Raising Rental

[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

 

[coyote]

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

That's what I said.

 

[meekiatah]

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.

Yes, I understand that "having to look for new tenants" may be a possible outcome and prepared for it...

 

[kuti-kuti]

Good tenants u raise they run away. Then comes the bad tenants with your new rental fees.

Which one u treasure more? Earning a few hundreds more with more headaches or less a few hundreds with less headaches?

 

[meekiatah]

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

I used the reason that many don't want to rent to that race, that's why she is paying over the odds .. but, in wondering why rent in Woodland, when her work place is in simei.

 

[toolbox03]

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.

Masterbedroom at least $1.2k with aircon for 2 person, chiu really undercut

Can raise until $1.5k also no problem

 

[superjellybelly]

rental rates are falling now. you should have raised them 2 years ago.

 

[kuti-kuti]

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.

Now, thats the reason why they are good tenants. Got trade off one

 

[antonpoh]

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..

Let them know 5-6 month in advance. Can also raise $100 first year and another $100 2nd year.

How much was your water and electric bill before they move in.

 

[meekiatah]

Masterbedroom at least $1.2k with aircon for 2 person, chiu really undercut
Can raise until $1.5k also no problem

not intending to undercut,they rented from me since 3 years ago...

 

[TiedInsurer]

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...

Their decision to stay or go will depend on factors other then how much you charge them. As a long time renter, i'm quite happy paying premium of $200 to $300 for a no bs landlord.

You'll have to ask yourself some honest questions about how you and your wife has been treating them. Is your wife always on their case for some minor bs?

 

[kan-kon]

follow garment on gst, increase in phase, and gib incentive?

asked maid to helped them once every month?

 

[meekiatah]

Let them know 5-6 month in advance. Can also raise $100 first year and another $100 2nd year.
How much was your water and electric bill before they move in.

increased $30-$50, but that's because I have tenants too occupying the same room before they moved in.

 

[ramlee]

I used the reason that many don't want to rent to that race, that's why she is paying over the odds .. but, in wondering why rent in Woodland, when her work place is in simei.

10kkj, punggol and sk no longer cheep. yishun out of the kwestion scared become siao lang

 

[meekiatah]

Their decision to stay or go will depend on factors other then how much you charge them. As a long time renter, i'm quite happy paying premium of $200 to $300 for a no bs landlord.
You'll have to ask yourself some honest questions about how you and your wife has been treating them. Is your wife always on their case for some minor bs?

I think we can be called what you meant by no bs landlord. other than we have been very hands off with them, got issue with the house I'm always very prompt in selling thought that's not frequent. my wife being a foreigner, we are frequently out of sg too.

 

[antonpoh]

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

You can't compare like that. That colleague could have rented out that master bedroom to 3 ladies so the rent is slightly higher. Or the master bedroom could be very well renovated with a study area..

 

[meekiatah]

follow garment on gst, increase in phase, and gib incentive?

asked maid to helped them once every month?

we got no maid, just normal peasants surviving daily..

 

[kan-kon]

we got no maid, just normal peasants surviving daily..

den helped throw rubbish? once a month?

 

[klavier]

Their decision to stay or go will depend on factors other then how much you charge them. As a long time renter, i'm quite happy paying premium of $200 to $300 for a no bs landlord.

You'll have to ask yourself some honest questions about how you and your wife has been treating them. Is your wife always on their case for some minor bs?

Agree with this.. if the landlord is difficult, any small increase would be the trigger for me to move. Usually people stay on because it is troublesome to move and already used to the location. However, since it is only a room rental, the part on troublesome to move is not exactly a big deal.. If it is the whole unit + have childeren then more things to pack etc and they likely wont leave,

Let them know 5-6 month in advance. Can also raise $100 first year and another $100 2nd year.

I would actually not let them know too early since they will have ample time to look for another location.

 

[TiedInsurer]

I think we can be called what you meant by no bs landlord. other than we have been very hands off with them, got issue with the house I'm always very prompt in selling thought that's not frequent. my wife being a foreigner, we are frequently out of sg too.

BS landlords to me are those who will hover over the tenant and control every small action. They are the type who will go check your toilet bowl everytime after you use the toilet, and kbkb if they feel you flush too much. They will time your showers and turn off the heater and water if your showers take too long. They take control of the aircon and knkb non stop because you used the aircon whole day on a sweltering saturday, even though you usually never use the aircon at all, even at night. If you and your wife frequently not in SG, then it's hard to be a BS landlord.

I say go for it. They likely cannot get better, because $1.2k in a master bedroom for a location like yours, and a good landlord, is a pretty good deal for the tenants. Just beware of the risks... because they are also ideal tenants for you as an absentee landlord. Be prepared that if they choose to move out, the next batch of tenants you get might be the type that wrecks your house when you're not around.