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Buying a condo with tenancy, is there any catch?


golden_eagle
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I saw many ads of condo units with tenancy, it may be good to have some rental income during that interval but are there any catch with such arrangements? For example tenant spoil furniture, not willing to move out or what are the major catches one should look out for? 

 

 

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That's a good one. How did they smuggle a cow into Singapore? Cows don't swim. 

But wait a minute I ask condo not HDB. 

 

Edited by golden_eagle
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That's a good one. How did they smuggle a cow into Singapore? Cows don't swim.

But wait a minute I ask condo not HDB.

That was condo... part of ritual for them before moving in
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Lesson learnt: Don't invite RadX over.....

My spirit will stay for the longest time haaaa longer than any pop or pee
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Ritual to have the cow shit all over the apartment? [confused]

Some ppl roll pineapple some roll cow dung lol

That was condo... part of ritual for them before moving in

Which condo is that? So many fliers in lift
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I bought a really old condo with a tenant of about 8 years, pros were the tenant was long term and stayed with me for another 3 years (still ongoing). Cons were the condo was rented furnished so I had to replace any thing that was broken which were air con and washing machine and replaced a sink.

 

As for the things you mentioned tenant not wanting to move out etc that is just heng xuay, but I thought about this also and had a personal chat with the tenant about his situation and also the condition of the apartment what I had to look out for decided he was a good chap and bought the place at a good price too ahem  [laugh]

 

You might want to get the contacts of the agent that brokered the deal if there was one. 

 

 

 

I saw many ads of condo units with tenancy, it may be good to have some rental income during that interval but are there any catch with such arrangements? For example tenant spoil furniture, not willing to move out or what are the major catches one should look out for? 

 

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I bought a really old condo with a tenant of about 8 years, pros were the tenant was long term and stayed with me for another 3 years (still ongoing). Cons were the condo was rented furnished so I had to replace any thing that was broken which were air con and washing machine and replaced a sink.

 

As for the things you mentioned tenant not wanting to move out etc that is just heng xuay, but I thought about this also and had a personal chat with the tenant about his situation and also the condition of the apartment what I had to look out for decided he was a good chap and bought the place at a good price too ahem  [laugh]

 

You might want to get the contacts of the agent that brokered the deal if there was one. 

quite rare to find tenants that stayed on for so long

 

to ts, dont view every favourable transaction as having a catch.  sometimes it is just that people have to change plan along the way.  for example, i also sold my unit with 19 months of tenancy to a buyer because i need to change to bigger condo due to more additions to the family.  what's more, my rent is possibly the highest ever recorded for the same size unit in that development.

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I bought a really old condo with a tenant of about 8 years, pros were the tenant was long term and stayed with me for another 3 years (still ongoing). Cons were the condo was rented furnished so I had to replace any thing that was broken which were air con and washing machine and replaced a sink.

 

As for the things you mentioned tenant not wanting to move out etc that is just heng xuay, but I thought about this also and had a personal chat with the tenant about his situation and also the condition of the apartment what I had to look out for decided he was a good chap and bought the place at a good price too ahem  [laugh]

 

You might want to get the contacts of the agent that brokered the deal if there was one. 

 

That's quite an unusual contract.

 

Usually if the tenant breaks anything they have to replace it.

 

And service the aircon 4 times a year and clean the curtain twice a year etc.

 

:D  

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If get this kind of tenant then have to be very careful.

 

If cannot pay rental at the end of the month then have to

 

think very hard on how to get them to make payment.

 

:D

 

ab7963c18dc4c3d8827c9fcb3d6ad01b.jpg

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I bought a really old condo with a tenant of about 8 years, pros were the tenant was long term and stayed with me for another 3 years (still ongoing). Cons were the condo was rented furnished so I had to replace any thing that was broken which were air con and washing machine and replaced a sink.

 

As for the things you mentioned tenant not wanting to move out etc that is just heng xuay, but I thought about this also and had a personal chat with the tenant about his situation and also the condition of the apartment what I had to look out for decided he was a good chap and bought the place at a good price too ahem [laugh]

 

You might want to get the contacts of the agent that brokered the deal if there was one.

If the tenant is already there, why would you contact the agent to contact the tenant again to give him extra money....
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If get this kind of tenant then have to be very careful.

 

If cannot pay rental at the end of the month then have to

 

think very hard on how to get them to make payment.

 

:D

 

 

 

In Singapore is it true there are tenants who can't afford to pay rent? 

I thought it's a wealthy country. 

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