Results 1 to 13 of 13

Thread: MM has shorter rental lease?

  1. #1
    Join Date
    Mar 2012
    Posts
    35

    Default MM has shorter rental lease?

    I read from Propertysoul.com that tenants for MM apartments usually sign very short rental contract instead of the usually 1 or 2 years.

    Is this true?

  2. #2
    Join Date
    Mar 2012
    Posts
    4,990

    Default

    Never heard of that site. Whats its agenda?

  3. #3
    Join Date
    Apr 2012
    Posts
    353

    Default

    Not unusual wat... Not just MM but normal condos too.

    My colleague, an expat, signed a 6 months lease whilst waiting for the wife to relocate over later, at which point I guess she will choose a better and more suitable unit for a longer lease?

  4. #4
    Join Date
    Jun 2011
    Posts
    6,134

    Default

    Quote Originally Posted by carbuncle
    Never heard of that site. Whats its agenda?
    AGENT detected....

  5. #5
    Join Date
    Apr 2012
    Posts
    335

    Default

    Generally, good and easily marketable rental property will not accept lease less than 1 year.

    Quote Originally Posted by Sleepyhead
    Not unusual wat... Not just MM but normal condos too.

    My colleague, an expat, signed a 6 months lease whilst waiting for the wife to relocate over later, at which point I guess she will choose a better and more suitable unit for a longer lease?

  6. #6
    Join Date
    Jul 2009
    Posts
    1,823

    Default short lease

    Yes, some sign 6 months contract - pay higher rental.
    There are some trying to sign 1 month contract (for NUS visiting lecturers) - paying 50% higher rental. Project Management Committee has to come up with house rule to ban it.

    Thanks,
    Richard

  7. #7
    Join Date
    Jan 2009
    Posts
    372

    Default

    MM operate same rules as condos .. Not hotels ... So be careful .. CEA uncles will gives the Agts involved a Kopi call & likewise ura will invite Owners for tea sessions .. ;-)

  8. #8
    Join Date
    Mar 2012
    Posts
    35

    Default

    Quote Originally Posted by richwang
    Yes, some sign 6 months contract - pay higher rental.
    There are some trying to sign 1 month contract (for NUS visiting lecturers) - paying 50% higher rental. Project Management Committee has to come up with house rule to ban it.

    Thanks,
    Richard
    So does it mean that rental yield for MM apartments could actually be lower because we need to factor in the vacant period in contracts?

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

    Default

    Thy become service apartments
    Quote Originally Posted by 789
    So does it mean that rental yield for MM apartments could actually be lower because we need to factor in the vacant period in contracts?

  10. #10
    Join Date
    Mar 2012
    Posts
    4,990

    Default

    Quote Originally Posted by richwang
    Yes, some sign 6 months contract - pay higher rental.
    There are some trying to sign 1 month contract (for NUS visiting lecturers) - paying 50% higher rental. Project Management Committee has to come up with house rule to ban it.

    Thanks,
    Richard
    1 month stay hotel la. Duh...

  11. #11
    Join Date
    Mar 2012
    Posts
    4,990

    Default

    Quote Originally Posted by smallant
    MM operate same rules as condos .. Not hotels ... So be careful .. CEA uncles will gives the Agts involved a Kopi call & likewise ura will invite Owners for tea sessions .. ;-)
    Wonder if neighbourhood kopitiam or starbucks

  12. #12
    Join Date
    Apr 2012
    Posts
    353

    Default

    My parents, when advertising their PC for rent within the compound's notice board, got called up from 2 families wanting to rent the unit for 3-4 months whilst their own unit gets renovated. They were willing to pay a bit more than the usual asking price.

    So looks like there is demand for 6 months or shorter lease term.

    My parents declined though.

  13. #13
    Join Date
    Dec 2009
    Posts
    349

    Default

    Quote Originally Posted by 789
    I read from Propertysoul.com that tenants for MM apartments usually sign very short rental contract instead of the usually 1 or 2 years.

    Is this true?
    Sorry, I've rented a MM to stay myself but never owned one.

    I am just saying this from my experience of renting my three one-bedroom units and a two-bedroom unit. Over the years, the tenancies of the former are much shorter and less stable compared with the ones of the latter.

    P.S. If agents can have their sites, why can't property owners set up their blog?
    Last edited by vip; 14-05-12 at 23:38.

Similar Threads

  1. Replies: 1
    -: 25-08-18, 08:32
  2. Expect longer MOP or shorter lease for HDB soon
    By phantom_opera in forum Coffeeshop Talk
    Replies: 98
    -: 18-03-13, 19:24
  3. Developers keen on shorter lease site
    By reporter2 in forum Singapore Private Condominium Property Discussion and News
    Replies: 18
    -: 23-11-12, 08:39
  4. is remaining lease important for rental yield calculation?
    By hopeful in forum Singapore Private Condominium Property Discussion and News
    Replies: 11
    -: 03-10-11, 11:17
  5. Finding a car rental company to lease/rent your car in Singapore?
    By cutepost in forum HDB, EC, commercial and industrial property discussion
    Replies: 1
    -: 18-05-11, 13:36

Posting Permissions

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