Page 1 of 2 12 LastLast
Results 1 to 30 of 52

Thread: 1st Time

  1. #1
    Join Date
    Dec 2010
    Posts
    78

    Default 1st Time

    I am going to be a 1st time landlord.
    What the areas that I need to look out for?
    Appreciate your advice.

  2. #2
    Join Date
    Feb 2010
    Posts
    426

    Default

    Quote Originally Posted by ymgsterling
    I am going to be a 1st time landlord.
    What the areas that I need to look out for?
    Appreciate your advice.
    Hahaha!
    U need to pray for a good tenant!
    Documentation v impt.
    All inventory and conditions on paper.
    Photos of yr condo condition before it gets wrecked are helpful.
    Good luck!
    Luck is v impt!

  3. #3
    Join Date
    Jan 2011
    Posts
    787

  4. #4
    Join Date
    Apr 2010
    Posts
    15,307

    Default

    Quote Originally Posted by sfwoo
    Hahaha!
    U need to pray for a good tenant!
    Documentation v impt.
    All inventory and conditions on paper.
    Photos of yr condo condition before it gets wrecked are helpful.
    Good luck!
    Luck is v impt!
    Docu only can protect u tat far.... Try to have 2mth deposit n choose tenant wisely....

  5. #5
    Join Date
    Apr 2009
    Posts
    5,841

    Default

    good tenants are an asset indeed. I will rank Japanese with family 1st, Caucasians with families 2nd and Koreans with families 3rd.

    Quote Originally Posted by devilplate
    Docu only can protect u tat far.... Try to have 2mth deposit n choose tenant wisely....

  6. #6
    Join Date
    Oct 2008
    Posts
    1,493

    Default

    Thread title quite misleading leh. I thought you asking about a virgin doing it the 1st time

  7. #7
    Join Date
    Oct 2008
    Posts
    648

    Default

    Quote Originally Posted by devilplate
    Docu only can protect u tat far.... Try to have 2mth deposit n choose tenant wisely....
    1 year lease - 1 mth deposit
    2 year lease - 2 mth deposit.

  8. #8
    Join Date
    Oct 2008
    Posts
    1,493

    Default

    Quote Originally Posted by ymgsterling
    I am going to be a 1st time landlord.
    What the areas that I need to look out for?
    Appreciate your advice.
    furniture and aircons. know what constitutes wear and tear, and what parts need to be replaced by landlord/tenants respectively

  9. #9
    Join Date
    Oct 2010
    Posts
    1,420

    Default

    Other than tenants, look out for the agents too.

    They will usually include a clause in the contract that you will have to pay them 1 mth commission if the tenant renews the contract, as part of their "standard" contract. Ask them to remove that clause. Why should u have to pay them again

  10. #10
    Join Date
    May 2010
    Posts
    1,406

    Default

    Quote Originally Posted by Regulators
    good tenants are an asset indeed. I will rank Japanese with family 1st, Caucasians with families 2nd and Koreans with families 3rd.
    PRC tennants can be a nightmare.
    A friend of mine tenanted to a group of "so call" PRC foreign talents, about 8 of them.He is shock to see "6 rice cookers placed in his kitchers. Also, there are about 4 portable stoves too. With so many cooking happened in the kitchers, my friend almost fainted when took back his unit with extremely oily kitchen. Spend a few thousand to redo the kitchen.

    Apart from Kitchen, he found the rooms with lots of holes. In particular, he found a thru hole (about 4cm wide) between Master room and an adjcent room as tenants want to pull thru network cable from a point in Master room.

    The worst is yet to come. Eventually, the tenants delay payment for about a month. My friend went up to his unit to check out and was shocked to discover that this group of Foreign talents had fled without informing nor contactable (maybe back to China?)

    At the end, the two months deposits also not enough to cover my friend's loses. Find the agent also no use as the agent has quited from property job. Damn suay!

  11. #11
    Join Date
    Apr 2009
    Posts
    184

    Default

    Quote Originally Posted by Douk
    1 year lease - 1 mth deposit
    2 year lease - 2 mth deposit.
    1 year lease, also ask for 2 months deposit. U never know how much damage can be done in just 1 year. Better b safe. Tell them to fly kite if they do not agree.

  12. #12
    Join Date
    Oct 2010
    Posts
    1,420

    Default

    Quote Originally Posted by patricia
    1 year lease, also ask for 2 months deposit. U never know how much damage can be done in just 1 year. Better b safe. Tell them to fly kite if they do not agree.
    Usually, I wouldn't agree to 1 year lease. There's too much cost incurred when a new tenant comes in. Also consider the time down while waiting for the next tenant, just after 1 yr.

