Renting Trends ???

r8n2 · Post by **r8n2** » Wed Nov 04, 2009 9:40 am

I would make a in depth insepction of the place two weeks before handover and make sure that the handover takes place at the apartment the day the tenant leaves to verify nothing changed during the last two weeks.
The other solution is to ask the tenant to provide a bank account at his new destination and make sure you transfer the funds over two weeks after he/she has left. In any case you should know your tenant good enough to know if there is sufficient trust.
just my two cents....

Post by **Dennis Ng** » Wed Nov 04, 2009 9:46 am

r8n2 wrote:I would make a in depth insepction of the place two weeks before handover and make sure that the handover takes place at the apartment the day the tenant leaves to verify nothing changed during the last two weeks.
The other solution is to ask the tenant to provide a bank account at his new destination and make sure you transfer the funds over two weeks after he/she has left. In any case you should know your tenant good enough to know if there is sufficient trust.
just my two cents....

wow, that is indeed a Great suggestion. Thanks a million.

dragon · Post by **dragon** » Wed Nov 04, 2009 9:32 pm

Dennis Ng wrote:
r8n2 wrote:I would make a in depth insepction of the place two weeks before handover and make sure that the handover takes place at the apartment the day the tenant leaves to verify nothing changed during the last two weeks.
The other solution is to ask the tenant to provide a bank account at his new destination and make sure you transfer the funds over two weeks after he/she has left. In any case you should know your tenant good enough to know if there is sufficient trust.
just my two cents....
wow, that is indeed a Great suggestion. Thanks a million.

Thanks for ur valuable inputs, Dennis & r8n2. Really appreciate it.

Nana · Post by **Nana** » Wed Nov 11, 2009 10:51 am

Hi Dennis,
what is the definition of Partially Furnished and Fully Furnished?

My thot is that a Fully Furnished unit (brand new) will command a higher rental income as compared to Unfurnished unit.

last night went through the notes and you mentioned it is better to rent the unit "unfurnish". Why is this so?

Kindly enlighten me.

Contrarian · Post by **Contrarian** » Wed Nov 11, 2009 3:52 pm

r8n2 wrote:I would make a in depth insepction of the place two weeks before handover and make sure that the handover takes place at the apartment the day the tenant leaves to verify nothing changed during the last two weeks.
The other solution is to ask the tenant to provide a bank account at his new destination and make sure you transfer the funds over two weeks after he/she has left. In any case you should know your tenant good enough to know if there is sufficient trust.
just my two cents....

Can consider QBE tenant insurance... I dont know details though... coz I sold my condo

r8n2 · Post by **r8n2** » Wed Nov 11, 2009 5:45 pm

I think there is no benefit for yourself to rent out fully furnished, especially if you are looking for long term cash income.
The value of the place does not essentially change if you put in all the furniture. Most people do not have the same taste as you and they might not like what you provide. So it reduces the amount of potential tenants.
Remeber people who will rent fully furnished might stay for a short period of time only and therefor consider to move into other peoples furniture. So if you are looking for long term rent, provide a complete kitchen and let them take care of the rest. Remeber also that they will never take care of your furniture as much as they will if they paid for it themselves.
Plus the initial and maintenance cost is on your side.
just my 2 cents.....

wootzening · Post by **wootzening** » Thu Nov 12, 2009 1:56 pm

r8n2 wrote:I think there is no benefit for yourself to rent out fully furnished, especially if you are looking for long term cash income.
The value of the place does not essentially change if you put in all the furniture. Most people do not have the same taste as you and they might not like what you provide. So it reduces the amount of potential tenants.
Remeber people who will rent fully furnished might stay for a short period of time only and therefor consider to move into other peoples furniture. So if you are looking for long term rent, provide a complete kitchen and let them take care of the rest. Remeber also that they will never take care of your furniture as much as they will if they paid for it themselves.
Plus the initial and maintenance cost is on your side.
just my 2 cents.....

I tend to think that the most popular rental condition choice would be Partially furnished.

IMHO, to edge up among others, a home with good beautiful paint works, throw in simple designs such as "False Ceilings" with down-light, Curtains, interior designed panel wall, rather then a plain big white wall with Ikan console, would make the home more appealing.

Why ? It is just my opnion, please don't flame me.

My believe is, expats from more "developed" countries with higher living standard, if the cost is 5-10% more but is more "homely" ... should be accepatable. Imagine you hand over the house in "bare-look", No-makeup.....wouldn't that less appealling compare to a slightly touch up one.

On the other hand, if you are targetting tenants are from developing countries, working on limited rental budget... then forget about any touchup. Bare, unfurnish would be the best.

One key point to note on touching up the house. Unless you are interior design trained, don't try to do it with your "best-know-how". Use the professional.... In My Own humble opnion(IMHO)....interior designer

Tze Ning

Post by **Dennis Ng** » Thu Nov 12, 2009 4:40 pm

I agree.

Actually, the key is to make sure that whatever you "invest" in (be it furnishing, mino renovation etc) do you get back more in returns (in the form of higher rental).

Look at the return on investment of the money you put into the property, be it furnishing, furniture or renovation.

Most people focus on Cost. How much would this cost me?

While as an investor, I train myself to ask what is the Benefits vs Costs? I only go ahead if benefits outweigh costs.

wootzening · Post by **wootzening** » Thu Nov 12, 2009 5:11 pm

One more thought I have.
If the unit for rent is in prime areas, ie D9,D10,D11, then beautify the house before renting out would make sense. Because the people who are living in this area could affort with corporate contract.

However, if there is nothing special about the location... i mean it is more towards local residential districts(AMK, Woodland, Jurong etc), then I wouldn't bother to do anything. It will a premium cost for them...

tn woo