Newbie
If you will to rent out your apartment, how much are you willing to spend on the finishing, eg sofa, curtains, fridge, washing machine, TV etc? Do you all normally provide bed + mattress for the tenant or need to wait for them to ask? Mind to discuss here?
What type of tenant should I avoid?
Junior
avoid personal lease.Originally Posted by Lav123
avoid singles.
avoid 1yr lease.
avoid those who speak putonghua, tagalog, hindi.
avoid dark-skinned tenants.
accept company lease
accept families
accept 2yr lease
accept those who speak japanese, korean, english
accept fair-skinned tenants.
how big is your apartment?
Newbie
$13k for 2 rooms, $18k for 3 rooms.
Prefer these tenants.
Last edited by walkthetiger; 12-10-13 at 00:16.
ipropertyguru
Bro, 1st two criteria quite tough leh. Increasingly companies are doing away with corporate lease. Let employee go lease themselves. To me 1 yr or 2 yrs both ok.
Senior
wow your criteria quite racist leh ...
my nephew renting his Meyer condo to 'Dark skinned' tenants. ...
they are super good tenants ... so cannot generalize..
also many fair-skinned tenants, don't take care of your condos..
Newbie
It's very funny.
The only reason not renting to those speaking Hindi (some are actually quite good) is because of their cooking, they will leave a permanent curry spell in your home.
Those speaking Putonghua and some of the Tagalog, most may secretly sublet until they have enough to stay there for free or even make money, you have to install camera at the door entrance to monitor or do surprise checks.
Anyway, it is like interviewing, you see the tenant siok, then start with 1 year rent, and if no good, after 6 months you can give them notice for 1 month, and they can go. Just say you need to come back to stay.
Last edited by CondoInterested; 12-10-13 at 08:17.
Senior
If its an empty apartment, give it a fresh coat of white paint, nice sets of curtains, and make sure you engage professional cleaners to clean up the toilets. If need to even spend some money, get it refurbish into tip top condition.
As for appliance, most standard are fridge and washer/dryer, but only buy after you confirm tenant, just in case they have their own. (No one will complain to wait for brand new white goods). If you want to go upmarket to target at ang moh tenants, then be prepare to throw in dish washer as well.
As for the other stuffs like sofa bed etc, keep that out first. Just market your apartment as partial furnished or fully furnished.
Personally I will only be interested in corporate lease of min. 2 years, or else, it is not worth my time.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Mercedes Lover
I used to target only corporate lease as I thought it's always easier to deal with a company. However over the years I realized they have the higher tendency of breaking lease / exercising diplomatic clause due higher chances of job rotations or urgent need to transfer them out to other countries.
Some good companies will continue to pay you rent till the end of the 14th mth, while some not so good ones (the bigger firms with large pool of employees esp) may just chuck in some replacement to continue with the lease, and u have no choice of the tenant profile. It makes your unit more like a hotel. I have had experienced at least 3 times that my lease got broken, and it's quite sian to go through the process over and over again ...
On the other hand, my experience of personal lease is that they are more committed, and takes better care of your unit as they know any compensation will have to come out from their own pockets..
Newbie
Thank you everybody. My apartment is slightly bigger than a shoebox with 2 bedrooms and a balcony. The apartment is actually quite clean during the handover, not much afford needed to clean up except that the workmanship is not so good and quite a lot of defects. Normally how long it takes the developer to rectify the defects. I had submitted my defect list on Sunday evening thru email but so far nobody contact me yet.
How we know whether the agent is committed or not? The agent who sold me the unit called me twice to check whether I want to rent out the unit or not, should I let him try? Can I get 2 or more agents to help me with the renting, is it advisable?
Last edited by Lav123; 12-10-13 at 09:05.
Senior
fair skin tenants wear shoes in the house all the time. never clean the kitchen. at the end of the lease the marble floor is gone and the kitchen floor is thick with grime.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
Senior
Thank you everybody. My apartment is slightly bigger than a shoebox with 2 bedrooms and a balcony. The apartment is actually quite clean during the handover, not much afford needed to clean up except that the workmanship is not so good and quite a lot of defects. Normally how long it takes the develop to rectify the defects. I had submitted my defect list on Sunday evening thru email but so far nobody contact me yet.
