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Thread: What is LONGEST time you had NO tenant...

  1. 24-08-12, 21:19 #1
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    Default What is LONGEST time you had NO tenant...

    i know that quite a few bros here using property to rent including myself i used to rent out my hdb...but was just thinking SERIOUSLY with all the upcoming new condos/apts..etc..will the rental mkt be forever rosy?

    Any bro care to share how long is longest you had your property empty before finding tenant

    My recent experience with my hdb flat was that my tenant called me one fine day saying he moving out cos he bought an apt...but we had a mutual agreement/understanding that either party can serve 2 mths notice to terminate the tenancy...but i was like thinking if i really really depended on the rental income to service my mortgage etc thed die liao..

    i know thats why golden rule is have at least 6mths mortgage standby in case of any hardship...

    But nevertheless still curious how most bros feel about FUTURE rentability of lets say mass market condos...those ponggol/flora road type
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  2. 24-08-12, 21:34 #2
    ysyap
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    My suspicion is rental market will face a slight hiccup for now. Give it some time to stabalize and find that equilibrium between buying and renting.
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  3. 24-08-12, 22:06 #3
    DC33_2008
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    It really depends on location. Just rented out a unit with 20% higher rent. On the same day, another australian couple wants to view my place. But too late. The longest that I have left the unit vacant was 1 month.
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  4. 24-08-12, 22:15 #4
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    Quote Originally Posted by DC33_2008
    It really depends on location. Just rented out a unit with 20% higher rent. On the same day, another australian couple wants to view my place. But too late. The longest that I have left the unit vacant was 1 month.
    i get that feeling too somehow i yet to hear somebody say property in singapore CANNOT rent...i guess all about $$$...the tenant is ALWAYS there...if everybody asking $3k rental BUT no tenant bite u just advertise $2.5k...SURE got TENANT....
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  5. 24-08-12, 22:55 #5
    DC33_2008
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    cAgent is the one who will ask u to drop price if left vacant for too ong.
    Quote Originally Posted by radha08
    i get that feeling too somehow i yet to hear somebody say property in singapore CANNOT rent...i guess all about $$$...the tenant is ALWAYS there...if everybody asking $3k rental BUT no tenant bite u just advertise $2.5k...SURE got TENANT....
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  6. 24-08-12, 23:03 #6
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    thats why i feel no matter what price u buy as long as location is good no need to worry as long you can afford downpayment and have standby $$$ in case no tenant...spore property very safe...after 30 years of rental you only paid 20% for your property the balance 80% paid by your good tenant...
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  7. 24-08-12, 23:17 #7
    DC33_2008
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    It is a great feeling to have tenants paying for your mortgage. Especially when it is fully paid up and receives the TITLE DEEDS.
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  8. 24-08-12, 23:21 #8
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    Quote Originally Posted by DC33_2008
    It is a great feeling to have tenants paying for your mortgage. Especially when it is fully paid up and receives the TITLE DEEDS.
    yup that is the best...
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  9. 24-08-12, 23:23 #9
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    In June this yr, both my tenants exercised the diplomatic clause and left me with 2 empty units. The experience was quite depressing. The 1st unit took me about 4 weeks to secure a tenant, while the 2nd unit took me only 1 week.

    Besides the location and nearby amenities, i think the age of the project plays a part too. Newer projects tend to be easier to rent out. Sometimes its also a matter of heng-suay. For 4 wks , i failed to receive any offer that could meet my asking, but one fine day i received 2 offers which could pay more than what i have bargained for. Tenants sometimes also stress and feel the competition when they see other viewers viewing the same unit
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  10. 24-08-12, 23:27 #10
    DC33_2008
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    It is true. My tenant leaving on this Thu and the prospective tenant view the place Wed and like the place. Moving in next week.
    Quote Originally Posted by zeamybro
    In June this yr, both my tenants exercised the diplomatic clause and left me with 2 empty units. The experience was quite depressing. The 1st unit took me about 4 weeks to secure a tenant, while the 2nd unit took me only 1 week.

    Besides the location and nearby amenities, i think the age of the project plays a part too. Newer projects tend to be easier to rent out. Sometimes its also a matter of heng-suay. For 4 wks , i failed to receive any offer that could meet my asking, but one fine day i received 2 offers which could pay more than what i have bargained for. Tenants sometimes also stress and feel the competition when they see other viewers viewing the same unit
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  11. 25-08-12, 00:42 #11
    CondoInterested
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    As a whole unit, 9 months. Not because no tenant, but we are just being choosy.

    As a single room, also almost 9 months (different period as above). Also because choosy.
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  12. 25-08-12, 11:51 #12
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    2 months. Views but no takers.
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  13. 25-08-12, 13:25 #13
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    ok so i guess rental market still strong but maybe for those landlord who specify.....no indian/chinese....they have a hard time....
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  14. 25-08-12, 14:54 #14
    stiook
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    Quote Originally Posted by radha08
    ok so i guess rental market still strong but maybe for those landlord who specify.....no indian/chinese....they have a hard time....
    Better be choosy if can afford to... otherwise can lose more after lease is up.
    I took 2 mths to rent out... now lease expiring. Hopefully will be a short wait if tenant does not renew.
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  15. 25-08-12, 15:00 #15
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    Quote Originally Posted by stiook
    Better be choosy if can afford to... otherwise can lose more after lease is up.
    I took 2 mths to rent out... now lease expiring. Hopefully will be a short wait if tenant does not renew.
    FROM personal experience i TOTALLY agree with you....NO INDIANS!!...DOGS can cos i love DOGS
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  16. 25-08-12, 15:10 #16
    DC33_2008
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    Have rented out to Indian who have been with Cisco in US. The family is quite nice and the place very tidy. It really boils down to the person and not nationality.
    Quote Originally Posted by radha08
    FROM personal experience i TOTALLY agree with you....NO INDIANS!!...DOGS can cos i love DOGS
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  17. 25-08-12, 15:15 #17
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    Quote Originally Posted by DC33_2008
    Have rented out to Indian who have been with Cisco in US. The family is quite nice and the place very tidy. It really boils down to the person and not nationality.
    yup totally agree but generally 99.999999% of them...cannot make it..i talking those DIRECT import from India type...NOT US born or those born in Kandang Kerbau and carry M16 rifle charge up a hill like ME...
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  18. 25-08-12, 16:45 #18
    Allthepies
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    2 days for me...
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  19. 26-08-12, 11:11 #19
    starrynight
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    Someone should poll the owners of Reflections at Keppel Bay

    For some of them, it must already be 3+ months?
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  20. 26-08-12, 11:27 #20
    DC33_2008
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    I believe there is an optimum size of condo for rental. Too large development with more than 300 units can be difficult. What do you think?
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  21. 26-08-12, 14:00 #21
    howgozit
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    Combination of location and asking rental will affect the rental downtime...

    The longest for me.... 9mths... that was after the '97 financial crisis.

    Original tenants let go diplomatic clause and vacated. Finally relented on asking rental after 9 depressing months... meanwhile paying conservancy, higher property taxes and servicing loan. The eventual rental was nearly half of original. Taught me a valuable lesson.
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  22. 26-08-12, 22:06 #22
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    Quote Originally Posted by starrynight
    Someone should poll the owners of Reflections at Keppel Bay

    For some of them, it must already be 3+ months?
    http://www.propertyguru.com.sg/proje...bay-745/rent/1

    ...no wonder
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