    Unless the rental for the 1 yr lease is significantly higher than a 2 yr lease.

  13. #13
    Join Date
    Mar 2010
    Posts
    2,571

    Default

    Quote Originally Posted by westman
    PRC tennants can be a nightmare......

    The worst is yet to come. Eventually, the tenants delay payment for about a month. My friend went up to his unit to check out and was shocked to discover that this group of Foreign talents had fled without informing nor contactable (maybe back to China?)

    At the end, the two months deposits also not enough to cover my friend's loses. Find the agent also no use as the agent has quited from property job. Damn suay!
    Hdb or condo? Actually I rank PRC at the bottom rank...., heard too many stories, even if they want to pay slightly higher price, I also dun rent...., just me. Don't want to worry day and night after that.

  14. #14
    Join Date
    Nov 2008
    Posts
    77

    Default

    Quote Originally Posted by sh
    Other than tenants, look out for the agents too.

    They will usually include a clause in the contract that you will have to pay them 1 mth commission if the tenant renews the contract, as part of their "standard" contract. Ask them to remove that clause. Why should u have to pay them again
    if agent provides good service, throughout tenancy, especially at handover of apt after tenancy is over, i definitely will not mind paying them for their services ie agent looks after LL's interests at all times and i have had the pleasure of having a very trustworthy agent handling the rental of my apt.

  15. #15
    Join Date
    May 2010
    Posts
    1,406

    Default

    Quote Originally Posted by land118
    Hdb or condo? Actually I rank PRC at the bottom rank...., heard too many stories, even if they want to pay slightly higher price, I also dun rent...., just me. Don't want to worry day and night after that.
    condo near woodland...

  16. #16
    Join Date
    Oct 2010
    Posts
    1,420

    Default

    Quote Originally Posted by duckweed
    if agent provides good service, throughout tenancy, especially at handover of apt after tenancy is over, i definitely will not mind paying them for their services ie agent looks after LL's interests at all times and i have had the pleasure of having a very trustworthy agent handling the rental of my apt.
    I have no issue with paying agents their commission.

    But I don't see why i have to pay them for the renewal of the contract. Don't forget that they take 4.1% of your total rental as their commission already in the 1st tenancy contract.

  17. #17
    Join Date
    Nov 2008
    Posts
    77

    Default

    Quote Originally Posted by sh
    I have no issue with paying agents their commission.

    But I don't see why i have to pay them for the renewal of the contract. Don't forget that they take 4.1% of your total rental as their commission already in the 1st tenancy contract.
    because my agent continues to handle all issues raised by existing tenant and gets the unit ready for the new tenant if current tenant moves out.

    there are some agents that get you the tenant and totally disappear thereafter while some will continue to provide service throughout the entire tenancy and ensures tenant does a proper handover when tenancy ends. in the latter case, i am most happy to pay them for the renewal as i am freed from handling any tenant issues.

  18. #18
    Join Date
    Dec 2010
    Posts
    78

    Default

    Having cold sweat!
    But wife preferred to keep unit for rental than
    sell cause of sentimental reasons.
    Some advice needed;
    1) Rental deposit; based on market practice or
    governed by law? 1 year 1 month deposit?
    2) Possible to include in the lease that landlord
    can make visit to check the place by giving
    advance notice?

  19. #19
    Join Date
    Apr 2010
    Posts
    15,307

    Default

    Quote Originally Posted by ymgsterling
    Having cold sweat!
    But wife preferred to keep unit for rental than
    sell cause of sentimental reasons.
    Some advice needed;
    1) Rental deposit; based on market practice or
    governed by law? 1 year 1 month deposit?
    2) Possible to include in the lease that landlord
    can make visit to check the place by giving
    advance notice?
    1)yes...2yr 2mth

    2) nvr do tat b4...wat for...nvm one la....relax la....choose tenant wisely lor

  20. #20
    Join Date
    Dec 2010
    Posts
    78

    Default

    Quote Originally Posted by devilplate
    1)yes...2yr 2mth

    2) nvr do tat b4...wat for...nvm one la....relax la....choose tenant wisely lor
    To check on the conditions of the apartment,
    and most importantly the tenant is still around.
    Haha! My 1st, very nervous!

  21. #21
    Join Date
    Nov 2008
    Posts
    9,217

    Default

    Do not have too high expectation and always mentally prepare for the worst. One will not be so upset when something happen.

