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Thread: How is the rental market now?

  1. #1
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    Default How is the rental market now?

    Hi all,

    This is my maiden post in this forum and also quite a novice in investment. Just wondering:-

    1) How is the general market now, especially in Bukit Timah/ Dunearn Road area, for a 3-bedder?

    I have been marketing my 10-year old 3-bedder good condition and facing unit for the past 2 months but till date, it hasn't been successful. My asking is slightly below market (10% below) rate as I'm interested to attract a bigger pool of potential tenants to select and not too concern with getting high yield. Yet, it seems rather quiet last few months.

    Thus I'm quite curious what's the market like now at other areas. I suspect the recent TOP projects like Cascadia, Floridian, Jardin is affecting the rental of older projects like mine but then again their rents are higher.

    Any thoughts?

  2. #2
    Senior

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    welcome welcome welcome...i have been trying to sell my 7 year old car on sgcarmart for past few weeks...i dropped the price by 10% still unable to sell later today i taking it to a dealer and might have to accept 20% to 30% below mkt price...though NOT my car sale is not related to ur rental...but the theory still the same...

    Market is FLOODED with cars and apartments for sale/rent...

    good luck...just wait a while a lot of GURUS here to help...they will talk more sense than my NON-sense...
    [LIST][/LIST]In the final analysis.....its NOT whether you have a diploma,degree,masters OR PHD....its whether you have a HDB/PC/EC or LANDED...

  3. #3
    东方

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    Get an agent. You dont have the scale of network.

  4. #4
    mutant powerpuff

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    [B]This was spyro's reply to East Lover in another thread[/B]
    [I]"[/I]How long to rent out after collect key for OCR 2 bedder?" dated November 19th, 2012

    [URL="http://forums.condosingapore.com/showthread.php?t=15642&page=49"]http://forums.condosingapore.com/showthread.php?t=15642&page=49[/URL]

    Quote Originally Posted by spyro
    Hi sis, if u hv a fax machine at home, u can fax ur property profile to
    [I]relocation company(google it). Must take pic n do nice nice lah. They hv their [/I]
    [I]in house staff/agent. N since they r already taking comm from tenant, u can nego [/I]
    [I]comm with them. 1/2 month they will jiak. This method high hit rate, at least [/I]
    [I]for me.[/I]

    [I]Another way is determine ur tenant profile( ur tenant wud come [/I]
    [I]from nearby offices, companies. So, target a few multi national companies n fax [/I]
    [I]them. Do take note diff company hv diff financial year( expat normally come in a [/I]
    [I]new FY). This method see luck. HR good one will KIV ur property[/I]

    [I]Like i [/I]
    [I]said, abit of work( i take it as a personal project lor, n quite fun) n save [/I]
    [I]some $$. With the $$ saved can do up ur house nice nice. [/I]

    [I]Hope it [/I]
    [I]helps. [/I]
    [I][/I]

    [I]Dun [/I]
    [I]shoot me hor, my 2 [/I]
    [I] [/I]
    [I] only. thks [/I]
    [I] [/I]

  5. #5
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    Quote Originally Posted by Jaykj
    Hi all,

    This is my maiden post in this forum and also quite a novice in investment. Just wondering:-

    1) How is the general market now, especially in Bukit Timah/ Dunearn Road area, for a 3-bedder?

    I have been marketing my 10-year old 3-bedder good condition and facing unit for the past 2 months but till date, it hasn't been successful. My asking is slightly below market (10% below) rate as I'm interested to attract a bigger pool of potential tenants to select and not too concern with getting high yield. Yet, it seems rather quiet last few months.

    Thus I'm quite curious what's the market like now at other areas. I suspect the recent TOP projects like Cascadia, Floridian, Jardin is affecting the rental of older projects like mine but then again their rents are higher.

    Any thoughts?
    Advertise in classifieds, open up to any agt who brings the tenant with no exclusive, pay the std commission and you would have got it rented it out within 2 mths if it was really priced 10% below market rate.

  6. #6
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    Quote Originally Posted by nav14
    Advertise in classifieds, open up to any agt who brings the tenant with no exclusive, pay the std commission and you would have got it rented it out within 2 mths if it was really priced 10% below market rate.
    I also got my shop rented out after 2 months end last year.

    But was 15% below asking.

  7. #7
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    Quote Originally Posted by mcmlxxvi
    Get an agent. You dont have the scale of network.
    Hi 1976,

    thx for your suggestion. Sorry for the confusion, I have an agent who is marketing for me and has been advertising in pptyguru and ST Class (Wed and Sat) every 2 weeks. Well, pray that response will be better and its due to holiday season

  8. #8
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    Quote Originally Posted by buttercarp
    [B]This was spyro's reply to East Lover in another thread[/B]
    [I]"[/I]How long to rent out after collect key for OCR 2 bedder?" dated November 19th, 2012

    [URL="http://forums.condosingapore.com/showthread.php?t=15642&page=49"]http://forums.condosingapore.com/showthread.php?t=15642&page=49[/URL]
    Thx buttercarp for the referral....guess I'm too lazy, that's why engage an agent.

  9. #9
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    Quote Originally Posted by nav14
    Advertise in classifieds, open up to any agt who brings the tenant with no exclusive, pay the std commission and you would have got it rented it out within 2 mths if it was really priced 10% below market rate.
    Hi nav14,

    the asking is around $5k for most units but I'm asking $4.5k. i did not sign any exclusive but also didnt open to other agent except for 1 other agent friend who volunteerd to look around for me.

  10. #10
    Mercedes Lover

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    Quote Originally Posted by Jaykj
    Hi nav14,

    the asking is around $5k for most units but I'm asking $4.5k. i did not sign any exclusive but also didnt open to other agent except for 1 other agent friend who volunteerd to look around for me.
    Jaykj - Do you have many viewers so far? If yes, it may be good to ask them for feedbacks via the agents. Sometimes we may be blinded by certain 'push' factors that could be driving our potential tenants away...

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