Raising Rental

[kickim]

wah 1 rm 4 pax, 450x4 is 1.8k leh

 

[krikering]

how does the landlord bring it up to those restaurants?

Bargaining power is with the landlords here one.

Unlike e.g Japan, etc. where if tenants don't want to move. Landlords cannot force them to move, because need mutual consent to move.

 

[kickim]

OP, i am renting out my 2 common rooms too so i know where u are coming from.

Rent increase is a must imho.
Think of it this way, not only are you denying extra income, you are also spoiling market for other owners.

If you treasure tenant, just need to have a good talk to them.
They also know the market rate, can jiak you they will definately jiak you.
They also know outside hard to find such low cost unit and hassel of moving, hassel of dealing with new landlord.

You just have to learn how to nego properly.
Politely raise the issue, tell them your desired price (be ready to cut a bit) give them proper notice say 1 or 2 moths, let them talk it over, think it over, check market.
If they want to stay they will try to nego with you for a discount.

When you give them a discount, they will be happy to stay. win-win.

my common rooms, i started listed back in 2022 at 2pax 1k, but discounted to 2pax 900 after nego, then increase to 1k 1 yr later (cos the old aircon spoil, i replace whole unit spend 3k). last year got new tenants at 1050 (2 pax), this yr they recontract ,up to 1100 (cos i got a cleaner to come clean house monthly).
Other room, i rent to 1 pax at 800 back in 2023, last yr up to 850. this year tenant talk to me ask me not to increase, i say ok. but next year i will increase to 900.

As long as you and tenants are respectful and rents are not overly high, i dun see why must be shy about raising rents. In a way, it's a business.

 

[tellim]

wah 1 rm 4 pax, 450x4 is 1.8k leh

My condo one bedroom penthouse at 2.8k

 

[Mephist0pheLes]

show them nearby rents. give them 10% discount on what other ppl are charging

 

[Sen Sen]

The ting is hor even skyrocket the rent price still got ppl wanna rent it/ landload can still find ppl for rent..

 

[qhong61]

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

Illegal

 

[TheITGuy]

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...

You know the renting market is coming down right?

 

[xueni84]

If I'm the tenant, I may source for another unit. There are actually many units waiting to be rented as well.

While you compare your rental with others, your tenant will also compare too. And if you lose these nice tenants, come those scary type then you will know already.

If increase $50-$100, maybe they will still stay on. $200 seems too much, esp 1 shot and they have to pay the extra $200 every month.

You can try increasing $200, then update us whether they are renewing.

 

[Taloona]

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.

My sibling is asking $900 for a common room. Not near MRT. But her house is super neat and clean. Simple and sleek design. She will clean the tenant's room once a fortnight as she doesnt trust her tenant to do a good job. She thinks based on all these factors, her rental is reasonable. She is still waiting for the right tenant, after 1.5 years since her last tenant.

 

[Starabby]

haha, yesterday just message to my tenant that I will increase rent after 2 months and he can choose to leave if unhappy. The study room that I rented out to him is below market rate at$650 and he took all the advantage like on the aircon the coolest mode 24 hours and using water heater the highest degrees on such a hot day, cooking when I not around or after I slept (never clean up) and even use my brand new electrical appliance when I not around, so the main reason for the raise is to make him leave by his own.

 

[Taloona]

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.

So they have the whole house to themselves most of the time? You are lucky they don't invite Ah Seng and Ah Beng to your place in your absence.

What work do they do? If blue collar jobs, can increase a small amount first eg $100.

 

[NintendoSwitch]

My sibling is asking $900 for a common room. Not near MRT. But her house is super neat and clean. Simple and sleek design. She will clean the tenant's room once a fortnight as she doesnt trust her tenant to do a good job. She thinks based on all these factors, her rental is reasonable. She is still waiting for the right tenant, after 1.5 years since her last tenant.

Might be hard to rent out. Most people r chin chye with neat and clean. Most also won't want landlord cumming in to clean the room they rented. Lots of friction from the red flags.

 

[Joe Mahmood]

Illegal

After a few years or after the MOP or after they have fully paid their HDB those landlords that rent the whole unit can stay with their parents or rent somewhere else to stay. So you mean illegal in what manner?

 

[Tiny Shrimp]

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

From their pov, are you a good landlord though?

 

[Taloona]

Might be hard to rent out. Most people r chin chye with neat and clean. Most also won't want landlord cumming in to clean the room they rented. Lots of friction from the red flags.

Personally, I find that she is not suitable to live with tenants. She is a neat freak. She doesn't want to rent to females because females usually have long hair and she can't stand long hair strands on the floor or in the bathroom. But yet she wants to monetise the empty room. So wait until the stars align and the perfect botak tenant with the perfect rental comes along lor. Haha.

 

[meekiatah]

From their pov, are you a good landlord though?

I would like to think of myself as a good landlord. lately hands off, they can treat me as transparent or I vice versa. prompt action when there's issue.. sometimes, they do buy things for us when on home leave or go on tour.

 

[focus1974]

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...

u calculate whether that few hundred dollars worth experimenting with an untested pair of new tenants.

 

[Elfblade]

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...

Ask your siblings or relatives to fake a phone call with you pretending to be housing agents and with potential tenants wanting to rent your room at a higher price. Your current tenants will get the idea and initiate negotiations with you.

 

[Joe Mahmood]

The ting is hor even skyrocket the rent price still got ppl wanna rent it/ landload can still find ppl for rent..

Unless the foreign workers start to return to their own country because of bad economy and no jobs for them here.