Mister T moves its blog to its website - WWW.MISTERT.LK

WE ARE MOVING...

Please visit the Mister T website and keep a tab on its blog as most of the information relating to the real estate market will be found there.

Please click here to visit the official blog on the official website of Mister T.

3 BEDROOM APARTMENT FOR RENT AT HAVELOCK CITY

AFR0052

12th Floor- New Tower
1500 sqft (approx)
3 rooms (One master with attached)
3 washrooms including the servant's
Fully Furnished
Fully Air conditioned
Hot Water
Kitchen with pantry
Servant's room
Swimming Pool
Gym
Club House
Open Garden (The biggest garden you will ever get in Sri Lanka)
Luxury specifications
Main Line water
One parking slot
Cable TV, Wifi, telephone,
Super tight security
Hydraulic Gas

Minimum period - 01 year
Rent USD 2100 per month
Refundable Deposit - LKR 500,000/=
Bills to be borne by the tenant - Electricity, water, gas, internet, cable tv and telephone
Owner will bear the management fee
Exclusive for foreigners (Family or a couple)
Payments Terms: Everything to be upfront

See pictures below:

Please write to info.mistert@gmail.com if you want to rent this beautiful apartment. 

3 BEDROOM PARTIALLY FURNISHED HOUSE FOR RENT IN KOTTE

REF NO: HFR0026

- Newly built house in Kotte
- Architect designed
- 20 perches 
- Near Overseas School in Colombo (10 minute drive) 
- 4300 sq feet. 
- 3 Bedrooms. 3 toilets. (All Grohe fittings, soft closing seats etc) 
- Study Room 
- Family Room
- 1st Floor is completely air conditioned Laundry room
- Fully equipped modern Pantry( soft closing drawers etc)
- Curry Kitchen
- 3 balconies
- Large garden
- Roof top terrace
- 2 car garage. 
- Remote controlled gate
- Staff room and bathroom

Hot water. CCTV cameras. Sensor alarms. Generator. Pond/fountain. 2 courtyards. Telephone and cordless. Wifi. Flat screen Tv. Blu Ray player and Home theatre system. Door bell monitor and cordless. 

House will be given partially furnished

Very close to Water's Edge - pool, spa,gym, jogging track- less than 5 minutes away)

Minimum Lease - 1/2 Years Lease
Rent: LKR 330,000/month
Payment terms: Flexible
Preferred Clients: Expats 

The property can be viewed on Tuesdays and Wednesday with prior appointments. 

Please write to info.mistert@gmail.com with the Ref No as the Subject if you are interested in rentng this property. 
See pictures below:

The Types of Clients Involved in Property Rentals!

When it comes to agreements especially in the case of renting out a property, there are few variations and it can heavily depend on the attitude of the owner. In most cases, the owners are always flexible as they are not too fussed on the agreement if they feel the client is good and would look after the premises properly. Let us study some situations that you as an owner might come across when renting out a property. 

Renting out to Embassies and NGO's

This is a very interesting category. Here is what we have observed with Embassies and NGO's.

a. Some may have their own version of the lease agreement and there is no need to freak out and call the deal off if you are unhappy or uncomfortable with some of the clauses. You could always ask them to consider taking off / removing such clauses. 

b. Security refundable deposit - since this is a grey area unless a real estate agency is involved in the process where the owner can at will deduct as he / she wishes, certain embassies and NGO's do not pay a security refundable deposit but instead they assure the owner that nothing would go missing or be damaged for that matter and if that does happen, the particular embassy / organization would look into it and resolve it for the owner. Remember, basic wear and tear is accepted. 

c. Some have security checks and the team comes over to inspect the premises before giving the green light. Of course this is part of the process as they are concerned and answerable to the families of their employees who come over to this part of the world. Hence, a quality assurance team may visit the apartment to give the security clearance. 

To read about terms to know when renting, please click here. 

Renting it out to Companies 

There are many occasions in which companies that come here for business look for accommodation for their directors and other staff members. Below are our observations:

a. Running the agreement through their HR / Legal Department. 

This can be a hassle if the lawyers are not flexible and try to show that they know more than the other lawyer (of course, this is open for argument as each lawyer thinks differently). We have had issues with zero-probability matters concerning both parties which eventually go as the owner wishes at the end of the day unless there is a desperate owner wanting to rent it out somehow. This generally takes few days  for the green light to come or for amendments to the agreement. 

b. Registering the agreement

Most of the companies are quite adamant on the registration as it legalizes everything. Although it's important to build a great relationship with the owner, it is also equally important to understand the pros and cons of registering the agreement. It is always advised and recommended to register the agreement in order to avoid any issues in the future and to be properly covered but it must be mentioned that the owner to a certain degree can decide whether he/ she wishes to register it or not. 

