Apartment lease question

Old Jul 31st 2013, 10:57 am
  #1  
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Default Apartment lease question

Hello All,

I'm new to the forum and would appreciate input on this issue:

My husband has been offered a Local Plus pkg (for 3 yrs, then going local - is that normal? If not, shall push back on that) and the housing allowance in the initial offer that the company will lease a place for us and we pay utilities (again, standard?).

Would it be better if we leased the place ourselves? I assume if the company specifically mentioned the lease would be in their name, it is somehow to their benefit. Should we change this?

We've been expats in 2 Asian countries before, but on full expat pkgs back in the glory days! LOL

Thank you for your advice! Liz
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Old Jul 31st 2013, 11:22 am
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Default Re: Apartment lease question

Might be normal but does it matter it's the way things are going.
At times when I was on an ex pat package the company would give me a budget the missus would find a place and the lease would be signed by the company and paid by them monthly by cheque with me being one of the signatories on the cheque due to my position in the company.

When we owned an apartment we always wanted to lease to a company rather than privately. It just had more security than a private lease where an individual might leave before the 14 month period.
With more companies getting out of leasing directly we decided to sell our place.

Why not ask the company what the budget will be then find the place within that budget and then let the company do the leasing etc.
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Old Jul 31st 2013, 12:25 pm
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Default Re: Apartment lease question

Thanks ex reg, we have a housing allowance amount in the first offer (too low - must negotiate higher), just wondered if we should take it as cash and rent something ourselves or let company sort. Will follow your advice and let them sort it out (we have a house hunting trip).

Without the full expat pkg I feel a bit like I'm flying without a net, but I know full pkgs for new hires is a thing of the past (nearly). Singapore is tempting though!

Is there anything, in your experience, that we should be wary of - sort of a 'gotcha' that we wouldn't think of? I think I've spent too much reading forums and have got my radar up!

Thank you again!
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Old Jul 31st 2013, 12:54 pm
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Default Re: Apartment lease question

I don't know what a 'local package' may or may not include.

Been retired a long while.

If the company your husband is working for is a MNC and your husband has been with them a while then don't worry too much the package must be near enough standard.
As you'd know ex pat packages would include:
-medical
-transport (car and petrol ) and flights back to UK regularly, maybe business class for the whole family
-accommodation, sometimes given as a lump sum to be used by you and any left over is yours
-moving allowance
-6 months min entrenchment period or cash in lieu
-higher salary
etc.

Even if he is on local terms there's no reason why he shouldn't calculate which of the above may be most beneficial to you and try to negotiate it.

Of course depending on his usefulness to the company and how easily they might find someone else to do the job then the harder he can negotiate.
I know you understand all this anyway.

The one thing with local packages that I'd find difficult would be if the other ex pats in the company were on ex pat packages and I was the only one or first one to be on local terms.
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Old Aug 14th 2013, 8:03 pm
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Default Re: Apartment lease question

I have been looking at roles in Singapore and many are now local plus as rich allowances are no longer needed to entice people to come and work in SG. I would let the company rent the apartment for you. It takes the paperwork away from you. We are going to SG next month as local plus and one surprise I had was that we are expected to pay a real estate agent's fee (= one month of rent) - not a small sum given the huge cost of renting in SG. I guess if the company is taking the lease cost, they might also cover this for you. Suggest you try and negotiate on the utilities costs. If the company is willing to pay the rent, then why not utilities too, not that much extra. We'll be paying our own but reckon you should try to negotiate - if you don't ask, you definitely won't get! 3 years and then fully local is quite standard. 2 years local + and then fully local also common.

Good luck with the move!
Regards
Caroline
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Old Aug 14th 2013, 9:21 pm
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Default Re: Apartment lease question

Originally Posted by ctfarrer
We are going to SG next month as local plus and one surprise I had was that we are expected to pay a real estate agent's fee (= one month of rent) - not a small sum given the huge cost of renting in SG.
Be in no doubt it is down to the owner to pay agents fees, which are one month's rent per two year contract or pro rata for shorter contracts.

If someone, owner or agent or both ( or your company ) are telling you different then they are trying to con you and you should look elsewhere.
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