Property Market Sentiments

One extra expense that my family experienced: Tenant who did not pay rent and refused to move for months, requiring multiple lawyer letters.

(19-12-2015, 10:45 PM)gzbkel Wrote: One extra expense that my family experienced: Tenant who did not pay rent and refused to move for months, requiring multiple lawyer letters.

So do you manage to collect the balance rents or written off as bad experience ? Will the tenant be able to continue the same "trick" on others ...

(19-12-2015, 11:13 PM)corydorus Wrote:

(19-12-2015, 10:45 PM)gzbkel Wrote: One extra expense that my family experienced: Tenant who did not pay rent and refused to move for months, requiring multiple lawyer letters.

So do you manage to collect the balance rents or written off as bad experience ? Will the tenant be able to continue the same "trick" on others ...

Written off as bad experience. We kept the deposit, but not enough to cover arrears.
He used many delaying tactics. Like promising to pay next month, or son has exam period, etc.
Not sure if he is still renting now.

I think there should be some kind of central database where we can check historical records of how timely a tenant pay his rent in the past. Or allow landlords to check the credit score of prospective tenants.

(19-12-2015, 08:39 PM)CityFarmer Wrote:

(19-12-2015, 06:08 PM)opmi Wrote: ^^^ income and property taxes how？no need to pay？

I am taking 15-20% of rental, as expenses, which include
- property tax and income tax
- maintenance cost
- depreciation of furniture/facilities if provided
- insurance
- vacancy cost / tenant damages
- agent fee
- misc

IMO, we should factor in all expenses, before the "net profit" to allow us to compare apple-to-apple with other investments.

How about others? How much % is your expenses?

Expenses for owning a property for rental is approximately 15%-20% of gross annual rent.
( Agent fees, conservancy fees, property tax,air-con maintainence, repainting, repairs, curtains, furniture, lights, fridge, plumbing )

If there are lots of landscaping, fountains, lifts to every unit from the carpark, swimming pools, tennis courts, sauna, mini golf areas, and side gates, the conservancy bill will be higher.

There is a tendency for owners to forget that these facilities are not free. Management council members should have prudent leanings... otherwise fancy ideas that can be costly will be passed on to owners. Its good to keep track of who are the council members... some have grand empire seeking visions with relatives and associates owning units and can out vote anyone.


There is no guarantee that a tenant may abscorn or delay paying rent. That risk can only be managed.
Appointing a property agent with a good track record and higher ethical attributes can help minimise such events.

Ultimately the owner bears the risk.

Having deep pockets helps. There has been occasions when I had units vacant for almost 9 months.. for lack of quality tenants. Some owners will rent to all & sundry... turning the entire estate into low income housing. It does not make sense that an expensive million dollar unit is treated with such neglect. Would the same thing happen to a brand new Mazda 6 or Nissan Quashai?

(19-12-2015, 11:37 PM)gzbkel Wrote:

(19-12-2015, 11:13 PM)corydorus Wrote:

(19-12-2015, 10:45 PM)gzbkel Wrote: One extra expense that my family experienced: Tenant who did not pay rent and refused to move for months, requiring multiple lawyer letters.

So do you manage to collect the balance rents or written off as bad experience ? Will the tenant be able to continue the same "trick" on others ...

Written off as bad experience. We kept the deposit, but not enough to cover arrears.
He used many delaying tactics. Like promising to pay next month, or son has exam period, etc.
Not sure if he is still renting now.

I think there should be some kind of central database where we can check historical records of how timely a tenant pay his rent in the past. Or allow landlords to check the credit score of prospective tenants.

even multiple lawyers letter doesn't work? How about shutting down the water and electricity access? And change the lock. I think u need to be fitmnaganistvsuch nasty tenant. Btw u should write in to suggest a common database to identify nasty tenant..maybe blacklist database or something.

Next time send letter to HR of the tenant's company... it may work better than lawyer letters to the tenant.

The utilities was paid by the tenant. We thought about changing lock, but didn't go ahead because not sure about the legality.
The tenant was an individual, did not apply through his company.
We had other tenants who paid late, but none as problematic as this one.

We have since sold the property. At least no need to worry anymore about trouble with future problematic tenants.

(20-12-2015, 01:19 PM)gzbkel Wrote: The utilities was paid by the tenant. We thought about changing lock, but didn't go ahead because not sure about the legality.
The tenant was an individual, did not apply through his company.
We had other tenants who paid late, but none as problematic as this one.

We have since sold the property. At least no need to worry anymore about trouble with future problematic tenants.

Is the tenant a Sporean? If not, what is the nationality?

(20-12-2015, 08:24 PM)kichialo Wrote:

(20-12-2015, 01:19 PM)gzbkel Wrote: The utilities was paid by the tenant. We thought about changing lock, but didn't go ahead because not sure about the legality.
The tenant was an individual, did not apply through his company.
We had other tenants who paid late, but none as problematic as this one.

We have since sold the property. At least no need to worry anymore about trouble with future problematic tenants.

Is the tenant a Sporean? If not, what is the nationality?

can pm his name so I can take note thank you.
yup I think a lawyer letter copy one to his hr sounds like a good idea.

Tenant is Singaporean with a European wife.
Sorry, not very comfortable about sharing past tenant names (even a bad one)..