4 people in a MM unit! that's tight.
4 people in a MM unit! that's tight.
3 actually...but their girlfriends come over...
Interesting setup. Thanks for sharing.
I did not quite consider more tenants cos it's likely to create a bigger mess and more headaches later. Contented with basic couple or individual.
Unless sectioning is commonly adopted and proven with good tenant profile or near certain institutions or organization...
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
U r welcomed...took us a few months and we figured instead of renting S$1800 to couples or singles , might as well rent more as 2 bedder...we r lucky as some even rented as Low as S$1700...
The China students r nice...did not even request for a TV and bought their own double decker beds and extra furniture.
Ideas tie in well with ST online front page on Nano flats in HK.
Remember the young always think and behave differently from the older generations.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
I thought that these MM units are no longer the popular thing to invest in these days given the falling rentals? wonder if that's true and what are the opinions of owners / landlords holding MM units ? anyone?
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Affordability, Higher Yield and Stabilizing Prices:
https://www.squarefoot.com.sg/market.../shoebox-units
https://www.squarefoot.com.sg/market...shoebox-rental
OK, but a couple of caveats:
1. yields are based on current rentals and current transacted. Not for those bought at higher prices circa 2012-2013 (ie at the height of the shoebox craze)
2. rentals are dropping as we speak.
3. yields calculated do not take into account vacancy rates - which is quite hard to compute based on transactional data. Based on media estimates, you probably have to knock off additional 10% discount on the calculated yields.
Where is viva vista in the list?
Eh as I have shared, I bought in 2012, and prices have continued to rise from then. Both yields and prices have continued to grow.
Rentals have hit a bottom limit in my view because any lower, it would compete directly with HDBs. Any lower, CPF will also easily cover.
These average yields are actual yields, and vacancies based on actual electrical bill have been on constant trajectory downwards for several quarters since a few quarters back...
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Correction: Yields fell to 3 plus% as prices have continued to grow.
These average yields are actual yields, and vacancies based on actual electrical bill have been on constant trajectory downwards for several quarters since a few quarters back...
I am more interested in Jurong Gateway performance.
Last edited by Kelonguni; 17-05-17 at 21:47.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
The rule will make the cost of production higher. It will make less competitive
don't get me wrong, i 'm not against shoeboxes. What you shared is good to know.
How do you calculate vacancies based on actual electrical bills? I estimate vacancy rate by taking the number of listings on property portal divide by total number of units. It's a rough estimate. Wondering if there is a better way to estimate vacancy.
If you got money, what will you do.
1. Put in the Bank to wait for depreciation.
2. Buy share
3. Buy property
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Now obviously buy shares, so many opportunities and easy to sell (not like OCR private properties, you will be paying HISTORICAL PEAKed PRICE if you buy now and then get stuck for 10+ years before even break-even (not even considering mortgage interest) like those Bishan buyers in 1997?)
I have seen older generation did (1) only and as inflation rose as they got older, their lifestyle moved from middle class to lower middle class. (2) and (3) is OK, both have risks. I do think property is the safest, however I do see too many people have their whole life earnings ploughed into property. some people are saying property might crash, however, one thing is for sure, developers are paying higher and higher prices for land banking over the years. Imagine 20 years ago a plot in tanjung rhu was sold for only 300psf ppr, look at the land prices now.
Yes, that is why property developers are most profitable! This is because they just flip papers (sell you just "papers" for properties you buy, so buying land at PEAK price is not a concern to them as long as they can flip quickly to YOU!), and then when property prices CRASH later, it is you who are holding the BABIES (not them)! They already pocketed your money!
No wonder even companies like Popular (sell books), Aspial (sell jewelleries), 2nd Chance (sell clothings) all want to become property developers too!
When one is able to figure out the motivation those behind buying new launches, he is also able to see if there is indeed bullishness in this market.
Teddy seems to be ranting all the times, but he is honest.
New cap on tenants for private homes, deadline looms for agents, landlords to ink deals
MAY 13, 2017
From Monday, landlords can rent out to no more than six unrelated persons; no change to HDB cap
Ng Jun Sen
When she moved out of her family home last year, Ms Yvette Lim, 34, thought she could eventually sublet her old bedroom to help her family pay the rent.
