[TIPS] How to rent an apartment without the help of property agent in Singapore?

Many people has a misconception that in order for a unit to be rented out or vice-versa, you need a property or real estate agent. The truth is you can actually do it yourself. Well, in the past where Internet was not so widely used, to a certain extend, an agent is usually required to do the job due to the work involved.

What rental agents do?

1. The agent needs to publicize the intention of the landlord to rent out the apartments, flats, condominums or house with details and indicating the desired rental price on the papers.

2. Another agent who incidentally has ready tenants will try to contact the agent putting up the advertisement in the hope tmatch the deal.

3. The agent will then liaise with their clients, the landlord and the potential tenants to the apartment or the material real estate for a viewing session.

4. The agent representing the landlord would provide a standard copy of a tenancy agreement which terms and agreement clauses can be found anywhere on the Internet for both parties, the landlord and the tenant to entered into a tenancy agreement.

5. When the deal is done, the agent who represents the landlord will take his commission which is equivalent to half of a month's rental fee if the tenancy agreement last for 2 years, the commission will be equivalent to a month's rental fee. As for the agent representing the tenant, he will get the same amount from his client.

But, as Internet became more and more widely used, this has really in my opinion eliminated the need for an agent to get involved in sourcing for tenants or landlords. Tenants and landlords can placed their advertisements anywhere like Property Guru to indicate their intentions without the help from agents.

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How to buy a private property with a little cash in Singapore?

Property price has rocketed everywhere in Asia. Due to the economic recovery, there are many people jumping into real estate investment which has further increase the prices of property. This article tells interested first-time buyer what there is to know when buying a private property.

There has been a trend for adults of age ranging from 29 to 35 are buying small private properties for investment. The small private property can be anything between 600 square feet to 750 square feet. Some of these apartments are also known as studio apartment. The fact that economy is recovering, many in these age group are mostly single and hope to jump into the band wagon to profit from the property boom that is expected to continue in its inclining trend in Singapore.

The most frequently asked questions by these group of people are -

1. How to buy a condominium with little cash?

2. Can I take a full loan?

3. Can I cover the loan with rental?

Well, the minimum sum of cash that you have to pay is not a small amount. The first payment is known as the booking fee which is 5 to 10% of the agreed amount for the purpose of the property or real estate. For example, if the property that you are buying cost $800,000, the minimum booking fee payable is $40,000. Parties will then entered into an Option to Purchase Position. This option is valid for 3 weeks. It will be exercised when another Sales and Purchases Agreement is entered with the balance down-payment paid to the seller.

There are many property websites that enable interested property buyers to surf and browse. But the comprehensive of all is Property Guru. It comes with listings as well as real estate calculators to check how much you will be paying for your real estate loan.

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