So,how does the rental market work?Do you usually engage one agent or several?
Newbie
So,how does the rental market work?Do you usually engage one agent or several?
Junior
i also wwan to know
Newbie
If its to rent out your own ppty, stick to one you trust and be patient. If you go with multiple agents to market for you, it gets confusing and you might get undesirable tenants. I have been using the same agent for the last 10 years.Originally Posted by Lovelle
However if its to search for rental apartments, diy unless you are an expat.
Newbie
so i guess the next question is-how do you know your agent is doing a good job-just trust your instincts?
Junior
at 1 instance, i waited for several mths to get a tenant becoz i trusted 1 agent.
Exalted
if 2wks not a single offer find another one liao lor....
Senior
Non exclusivity works well for me so far.
Exalted
more cumbersome lor....u goto open the doors for diff agts....if sm1 is lazy and busy, goto pass key to a trusted agt
Junior
The rental market is very strong so most units should be able to rent out within 1-2 weeks unless one is asking for way above market prices. But I know some agents are SUPER LAZY - so it's important to choose a hardworking and reliable agent.
Junior
2 weeks ? so fast !
my past experience, it's in months.
btw, do u guys make ur curtain here or in JB ?
Exalted
err....can save how much??
curtains doesnt cost alot rite...around 1-2k max only
Exalted
yeah...after a while...u noe which agt's number to keep
Newbie
Under the current market, what %age of gross return is considered worthwhile to rent?
Junior
3% shld be ok
btw anyone knows where to get the filter layer for the cooker hood ?
mine is a elba i think
property soul
You can find a good agent by trial & error.
1) Talk to agents showing houses in the same condo.
2) Advertise your property with the word 'owner'.
Look at the personality of the person first, before his title or real estate company.
(Extracted from my blog post at http://propertysoul.com/2010/10/08/i...operty-agents/)
I use the same agent for the past 5 years. She's the best I find so far.
property soul
To owners, time is money. Good agents will minimize the 'vacant time' of your unit as much as possible.
My agent will find out whether the existing tenant is continuing/moving out and arrange the necessary. New tenancy agreement, repairs, etc. will be done for me before the new tenant moves in.
The moving out and the handover are often arranged on the same day so I don't have to lose rent for a single day.
I guess this is what you should expect from an exclusive agent.
Senior
no need agent lah, just do yourself lor. tenancy agreement can get online or get a friend working in property agency to email you one. Delete away the company name and change a bit, after that you can use that for your rental. Want to advertise, put an ad in the news paper monday to friday lor, you will sure get calls coming in
Senior
i am targeting to rent my regent heights unit for a 5% return
Under the current market, what %age of gross return is considered worthwhile to rent?
Newbie
Wow! That's good. My agent advise that thei am targeting to rent my regent heights unit for a 5% return
return should be collected based on original
cost of investment. I thought it should be
based on current market value of the property.
Which is correct?
Junior
It depend on hOw much trust and confident you have on your agent
Newbie
What if agents call up in response to your ad? Im sure they will want some commission.
Newbie
My agent left me to face with problematic tenant . Still awaiting to collect my 1st mth rental which is 10 days overdue.
Giro not done as per contract she mention tenant problem.
Tenant no pay on 1st mth of rental she mention lawyer problem.
Ask her to chase she want me to make direct contact with tenant.
Till date still no reply from her as she insist she have done a lot !
Wonder when do duties of agent end ? After collect commission ?
property soul
In my early days as an owner, I tried to rent properties on my own.
After spending much time to show the place, I still need to pay the same amount of commission to the tenant's agent. Also, the tenant's agent can disappear after getting my commission.
I might as well rely on my exclusive agent to do all the work for me and look after my interests.
Newbie
Agree. But this agent works for me leh.
And yet the level of service disappears after getting
For me a problematic tenant !
Newbie
Renta return Should be based on current market value of property.
You will get a better response and can also screen your poteetial tenant first before allowing to view your property if you advertise on your own.
Its hard to get a reliable agent that will be able to rent out your propperty to a good tenant & reasonably high rent.
Junior
u can lodge a complaint with CEA ~
Senior
just pay them half of standard com as they are not your exclusive agent. 2 years rental just pay them half month.
Newbie
I pay her usual 1mth+gst for 2 Yr lease.
Sigh. Now I still awaiting her reply. CEA ? Her rice bowl leh.
If the tenant pay and all outstanding issues settle then forget it lah.
Pray myself got poor judgement of character .
Sigh.
Senior
if tenant don't pay, it is not the agent's fault so complain to CEA also no use. You have to go to Smalls claims tribunal to settle. if small claims still cannot settle, just get an order for the tenant to vacate the premises and if they still don't, get the police to evict them as tresspassers (that is the last resort)
Newbie
Txs for Yr advice. You are more knowledgable than my agent.
Posting Permissions
Reply With Quote