Renting out to Individuals and Families

This is mostly for those that come through 'relocation' or simply like to find a place on their own or for those who just like to spend time in Sri Lanka when they are in the retirement age. The observations are pretty simple when it comes to this category as most of it is open for discussion and the levels of flexibility are extremely high from both sides (tenant and owner). 

a. Everything depends on what is agreed upon. Since there is no company or embassy with policies and rules to follow, you can take a long breath and sort out matters without being pushed around or anything of that sort. 

b. The only risk for the property owner is that if the client turns out to be an absolute nightmare. This can happen. Yes! It can happen which is why it is always recommended to go with a reputed estate agency that carries out a background check on the client. World class agencies like Mr. T - The Real Estate Giant do not do it for the money, if they are unhappy with the client, the deal ends there. 

There is more to the above, please do continue reading this blog as more and more information will be available on the practices of renting and selling real estate in Sri Lanka. 

2 Bedroom Apartment For Rent at Spathodea Residencies - Colombo 05

REF NO: AFR0020

- Superb Location
- 2 Bedrooms 
- Standard Layout
- Living area with balcony
- Modern Kitchen 
- On the 6th floor
- 1300 sqft
- Linen Sets available
- Servant quarters with entrance
- Internet, cable network, phone line.
- 24 hour security
- Fully furnished and air-conditioned
- 1 parking slot

Minimum lease - 1 year
Designed according to the feng shui style
Pool and gym along with a nice rooftop to go jogging in the morning
Convenience at its best with banks, supermarkets, malls and restaurants all around. Utility bills to be borne by the occupant.

RENT: LKR 170,000/month
Email: info.mistert@gmail.com

See pictures below:

Vacancy for Sales and Marketing Executives

JOIN US IN OUR QUEST TO REVOLUTIONIZE THE REAL ESTATE INDUSTRY IN SRI LANKA

Tri-lingual Agents in Colombo

When it comes to picking an agent in Colombo, it's best to pick someone who knows all the three languages that are being used in the country.

Not many agents specialize in this. Picking an agent who knows or rather understands all three languages can be a bonus if you are able to build a really good relationship with the agent.

The agent can save you a whole load of money and also save a lot of your time and make things easier for you to figure out.

At the end of the day, the important thing about picking an agent is to ensure that your real estate experience is worth sharing with other people.

Enjoy your real estate ride with good, smart and intelligent agents.

APARTMENTS IN COLOMBO - AVAILABLE FOR RENT

Below are a list of apartments that are available and you can view the listing if you click on them.


Seagull Residence - Colombo - 3 Bedroom Apartment

Emperor - 3 Bedroom Apartment

Havelock City - 3 Bedroom Apartment 

Trillium Residencies - 3 Bedroom Apartment 

Crescat Residencies - 2 Bedroom Apartment

Premier Pacific Pinnacle - 3 Bedroom Apartment

Please write to info.mistert@gmail.com if you are interested in renting out any of the following apartments.

Thanks.

Why Clients like Mister T

It has come to our knowledge that Mister T is slowly becoming the preferred Real Estate Agency in the country with so many calls from clients, emails and other leads generated through the company's marketing strategies. The most effective being word of mouth. It's spreading like wild fire!

Below are a set of reasons on why clients like us:

- We are honest to the core - Honesty is the main pillar on which Mister T stands.

- Money is not our focus, the service is and in most cases we spend on deals unlike other Agents/Agencies.

- We respond within 24 hours and are contactable 24/7

- We have a fan base of approximately 63,000 people following us on social media

- Our Blog has amazing views from all over the world

- We use the international standards and traditions with a pinch of local essence

- Our clients are well-respected and reputed clients who value honour, dignity and kindness

- We are a registered agency with proper systems in place

- We are backed by a giant who has been in the trade for over 30 years

- We specialize in condominiums and have a solid idea of what's in the market

- We provide the legal service to your doorstep

- We facilitate right up to the end of the deal and build a lifelong relationship with our clients

- We are reliable and responsible in what we do

- We love what we do!

The mystery behind the security refundable deposit

Many a time, we have come across property owners grumbling and getting too worried about the security refundable deposit.

The standard norm of collecting 01 month's rent as a security refundable deposit.

The above option is best used when the owner is able to collect a large amount of the rent in advance or upfront. Although it is best advised to screen the client, it is also equally very important to maintain an amazing relationship with the potential tenant as that would minimize a great deal of risk.

The word 'Standard' is mentioned because that has been the standard in the country when it comes to the rentals of homes and apartments and sometimes commercial buildings.

When should you ask for a 03 month's security refundable deposit?

This option is mainly resorted to if the rent is being paid on a monthly basis or the if the number installment payments is higher side. This too is very tricky when it comes to apartments and expats as many expats who are here on a salary tend to limit the security refundable deposit to one month and then pay on a monthly basis from there on. In such instances, it is of utmost importance that the property owner screens the client and if possible, obtains a letter from the potential tenant's employer or gets to touch base with someone known to both parties.

