As Singapore residential property prices look set to rebound following several years of decline, since its peak in 2013, many may expect rental prices to follow suit. While the rationale for this may be simple – higher property price must equate to higher rental prices (to offer a similar return on investment), the reality may be significantly different.
You’ve spent the better part of your life paying for this property, which is as much an asset as a home to you. So of course, you’re determined to make as money as possible by renting it out.
But whether you’ll be renting out one room while continuing to live in the unit or leasing out the unit in its entirety, the last thing you want is to survey the place when your tenants have moved out, only to discover that the repairs you’ll need to pay for will take a huge chunk out of the rent you’ve received.
Whether you wish to maintain a friendly relationship with your tenant or let your agent handle everything, here are some things to beware of when renting out your property.
Spacious and affordable HDB 5rm flat with 4 bedrooms. Renovated with nice kitchen and service balcony.
The 770 Pasir Ris Street 71. Welcome to your new home.
SINGAPORE – Private residential and HDB reversed course last month, according to SRX Property flash estimates released on Wednesday (July 12).
Rents of condominiums and apartments rose 0.5 per cent month-on-month in June, swinging from a revised 0.6 per cent decline in May, though the number of units leased dropped
After a sustained slide last year, private rents have fluctuated monthly this year. But after June’s increase they are now down just 0.3 per cent to date this year. They are still 19.1 per cent off their peaks in January 2013.
Owning a home is one of the most important items on Singaporeans’ checklist of life goals. And based on how horribly expensive it is to rent here, it’s easy to see why.
Renting a home or even just a room, even if it’s the only way for a 40-year-old virgin to get out from under his parent’s thumb, is usually frowned upon as a waste of money that could otherwise go towards saving for a downpayment.