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?
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?
Never heard of that site. Whats its agenda?
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?
AGENT detected....Originally Posted by carbuncle
Generally, good and easily marketable rental property will not accept lease less than 1 year.
Originally Posted by Sleepyhead
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
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 .. ;-)
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?Originally Posted by richwang
Thy become service apartmentsOriginally Posted by 789
1 month stay hotel la. Duh...Originally Posted by richwang
Wonder if neighbourhood kopitiam or starbucksOriginally Posted by smallant
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.
Sorry, I've rented a MM to stay myself but never owned one.Originally Posted by 789
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.