhu units since the Developer does not install them, will be good for your shaver, "said Asia USA associate, referring to the beard and sideburns of Mr F. "Sorry but I use scissors to trim them every 3 months!".
"Your wife could find the points useful when using the hair-dryer,"suggested Asia USA associate. "She does not use any hair-dryer as she has cut her hair short".
"Air conditioner in the utility area will cool down the maid's area, "said Asia USA associate trying to sell the advantages. "We don't need maids," stated Mr F. However, the kitchen could receive the air conditioning too, countered Asia USA associate. None of the expensive upgrading seems to be necessary.
"Will the bidets be of any use? "asked Asia USA associate of Mr F. "We are British and we don't use bidets (unlike the Europeans), "
"The Landlord is a responsive and highly recommended. He is a professional, being a lawyer"said Asia USA associate. "Look, love, we have the worst kind of Landlord - a lawyer" exclaimed Mr F to his wife. Should not have mentioned lawyers as Landlords - it could be a fatal mistake.
Calling the Landlord to provide reinforcement, Asia USA associate said that the Landlord is not practising litigation which is a fact."I am rusty in litigation, having specialised in international business" said the Landlord.
Some of the advantages mentioned above were acceptable though. It was high-pressure selling for this second viewing. The choice unit for Mrs F was the ground floor unit taken by another British. As the Landlord had given a key to Asia USA, Mr and Mrs F were shown this unit too.
Mr F wanted some private discussion with his wife. Both agreed and mr F shook hands with the Landlord. Rental was $6,000 without the refrigerator, washing machine and dryer (negotiated by Asia USA realtor). The cheques arrived within 3 days and the lease was stamped. The Landlord felt he had a higher net income since he needed not supply the appliances. He was glad that the Tenants had no children, hence less wear and tear of the Condo.
On receipt of the cheques and lease, the Landlord paid the agency commission immediately, without the need to ask for invoice (which was given later). What better motivation for any realtor than prompt payment on signing of the lease agreement as agreed in the Letter of Intent? You can be sure that his properties get first priority as there is so little hassle getting payment, unlike most Landlords in Singapore!
Note: Asia USA's Letter of Intent with condition that payment of agency commission will be done when the lease is signed, is usually ignored by many Landlords and it is refreshing that a Lawyer-landlord keeps to his part of the bargain. We try not to deal with Landlords who delay payment or worst, disappears overseas for months and we have to service the Tenants, sometimes with petty cash payments.