The real estate competition is heating up as more and more people choose to rent instead of purchasing. This demand is then increasing the number of tenants in some Asian markets. Consider these statistics, according to an International Union of Tenants report, about how every one in four home tenants spend more than half of their income on utilities and rent.
As people choose a rental home, it is best to start looking at the smaller places in those areas that you might otherwise not looked at. Overall, you will be paying more for whatever you are looking for. If you are just starting out on looking for a new unit, you will have to put more effort and carry out homework before you settle in a single place. In addition, you will also have to be savvy when it comes to negotiating your monthly dues.
Below are a few tips that will help you find the best apartment deals in and around Asia.
What are you looking for in a house? Do you want a single-family or a condo unit? Maybe you are looking for a small comfortable house? What are the amenities you require most? If you have kids, should the property be close to a school or your work? How far are you willing to walk for retail like coffee shops or groceries?
Working with Property Websites
To find a suitable property, you need to arm yourself with the skills on how to search for one. For many, the search begins over the internet. It is critical that you know what sites will help you find that apartment or home you are looking for. Find a site that allows you carry out your search by capering and analyzing prices.
Through Word of Mouth
Apart from surfing listings on the web, ask family members and friends to join in your house hunting project. Sometimes, you will find a great property through your connection before it even goes on the market. Whether it is over dinner or social websites, tell all your acquaintances that you are looking for a house and its specification – you never know, you might land on a great deal.
Watch Out for Single-Family Units
A bargain hunter should consider leasing a unit from accidental landlords. These are single-family unit homeowners renting out their properties because it is difficult for them to sell in the market. Such properties are cheaper than other choices because, partly, they may not have the same standard amenities and owners want to encourage tenants to take up the houses. There is also a chance that the homeowner may not be aware of the exact going rate in an area.
Peek Beyond the Usual Listings
Are you finding it hard to find something for yourself? Go a step further and look at the for-sale listings. If a property has been on the market for a long time, contact the homeowner or agent to lease out the unit to you. This is a good way to get a great deal. Properties on the market for a long time, put lots of pressure on the owner; unknowingly, you could provide some relief to the seller or owner.
Assess Whether the Fee is Fair
Once you find a place that is compatible with what you are looking for, search and compare similar offers to ensure that the given rate is competitive compared to the rest. Some property listing websites offer you an area where you can compare a listing with others. The “rent meter” helps you analyze a particular option compared to others within the same neighborhood.
Print out the options and use them as a negotiation tool with a landlord (if it is possible) for lower prices. However, you should understand that in areas with lots of competition, you may not get a unit at a price you want. As you negotiate the fees, be ready to let the place go.
If you have a great job and good credit, mention it to the landlord. Credit does make a huge difference considering that not too many people have great credit. With many individuals changing jobs frequently and missing bill payments, an individual with a great credit record will surely shine. Make the information known as you negotiate on price.
Finding a house to move into can be a bit intimidating. However, the tips above can help find an apartment that is within your budget. Experts advise that as you search for a house to move to, take a look at your monthly income statement. The recommended rent and housing rate should be about 25 percent of your income, according to Quicken. Remember to factor in other costs such as utility bills when searching for a new home through DDProperty free classified ads.