  22. #22
    Join Date
    Apr 2010
    Posts
    15,307

    Default

    Quote Originally Posted by ymgsterling
    To check on the conditions of the apartment,
    and most importantly the tenant is still around.
    Haha! My 1st, very nervous!
    haha...anything always got 1st time....hehe

  23. #23
    Join Date
    Nov 2008
    Posts
    9,217

    Default

    Don't ever get Nigerian. Heard a lot of problem. Chinese may be slightly better than Nigerian. French, British, Australian, Japanese, Indian (from US) and USA seems alright.

  24. #24
    Join Date
    Oct 2008
    Posts
    1,493

    Default

    Quote Originally Posted by devilplate
    haha...anything always got 1st time....hehe
    Afterthat, will be known as non-virgin

  25. #25
    Join Date
    Oct 2008
    Posts
    1,493

    Default

    If you want your house to remain in a good condition, then rent only to the caucasians, filipinos or koreans.

    If you rent to indians and china folks, be prepared to kiss your good clean apt goodbye. Do it only if you are looking at the rental yield and nothing else

  26. #26
    Join Date
    May 2010
    Posts
    1,406

    Default

    I bought my unit from a local who has had tenanted to a japanese couple. I'm extremely lucky as the jap's couple maintain the condo unit.

    When I took over the unit from the tenants (conincindentally, the Jap also end the contracts two days before I took over), the Jap's wife washed and ironed all sofa's covers and curtains. She even vacuum and wash the whole house. She also arranged the aircons serviced and she even leave a note informing us that she still have two more services left with her contract with Gain City (me save $$$) and has had asked me to contact Gain city for service arrangement when service due.

    When I took over, it's totally dust free. Jap's couple would be my first choice wor...

  27. #27
    Join Date
    Oct 2008
    Posts
    1,493

    Default

    Quote Originally Posted by westman
    I bought my unit from a local who has had tenanted to a japanese couple. I'm extremely lucky as the jap's couple maintain the condo unit.

    When I took over the unit from the tenants (conincindentally, the Jap also end the contracts two days before I took over), the Jap's wife washed and ironed all sofa's covers and curtains. She even vacuum and wash the whole house. She also arranged the aircons serviced and she even leave a note informing us that she still have two more services left with her contract with Gain City (me save $$$) and has had asked me to contact Gain city for service arrangement when service due.

    When I took over, it's totally dust free. Jap's couple would be my first choice wor...
    Yeah, Japs are an excellent choice too. But never, ever the china and ah neh

  28. #28
    Join Date
    Dec 2010
    Posts
    78

    Default

    Agent's com; 1yr lease-1/2 a mth, >2yrs-2 mths?
    Does the agent duties ends after lease agreement signed?
    Or his duties continues till expiry of the lease?
    If so, what are his duties?
    Appreciate ur advice! Pardon me, is my 1st time.

  29. #29
    Join Date
    Oct 2010
    Posts
    1,420

    Default

    Quote Originally Posted by ymgsterling
    Agent's com; 1yr lease-1/2 a mth, >2yrs-2 mths?
    Does the agent duties ends after lease agreement signed?
    Or his duties continues till expiry of the lease?
    If so, what are his duties?
    Appreciate ur advice! Pardon me, is my 1st time.
    Contractually, the agents do not have further responsibilities. Though they will facilitate the handover. They are not party to the tenancy agreement between u and the tenant.

    However, the agents are useful as a go-between if required. They are not obliged to, but will usually oblige, perhaps to continue the relationship with u and your tenant in the hope of future business....

  30. #30
    Join Date
    Oct 2008
    Posts
    1,493

    Default

    Quote Originally Posted by ymgsterling
    Agent's com; 1yr lease-1/2 a mth, >2yrs-2 mths?
    Does the agent duties ends after lease agreement signed?
    Or his duties continues till expiry of the lease?
    If so, what are his duties?
    Appreciate ur advice! Pardon me, is my 1st time.
    TA is between owner and tenant. Agent is redundant. If you know well the leasing process, you can easily do without the agent. However, agents do play a role if you do not have many sources to find tenants, and as the go between if you do not want to be bothered by the tenant at all (e.g. leaks, aircon, fridge, washing machine, water heater problems etc).

Similar Threads

  1. Replies: 4
    -: 31-03-20, 17:07
  2. Replies: 0
    -: 28-10-14, 22:25
  3. Developer says: time to pay up Buyer says: give me more time
    By Cactus72 in forum Singapore Private Condominium Property Discussion and News
    Replies: 1
    -: 10-05-09, 02:31
  4. Bad time to buy? It was the best time to upgrade
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 0
    -: 31-03-09, 19:20
  5. ‘It’s not the time to buy’
    By mr funny in forum Singapore Private Condominium Property Discussion and News
    Replies: 1
    -: 01-03-09, 22:09

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •