Raising Rental

[evildoer]

if the tenants is good... i think i will stick with the same rental fee.

i have 2F & 1M malaysian tenant (Nurses).. they are good.. i am not going to increase the rental next year and beg them to stay on..

never need to chase for rental. every month early by a day or two.

 

[KPO_SAHM]

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...

Both my mil sister n bro renting their houses to Malaysian. Hardly raise rent for past 10+ years. Same tenants. They r good n helpful. There was once uncle fainted n had accidents at home, tenants helped him.

For hubby n i , we r renting one of our condo units to one tiongs. Rental pays on time, not creating any issues to neighbours, take good care of our unit as they r OCD. We have never raised rent for 4 years. And we don need to pay too. Why need to raise rent to chase off good tenants? Depending what TS wants....money or good tenant? Having good tenant is all about luck. We used to rent to Ang mo couple for 5 years. During hand over....the house was in a mess. Brand new unit...lots of cob webs on ceiling ( even I am staying for 17 years n my HDB I don face such issue) . Toilet bowl stained large patches with poo, floor never mopped. Floor rarely sweep. Lots of food bites found in kitchen. Furnitures damaged. Dinning table was not meant for outdoor , tenant placed it at balcony. SOFA stained with coffee. Brand new Oven used liao never cleaned. Aircon controllers were oily and stained

 

[Joe Mahmood]

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?

So you are renting a room with a live-in Landlord. Why don't you rent a room that has no live-in Landlord?

 

[qhong61]

So you are renting a room with a live-in Landlord. Why don't you rent a room that has no live-in Landlord?

Landlord need to stay in

 

[TiedInsurer]

So you are renting a room with a live-in Landlord. Why don't you rent a room that has no live-in Landlord?

I do. That's the $200 to $300 premium i was talking about. Usually no live-in landlord = condo. Next to impossible to find HDB with no landlord. Condo rooms are shitty and tiny compared to HDB because they've been segregated into tiny jailhouses, but they are still more expensive to rent, purely because don't have to deal with landlord BS.

 

[Joe Mahmood]

Landlord need to stay in

There are many HDB units or Condo Units renting rooms without live-in Landlord.

 

[TiedInsurer]

There are many HDB units or Condo Units renting rooms without live-in Landlord.

HDB that has no live-in landlord usually has a live-in "master tenant" instead. Then you get to deal with master tenant BS haha.

 

[Joe Mahmood]

I do. That's the $200 to $300 premium i was talking about. Usually no live-in landlord = condo. Next to impossible to find HDB with no landlord. Condo rooms are shitty and tiny compared to HDB because they've been segregated into tiny jailhouses, but they are still more expensive to rent, purely because don't have to deal with landlord BS.

Looking at the renting rate during COVID-19 Pandemic and now the room renting between Condo units and HDB is almost like same rate. The difference is Condo has all the private amenities for recreation but HDB none. That again depends whether the monthly maintenance fee the owner of the condo unit would absorb the cost or tenants have to bear it.

 

[Travis_Touchdown]

chiu raise they move then chiu heypi riaoz...

 

[TiedInsurer]

Looking at the renting rate during COVID-19 Pandemic and now the room renting between Condo units and HDB is almost like same rate. The difference is Condo has all the private amenities for recreation but HDB none. That again depends whether the monthly maintenance fee the owner of the condo unit would absorb the cost or tenants have to bear it.

I mostly look for the condos that have zero amenities. Not even a security guard. Those tend to be cheaper. The biggest "amenity" i want is to have nobody breathing down my neck micromanaging my life.

 

[Joe Mahmood]

HDB that has no live-in landlord usually has a live-in "master tenant" instead. Then you get to deal with master tenant BS haha.

Not really. Most of them are working colleagues or friends. All of them would know how much is rented out for the whole unit because their names are included in contract and they need to sign on every page of the renting agreement.

 

[TiedInsurer]

Not really. Most of them are working colleagues or friends. All of them would know how much is rented out for the whole unit because their names are included in contract and they need to sign on every page of the renting agreement.

Oh maybe that's the arrangement for FTs. Hard for sinkie to get similar.

 

[Linguist]

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...

Pray ur next tenants are tenants from "hell" with the increased in rental for cople of hundreds... kym?

 

[fortunehunter]

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...

If is chio bu with just bite the bullet.
If guy or Dino bu raise 1000 ask them to move out and find a chio bu tennant

 

[WarMage87]

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.

Very simple.

Put up rental listing, see who or how many bite.

If many many bite, bring the data to your current tenants and let them decide.

 

[buttbERry]

just say during next renewal lor

 

[meekiatah]

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.

I'm just a PAB GrabFood delivery rider, and don't work nights, not lightly to hit higher tier for a $2,400 gross rental increase.

 

[evildoer]

my previous tenants from "I" that was a night mare... i thought professional would take care of place they living nicely

Family with children.. left scribble all over my furniture and front door.. but i didn't see it cause the furniture color was dark. The washing machine is full of hairs.. that i need to replace for my new tenants...

Lucky i asked them to leave.. need my agent to call them every month to pay.. or else no call no pay.. act like boss..

I really really advise u all.. profiling is not racist. it's ur property.. they have bad reputation.. nobody is gonna pay for damages but yourself. DO NOT TAKE CHANCE on family, student, you know i know who.

i was offered about $200 more.. that is about extra $4800 for 2 years.. and i rejected it. i will leave a bigger headache after that..

 

[meekiatah]

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.

Don't have guaranteed tenant waiting list, but we have always managed to get replacement tenants for the past 7-8 years. And only have to terminate 1 pair only, normally can rent for long period..

 

[DragonFire]

Don't have guaranteed tenant waiting list, but we have always managed to get replacement tenants for the past 7-8 years. And only have to terminate 1 pair only, normally can rent for long period..

As with most things finance, it is an educated gamble. You balance your risks and decide whether or not to make a move.