1. You can negotiate on the renewal fees from the beginning prior entering into tenancy agreement. It can probably boil down to who is the more desperate party, landlord or salesperson. If this aspect cannot be agreed on, deal will fall through, landlord needs to restart in searching for another prospect probably through another salesperson. If salesperson is desperate because they have not closed a case for sometime, they may just accept that there is no renewal fees applicable.
2. You are probably quite right that there is minimum effort for the renewal process since no marketing costs involved, however, in event that tenant does not renew, you have to restart the whole process of handing and taking over, marketing the property for rent and probably result in loss of rental income for maybe 1 week or more? The process of negotiating a renewal could also be tricky. For example, I am negotiating on behalf of tenant (I represent tenant) in a renewal case where landlord is finding it difficult to reduce the rental. The loss of rental income could be more significant that how much the salesperson spend in marketing for your unit due to change of tenants.
Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.
Claim your free home report today at http://bit.ly/ClaimFreeReport.
Visit and Like my facebook page at https://www.facebook.com/propertyblogshop/
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My self introductory video on https://youtu.be/6UfrCOCB6Mg
Regards,
Geryl LIM
Associate Marketing Director
Global Alliance Property (L3010679B) - Century 21
CEA Reg R014783H
Mobile:
+65-81577565
/+65-92787772
Email: geryl7772@gmail.com
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