I have a friend who happily rented out his exeutive flat to 2 china students for $2k/mth.Unknown to him that is the start of his nightmare.
Barely a mth later,these 2 tenants sub-tenanted d flat to 6 of their course mates charging $500 each knowing HDB allows max 8 persons in 1 unit.So they collected $3000 every mth & pay my friend $2k.Each of them stay free n still hv $500 pocket money every mth.
They have become landlord themselves without owning it.
That's not all,first they dont maintain the house,they cook but never cleans up,dont mops flr,toilets not washed.So my friend counter react by getting a part time maid n get them to pay thinking that it will solve the problem but they r smarter.Knowing that they are paying they mess even more. They wear shoes in the house,bring girlfriends back,imaging 16 peoples messing up.It was so bad that the maid quit after 1 mth.
Now my friend is thinking of selling d flat but he's locked up with a 2 yrs tenancy.He's using d $2K rental to cover his $1950 hdb loan while his mthly cpf contribution is use to pay his current condo.
He regretted renting out n should hv just sold it half yr ago when prices peaked,now he's burdened with 2 mortages n pray hard that interest rates wont increase so soon.
That's the profile of a typical hdb tenant.Pte condo gets better quality tenants.