With a floor area of 4,500 sq ft, her spacious Choa Chu Kang house, where six of her family members now live, could easily accommodate a few more tenants, she calculated.
But her plans have been dashed.
From Monday, landlords can rent out private homes to no more than six unrelated persons. If there are six related people living in the residence, no tenants are allowed.
The move reduces the occupancy cap from eight previously.
Existing tenancy agreements with seven or eight tenants will be allowed to run their course until May 15, 2019, but after that, the rules will kick in regardless of the contract's expiration date, said the Urban Redevelopment Authority (URA) in a letter on Thursday to registered property agents .
For HDB flats, the maximum sub-tenants allowed for a three-room unit and a four-room or bigger unit remain unchanged, at six and nine respectively.
Ms Lim, an administrative assistant, told The Straits Times: "Eight was just nice for us, but it's a pity now because the house will be quite empty. One of the five bedrooms will be unused."
Responding to queries from The Straits Times, a URA spokesman said the rule change ensures that residential premises are "consistent with the character of the local community and integrate better with the neighbourhood".
He added that it takes into account "the strong supply of alternative accommodation" that caters to non-familial groups of occupants, such as hostels for students and dormitories for company employees.
Some residents and property watchers The Straits Times spoke to welcomed the move, saying it will reduce disruption and noise caused by overcrowded units.
PropNex Realty chief executive officer Ismail Gafoor said: "Private properties are meant to be exclusive, with owners of the development having the quiet enjoyment of the facilities and lifestyle. In order to maintain this exclusivity, the cap of six tenants is reasonable."
However, landlords such as Mr Peter Chiado not agree. The retiree, who is in his 60s, relies on rental income from his four-bedroom unit in Pacific Mansion in the River Valley area. He lives there with five tenants and hopes to get two more.
Mr Chia will have to take down his advertisement if he is unable to rent out the empty bedroom in his 1,500 sq ft apartment by Monday. This is a loss of $900 to $1,200 in potential monthly rent, he said.
The new rule will also affect home-sharing such as Airbnb. The URA is studying the option of creating a new category of private homes that will allow short-term rentals.
An occupancy cap of six means that future home-sharing hosts will not be able to lease out an apartment to, say, two large families, said International Property Advisor CEO Ku Swee Yong.
Some analysts wondered if the occupancy cap could have better reflected the size of the home.
Said Cushman & Wakefield research director Christine Li: "A better implementation could have been to peg occupancy caps to the number of bedrooms, similar to that for HDB flats."
URA said this is not the case as there are various types of private property, from small apartments to bungalows. Said a spokesman: "We have simplified the control for greater clarity to the public by not adopting a stratified occupancy cap control based on unit sizes."
Thursday's announcement gave three days for real estate agents to react and could trigger a surge in rental contracts being renewed or signed over the weekend, said ERA Realty key executive officer Eugene Lim.
On social media, some agents have started asking landlords with a sizeable number of tenants to quickly renew their tenancy pacts.
Said Mr Lim: "We have not seen any surge of sign-ups yet, but we do not rule out that some landlords will try (to do so) over the next few days, before May 15 arrives."
Mr Lim believes HDB occupancy caps may soon follow suit.
"There is a possibility that HDB may align the caps accordingly since the spirit of this rule change is to prevent overcrowding within residential units," he said.
HDB already got strict rules for subletting, the number is just to calibrate to ensure FW not using Condo as Dormitory.
Subletting period
The minimum subletting period for each subtenant must be 6 months per application. You are not allowed to sublet your flat or bedroom on a short-term basis as it may disrupt the living environment and pose security concerns for our residents.
The subletting period is indicated in the approval letter, up to a maximum of 3 years if all the subtenants are Singaporeans or Malaysians. The maximum is capped at 1.5 years for non-Malaysian non-citizen subtenants. Non-citizens refer to Singapore Permanent Residents and foreigners. You are required to reapply for approval each time you sublet your flat or renew the subletting application.
http://www.hdb.gov.sg/cs/infoweb/res...ng-regulations