Property Agents' commission

[LPPL]

How would you know that the prospective tenant would not want those at the beginning of the marketing of the unit?

What he meant was eventually the tenant that came along didn't want furniture. Edited November 17, 2017 by LPPL

[Kusje]

How would you know that the prospective tenant would not want those at the beginning of the marketing of the unit?

 

I don't.

 

That's why it is better not to have it. If the fellow wants, we can provide (depending on how we negotiate the price). If he doesn't want and I have it, then gotta sell or throw away?

[LPPL]

Used furniture these days so cheap if buying for tenants. Just look at what people on carousell are selling, often cheaper than the moving cost.

[Kusje]

Used furniture these days so cheap if buying for tenants. Just look at what people on carousell are selling, often cheaper than the moving cost.

 

It's not just about the price but the hassle.

 

For me, I'm only trying to rent out a studio and not asking for above market prices so it ain't worth the hassle of bring 2nd hand furniture and then having to resell it if the tenant doesn't need it.

 

For me, the room is right there for the prospective tenant to see. If they say they want a fridge, I will say I can provide one. If they want to buy their own fridge, even better.

[LPPL]

It's not just about the price but the hassle.

 

For me, I'm only trying to rent out a studio and not asking for above market prices so it ain't worth the hassle of bring 2nd hand furniture and then having to resell it if the tenant doesn't need it.

 

For me, the room is right there for the prospective tenant to see. If they say they want a fridge, I will say I can provide one. If they want to buy their own fridge, even better.

I would leave it unfurnished first and if tenant wants it furnished, I can get the house furnished in under a week for few hundred bucks (sofa, fridge, tv, washer, tables, chairs n beds).

[Icedbs]

I don't.

 

That's why it is better not to have it. If the fellow wants, we can provide (depending on how we negotiate the price). If he doesn't want and I have it, then gotta sell or throw away?

 

I think the agent is advising from experience point of view in terms of speed of renting it out.

 

In Singapore, most tenants looking for studio or 1-bedder is expecting the unit to be fully furnished.  On the other hand, for 2 or 3 bedders, they mostly want it to be partially furnish meaning just white goods and no furniture.

 

And it is understandable. Tenants looking for studio/1-bedder are mostly foreign singles or couples.  They just want to move in and stay without the hassle of lugging furniture around.

 

Tenants looking for bigger units are families, either expat families or locals. These guys have their own furniture so they prefer units that are partially furnished.

 

Of course, there will always be some tenants who are exception to the above, but if a landlord want to rent out fast, then he should follow the general trend to capture a larger tenant pool.

 

So I guess your agent is just advising from observation and experience., ultimately it is up to you.

Edited November 17, 2017 by Icedbs

[Deckbuild]

So many agent hater here =X

[LPPL]

So many agent hater here =X

Not all agents, just some agents like that of 90210

[Newera]

Does some agents still ask for "coffee money" for you to secure a property, on top of their regular commission?

If yes is it legal?

 

It happened to me once but I was green then.

 

"coffee money" never... top up did encounter once. But it was worth it. 

[Kusje]

Does some agents still ask for "coffee money" for you to secure a property, on top of their regular commission?

If yes is it legal?

 

It happened to me once but I was green then.

 

Is the agent your agent or seller's agent?

 

If it is your agent then it is of course legal because there is no such thing as a regular commission. the % commission is always supposed to be a negotiation between yourself and the agent (can be anything from 0% to 10000% or even more  ).

 

If it is the seller's agent then it is against some law and you can definitely report him. 

[LPPL]

90210 has collected commission from buyers before even though representing seller. This is one of the most jialat agent that ever existed in Singapore. The money was requested in cash so there won't be any trace. Someone I know was involved in the transaction.

Edited December 1, 2017 by LPPL