ON HIS MAJESTY’S SERVICE

It was a surprise to meet you at UE Square after so many years and to know you have had prospered over the years.

Today will be the 2^nd day of "Open House" to rent out your one-bedroom UE Square, 850 sq.ft. Yesterday, my Agency had one prospect who could only decide after Chinese New Year. I had a Caucasian woman with a toddler viewing but she offered S$1,500 which is way below market rate.

I know that it would be tough and that nobody would come in the morning but I advertised your unit solely in the Straits Times for Saturday and Sunday, opening house from 9 a.m to 6 p.m. I do not want any exclusive from you as I know that the rental you are asking is a bit higher than what the market will bear and that I may be risking my money and agency’s time on your unit as weekends are most precious to us as I have many other viewings.

I assigned agent James in your unit, gave him a handphone so that he could be contactable and asked him to be at the courtyard of UE Square to solicit any prospective expatriate tenants every now and then. I explained that James should not just sit in your unit and wait for "customers". He must go out to solicit and though he was not successful in that the Caucasian woman offered $1,500 rental, it was still a strategy to "rent by walking about" within 1 km from the rental unit. I am sure you have your "MBO" or management by objectives strategy too.

However, James is not the "James Bond, 007". James Bond is provided gadgets by "M"? his boss to get out of hot situations. Unfortunately, my agent James was not provided a portable air conditioner by his boss.

After your visit in the morning, you took away the air conditioner remote control. The apartment became hot and stuffy. It was open hot house season?

You said you were worried that the remote control would be stolen by prospective tenants and you had experienced one such incident.

Although you are not the first-time Landlord and you did have good above market rentals in the past few years (and so did almost all Landlords in Singapore), the rental market is in decline.

As you will be in today, please visit one "open house" unit by another agent in the Riverwing Block and experience for yourself, the cool comfort of the cosy 2-bedroom apartment, fully furnished with upscale furniture and expensive curtains, high floor and unobstructed views of the city and park. Rental is $3,800 which is below market rate as at January 25. The only disadvantage* of this unit is that the Tenant has to squeeze through a 15-inch gap to the left of the air-conditioner compressors in the right half balcony to put the clothes into the washing machine located to the left of the balcony.

Each prospect steps into your unit for around 5-10 minutes and if they experience a hot stuffy atmosphere, they have a poor peception and reduces closing chances to zero.

Agents spending a precious weekend under such "hot" stuffy conditions may need to have their heads examined at the WoodBridge Mental Health Hospital. This letter is posted in www.asiahomes.com website to benefit other first-time landlords.

Best wishes for the New Year.

*(Advice to First-time Landlords: In this situation, your Tenant will be most unhappy. It is best to consult the Management and a really professional air-conditioning and electrical expert to relocate the compressors to the left and the circuit-breakers and alarm systems to the right half).