Some of my experiences to be shared with New Agents are best illustrated with real cases.

Caucasian Australian, married, no children was asked by a top auditing firm to get a 3-month lease at $3,500 rental fully furnished with option to renew for one year. Usually top global firms do not behave this way because situation of ease of getting short-term rentals in Australia is almost non-existent in Singapore for quality accommodation.

Most Agents will not want to waste their time on him and 99% landlords will not want this arrangement.

Owner of 2-bedroom Harbourlights Condo with upscale furnishing wants $4,000 and long lease (still waiting since keys were given 5 weeks ago) but one Owner of an unfurnished, with no pool views was agreeable . Valley Park Owner wants $4,500 but not 3-month lease. Valley Park agents said no Owner would respond as client preferred Valley Park.

Of 2 UE Square Condo owners with smallest sized 2-bedroom, one was not interested but the other would take the risk since she had heard of the famous name of this auditing firm. She was prepared to take the risk and her unit would be leased on January 1, 1998 without any loss of time and investment revenue.

To satisfy client that he had a good deal, we saw another unit, 120 sq. ft bigger, fully furnished with upscale furniture and has a bigger utility room to put dryer. Owner was prepared to take risk at $4,100 for 3 months and thereafter $4,000 for remaining life of lease. This means client has to foot from his pocket, around $500/month. He wanted to think about it and contact his wife in Australia.

This desire for bigger 2-bedrooms is common as Australians live in big houses and really get a shock at the high rentals/sq. ft of Singapore’s housing in good locations. (New housing agent what to do in this situation? Do you want client to wait longer?).

The best advices to close the case are:

• rarely will client get 3-month lease offer for brand new UE Condos (fact).
• client agrees that extra $500/month adds up to $6,000 per year and as he is a newly married man and loves his wife very much, this amount will be better spent in taking the wife on a holiday.

Landlady was pleased to rent her place and even refer her mother’s unit to me. She gave him a 29" TV and the probability of Australian couple renting out the whole year is very high as the wife also works (in Suntec City).

First time Landlords.
Tenants coming to Singapore have a certain budget
and if you procrastinate, you will lose out.

Real cases handed by me in 1998.
1. Castle Green Condo 2-bedroom. British client offers $2,300 unfurnished. Owner, in the euphoria of getting keys rejected offer but agreed next day. Too late. After 6 weeks, she found a tenant at $2,850 with full furnishing required. Gross rental sounds good but net rental after $10,000 furnishing expenses and loss of 6 weeks’ rental ($5,800). I leave readers to calculate.

2. 19 Shelford Condo 1 bedroom. American client offers $2,000 fully furnished. Owner thought self-advertisement for the weekend would get her better offers. American lady took a 2-bedroom upper floor for same conditions as 2nd option! Now, it is 3 months after getting the keys. Unit still available and she has to travel.

3. 19 Shelford Condo 2-bedroom but ground floor, near Management office (mini-mart later). No takers for few months. I got one couple at $1,800 unfurnished commencing Dec 1 and agreed to 2-years! Owner angry because relative rented at $2,500 earlier. Unit still vacant.

4. Harbourlights Condo 2-bedroom. Army officer (very knowledgeable about Singapore property rental market) owner decisive as I gave him 20 minutes to decide or we would take the 2nd choice. Rent at $2,600 partially furnished from November 1 to American single bachelor. Has to take back new beds and living/dining sets. Too many units still available but he is getting the investment returns and lowest vacancy rate.

Too many other Agents and Owners would have similar stories of lost prospects (there are not many in the first place)..