The 99% of rental market is managed through Real Estate Brokers. The direct result is the process is more like purchasing a home than renting one. The process began with our Realtor contact brokers about their listings. Their conversation with immediately turn to the following questions: what race of their client is, where do they work, and what their price range? They are ideally searching for someone who is white and works for a bank. (Their words not mine)(Left: Living Rm; Right: Living Rm/Front Door)
Once we found an apartment as the renter you must give a signed offer along with an initial deposit check. At this time negations begin. The potential landlord will counter offer. When the terms are agreed upon the landlord will sign the offer letter and cash the deposit. From this point negations continue further, will the apartment have a dryer or a fridge or curtains, etc.. If the lease agreement cannot be settled upon both parties have up to 14 days to pull out. Sometimes you may encounter situations where there are multiple offers and a bidding war will ensue. To fully secure a rental the lease must be signed, the initial deposit cashed and two to three months’ rent must be paid up front. After the housing is secured the renter has one month to report any problems to the landlord who will pay the bills in full. When one month is up the renter must pay the $100 of any work done to the apartment. If you end up with a brand new building all work is covered under a one year warranty. Often when you are trying to rent a place you will end up having an offer or two fall through. Our experience was no exception. Thankfully we did not get sucked into a bidding war. And so... (Left: Dining Rm)
We first set our sights on a very sophisticated “quiet” apartment. It included a private elevator, a full size “American” fridge, three bathrooms, a bomb shelter/maid quarter, two bedrooms and a view of a home that costs $40,000 a month. After placing our offer,”the Realtor suggested we go take a walk around the neighborhood. We heeded the advice and took a Saturday evening jaunt. Only to discover that our sophisticated apartment was not quiet at all (there was major construction going on down the block) and to get there from the subway you had to walk along a major highway. Needless to say we withdrew the offer on Monday. (Above: Kitchen)
(Left: The tallest building is where John works)
Next we were just as enthralled by a brand new “Resort Living” development. However, there was some hesitation because the development was so new that minor construction was not finished. We figured that we could live with it as things would eventually settle down. The Realtors had us convinced that they were getting the best deal for us. (I will try and not go into too much detail of the events that occurred as it turned out to be an exhausting sorted affair.) This time we gave a check with our offer in hopes the landlord would understand how serious were about the place. The landlord didn’t care after holding the check for a week the landlord still hadn’t agreed (she was hoping for a bidding war). We walked away. (Right: View of Temple)
Our next consideration was actually an apartment building that we had discovered on the internet before coming here. We saw the apartment in the morning and placed a bid that evening. After about an hour of phone negotiation we were just about ready to set our sights on something else when, we settled! Four days later everything was signed sealed and delivered.
(Above: Pool)
So after two months of scouring the nation of Singapore we are now living in “Emerald Garden” in the heart of Chinatown. It’s a three bedroom apartment, with a great view and most of the time, an enjoyable breeze. It’s a very typical luxury condo for Singapore. There is marble (Right: Front Gate) everywhere. We have a nice courtyard with probably the most important commodity, a pool! The facilities also include a gym and 24 hour security. The property is completely gated. The security reminds me of something you would see in the third world. Our neighborhood is spectacular. It feels like you just walked into some colonial town in the 1840s. It’s very Soho in nature. Fancy boutiques and delectable restaurants with always an Aston Martin or Mercedes parked on the street.
2 comments:
Looks like a great place! I'm sure you are glad to have found a place. Thanks for sharing the process, it's great to hear how it works in other cultures. Finding an apartment in another country is tough!
- Trent
Sounds exhausting and am glad you are settled in. Great place to live!
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