Real Estate, Astor Green, Rental Houses, Apartments, Condos, Homes Singapore
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Last updated: 16 Jun 2001
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condos & houses for rent
Astor Green, South,
Astor Green, pictures
Cavendish Park pictures
Relocating expat: Please contact Asia USA judy@asia
homes.com, tel: +65 9668 6468 to help you get the best deal.
3,5,7 Pine Grove, 170 units.
51-64 sq. m
91-101 sq. m
128 -151 sq. m
Finishes & Fittings: Living/Dining room - marble tiles. Bedrooms: parquet. No balcony unlike opposite Cavendish Park condo.
Facilities: Swimming pool, covered car park, 24-hours security, tennis court, squash court, playground, BBQ area, gym, meeting room, sauna, clubhouse.
Competitors: Cavendish Park (254 units) across the road; however Cavendish Park's 3+1 is more a 2+1+1 because the 3rd bedroom is very small. The Sierra (60 units) is the new kid on the block also with very small 3rd bedroom. Older condos like Ridgewood (464 units) and Pandan Valley (623 units) with much more spacious bedrooms and living areas and lower rentals.
Occupancy rate: Almost 100%. Many Japanese and as it is walking distance to the Australian School, has many Caucasians. Contact email@example.com to view units.
Investment potential: 99 years. Rentals for 3+1 asking $5,000 fully furnished and $4,000 - $4,500 p/f, much higher than the older condos nearby. Relatively new condos attracts expats.
3-bedroom (1,500 sq. ft) has a bigger 3rd bedroom to accommodate a single bed than Cavendish Park's 3-bedroom (1,300 sq. ft) or The Sierra's 3-bedroom (1,200 sq. ft).
To: First-time Landlords
Case study: Competing with developer-landlords
"I have to attend CEHA class this evening. Why don't you ask your prospect to view the unit during lunch-time? I can't leave the keys with the security guard or anyone. You are not allowed to collect and return keys. This is Management Policy," said a harassed Realtor Madeline, the sole controller of this new Bukit Timah Condo. Big Straits Times advertisement, almost daily. 1.5 months' commission to realtors, at least 50% more than the standard.
But the Management has only one girl to do the house showing and she is not even working in the Condo itself. She has to drive from another office taking around 30 minutes. She has other duties and cannot delegate and cannot keep appointments. Everytime, she has to drive to the Condo for one agent. She gets exhausted.
The Company is actually wasting money on Straits Times Advertisement. What is the point of offering 1.5 months' agency commission when it is very inconvenient to show the unit?
This is good news for private individual Landlords. The following are updates on what Developer-Landlords are doing.
There are at least 3 categories of Developer-Landlords.
Sometimes invites agents for a free lunch meeting. Throws big Straits Times advertisements daily but do not mention "Agents Welcome". Has a leasing department with several staff dealing with rental queries and provide some backup service. Entrust agents with keys to units. Gives 1.5 months' agency commission in some new or slow-moving projects. The database of realtors (realtors book in and give name cards) specialising in residential rentals is not efficiently used to its advantage. Will need information technology. Fortunately for private individual Landlords, no weekend or public holiday viewing is allowed. However, show units in new projects may be opened or the Security Guard may have the keys.
However, the good news for first-time Landlords are that most of them have these characteristics:
There are ample lot of opportunities for private individual Owners in this shrinking Tenant's market. Just make sure you contact all the realtors focused on residential housing. Keep a database. Fax to them your vacant properties. Call them. Email us at firstname.lastname@example.org.
Or other Internet realtors. Give 1.5 months' agency commission and the highest occupancy rate. Be proactive and advertise as "Owners", "Full commission to agents" and you should be able to compete with the Big Boys.