Visit www.asiahomes.com

For Rent:

Inexpensive Condos close to sea and sailing clubs

• 2-bedroom from $3,000,

• 3-bedroom from $3,500,

• 4-bedroom from $5,000.

Tranquil, pool & city views from all rooms
Ref: 804011
3-bedroom, 1,292 sq.ft, >16^th floor, unobstructed city views from all rooms and pool views from living room for only $4,000 fully furnished. Away from noisy expressway traffic. Blk 125. Call 9668 6468 to rent!

Ref: 804015 The Makena Condo. 3-bedroom 1,163 sq.ft, $4,000 f/f. Sea view, high floor. Blk 123.

Ref: 804019 The Makena Condo. 2-bedroom, high floor, $3,500 p/f.

Ref: 804072 The Makena Condo. 3-bedroom, 1,163 sq. ft, $3,500 p/f, 6^th floor, pool view. Blk 123.

Ref: 804073 The Makena Condo. 3-bedroom, 1,163 sq. ft, $3,500 p/f, 4^th floor, Blk 125

Many units available. Not practical to list all.
Please contact Asia USA (65) 9668 6468 for details and viewing.

For rent as at April 9, 1998:

Some real value for money spacious Condos available:

• Costa Rhu condominiums, 3+1 spacious bedrooms, 1,776 sq. ft $3,500 partially furnished and 4+1 bedrooms at over 2,000 sq. ft at $4,000 partially furnished.
  NO river views, below 6^th floor. Suitable for expats who love the East Coast and a 5-minute drive to Raffles Place and who has $3,500 - $4,000 budget. Call Asia USA (65) 9668 6468 now or never!

• Ridgewood Townhouse in Ridgewood Condominiums, 4+1, 2850 sq. ft. Mount Sinai area, walking distance to Australian School. Good for home office as there is space, free car park (2 cars) and garage space as well as garden. Not renovated but decent move-in condition. Rental at S$4,500. Call agent 9668 6468 now!

• Estoril Condo 3+1, 2,200 sq. ft. Holland Road, near Farrer Road and Botanic Gardens. Spacious living/dining. All 3 bedrooms have attached baths (rarely seen in Singapore condos). Rent at S$5,000 p/f. Taxi to Tanglin Mall and Orchard Road: <5 minutes. Buses to Holland Village and near International Schools.

• H J Heights Condo 3 bedroom, 2,230 sq. ft. Merbok Crescent, near Bukit Timah Shopping Centre. Lower maisonette, renovated and bright. Rent at S$3,300 p/f. Incredibly cheap and spacious. See educational article on H J Heights in www.asiahomes.com.

Ref: 804063. Semi-detached house 5+1, 2,200 sq. ft built-in and 3,600 sq. ft land. Renovated and near Alexandra/Tanglin Road area. Only 2 bedrooms air conditioned. $3,500 p/f.

Case Study.

"The lawyer said you are paid (by me) and you should type out a new copy of the tenancy agreement" insisted school teacher Mr X.

After one and a half months of waiting, the head office reduced rental by $200 and lease to one year instead of 2 and delayed commencement date. When the prospective Tenant came to Singapore, amendments in the lease agreement were made and were initialled. All school teachers can't stand untidiness but this is a valid contract as both parties have accepted the conditions and deposit was wired.

Mr X then wanted his lawyer to insert a clause saying that he could take possession of the place if rental is not paid within 7 days. The lawyer, from a top legal firm in Singapore advised that a new lease agreement be properly typed and all parties will sign again.

There are at least 3 factors making a lease agreement valid:

1. Offer
2. Acceptance
3. Consideration (money usually).

All factors were present in the "untidy" lease agreement. By making a new lease agreement with new conditions, the Landlord has not accepted the prospective Tenant's offer to lease.

Obviously, this lawyer is NOT aware of the implications of the Landlord not accepting the prospective Tenant's offer to rent. He is from a top law firm in Singapore and obviously the Owner thinks highly of his advice.

In a declining rental market, first-time landlords have to be alert and be decisive rather than be neat. In this situation, there are 2 outcomes:

• Realtor advises prospective Tenant not to sign the new lease and therefore Tenant can get back the monies and go for a responsive landlord. Some realtors are given 1.5 month's commission with no hassle from Owners.

Asia USA usually tries to accommodate the wishes of the fussy Owner, but please note that all realtors (in the rental business) have at least 100 more apartments to switch our prospective Tenant to. Foreign first-time Expatriate Tenants, once they entrust a realtor, usually adopts the advice of the realtor rather than live under a "nasty" Landlord.

• Tenant accepts the new conditions but does not feel good. When the lease expires, he will look for another place. This is good for the realtor as most landlords do not pay any commission on renewal of lease and looking for new apartments in a declining market is not a problem.

A few smart Owners are more sophisticated and agree to pay commission on renewal; this makes practical sense as the realtor will work hard to keep the Tenant happy to remain on same premises.

"How come money still not in the bank after 4 days?". Mr X, the Owner had been phoning us almost every day to find out why the money was not wired. In the US and Canada, our Singapore's Monday is their Sunday. Wiring takes around 4 days provided the "swift code" or routing number has been given to the US client.

Most bankers in Singapore branches are ignorant and will not advise that a "swift code" is needed.

For example, "BBBKSGSG" for Kallang branch of BBB Bank (actual code given to school teacher Mr X, although according to the Geylang branch number, it is a numeral code such as "384 7889") to be inserted before the Landlord's bank account number. Otherwise, there will be a considerable delay in transferring monies from overseas to Singapore and vice versa.

It is hoped that this article is useful for first-time Owners to be aware of the actual operational details in leasing to foreigners. Good luck.