Sounds like its st. Pat res? Anyway now tenant pool is less plus supply is higher u have to wait a while and be flexible.
“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King, Jr.
OUT WITH THE SHIT TRASH
https://www.facebook.com/shutdowntrs
Junior
Have u got an agent to market your house??? If yes, use him/her to do all the legwork.... He/she will liase with developer to fix this problem... U can also ask him/her to get curtain/lighting/etc... All up to u.... Or u can do it own your own and use credit card to get rebate etc... But u need to do measurements of space for fridge/dryer/washer...Thank you everybody. My apartment is slightly bigger than a shoebox with 2 bedrooms and a balcony. The apartment is actually quite clean during the handover, not much afford needed to clean up except that the workmanship is not so good and quite a lot of defects. Normally how long it takes the develop to rectify the defects. I had submitted my defect list on Sunday evening thru email but so far nobody contact me yet.
As for tenants, your house is like a long term hotel.... When takes get broken after the contract, u still holding their 1/2 month deposit to fix things... Ent get over paranoid... View the house as a money making machine... U win some, u lose some... Your job is to get higher pay at work, spare cash from rental and be HAPPY
Newbie
2 of my friends rented their units to those who speak "putonghua", after the lease expired, one of the tenants left with the toilet unclean, dark spots all over in the toilet bowl while the other left with packets of unfinished lunch box all over the floor.
Junior
I have only rented once to putonghua speaking tenants during SARS period. One of my worst tenants. I deducted a lot of the deposit at the end.
Please remember to take the 2 month deposit. Nowadays they try to negotiate for lower deposit but don't give in.
Bombard the developer's representative with calls until they fix a date for rectification of your defects. Or else they will just drag on.
Last edited by chiaberry; 12-10-13 at 09:23.
Mercedes Lover
Defect rectifications may take days or up to months, depending on your situation. Also, If you are among the first few units to submit the defect list upon top, the contractor might be able to start early, but those who submit later will have to queue. Sometimes it helps to make noise and bang table.Thank you everybody. My apartment is slightly bigger than a shoebox with 2 bedrooms and a balcony. The apartment is actually quite clean during the handover, not much afford needed to clean up except that the workmanship is not so good and quite a lot of defects. Normally how long it takes the developer to rectify the defects. I had submitted my defect list on Sunday evening thru email but so far nobody contact me yet.
How we know whether the agent is committed or not? The agent who sold me the unit called me twice to check whether I want to rent out the unit or not, should I let him try? Can I get 2 or more agents to help me with the renting, is it advisable?
As for agents, it depends on Heng Suay. There are typically 2 schools of thoughts .. Some owners prefer to leave everything to a single or couple of agents (exclusive), pass them the keys to arrange their own viewings, and owners totally wash their hands off from the renting process (except when signing the papers). Some other owners would prefer to cast the net as wide as possible to a large pool of agents (non exclusive) and whoever comes to them with the best deal, will get the deal. But for the latter, owners will need to spend more time and effort in opening the doors for each and every of the viewings.
So it depends on which approach suits your schedule or preference more. Good luck!
Newbie
Oh, I didn't know that the agent can help to liase with the developer to fix my defect problem, that's good but I haven't got any agent yet leh. We had already got our lighting and a ceiling fan and had install some of the lighting already. Ceiling fan will have to wait for all the defects to be rectified.Have u got an agent to market your house??? If yes, use him/her to do all the legwork.... He/she will liase with developer to fix this problem... U can also ask him/her to get curtain/lighting/etc... All up to u.... Or u can do it own your own and use credit card to get rebate etc... But u need to do measurements of space for fridge/dryer/washer...
