Does it make sense to commit a 99-years lease private condo?

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MrsKiasu
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Re: Does it make sense to commit a 99-years lease private co

Post by MrsKiasu » Thu Jun 04, 2015 1:43 pm

Coolkidsrock2 wrote:
TheAnswer wrote:
Steadyberry wrote:If really renting out yr hdb, pls do not listen to yr agent. I made a mistake of listening to my agent. He told me to rent out to women only at a lower rate because the women will help me to take care of my house. All rubbish.

I rented out my 5-rm hdb to a few myanmar ladies. 1 accountant, 2 students studying medicine in nus & another woman. After 1 year later, my house was in a state that I need to renovate the whole house again. Maybe Malaysian ladies or small family is better but definitely not Myanmar.
Thanks for sharing.
For me, definitely no no to students.
I ever rented my HDB to a few Masters students (male from India) but luckily they are the guai guai type. I rented to them coz my then agent recommended as he knew some of the guys.

MrsKiasu
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Re: Does it make sense to commit a 99-years lease private co

Post by MrsKiasu » Thu Jun 04, 2015 1:49 pm

sleepy wrote:
Steadyberry wrote:If really renting out yr hdb, pls do not listen to yr agent. I made a mistake of listening to my agent. He told me to rent out to women only at a lower rate because the women will help me to take care of my house. All rubbish.

I rented out my 5-rm hdb to a few myanmar ladies. 1 accountant, 2 students studying medicine in nus & another woman. After 1 year later, my house was in a state that I need to renovate the whole house again. Maybe Malaysian ladies or small family is better but definitely not Myanmar.

Thanks for sharing!
Not easy to screen tenants huh :nailbite:

Have you tried to rent out without agent? Feasible?
Can use lease agreement on HDB website
I used my old agreement as reference :wink: last few batches no agent used as my tenants continue recommending other friends to take over new lease :lol:

MrsKiasu
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Re: Does it make sense to commit a 99-years lease private co

Post by MrsKiasu » Thu Jun 04, 2015 2:03 pm

sleepy wrote:
Thanks for sharing!
Not easy to screen tenants huh :nailbite:

Have you tried to rent out without agent? Feasible?
Can use lease agreement on HDB website
I would think it's more on luck.. Some will write off certain nationalities...but I have Msian, Indian and China Chinese before...so far so good. Not all fm China no good. My HDB rented to those 'not so rich Chinese' but they are nice and decent people..they even tried to source for eg 2nd hand Aircon and washing machines then only tell me if I could bear the costs...I told them the new ones when on offer not so expensive and the 2nd hand ones usually are problematic stuffs..and they told me that there is x days warranty and after few days sure enough, too noisy..I asked them to return it and go look for offered items and they really go few shops to source..I was so touched.. Also has rich Chinese girls studying in private college as tenants and they never cook and has weekly part timer up to my condo to do cleaning..

autumnbronze
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Re: Does it make sense to commit a 99-years lease private co

Post by autumnbronze » Thu Jun 04, 2015 6:33 pm

Actually it is a good idea to screen tenants. Just like how one would screen your potential hepers so as to gauge their personalities and what nots.

For my mom's case, she always had Malaysian Chinese couples. She had no issues at all. And because they know she lives alone, the male tenant helps with the changing of the light bulbs etc ...

The one time the room was a pigsty was when it was rented out to 2 sisters. They would also forget to off the water heater, lights etc ...

The tenants occupying my flat right now is an Indian couple with one son. They are an absolute gem! We have had no issues with them.

hquek
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Re: Does it make sense to commit a 99-years lease private co

Post by hquek » Thu Jun 04, 2015 6:48 pm

Just be aware and careful. I knew someone who thought she was renting to ONE caucasian man working in a foreign bank. When she went to the unit, Caucasian was not seen but there was a united nations variety of many people who were staying there. Her estate agent also blur.

On Indian couple, a friend went through one year of enduring her tenants who insisted on cooking Indian cuisine and happily not clean up the house (oily stains, kid drawings on wall). Best is that tenant wifey is sahm but she doesn't seem to clean the house.


FantasyLandDreams
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Re: Does it make sense to commit a 99-years lease private co

Post by FantasyLandDreams » Thu Jun 04, 2015 10:45 pm

Hmmnnn..........so far seems that rent to Malaysians least problems..........

GiftedGem
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Re: Does it make sense to commit a 99-years lease private co

Post by GiftedGem » Sat Jun 06, 2015 9:17 pm

We rented out to a Korean family who took good care of my unit for 2 yrs. Left couple of items like CD player, electric fans, study table, microwave and even their 2 doors fridge which was used for kimchi ( though I have provided them ours).

Had also had Jap tenants which they were considerate in engaging cleaners to return our unit in good order.

Now, crossing finger as we have rented to 4 China working adults for 1.5yrs who are formerly studying in NTU on scholarship and now working in Technology and Banking sector. Left another 6 mths before lease expires....

TheAnswer
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Re: Does it make sense to commit a 99-years lease private co

Post by TheAnswer » Sun Jun 07, 2015 12:16 am

GiftedGem wrote:We rented out to a Korean family who took good care of my unit for 2 yrs. Left couple of items like CD player, electric fans, study table, microwave and even their 2 doors fridge which was used for kimchi ( though I have provided them ours).

Had also had Jap tenants which they were considerate in engaging cleaners to return our unit in good order.

Now, crossing finger as we have rented to 4 China working adults for 1.5yrs who are formerly studying in NTU on scholarship and now working in Technology and Banking sector. Left another 6 mths before lease expires....
Noted on the Koreans and Japanese. Anyone rented to Russians, Canadians, Australians and Americans before? How r they like?

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Re: Does it make sense to commit a 99-years lease private co

Post by Funz » Sun Jun 07, 2015 9:55 am

I have rented to locals, Japs, Koreans, Indian and British.

Only one that gave me a lot of problems was the Indian. Got calls from my neighbours from that unit complaining about the ruckus they were making. They were always late on rent and forever trying to re-negotiate.

Locals, no issues. Japs and Koreans were the best. Lease renewed with no issues. When they returned the unit to me, all was cleaned and they even did some touch ups. Some even gave a goodie basket when we did the final handover.

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Re: Does it make sense to commit a 99-years lease private co

Post by i3mum » Mon Aug 29, 2016 3:43 pm

Hi all,

I needed some advice. I would like to check if it is worth buying a condo 15-20 years old? Will the condo price depreciate over time? And do condo get enbloc too?

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