711249 - Tips for 1st Time Landlords

Received: by win-uk.net!nickyo; Tue, 09 Dec 1997 12:39:52
Reply-To: X X<,,,,,,,@nickyo.win-uk.net>
To: Info@asiahomes.com
Date: Tue, 09 Dec 1997 12:39:52
Subject: Rented accomodation
From: .....@nickyo.win-uk.net (.......)

To whom it may concern,

My wife and I are moving to Singapore in the week commencing 12th January 1998 where I am starting a 3 year contract with the .............................. We are looking for accomodation and would appreciate any information or suggesstions you could

make. At present our requirements are very general but we are looking for 1 or 2 bedroom apartments with swimming pool and possibly gym in pleasant surroundings.

We look forward to hearing from you and will make further contact once we arrive in Singapore.

Yours,

X X.

Dec 11, 97 4.23 a.m

Welcome to Singapore. You will be working in a most exciting department improving the lives of all Singaporeans and expatriates who are coping with the high rentals and cost of car ownership in Singapore. I will be overseas from Dec 17 - 31 but will be in Singapore from Jan 1 1998 and ready for action. Here are some suggestions:

4 - 8 weeks in a Service Apartment. Most employers such as banks give you 4 weeks to find rental accommodation but much depends on negotiations. If you like to live in the East Coast, do contact me as service apartments (around S$4,500 with maid services/month) are cheaper than in downtown (>$6,000).

One or 2-bedroom apartment. There is no shortfall of new 2-bedroom apartments but 1 bedroom apartments are rare. Rent difference will be around S$500/month and you will be better off in a 2-bedroom as you will have guests and relatives visiting you.

Location near Raffles Place. I can get for you the cheapest new 2-bedroom apartment, 1,001 sq. ft, at S$3,500 partially furnished, walking distance to Raffles Place. It is called UE Square Condo, just available. I rented one recently at S$4,000 fully furnished to an American Company on December 9, 1997. Rentals should be lower by the time you come as more units are released.

Location 30 minutes by bus from Raffles Place. Bigger living spaces/$ rent paid. Older ones are much cheaper but your wife may not like the bathrooms and kitchen appliances which would have been in wear and tear.

Wife’s wishes and whether she wants to work. Much depends on her temperament, her independent spirit and whether she would be working in Singapore (Dependent’s pass). Districts 9, 10 and 11 are expatriate areas. Some expatriate wives are very active in social work and it would be best to live near downtown to save transport costs and time.

Pleasant surroundings. Lots of greenery, away from the maddening crowd and noises from traffic and new construction and low floor level are characteristics wanted by expatriates from Britain, Australia and the US, used to living in big houses. Low density condos away from down town will be the answer. What will be your definition of "pleasant surroundings?"

Rent comprising part of salary, profit sharing or fixed. There are at least 4 compensation methods for expatriates from feedback of my clients. The method you receive is very important.

If you are paid a salary which includes rent, you may like to get the cheapest decent place so that you have more money to buy/rent a car for your wife. You usually spend long hours in the office or travel and therefore do not need a car as taxis and buses are easily available.

If you have profit-sharing, obviously, you would like to rent a decent accommodation at the lowest rate as you will want to reduce accommodation expenses to generate higher net profit. For example, I have rented a brand new house with 4 bedrooms at $3,000 or less to a couple, outside the expatriate community. The wife enjoys the gym in one of the few Clubs in Orchard Road. The American Club is another Club to join. Rates vary widely

If you are given a fixed rental budget, without any motivation to save, I will recommend the best accommodation in Singapore.

If you are given a fixed rental budget, but you get e.g. 50% of the difference in rent, you may want to save. A Swiss banker was given $10,000 and if he rented at $8,000, he gets 50% of the difference of $2,000. In effect, he would get $1,000 additional pay. However, the wife liked a house so much that there was no bargaining. The Owner wanted a rent of $11,000 for a 3-storey intermediate terrace house in District 10 (6th Avenue area). It was not worth $5,000 in the market as it was a refurbished house but it has a new kitchen and baths. I recommended a detached house which was 3 years old but then the bathrooms and cabinets were not brand new.