My life as a tenant I arrived in Singapore alone in 1998. I started renting on my own but ended up moving three times in just 13 months. First, it was a common room in an HDB flat for three months. Next, I stayed in the whole 4-room HDB flat (with one room locked up) for ten months. Then I moved to a private apartment sharing with two flatmates. Being new to Singapore, I … [Read more...]
To let: by agent or by yourself? (part II)
I would definitely engage the service of my property agent every time I rent out my properties, for the following reasons: 1) Why waste the time to advertise, to arrange viewings, and to take the risk of showing strangers around, when a professional can do it for you? 2) Your tenant (especially in a company lease) is mostly likely represented by his/her own agent. You … [Read more...]
To let: by agent or by yourself? (part I)
A landlord posted a message in a property forum, asking whether it’s better to let the flat through an agent, a lawyer or by himself. This post is most likely from a 1st time owner. My two-cents: I don’t think it’s necessary to engage a lawyer, unless yours is a special lease that needs much customization in the contract. Lawyers tend to give 'safe advice' in order to … [Read more...]
Story of my third property (part II)
The one-bedroom unit near Clarke Quay was a good bargain. But it took months to close the deal. Every time I had a request, offer or counter-offer, it took ages for the property agent to get back to me. His excuses included (but not limited to) owner in different time zone, cannot get hold of owner, owner not replying e-mail, too expensive to use IDD, etc. For … [Read more...]
Story of my third property (part I)
Hi, I'm back with sharing my property buying stories. Right after the completion of my 2nd purchase, I resumed my flat viewing routine. Again my criteria of purchase were: 1) Good location and layout; 2) Minimum 5% net rental return; and 3) At least 15% below last transacted price. I remember it was Christmas in 2003. The property market was very quiet. Bad … [Read more...]