Monday, September 27, 2010

Bike For Hire

The way we phrase things tells a lot about what area of the world we live in.  When we were in Singapore we noticed that they do not use the word "rent".  As the housing agent was driving us around she would point out areas where we could "hire" a DVD for the night.  I was thinking hmmmm just what will that DVD do for me if I hire it?  In reality it will entertain us but I just found it odd that we could "hire" a DVD, we could "hire" a bike for the day etc...

We also noticed that when you do want to "rent" an apartment it is very different than how it is here.  Usually in the states you see the apartment, know what the rent is,  sign a lease if the landlord likes you and then pay the first months rent with a security deposit.

 In Singapore you see the apartment and then ask for a second showing of the ones you like.  At the second showing you make a list of the things you want the landlord to do before you rent their apartment.  We asked for some blinds and curtains and for the installation of ceiling fans in the rooms.  It is new construction so this is not a big deal to ask for these items.

  After you have your second showing and your list, the housing agent writes up a "Letter Of Intent" which you present to the landlord.  In our LOI we offered less rent than what they were asking as rent is a negotiable item over there.  The landlord then made a counter offer of which we accepted.

When presenting the final Letter Of Intent you must include a refundable check for the first two months rent plus an additional months rent for the security deposit.  We discovered today that the landlord still has not signed our LOI that was accepting her counter offer.  This means that we do not for sure have a place to live yet.  We are assuming that she will sign it since we agreed to all her terms however, she can still show the unit and if someone else makes a better offer she can accept that even though she has our check but she would have to give the check back to us if we do not actually move in.  It is very weird to me that there is no time limit on her to sign the LOI that was submitted to her.  I am sure after we live there a bit we will understand this better. 

In the mean time we are happy we can hire a bike for the day so we do not have to ship ours.

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