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Thread: 1st Time

  1. #1
    Newbie

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    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
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    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
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    you may pick up some tips from these discussions here:

    [url]http://forums.condosingapore.com/showthread.php?t=9628[/url]

    [url]http://forums.condosingapore.com/showthread.php?t=9472[/url]

  4. #4
    Exalted

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    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
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    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
    I sell Cheese Pie

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

  7. #7
    Just my 2 cent worth..

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    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
    I sell Cheese Pie

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    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
    Junior

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    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
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    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!

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