Is it fair to ask for a security refundable deposit of more than 03 months?

It is unfair if you are renting an apartment or house and getting the upfront money as well. Generally, the deposit is high on business premises and not residential properties. Sticking to 01 month is best if you a getting a decent amount upfront or else sticking to 3 month's is okay if the rent is paid on a monthly basis but it's not advised to increase the security refundable deposit just like that. The situation has to be considered and it's always good to be flexible on that.

Is it good to stick to a flat rate?

Some owners like to stick to flat rate as they have this insecurity ingrained in them that the tenant may damage a great deal and there will not be enough to compensate for the negligent wear and tear in the devised premises. In this instance, it might be best advised to stick to a flat rate which could less or more than a month or two of the rent quoted.

Other important aspects to bear in mind when determining the security refundable deposit.

The quality and brand of the furniture in the property plays a major role when determining the amount of the security refundable deposit.

Proper screening of the client, this is the main bit. If this is done properly, you would know how much is a safe figure for you to give out the apartment.

Standard market practice is also advised to be studied and researched so you know you are not making a fool out of yourself.

Seek the advice of a property consultant or property agency and get their input on the matter.

Inventory Checking!!!

Do you check the inventory when you move in? How does this work? Who checks and how do know whether this is not going to cause a problem later on?

Interesting questions indeed!!!

In Sri Lanka, a country where its people extremely hospitable and friendly, things work slightly differently unless you bump into serious, scary and stone-hearted property owners.

As a pre-requisite, the owner should have the inventory prepared. If the inventory is not prepared, a real estate agency could do the job.

In most cases, the inventory is casually run through and it does not take much time to sort the items in the property (if the property is not huge!)

Generally, inside the 1st week, you as a potential tenant must inform the owner of any discrepancies where the inventory is concerned.

If you could do this, then you can be sure there won't be a problem at the end.

If you have any questions regarding the above, please send an email to info.mistert@gmail.com

Thinking of undervaluing the figure on the deed? DON'T!

Many lawyers and property buyers try to play around by undervaluing the figure which is supposed to be placed on the title deed, so a lesser stamp fee is paid to the government.

In some cases, Lawyers also think they know better and advise good, genuine people too place a lower figure on paper.

The reality is that the government officials are not fools, they are way more smarter than we think and understand the game better. At the end of the day, it's the government official (Assessor) that makes the call whether the value is less, too less or just about right.

What happens if they find out you have undervalued? 

Have you ever thought of that?

Chances are that they would make a visit to the property, do a fresh valuation and then place the figure they think is the value of the property and then issue the stamp fee. For the first LKR 50,000/= it's 3% and then for the balance amount it's 2% and on top of that, there is a penalty / surcharge of 15%.

You have to pay that and then they seal the original document which means you have paid the required the stamp duty fee to register the property.

So be very careful and get it right the first time.

Mister T brings reliable clients. TRUST matters more than anything!!!

At Sri Lanka's number 1 Real Estate Agency, there is special emphasis placed on the clients that come in for rentals. Mister T has seen it all. The good clients, the naughty clients and the not so good clients.

The Agency not only has a huge fan base on Facebook but also knows pretty much how to connect the clients in a way where they can screen the clients and advise the owner whether to go for the deal or not. A rare quality among the agents in town.

Sri Lanka is developing at an amazing pace and more and more deals are hitting the table allowing more and more people to get in and share a piece of the cake, at Mister T, we value the relationship more than the money as we are here to stay.

Get in touch with the Agency if you are interested to work with them and enjoy a fruitful experience.

The Tranquility - Hottest Deal in Town - BOOK NOW!!!

The Tranquility is designed by a Geoffrey Bawa Award Winning Architect 

PROJECT DETAILS

A total of 11 properties with 08 apartments, 02 penthouses and 01 villa along with a roof top with luxury facilities. Built on a 22 perch land with tight security in a peaceful and serene neighbourhood, The Tranquility is the epitome of a fantastic holiday hideaway not too far from the city of Colombo in a classy location.  The floor plans are as follows:

APARTMENTS 

 

PENTHOUSES

VILLA

ROOF TOP ARRANGEMENT

Other Information

• The project is approved by Sampath Bank and loan facilities could be arranged. 
• The apartments are very spacious as opposed to many of the same complexes in town.
• The prices are very reasonable and are bound to shoot up in the years to come. 
• The project is expected to be complete by 31 July 2016.
• The payment plan is very flexible and buyer-friendly.
• The fittings and finishes are of high quality. 

You can find out more details if you visit www.thetranquility.lk

Please feel free to contact Mr. Adam on +94 767 582 458 should you require any further information on the above project.

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