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Essential Tips for Finding an Apartment

2017-09-17 ShanghaiWOWeng

Look we have a confession to make that you already may have suspected- we here at Shanghai WOW! don’t know everything. We do, however, know people all around this city with expertise in countless areas. This week we talked to one such person, Andreja Miletić, a Property Consultant with Zhege-Nage here in Shanghai. We asked him to share some of the most essential tips for not getting completely screwed while finding an apartment. Here’s what he had to say.

 


Go for recommendations rather than agencies 


The best way to find an apartment is just to take over someone’s lease or to get a recommendation for a company that rents apartments. This will save you time as you will not need to wander around the city visiting bunch of disaster apartments, and at the same time it will save you money as you can avoid paying extra for an agency fee.

 

If you do choose an agency, don’t give out your budget unless it’s a trusted, recommended agent. Instead, give them information about layout and the area you would like to live in.

 


Here’s a fun fact you probably could’ve guessed: agents do not even know what they are showing you most of the time. When you go to see an apartment, it is very likely the agent’s first time there as well. That is because there are just too many apartments in Shanghai and agents get their information from the landlords which they post online. Agents are chasing commissions and the higher they sell you the apartment the higher it is, because of that, the wisest option is to not reveal your budget until/unless it’s absolutely necessary. You can ask your agent to tell you prices upfront before viewing.

 

Do not go for old lane houses. The “make up” is done well, but the outcome is often disappointing

 


Viewing an apartment in an Old Lane house can be exciting. They’re often cute, cozy European-looking and it can be very tempting to consider one. But once you sign the contract you might soon thereafter realize there are some harsh realities to these old places.  Old Lane houses usually have bad insulation, thin walls, problems with hygiene and (as you’ve surely heard from friends with these homes) old crabby neighbors who with nothing better to do than complain every time you so much as sneeze. It’s not always a disaster and there are surely success stories and exceptions, but by-and-large most expats in these homes switch to high-rise building as soon as their contract ends.

 

Negotiate the final price with the landlord

 


If you want to confirm the apartment, give a ridiculously low price and say you want to sign now, you will figure out quickly the lowest price of the apartment from the agent, but then the real price talk starts with the landlord. If the landlord agrees to come and meet you for the signing of the contract as soon as you give your price for the first time it means that you can talk to him on the spot on lowering it even just a bit more. Giving a ridiculously low price might give you a “NO” from the landlord, but insist on meeting with him and talking the price personally – agents do not decide the prices, it all comes from the landlord.

 

Companies that rent and manage apartments provide much better services, but that comes with a higher price



In Shanghai you mainly have 3 types of rentals: Taking over someone's lease, signing with the landlord through an agent or signing with the Company who is the landlord of the apartment – commonly called “Second Landlords”. These companies have long-term lease agreements with the landlords where they renovate apartments and sublet them to clients. They are a perfect solution for clients who are looking for a better quality housing services, as they are more than just a landlord. The Company can help you with moving in, registrations at the police, buying new things for the house, all the repairs etc. However, their prices might be higher than renting directly with landlords as they invest in their properties and their services are good. Renting the apartment that is managed by the company is ideal for expats with housing allowances.

 

Be patient but reasonable



People who have not yet arrived to Shanghai usually have the incorrect impressions about real estate prices. Many agents receive requests from clients asking to find whole apartment at the price less than RMB 4000 at prime location, utilities included etc. That would have been possible if it was year 2007.


Be patient and take your time to check the market and prices as they can vary depending on many things. Once you see the apartment that you like and it is within your budget (making sure you didn’t give away your budget before, but heard the price first from the agent) book it immediately as good deals go really fast. It happens many times that while you are taking your time to think, someone else is already signing the deal. That can be frustrating if you don’t have much time to search and it usually ends with someone hastily going with a bad option.


Andreja Miletić

Property Consultant

Zhege-Nage (www.zhege-nage.com)


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