Buying condo with tenant

[Cklasse]

What do I need to take note if I am buying a more than 10 years old condo that still has a 2 years tenant?

[romeo]

not ostracise, but u muz see tenant comes from which country/region..
n if he takes care of the unit..
u muz b happy with current rental rate.. coz unable to change for next 2 years coz if rental goes up, u can't adjust upwards..
also see if tenant is friendly

[mage]

which country/region tenants are most sought after? and why? ...

[romeo]

i wouldn't say most sought after.. but based on experiences both personal n others

my personal experience with prc n filipinos not that pleasant

then again, these r generalisations, even if i state an example of a nationality, there will b exceptions to it..

gender also make a diff too

i rather not.. anyone care to share their take or experience?

[ysyap]

I wouldn't say which nationality but rather which profession is generally better to have as tenants. My previous tenants constantly travel so its sometimes quite frustrating when rent is due but he's overseas and don't even reply to my text messages. Sometimes he don't pay for close to a month... So I guess tenants who don't travel are preferred. Any others?

[chiaberry]

I wouldn't say which nationality but rather which profession is generally better to have as tenants. My previous tenants constantly travel so its sometimes quite frustrating when rent is due but he's overseas and don't even reply to my text messages. Sometimes he don't pay for close to a month... So I guess tenants who don't travel are preferred. Any others?

I'm afraid it's impossible to generalise on nationality or profession. I have had all sorts. As you mentioned, those who travel often are really troublesome. Often don't pay rent on time. I have had two tenants fell into that category, almost every month I have to get the agent to chase them.

As for nationality, I have had PRCs who were bad tenants (left place in bad condition), Indians who were super good tenants (always pay on time and kept the place well), ang-moh who was a bad tenant (always late in paying and left the place like a pig-sty), Filipinos who were good tenants (always pay on time and kept the place well).

The best arrangement in terms of getting paid on time is a company lease where the company will pay you direct. They would set up a direct debit and they will never be late. I am willing to accept a lower rent to get a company lease because of the convenience of collecting rent.

[ysyap]

As for nationality, I have had PRCs who were bad tenants (left place in bad condition), Indians who were super good tenants (always pay on time and kept the place well), ang-moh who was a bad tenant (always late in paying and left the place like a pig-sty), Filipinos who were good tenants (always pay on time and kept the place well).

That reminds me years back I had an ang-moh who disappeared and still owe me $1000 unpaid debt. He took his family and left the country le... closed bank account too... My impression of them changed drastically since!!!

[chiaberry]

That reminds me years back I had an ang-moh who disappeared and still owe me $1000 unpaid debt. He took his family and left the country le... closed bank account too... My impression of them changed drastically since!!!

Yep I had an ang-moh who looked the most respectable middle-aged guy, company director. He absconded without a trace. Their looks are deceiving. The one who lived like a pig had movie-star looks.

[ysyap]

Yep I had an ang-moh who looked the most respectable middle-aged guy, company director. He absconded without a trace. Their looks are deceiving. The one who lived like a pig had movie-star looks.

Crap! I even went to the small claim tribunal to seek help but the judge told me there is nothing they can do!

[azeoprop]

Just wondering is it possible to ban smoking as a condition for renting your house?

[ysyap]

Just wondering is it possible to ban smoking as a condition for renting your house?

Can but you'll just have less prospective tenants lor and how can you guarantee your tenants won't smoke? You install CCTV??? Not possible lah.... You can demand but can't enforce lor!

[chiaberry]

Can but you'll just have less prospective tenants lor and how can you guarantee your tenants won't smoke? You install CCTV??? Not possible lah.... You can demand but can't enforce lor!

Agree. Impossible to enforce.

[amk]

Yep I had an ang-moh who looked the most respectable middle-aged guy, company director. He absconded without a trace. Their looks are deceiving. The one who lived like a pig had movie-star looks.

I had one ang mo who is the CEO of the company, and even though it's corporate lease, he took liberty to deduct rental at will for "necessary repairs"

Very hard to generalize lah. Some time it's luck ( or the lack of it )

...although in general the higher the rent, the lesser the issues...in my case...

[chiaberry]

I had one ang mo who is the CEO of the company, and even though it's corporate lease, he took liberty to deduct rental at will for "necessary repairs"

Very hard to generalize lah. Some time it's luck ( or the lack of it )

...although in general the higher the rent, the lesser the issues...in my case...

The last remark doesn't always apply though. My HDB flat has the lowest rental and so far it has surprisingly the best track record for tenant paying in time and keeping the place in reasonable order (including regular washing of the sofa covers which remain the original colour of white/cream up till now and the curtains which are kept in even better condition than when I rented it out to them originally). Since the tenant is so reliable, I just renewed for another 2 years at lower than market rate because I appreciate a good tenant. I think it is very much down to luck.

Some of the big-shot corporate tenants are overly demanding and somewhat arrogant and they seem to think they are doing you a favour by renting yr property. I have no respect or time for such types.

[DC33_2008]

There is standing instruction/Giro system that we can use. I do not have any problem with my tenants on payment on this mode.

