dreamhouse 0 Report post Posted November 28, 2011 i rented out my whole flat and now is about time to discuss about renewal for another year...they have been pretty good tenant, so i don't mind extending the lease if the price is righthow can i find out what is the market rate at my area now?do i need to engage my previous agent to do paper work etc? or can i just do myself?anything else to look out for? Share this post Link to post Share on other sites
GaryLim 0 Report post Posted November 28, 2011 (edited) Its better to look for an agent. Because the document will be stamped. (need to pay stamp fee of course) And it's official contract endorsed meaning its a legal rental. Any break lease by the tenant, the agent's company (if big enough) will have law consultant to advice you on the actions to take. However, the downside is the cost, most agent charge half a month for every year's lease. With an agent, you can also ask him to take photos of the furnitures in the lease in the inventory list,...etc so that during the take over after the lease, you can deduct money from the deposit if there is any damages or lost. It's to protect yourself because everything is in black and white. However since your tenant is already with you for one year or two years, as long as you still have the deposit, you may let him extend stay for a month or two as long as he always pay rental in advance. But just hope he never turn back and bite you saying you refuse to return deposit after lease period. That's why I say with a legal document, it's better. If you need a good full-time agent, you can consider me if you cannot find your old agent or you want to try my service. I have property market analaysis systems to show you real time recent past transactions price around your area for you to find out the market rate and advice you accordingly with my professional knowledge accumulated so far. Good luck in your lease renewal. Gary Lim9888 5155 Edited November 28, 2011 by GaryLim Share this post Link to post Share on other sites
