Trying to rent out an apartment since 2 months, but so far not much responds. Wondering what is wrong with it. It’s not too expensive, it’s newly renovated, got some furniture, great location. Is it the economy, the “no pets allowed” or what? Any idea?
Gimme the rent, pings and location and I can probably tell you. A picture would help as well.
Yeah, if you provide some pics and more info we can give a better answer, but one thing is that there are zillions of empty apartments now, so it may be hard to attract the attention and interest of renters, especially if the price isn’t a real bargain. BTW, do you have someone spreading the info on the Chinese language boards for you? My landlady asked Dragonbabe to do that, and she helped get an apartment rented out very quickly. If you don’t have time to, perhaps you could find someone to do that, and offer them a couple weeks’ rent as their fee?
Yeah, we put it on all the Chinese websites and just recently on Taiwanted. Maybe we’re not active enough? Here’s the link. It’s about 27 ping and we want 25k, which is actually cheap for the location. OK, the furniture is not the most beautiful one, but hey, got a fridge and a western washing machine and a brand new bathroom. I’d take it again, but I said 886 to Taipei.
That apartment is ok, and the price is somewhat reasonable but to be honest, it’s not a good deal in my mind. You can find better apartments for less money. I think your apartment is kind of “in between”. Its too expensive for someone without a lot of money and not nice enough for someone with money. It also doesn’t have any real character or attraction to it and the economy is not good right now.
You can probably rent it eventually at 25K, but i don’t think it will be easy. It should go quickly at 20-22k but i understand you probably don’t want to go that low.
Honestly, the furniture you have in there detracts from the place. I would either make it look homey and nice, or get rid of all the furniture.
I lived very near there when my son was born in 03. Had about 23 pings and rent was 15000 the first year, and got a discount to 13000 after that. Your appartment is a little nicer–especially with the bathroom and the washer. I’d say the previous poster’s suggestion of looking for 20-22 grand is about right. Hope this is useful for you.
[quote=“chainsmoker”]That apartment is ok, and the price is somewhat reasonable but to be honest, it’s not a good deal in my mind. You can find better apartments for less money. I think your apartment is kind of “in between”. Its too expensive for someone without a lot of money and not nice enough for someone with money. It also doesn’t have any real character or attraction to it and the economy is not good right now.
You can probably rent it eventually at 25K, but I don’t think it will be easy. It should go quickly at 20-22k but i understand you probably don’t want to go that low.
I think that’s a pretty good appraisal right there.
That’s probably the most expensive area of all Taipei/Taiwan, so 25K is probably not that far off. But how old is the building, is there an elevator? How is the noise/pollution level on the third floor? What kind of neighbors are there? Is there a guard downstairs?
If I had 25K to spent I’d look for an upper floor apartment in a 13+ floor building with elevator, guard, good views, clean air, no noise, and civilized neighbors. Or I would buy my own flat. If you have 25K to spent on rental you probably have some savings for a down payment.
The apartment looks really nice. Two air cons, washer, fridge, TV, decent furniture and very nice bathroom. I can’t say, though, because I’m in Kaohsiung and that would be worth about 15-17k here in a prime location. I’m renting a whole house with 4 floors and a large underground garage for 15K. About 75 pings, and the house is pretty new. Taipei is EXPENSIVE!
Did you post on parentpages? There are some families that are moving into Taipei and they were looking for places and getting totally ripped off by their agents. You might have to offer helping remove furniture if they have their own, though.
I agree with all of you, but since we had it renovated 2 months ago and it’s a superb location, we don’t want to go for as low as 20k. It’s a four storey old building, but noise pollution is reduced to the usual neighbour noises. Might be the economy, I guess you got a point there. What is Ma doing anyway, didn’t everybody say it’s going to get better?
2 months without having it occupied and you lose a minimum of 40k. That’s over 3k per month over a year. 3 months with no one renting it and you’re looking at 60k that you are not getting. That’s exactly 5k a month for a period of a year.
In other words, you have a window of three months to rent the place at 25k, any longer than that and you lose as opposed to renting it for 20k. That’s if you can rent it faster at 20k. (You should be able to.) Tough call, I’d say. The bottom line is if you don’t think you can rent it within 3 months at 25k, but have good chance to find someone at 20k, maybe it would be more financially sound to reduce the price.
and perhaps you should put in some english words as well
It looks really nice to me and great location, but I can’t read chinese, so I have no idea what the blog is offering…
and if you want to link it to parentpages.net as asiababy suggested, I think they would like to read it in english too.
-are you renting out for limited or unlimited time?
[quote=“miso”]I agree with all of you, but since we had it renovated 2 months ago…[/quote]You need to get those those cowboys back in, they forgot to pad the walls.
Nice touch with the bathroom tiles on the living room floor though.
Well, that’s Taiwan style. We didn’t take out the floor, that would have cost us another fortune. Just did the most necessary, fix the leaks, get a new bathroom, new window and new front door. It’s now pretty nice, actualI agree with the 20k, but we haven’t found anybody for 20k either. The landlords don’t speak English, only the son and he’s not around too often, so it might be tricky to rent it to foreigners. Mafan for them and for the foreigner who rents it unless you speak Chinese… sorry about that.
It’s nothing to do with Ma. Unfortunately the housing market has died and its not going to be reincarnated until much later. A few months ago when we were looking to rent a place in SHilin we left our details everywhere and it took three months just to find three places for rent. We eventually chose one that was roomy and for the right price.
Just two weeks ago my wife was inundated with calls from agents as now our street is full of places up for rent.
Landlords have realized they can’t afford to sell as the fetching prices are too low and people are going into negative equity, so instead they choose to rent, bringing down the rent prices overall. When we were looking a 40~50 ping in this area was around 50~60 thousand nt per month for a nicer one, but now its 40,000+. Be prepared to drop your rent to compete and remember that there are many empty apartments in Taiwan, its just a matter of time before people start scrambling to get what they can. Of course I can’t say when it comes to your area specifically.
Do you own this place, Miso? I thought you might since you mentioned making the improvements and repairs to the place (new bathroom, and so on).
However, you then mentioned that the landlords don’t speak much English. So, are you just trying to help them out by finding someone to rent this place out?
Just curious, and best of luck to you in finding a tenant.
bathroom tiles in the living room = “that’s Taiwan style”
so is plastic furniture
Well, it’s the parents place and we’re helping them rent it out. We are not around to help with English speaking tenants and the brother is busy working so won’t have time to help out either. So locals or Chinese speaking foreigners it is.
Done deal, rented it out a couple of days ago. ;-))