Should I wait for next offer?

[plastic]

A Filipino couple is interested in renting my apartment for 1 year, at my asking price. However, I would very much prefer a 2-year lease.

Should I wait for the next offer or accept the Filipino couple's offer (I still have some time to wait)? How are they like as tenants? Has anyone here encountered any problem with Filipino tenant(s).

To the fellow landlord forumers, do you have any difficulty securing a 2 year lease?

What if the tenancy agreement says no sub-leasing, but the tenants do it anyway, what is my recourse. Practically, what can I do?

Thank you and appreciate your advice.

[ysyap]

Filippinos can be quite calculative but generally ok (at least that's how I hear).
If tenants violate terms of the agreement, then you can either close your eye if its not that bad or take legal action to first warn them before chasing them out of the house but that will cost you lawyer's fee... so usually close an eye if its still within your tolerance level...

[mcmlxxvi]

Like any FT, there are good pinoys and then there are bad pinoys. Just make sure yours have a decent occupation, no bad habits or host loud parties or make a mess and dont always pay up late.

[stiook]

But you might lose income if you wait longer... I let go of mine with one year.

[Laguna]

well, it depends on the type of property u hv
if it is high end, then rent it out
if it is less than $4000, u still hv a good chance to find a good tenant for two years.
My reading for rental market that for $4000 range, it is still a strong demand for the next 2Q

[Komo]

from couple may become four ... then 6.... share/cover cost

[terence]

Looking at the economic situation next year, better to go for 2 years lease. And must spelt out clearly in TA that early termination equates to how many months penalty. Just my humble opinion.

[zzz1]

A Filipino couple is interested in renting my apartment for 1 year, at my asking price. However, I would very much prefer a 2-year lease.

Should I wait for the next offer or accept the Filipino couple's offer (I still have some time to wait)? How are they like as tenants? Has anyone here encountered any problem with Filipino tenant(s).

To the fellow landlord forumers, do you have any difficulty securing a 2 year lease?

What if the tenancy agreement says no sub-leasing, but the tenants do it anyway, what is my recourse. Practically, what can I do?

Thank you and appreciate your advice.

I have previous positive encounter with pinyo... Also one year tenancy I believe properly due to their employment contract... They take care the Hse well n not encountered payment. Only things was that their friends come over for short stay..and always asked for permission ...for first few time is Ok buy later part I declined but both parties were mutual on these.

On a year tenure, need to check agent comm . Is to ensure nn dispute. Generally is halve the amount for a two yeAr tenancy fee or other wise agreed..
If the marke trend is moving up, a year term is favourable，if' market trend is moving down then better to lock in 2 years

[radha08]

i am a TENANT and i am currently only renting based on a 1year lease...cos of the uncertainties ahead...hope that helps....

oh by the way did i also mentioned i am also a landlord and my tenant is renting my hdb flat from me on a 1 year lease cos he also not sure wat the future holds...

hope i dont confuse u...

[devilplate]

Looking at the economic situation next year, better to go for 2 years lease. And must spelt out clearly in TA that early termination equates to how many months penalty. Just my humble opinion.

useless one la bro

pack bag n balek kampong and u realise u r holding on to a piece of toilet paper

whahahahaha

realistically, all ur potential tenants cfm run away the moment they see such clause....whahahaha

[ysyap]

useless one la bro

pack bag n balek kampong and u realise u r holding on to a piece of toilet paper

whahahahaha

realistically, all ur potential tenants cfm run away the moment they see such clause....whahahaha

You are absolutely right on this point... once tenant run road, no way to get your $$... All those paper only works if tenant is still in our land or still can be found... police and small claim tribunal got no time for your complaints de... LOL!

[Santro]

For Pinoys, other concern is they tend to further sublet it to reduce the monthly outgoing. Have to be very careful on who you rent it out to.

[devilplate]

For Pinoys, other concern is they tend to further sublet it to reduce the monthly outgoing. Have to be very careful on who you rent it out to.

those pinoy family wif kids shd be fine

hint hint

[dmonddd]

Last round if tenants ask for 1 yr lease you can ask them to look elsewhere

But now it is ok. Why?

Some quoted increasing rent. Is that what's really happening?
If so the landlord's minimum 2 years lease will hold. Why not?
Or can rent out for 2 years but at what price? Lower or higher comparatively?

[teddybear]

You sold your Residences@Evelyn is it? Why so negative on property prices nowsadays?

Last round if tenants ask for 1 yr lease you can ask them to look elsewhere

But now it is ok. Why?

Some quoted increasing rent. Is that what's really happening?
If so the landlord's minimum 2 years lease will hold. Why not?
Or can rent out for 2 years but at what price? Lower or higher comparatively?

[dmonddd]

always thought you are an agent/property investors. i cant afford

btw ain't what i'm quoting are real happenings on the ground.
all investors are standing down. Your definition of investors probably is different. Ask anyone with cash if they will buy another property.reply yes....if there's 'good" discounts.deep inside, they wanted sharp discounts. so where's the real demand.

prices are propped up by who? occupiers/investors /tenants?

if above is not the case, replies will come with figures in red bolded huge fonts

the drop in prices is inevitable. but the extent and when.

