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The 1st Step in any Rental of Private Properties is to check what is the market rental for your property. You will not want to rent your property below what it can actually fetches. One has to take note that no two properties are alike; each and every other property occupies a different space and location. Both properties cannot occupy the same space and location. Therefore the view and facing of two properties in the same projects are not the same and hence command different pricing altogether. It is a little trickery on estimating the market rental for your property. There is no banks to go to for the estimation as banks do not do that. One way of estimating the market rental is to do a mini survey & check what are the asking prices & transacted prices in the vicinity. A little troublesome with aggressive agents bugging owners when they are not that ready to rent. Searching on the internet is the more unobtrusive way but may not be accurate due to the fact that most internet property portal or websites contain a lot of outdated data (because the websites offer free listings, nobody cares to maintain good accurate records). A better way is to search our records here that aims to maintain good accurate database with the assistance of advertisers who pay to post the advertisements.
The 2nd Step is to decide a competitive rental that is realistically achievable for your property. Good property consultants who are in the fields are better able to help you do that than those sitting behind desks who based all information on data that may not be that timely. Give them a call & ask what they think they could fetch for the rental of your property. Be prepared however to be pestered by them to do the rental of your property.
The 3rd Step is to inform the world that you are renting your property, which is cost effectively put on internet for everybody to see through our website, www.singaporepropertiesonline.com
The 4th Step is to answer & screen calls for affordability & seriousness of callers. Be prepared to answer many calls & be irritated by callers. Housing Agents are paid to do that on your behalf.
The 5th Step after careful screening is to arrange appointment to see your property. Remember to keep your property neat & tidy and choose the best time & lighting circumstances for viewing.
The 6th Step is to carefully promote your property without appearing to be doing any hard selling. Your chances of renting are higher if there is a good relationship & atmosphere.
The 7th Step is finally negotiate your price to a amicable conclusion. Your preparation, market survey and frame of mind will help you in concluding the rental smoothly.
The 8th Step is to collect a deposit (normally 1 month) from the intending Tenant and together the two transacting parties signed a Letter Of Intent stating the terms & conditions of the rental and the works need to be done to the property.
The 9th Step is to prepare the formal Tenancy Agreement to be signed by both parties & legally stamped. The stamp duties shall be paid to "Commissioner of Stamp Duties" at Inland Revenue Authority of Singapore, Revenue House, 55 Newton Road, Singapore 307987. Please check with lawyers & qualified property consultants for the Letter of Intent & Tenancy Agreement and their respective charges. This is just a guide. Please consult the lawyers for your legal needs. For Renting Tips, visit Anderson Property Consultants .
We hope you are more confident now to rent out your own property. Have confidence in yourself. Go ahead & sign up with us. Click Register . You can start planning where to go for your holiday with the Cost Savings. Need our property consultant for help & assistance, email : admin@andersonpropertyconsultants.com or call Vincent 96816288.
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