Shanghai’s current property market is only around 12 years old and still in its infancy as compared to the adequately developed nations, there exists minimal organizational structure and it belies the image of an innovative skyscraper littered city. With the Government of the Peoples Republic of China’s regulations changes in the late 90’s Chinese nationals were now offered the prestige to choose and buy their very own domestic or business properties. Nevertheless there are no multi-listings yet but the technological infrastructure stays elemental. Under developed apartments for rent Shanghai has yet to set all the safety nets once things go wrong.
Although Shanghai is a massive city some areas of it still in the rapid development stage so the “jungle” still covers some regions of this huge settlement. Several owners get their houses from the agents close to the apartment building or housing compound they have chosen and so tend to use the same broker to lease it out. In the event an owner of an older house wishes to rent out their property then they can usually put it on the books of the local community agency. The larger groups with branches around the city are networked with each other but the smaller ones function by themselves. While there exists a bit of co-operation amongst agencies it is minimal because most are skeptical to share percentages.
Landlords’ versatility on negotiations depends first on their personal need for return on investment (ROI). Most of the separately owned more advanced luxury properties are purchased outright thus landlords can wait until there is an offer best matching their requirements.
On the other hand, houseowners in Shanghai who have either borrowed to buy the house or perhaps allowed apartments for rent to pay costly mortgage rates are desperately looking for some return on investment, regardless of how little it may be.