Raising Rental

[drkcynic]

Best to do some market research and see what is the rental in your area like instead of randomly increasing just because you feel like having a few hundreds more.

Your tenants might also be savvy, who knows next moment they see upstairs someone offer lower for the same thing.

No right or wrong, you want to up rent, you take the risks of them leaving and with that come all the misc costs in securing new tenants which might not be worth the trouble.

 

[kendrick272]

increase $100 i think still bearable, anything above also tight for them

 

[qhong61]

increase $100 i think still bearable, anything above also tight for them

Ten percent just nice

 

[TOKARA]

$1k is good. Some areas can be lower. Every landlords will think their rentals are below market rates like post #13 until they started renting the place out... The market will adjust itself.

Master bedroom leh

 

[qhong61]

Best to do some market research and see what is the rental in your area like instead of randomly increasing just because you feel like having a few hundreds more.

Your tenants might also be savvy, who knows next moment they see upstairs someone offer lower for the same thing.

No right or wrong, you want to up rent, you take the risks of them leaving and with that come all the misc costs in securing new tenants which might not be worth the trouble.

Any paying agent commission

 

[qhong61]

Master bedroom leh

If tenant got budget then ok.
Else they may decide to move to common room.
In another unit.
For $1k.

 

[chongquan82]

Col not a good excuse

Raise jiu raise

Mybfd

 

[qhong61]

faster listen to yr wifu lor

Happy wife happy life.

 

[kendrick272]

If tenant got budget then ok.
Else they may decide to move to common room.
In another unit.
For $1k.

actually true, after all they not staying for long, just need a roof. Probably malaysians i guess

 

[NeonX]

Landlord DK, just triple rent

 

[meekiatah]

If tenant got budget then ok.
Else they may decide to move to common room.
In another unit.
For $1k.

Both are EP holders, and non smokers (this is something I especially value).. Definitely can afford, is whether they accept or not..

 

[qhong61]

Both are EP holders, and non smokers (this is something I especially value).. Definitely can afford, is whether they accept or not..

Ur choice

 

[whatheheck]

actually true, after all they not staying for long, just need a roof. Probably malaysians i guess

hokay go big or go home
up to 1500, if zao, offer 900 to make them stay

 

[asiafrenz]

can still check rental data from HDB/URA ?

 

[NightGhost]

High rental also need to check if hit which level of tax because rental incum counts as others incum in tax submission.
If im not wrong
If increase liao collect more money but end up hv to pay more tax jialat liao which make u across different tax lvl.

 

[qhong61]

hokay go big or go home
up to 1500, if zao, offer 900 to make them stay

Just treat as gamble.
Either win big.
Or lose all.

 

[DragonFire]

"COL has risen, I want to increase your rent by $xxx. If you buay song, FO."

This works well if you are guaranteed another tenant immediately. Else you are shooting yourself in the foot if they really FO and you cannot get a tenant at a much higher rate for a couple of months.

It takes a year at 10% higher rent to get ROI on 1 month of rent loss. Think about that a moment.

 

[tellim]

My fren decided to raise the rental cos he buay song he rent cheaper than market rate and the guy seems to be able to afford more cos always see him buy stuffs online. If the tenant can buy stuffs mthly amt more than 100-200 a mth, he should be ok to top up 100-200 more mthly right?

End up the guy left and now the room empty for months.

However my fren is not sorry..he rather leave it empty than rent to leeches.

 

[83sarahtan]

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...

Wah steady tenants for 3 years ah, that one hard to find leh. Maybe just bring it up nicely—say you appreciate them, but due to rising costs (utilities, property tax etc.), need to adjust slightly. Give them 1-2 months’ notice and keep the tone friendly. Good tenants usually understand one if you explain properly.

 

[Ronaldo88]

Walao eh.. Old flat room still want increase rent