Raising Rental

[Lchlch]

Hi folks

I have a pair of tenants renting my master bedroom for the past 3 years. Good tenants, seldom cook and never late in payment.

With the high COL now, I'm intending to raise their rental by couple of hundreds.

How best to bring up to them, can anyone advise...

Currently how much you charge them?

 

[tatsit]

Use chatgpt to draft

 

[meekiatah]

In the east, 5-7 min walk to mall, mrt station and bus interchange. Not Tampines.

 

[meekiatah]

Currently how much you charge them?

Refer to #19.

 

[lizzykai]

In the east, 5-7 min walk to mall, mrt station and bus interchange. Not Tampines.

master bed room this caliber should be 1.2-1.3k

 

[meekiatah]

it makes matter worst when SO got colleague renting in Woodland $1.4k for master bedroom.

 

[qhong61]

Moi rather rent at reasonable rate than lose nice tenants..greedy owners..up 200..usually is 50

And get tenant from hell

 

[mynickname]

Rental is usually depending on market rate. Not suka suka you said high col then you can raise.

We do not know your current rental is high or low, so cannot comment whether your raise is "market rate".

As to how, you just tell them. The worse is, they will move to rent from your neighbors.

Good to be landlord right? No need to do anything(like forumners here said), just shake legs and raise rental.

What market rate? No law against raising rents for any reason. Whether people take up rent different story.

 

[qhong61]

Master for couple with ac and wifi, plus electricity/water inclusive at $1k.

At times, when we change furniture in the house, we will included theirs as well. Actually, I'm reluctant to raise their rental, but my SO is kpkb how my rental is below market rate lah, blah blah.. for the past year..

I'm only thinking about raising $200 only. $200 after 3 years, I think it's not too much that they will chuah tio..

Try and let us know

 

[meekiatah]

And get tenant from hell

yes, that colleague is what many here will call from hell, but she's from boleh land, not from since south asia country that cannot be named..

 

[PARKRANGER]

The other thread said rental market down and bad



Here want up rent
If confident can find new tenant then go try

 

[wongminmin]

good tenant > increase rental.

if u increase rental and tio hell tenant, then gg.

 

[nasfieldjohn]

Master for couple with ac and wifi, plus electricity/water inclusive at $1k.

At times, when we change furniture in the house, we will included theirs as well. Actually, I'm reluctant to raise their rental, but my SO is kpkb how my rental is below market rate lah, blah blah.. for the past year..

I'm only thinking about raising $200 only. $200 after 3 years, I think it's not too much that they will chuah tio..

faster listen to yr wifu lor

 

[amankun]

Can consider stagger their increase in price? Say increase to 1.3K, first 3 months discount $200, following 3 months discount $100.

 

[j4jersey.]

Whatever you do, be prepared for the accept or reject from the tenant,
Make sure you are prepared to accept all scenario.
My super good common room tenant has been on $550 per month until last year $650.

 

[fartking]

Me too, one room I housed 4 girls, wifi, aircon, laundries and cooking, @$450 per pax since covid till now I have not raised their rental. All pay up promptly offcourse there was months when their families need money delay one month. Moreover they take care of my cat whenever Im away for holidays of course I do pay them for that.

 

[starrynite138]

Master for couple with ac and wifi, plus electricity/water inclusive at $1k.

At times, when we change furniture in the house, we will included theirs as well. Actually, I'm reluctant to raise their rental, but my SO is kpkb how my rental is below market rate lah, blah blah.. for the past year..

I'm only thinking about raising $200 only. $200 after 3 years, I think it's not too much that they will chuah tio..

$1k is indeed cheap. Raising $200 is still reasonable and may also still cheaper compared to others. I raised my MIL tenants 2 months back cos too cheap and was certain they would stay. They accepted and gave me the ok sign on WhatsApp .
I told them due to raising costs as reason.

 

[ramlee]

it makes matter worst when SO got colleague renting in Woodland $1.4k for master bedroom.

Next year this time when RTS is up and running, colleague will be lucky if he can get $800

 

[BigMonkey]

chiu earning money and come edmw ask for advice. better charge chiu a consulation fee.

 

[ramlee]

People I've spoke to says my rental is below market rate ($1k with ac & wifi). In fact, I've been reluctant to raise their rental cos they have been good tenants.

say utilities increased which is a fact and TC fee also