In some posts i do note inconsistency in quotes by some forumers. and some I really cant understand their own self conflicting views. they just flow and at times make a u-turn and runs off on opinions.

some like to compares prices in 70s, 80s, and 90s to show that properties are meant to be accumulated over years. Yeah rite if i have millions.

everyone knows this simple fact of inflation that property pries always on uptrend over time. But property market is cyclical like any other industry. so this is the downtrend time...same for airline stocks. latter may worsen with higher oil prices Q1 2012. why they have this term overheating bubble burst....before this i see the strong demand but the global countries crisis was never factored into expectations.

hibernation time on buying another
save for rainy days

You sold your Residences@Evelyn is it? Why so negative on property prices nowsadays?

[dmonddd]

Btw can see some knows most projects whether new or resale well
I don't. I only know handful and matter of fact learnt of some projects from this forum

Those who do have interests either as investor or agent and giving irrational views. Yes some will say hear what you want and read what bests

But let's not mislead others

[plastic]

those pinoy family wif kids shd be fine

hint hint

Yeah, mine is a couple, no kids. My concern is also reflected in the fellow forumers here. If they sublet it out, and claim that they are friends staying over, what can I say? Unless I keep checking on them, but I don't think I want to do that.

If I insist on 2 years, they could agree, but they could also disappear after one year. Right?

I know Filipinos are very hospitable and like to gather with their friends at home.

[devilplate]

Yeah, mine is a couple, no kids. My concern is also reflected in the fellow forumers here. If they sublet it out, and claim that they are friends staying over, what can I say? Unless I keep checking on them, but I don't think I want to do that.

If I insist on 2 years, they could agree, but they could also disappear after one year. Right?

I know Filipinos are very hospitable and like to gather with their friends at home.

Reject them lor since u dun feel comfortable.....

[dmonddd]

Yeah, mine is a couple, no kids. My concern is also reflected in the fellow forumers here. If they sublet it out, and claim that they are friends staying over, what can I say? Unless I keep checking on them, but I don't think I want to do that.

If I insist on 2 years, they could agree, but they could also disappear after one year. Right?

I know Filipinos are very hospitable and like to gather with their friends at home.

what other options you have?
your preference of tenant nationality?
you aint have much choices.

additional point - your view of future rent price.
but if you have very strong selling points for your condo..then it'll be otherwise

[dmonddd]

2 nationalities i know that have alot of relatives and friends staying over for holidays

[teddybear]

Yes, what you said fit basic very nicely!

Btw can see some knows most projects whether new or resale well
I don't. I only know handful and matter of fact learnt of some projects from this forum

Those who do have interests either as investor or agent and giving irrational views. Yes some will say hear what you want and read what bests

But let's not mislead others

[dmonddd]

some just lack others' attention in their real life.
you can see their real need to red bold their words or speeches.
Mr B & T make perfect couple.

LOL

[dmonddd]

i surprised to see at times, my quotes appear somewhere else in other threads but by someone else.
anyway, makes sense if one is consistent and non-conflicting to their own views but otherwise.....

Yes, what you said fit basic very nicely!

[peterng8]

A Filipino couple is interested in renting my apartment for 1 year, at my asking price. However, I would very much prefer a 2-year lease.

Should I wait for the next offer or accept the Filipino couple's offer (I still have some time to wait)? How are they like as tenants? Has anyone here encountered any problem with Filipino tenant(s).

To the fellow landlord forumers, do you have any difficulty securing a 2 year lease?

What if the tenancy agreement says no sub-leasing, but the tenants do it anyway, what is my recourse. Practically, what can I do?

Thank you and appreciate your advice.

I think you are quite new in the rental of your units... pinoy seldom 2 yrs..they like 1 yr best. dont ask me why he he...

If monetary factor is not a major consideration, pinoy generally not bad...

[plastic]

I think you are quite new in the rental of your units... pinoy seldom 2 yrs..they like 1 yr best. dont ask me why he he...

If monetary factor is not a major consideration, pinoy generally not bad...

Indeed, I have zero experience. Previously bought over a unit with tenancy, so did not have to look for tenant.

[rattydrama]

I have ever viewed units with pinos before. Usually there are more than 3-4 pax on a unit for 3b type of apartment. I suspect they also sublet out to their fellow pino friends and they usually do their own cookings.

[Komo]

I think you are quite new in the rental of your units... pinoy seldom 2 yrs..they like 1 yr best. dont ask me why he he...

If monetary factor is not a major consideration, pinoy generally not bad...

because employment contract term usually for one year only

[stiook]

Guess it is a matter of the ranks of your criteria - tenant profile, rent, tenor... Something has to give... If it meets all your criteria, then very good. For me, it was my first thing renting out (btw it is HDB so will be totally different from yours), so I went for profile, rent, tenor. Well, agent told me te rent is market although it is slightly off my target. But holding out another 1 or 2 months could mean I lose more... The 1-yr tenor works for a newly minted landlord like me... To learn and adjust...

[limfc]

You are absolutely right on this point... once tenant run road, no way to get your $$... All those paper only works if tenant is still in our land or still can be found... police and small claim tribunal got no time for your complaints de... LOL!

i agree, just 1 year is ok la... if times turn bad next year, then have to reduce rent lor, what to do...

even if 2 years contract, if demand & supply in favour of tenant also need to down rent... else they can pack and go... just my thoughts...