I'm afraid it's impossible to generalise on nationality or profession. I have had all sorts. As you mentioned, those who travel often are really troublesome. Often don't pay rent on time. I have had two tenants fell into that category, almost every month I have to get the agent to chase them.

As for nationality, I have had PRCs who were bad tenants (left place in bad condition), Indians who were super good tenants (always pay on time and kept the place well), ang-moh who was a bad tenant (always late in paying and left the place like a pig-sty), Filipinos who were good tenants (always pay on time and kept the place well).

The best arrangement in terms of getting paid on time is a company lease where the company will pay you direct. They would set up a direct debit and they will never be late. I am willing to accept a lower rent to get a company lease because of the convenience of collecting rent.

[chiaberry]

There is standing instruction/Giro system that we can use. I do not have any problem with my tenants on payment on this mode.

zzzzz some tenants refuse to set up standing instruction/GIRO after they have signed the TA. The ang-mohs seem to be the worst in this respect. Or else they set it up and then it fails to activate due to insufficient funds. Then they will be overseas when you try to contact them.

[Geylang OKT]

Crap! I even went to the small claim tribunal to seek help but the judge told me there is nothing they can do!

Don't you have a security deposit from them? That will cover you a month or two (depending on number of years lease).

And after 7 days of non rental payment, you got the right to evict them.

[Geylang OKT]

zzzzz some tenants refuse to set up standing instruction/GIRO after they have signed the TA. The ang-mohs seem to be the worst in this respect. Or else they set it up and then it fails to activate due to insufficient funds. Then they will be overseas when you try to contact them.

I take non payments very seriously. All my tenants pay very promptly

[devilplate]

The last remark doesn't always apply though. My HDB flat has the lowest rental and so far it has surprisingly the best track record for tenant paying in time and keeping the place in reasonable order (including regular washing of the sofa covers which remain the original colour of white/cream up till now and the curtains which are kept in even better condition than when I rented it out to them originally). Since the tenant is so reliable, I just renewed for another 2 years at lower than market rate because I appreciate a good tenant. I think it is very much down to luck.

Some of the big-shot corporate tenants are overly demanding and somewhat arrogant and they seem to think they are doing you a favour by renting yr property. I have no respect or time for such types.

totally AGREE!

i dun hf HDB....but i hf seen my relative happily renting out their 3rm flat to a family for 5 good years....

no such thing as high rent high profile.....

i ever reject a 'high profile' tenant right in front of both side agts while going thru the TA! TOO HAOLIAN! BEY TAHAN! CHAO ANGMOR!

[devilplate]

Don't you have a security deposit from them? That will cover you a month or two (depending on number of years lease).

And after 7 days of non rental payment, you got the right to evict them.

for u vy easy to evict them.....jus show them ur china mei meis

all lau nua

[Geylang OKT]

for u vy easy to evict them.....jus show them ur china mei meis

all lau nua

Ok! I show them the $200 variety!

[Regulators]

you mean all your chickens?

I take non payments very seriously. All my tenants pay very promptly

[ysyap]

Don't you have a security deposit from them? That will cover you a month or two (depending on number of years lease).

And after 7 days of non rental payment, you got the right to evict them.

Agreed, but my terms and condition stated 10 days, not 7. Then tenants will say he dropped the cheque le so can only clear on next working day. Loads of problem lah...

[devilplate]

Agreed, but my terms and condition stated 10 days, not 7. Then tenants will say he dropped the cheque le so can only clear on next working day. Loads of problem lah...

i encountered more jialat cases....relax lor....i learn to take it easy on such matters liao....landlords nvr easy one....aso a profession ok....LOL

[chiaberry]

Agreed, but my terms and condition stated 10 days, not 7. Then tenants will say he dropped the cheque le so can only clear on next working day. Loads of problem lah...

I have ever charged them $50 "penalty" for late payment because my bank acct OD due to the delay. I say will deduct penalty rather than evict them.

A threat to deduct such late payment "penalty" from their deposit can help to expedite matters. My agent is also very ruthless to deduct expenses for rectifying damages from the deposit if they do not maintain the place well.

[DC33_2008]

Oh! I m rather fortunate. They cannot leave the rent upaid for too long as there is a clause in the contract.

zzzzz some tenants refuse to set up standing instruction/GIRO after they have signed the TA. The ang-mohs seem to be the worst in this respect. Or else they set it up and then it fails to activate due to insufficient funds. Then they will be overseas when you try to contact them.

[devilplate]

Oh! I m rather fortunate. They cannot leave the rent upaid for too long as there is a clause in the contract.

can evict....but wat if they play ah beng and dun leave? call police aso not much use...

[DC33_2008]

Lock them out of the house and take the passport.

can evict....but wat if they play ah beng and dun leave? call police aso not much use...

[zzz1]

I wouldn't say which nationality but rather which profession is generally better to have as tenants. My previous tenants constantly travel so its sometimes quite frustrating when rent is due but he's overseas and don't even reply to my text messages. Sometimes he don't pay for close to a month... So I guess tenants who don't travel are preferred. Any others?

the way to go is to arrange bank instruction or Giro deduction...simple and convenience even the tanent is out of town...

[devilplate]

the way to go is to arrange bank instruction or Giro deduction...simple and convenience even the tanent is out of town...

provided tenant r willing to do so