Dear all, I bought over a property with tenancy not too long ago. The tenancy will expire end of this year. I have a few questions to consult you all.
1) How many months prior should I discuss the lease renewal with tenant?
2) How much rent increment should I ask for?
3) There is also a new condo top near my property, with much better facilities and closer to the Mrt. How will this affect my rental income? Should I expect lower rent in view of the competition?
4) If the lease is renewed with my current tenant, do I need to engage an agent to do the necessary paperwork, and how much commission should I pay to the agent?
Appreciate your attention and reply. Thank you all.