STEP1 Know lease market

 Get to know the real estate market in Ningbo

When you plan to move to Ningbo, here are a few things you should know.
 

 >> Basic Ningbo real estate leasing market info:
The real estate for rent in Ningbo is mainly devised as four kinds, service apartment, apartment, town house /villa and office. Most of the information is provided by the landlord.

In Ningbo only Portman Hotel and Good sun Hotel provide service apartments, part of the lease information comes from the property management companies, others are provided by the landlord as well.

The lease period is normally at least 6 months or longer, except the service apartment which can be signed for shorter period.

Most Ningbo expatriates live in Jiangdong district, Jiangbei district, Hai shu district, Yingzhou district and Beilun district.

Click here to see the pictures and information of the common expatriate compounds in Ningbo.
 

Rent:In Ningbo, there are as many lifestyles as there are properties: you can find any kind of accommodation, from the very basic to luxurious. The monthly rental will be from rmb1500/month to rmb30000/month different.

Layout Size(m2) Price(RMB)
One bathroom, one living room and one 1bedroom Or duplex with two bedrooms 60<size 1500~3500
Apartment with 2 or 3 bedrooms 60<size<130 4000~6000
Luxurious apartment with 3 bedrooms 130<size 7000~15000
Duplex, townhouse or house 200<size 8000~30000

>> In Ningbo, the agent fee is paid by the tenant; the leasor doesn't pay for the agent fee, which is different from the Shanghai market. For more details of the agent fee, please visit http://www.ningbohomes.com/reindeer/service.asp. 

>> Lease:There are short term (<6 months) and long term (>6 months) leasing contracts in Ningbo . Except service apartment can be leased for less than 6 months. Usually to rent an apartment, townhouse or house, office, you’ll need to be renting for a period of at least 6 months, preferably a year. Most landlords require signing a one year leasing contract. It is possible to have short term leasing contracts but it depends on the landlords; rental is usually more expensive.

>>Deposit:Owners usually ask for 
1 or 2 months deposit in advance when you sign a long term leasing contract (1 month deposit= 1 month rent).The deposit normally is the money beside the rental. Deposits are often paid upon signing of the lease to ensure unit occupation, compensation for damages caused by the tenant, or non-performance of lease terms. 
The landlord will offer a receipt when he receives the deposit. Please save and take care of the receipt for future use. 
Should the property condition be deemed acceptable upon lease expiration, the security deposit will be refunded in full. Deposits are paid back the last day of your leasing contract after you and the owner have checked the apartment. 

If you break the leasing contract before the end of the leasing date, the owner will keep your deposit.

>> Management fees: Management fees are payable monthly to the management company. It covers the cost of maintenance, security of the building and amenities. Fee depends on the building age and facilities offered to the Tenants. 
Normally the rental doesn't include the management fee in Ningbo market. The client will need to pay it by themselves, but you still can negotiate with the landlord. 

>> Utility bills: The Tenant usually pays gas, water, electricity, telephone, and ADSL charges by themselves. It usually costs around 80-200 USD all together per month. This is an average on 1 year: expect higher electricity bills during winter and summer. 
Those charges can be paid to different banks. But different places and different required bank, please ask your landlord for the details. When you pay please bring your bills with you. 
· Electricity – billed every 2 month.
China uses a standard of 220 volts and 50 cycles. Plugs come in at least four designs: three pronged angled pins (as in Australia), three  pronged round pins (as in Hong Kong ), and two flat pins (US style but without the ground wire) and two narrow round pins (European style).  You will be able to buy most kind of adaptors in Ningbo. 
· Water – billed half a year or every year by management office 
  The tap water is not drinkable or must be boiled before drinking. We recommend you use water dispensers with water jugs. It usually costs between 8 – 12 RMB for a 19 liters jug. Water containers can be delivered as needed.
· Gas – billed bimonthly. Most kitchen burners use gas. 
· Phone / Internet – billed monthly. 
· CATV – most buildings are cable ready, and give you access to Chinese channels (about 50 channels), and only one in English (CCTV 9). 
· SATV-is not widely installed in the apartments except few expatriate communities authorized by the government. Please contact us if you need SATV installation service.

>> House insurance: In China, you are not required to have property insurance. In fact, all expatriates places are usually insured by the landlord in case of fire, bad weather, war, water…any other cause which is not attributable to the tenant .Normally a lot of landlords haven’t bought this kind of house insurance in ningbo.


More Properties


Copyright © 2011-2020 Reindeer Station CO.,LTD, All Rights Reserved. | Web Design by: city-design