Before posting the listing, Ye Chen needed to visit a real estate agency. He wanted to list the property through them first.
He had no other choice. He had never rented out a villa before and had no idea how much the rent should be.
But for the real estate agency, this was no problem at all. Seeing the property deed, they could roughly estimate the rental value of the villa.
Of course, that was just a ballpark figure. The exact rent would depend on factors like the décor and amenities.
Not far from the villa complex, there was a branch of the real estate agency "Wo Ai Wo Jia". Ye Chen parked his car outside and walked in with the property deed.
"Hello, sir. How can I help you today?" the agent greeted him.
"I'm here to rent out a property," Ye Chen replied.
"Oh, what kind of property are you looking to rent?" the agent asked.
Ye Chen realized the agent had misunderstood and clarified, "I'm looking to rent out my property, not to rent one for myself."
"Oh, I apologize for the misunderstanding. Let me register your details," the agent quickly apologized and then led Ye Chen to a nearby table and sofa.
"Sir, where is your property located?" the agent asked, opening a registration form.
"Here, take a look," Ye Chen said, handing over the property deed.
The agent nonchalantly took the deed. For them, it was just another red booklet among many they saw daily.
However, when the agent opened it and saw the details, she was stunned. She immediately stood up and said, "Sir, please wait a moment."
Their branch was not far from the villa complex, so they knew very well what kind of place it was and the value of the villas there.
In the capital, whether you're renting out your property or looking to rent a place, the agency would charge a month's rent as a service fee.
Moreover, they collected this fee from both parties—landlord and tenant—meaning they earned two months' rent just by making the introduction.
If Ye Chen rented out this villa, the monthly rent would be at least 300,000 yuan, which was higher than the commission from selling a house.
Don't think that 300,000 yuan a month is high. In fact, it's not at all. For a villa like Ye Chen's, in that location and of that size, it would be worth at least several billion yuan.
At a rent of 300,000 yuan a month, that would be 3.6 million yuan a year, and it would take a century to recoup the cost. So, 300,000 yuan is actually quite low.
Of course, that was the minimum. The final rent would depend on the negotiations between the property owner, Ye Chen, and the potential tenant.
Moreover, such properties are not easy to rent out. Those who can afford to spend tens or even hundreds of thousands of yuan a month on rent usually have no shortage of money and typically buy their own properties.
But nothing is absolute. If someone needs such a property, it can be rented out easily. For some people, tens or hundreds of thousands a month is nothing.
"Mr. Ye, please have some tea while I register your details," the agent said.
The agent had gone to fetch water for him, which she did not need to do. He wasn't thirsty anyway.
In just a few minutes, the agent finished registering the information and handed the property deed back to Ye Chen. She then asked, "Mr. Ye, how much do you plan to rent this villa for per month?"
"I'm not really sure. Aren't you the experts? You should know the market better than I do," Ye Chen replied.
"Yes, that's correct, Mr. Ye. As you know, very few people can afford to rent a villa like yours. Based on our agency's evaluation, the rent for this villa should be between 600,000 to 1,000,000 yuan per month. However, a higher price might make it difficult to find a tenant. What do you think?" the agent explained.
"Let's set it at 600,000 yuan per month, but the tenant has to cover the property fees," Ye Chen decided.
"Of course. I'll list it immediately," the agent agreed.
"Great. If anyone shows interest, contact me. Here's my phone number," Ye Chen said, writing down his number on a piece of paper and handing it over.
"Certainly, Mr. Ye. If anyone wants to rent it, I'll contact you right away," the agent assured him.
"Okay."
The agent escorted Ye Chen outside, and when she saw him getting into a Lamborghini, she felt relieved. If she had seen what car he was driving earlier, she would have been even more courteous.
Having a rough idea of the rental price, Ye Chen also posted an online listing. He set the rent at 700,000 yuan per month, including property fees, with an upfront payment for a year and a one-month deposit.
Ye Chen had no other choice. For just two villas, he needed to pay over a million yuan in property fees. What about eighteen villas? How much would that cost?