Senior
Just increase my rental by SGD 100 a month SGD 16.67 per person.
At First agent say tenants not willing to pay, I show the agent what is the market rate and also explain I am paying a few hundreds dollars more for my loan and SGD 100 is the lowest I can offer.
Also told my agent to rent my unit for SGD 2800 for 5 room HDB with one room lock, if the tenants not renewing.
Finally they accept the increase.
Ultimate Underdog
Originally Posted by Arcachon
Are you referring to HDB or condo rental?
So is it your point that the interest rate increases will ultimately translate to rent increase to be borne by tenants?
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Global recession is coming....
Interest rate increase definitely will lead to rental increase also (sooner or later)......
Rising tide lift all boats!
Senior
Maybe can tell the hawker rent increase don't increase their selling price, or Taxi driver petrol increase don't increase their fare.
Don't think most owner are doing charity work, someone have to pay, maybe MAS can help to pay.
Junior
hawker increase price, then eat at home, taxi increase, take bus, many option. good for you that you are able to increase rent. probably your tenant lazy to move...so 100 to them just do it.
Ultimate Underdog
Actually I had the same experience too. I increased the rent by over 12% over the last two renewals, the tenants just had slight objections but still agreed. To be frank, my unit was bought at 35% lower than my neighbours, but the current rent is 12+% above the median rent...hawker increase price, then eat at home, taxi increase, take bus, many option. good for you that you are able to increase rent. probably your tenant lazy to move...so 100 to them just do it.
I think maybe what matters is some PR skills and some luck?
I guess I will stop increasing if market remains stagnant.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Global recession is coming....
Will MAS admit their responsibility if property market crash because of their ABSD and TDSR measures or they will say MND responsibility?
Ultimate Underdog
Why would anyone need to admit any responsibility?Will MAS admit their responsibility if property market crash because of their ABSD and TDSR measures or they will say MND responsibility?
As a nation most of us hope for HDB and private prices to stall or dip. OCR prices has stalled definitely even if not considered as dip. We also make the conscious group decision to slow down the influx of foreigners, as Govt works extra hard to beef up all the transport infrastructure and decentralise to reduce overloading in central areas.
If we ask for it, we shall get it. But I have no doubts that when it comes to the crunch, the best decisions will always be made. For example in regulating future vehicle growth quota, pricing HDB to be affordable for singles etc... Many other things are already happening on the ground, just too sensitive to discuss openly here.
Not sure if what I saw was what Archachon is referring to.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
Don't worry for them. They will blame MERS, blame EU, blame FED.Will MAS admit their responsibility if property market crash because of their ABSD and TDSR measures or they will say MND responsibility?
Senior
100/6= 16.67hawker increase price, then eat at home, taxi increase, take bus, many option. good for you that you are able to increase rent. probably your tenant lazy to move...so 100 to them just do it.
if more than 6 person even less.
Senior
What they have done are long over due.
In 2006 I need 108,000 to buy a 2 Bedroom @ Southbank fast forward to now you need 310,000.
The buying power of my money have reduce to 30% due to money printing.
Money in the Bank depreciate faster than you can imagine.
Junior
LOL
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