As for tenants, your house is like a long term hotel.... When takes get broken after the contract, u still holding their 1/2 month deposit to fix things... Ent get over paranoid... View the house as a money making machine... U win some, u lose some... Your job is to get higher pay at work, spare cash from rental and be HAPPY
Thought of getting a sofa bed for my living room but I'm afraid that the tenant might spoil my floor by dragging the sofa in order to convert it into the bed.
Mercedes Lover
Good to install lightings, curtains or even buy the white goods first, cos having nice lightings and a nice set of curtains can really make a difference to your house .. But for other furniture such as sofa and bed, don't buy first. Some tenants may prefer partial furnish and have their own furniture. Even if they do want fully furnish eventually, they will typically come out with a list of items and u can start negotiating which are the items to be included or excluded .... Not necc to give them all
Junior
The defects warranty is for a year... What I do is, before the warranty expires, I tell my agent to check with tenant what defects they still have... My agent will visit the site and pass list of defects(if any) before the 1 year period for developer to fix...
My agent very hardworking because he does a fair bit of rental for me...
Mercedes Lover
My most respectable chestnut bro ... It's good to know you have such a wonderful agent, but I assume that's because u have already established a good and long term relationship with him.The defects warranty is for a year... What I do is, before the warranty expires, I tell my agent to check with tenant what defects they still have... My agent will visit the site and pass list of defects(if any) before the 1 year period for developer to fix...
My agent very hardworking because he does a fair bit of rental for me...
But for other new owners .. They may not have the privilege ... Some may be given false hopes and set the wrong expectations for agents, end up feeling exasperated waiting for things to happen
Junior
stereotype although quite unfair, it is a quick way.
there maybe a few putonghua who dont spit, but they are clearly in the minority. Yes it is unfair to the few putonghua who dont spit. but that's life.
i dont discriminate based on race.
if there is dark-skinned japanese who speak hindi, then most likely it is a no no.
if there is white-skinned indian who speak japanese but cannot hindi, then most likely it is a yes yes.
as illustrated above, i am not a racist.
anyway, if want to rent out to those on the negatives list, the premium better be worth it.
"Pecunia non olet"
Junior
usually it is for those with multiple-property owners. single property owner hard to establish such relationship.
Newbie
How much should I pay for the agent's commission and what should I exclude from the tenancy agreement? I know one of it is to cancel the clause, "no commission for renewal of tenancy", am I right?
If the tenant default his/her rental, can I get the agent to talk to him/her?
Normally how is the mode of payment, by cheque or Giro?
Senior
0.5 months for 1 year lease. Depending on diplomatic clause, sometime if they sign 2 years, I will only pay 0.5 at the beginning, and another 0.5 1 year later. This is to avoid a situation where you pay agent for 2 years lease, but the tenant break lease after 1 year.
Agent are suppose to do the dirty work for you, including entertaining complains. thats what they are paid for.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Senior
Can meh? How does their company deal with it? Thought there is standard clause to protect landlord. Pity agent.
Junior
Bro, I just found this agent a few years ago.... When I got Botannia, he did everything for me... He did not know I had a few units... My previous agent was sleeping and lost my deal....
You need to discuss with the agent if he/she can provide such services.... There will be agents willing to do...
If u go banking... Same thing... No RM the same leh.... U just need to find the rite one and demand your rites... If cannot find, too bad lar...
Cheers
Oh, btw, this agent was quite new on the job and super hungry... Fit my style...
Last edited by chestnut; 12-10-13 at 14:33.
Newbie
In the diplomatic clause, the tenant who exercises it (only after 12 months and with 2 months notice) is supposed to pay back to the landlord the prorated amount that was already given to the agent. This is already in the standard contract.
Senior
Sorry, I made a mistake. its for 3 years lease, I would pay my agent commission for 2 years, balance 0.5 months will be paid after 2nd years.
Not sure if this is standard arrangement, but this is what I have been doing.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
I consider it to be a 2 year contract with option to extend for another year at a mutually agreeable rent.
Senior
It's a 3+1 actually.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Junior
I don't know about the others, but all these years I have had a 2+1 contract. 3 years is a long time, not surprising if there is a higher chance of breaking contract before the time is up.
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