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Buying a condo with tenancy, is there any catch?


golden_eagle
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Not Condo lah Aneh! Its a HDB.... where got condo put the block  & number so big big 1??? 

 

Anyway we pay money for animal fertilizer so why not cow dung; Its a natural fertilizer and many natural good properties too

  

 

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

 

Edited by BanCoe
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Why not?? ; got many tenants (usually locals) whom got financial problems and still think they are living high life in the clouds; Their  Condo mortage and kenna repo and still live in "high life" ; Gotta be careful of this type usually; I kenna one before...... came as interior decorator of a very big firm (now defunct) I lost about 1 1/2 months rental plus he left the place in a mess; Even 1 month deposit cannot cover as the arrears was 2 1/2 months

 

Foreigners will usually excercise diplomatic clause if they lost their jobs ..... this is also another issue and can result in outstanding payments    

   

 

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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Not Condo lah Aneh! Its a HDB.... where got condo put the block & number so big big 1???

 

Anyway we pay money for animal fertilizer so why not cow dung; Its a natural fertilizer and many natural good properties too

Now season of lent dun make me dream of u

 

http://www.tnp.sg/news/others/cow-and-calf-walk-through-14th-storey-flat-singapore-condo

 

 

Knn think I prembaree tree you can kon ah

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If an agent placed the tenant there (assume 2 yr contract) typically they would act as liaison between tenant and landlord for the first 2 years resolving disputes and what not. From the way I see it if the property is sold with tenancy and the agent brokered the deal and got comms he/she is still obliged to resolve any issues arising between the new landlord and tenant.

 

My tenant had a direct arrangement with the previous landlord so when I took over I was direct liaison (no agent of course).

 

 

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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Wear and tear mate haha, 1.5 year of us taking over had

 

- Washing Machine breakdown - Replace

- Air Con Breakdown - Replace

- Water heater leak - Replace

- Tabletop broke (see below) - Replace

 

post-78681-0-25807600-1519476839_thumb.jpg

 

The previous landlord must have been quite stingy, anyway we replace all to new items and its been good since. Considering the sofas, bed's, curtain etc etc all more than 10 yrs old and the tenant is fine its actually pretty good. Good fortune for me to buy with this chap renting.

 

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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Wear and tear mate haha, 1.5 year of us taking over had

 

- Washing Machine breakdown - Replace

- Air Con Breakdown - Replace

- Water heater leak - Replace

- Tabletop broke (see below) - Replace

 

IMG_0571.JPG

 

The previous landlord must have been quite stingy, anyway we replace all to new items and its been good since. Considering the sofas, bed's, curtain etc etc all more than 10 yrs old and the tenant is fine its actually pretty good. Good fortune for me to buy with this chap renting.

Kitchen basin support table quite badly broken until the other side ‘sengkek’ must have put something really heavy ; is this solid wood?? As usually mostly people use synthetic top made of plastic or granite as this wet area is a real headache if chipboard lagi worse -if the water goes in thru the silicon (or if the installer use cheap $2-$3/- silicon Edited by BanCoe
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The previous landlord must have been quite stingy, anyway we replace all to new items and its been good since. Considering the sofas, bed's, curtain etc etc all more than 10 yrs old and the tenant is fine its actually pretty good. Good fortune for me to buy with this chap renting.

 

Of course he is nice because you decide to replace everything nicely for him.  Most landlords will ask for minor repair clause to kick in first before they replace.

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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

My frend lagi steam. Rented his apartment in Geylang to a few tiong kok chio bu.

 

Knn can collect rental via bank transfer also dun want.

Every month go and collect himself.

 

I ask him why. He says chio bu always open the door in pyjamas.

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Aiyohyoh!! me talking about this image lah

Ts talking abt condo la

 

You talk chicken I tok duk

 

What the duk haaa

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Why not?? ; got many tenants (usually locals) whom got financial problems and still think they are living high life in the clouds; Their  Condo mortage and kenna repo and still live in "high life" ; Gotta be careful of this type usually; I kenna one before...... came as interior decorator of a very big firm (now defunct) I lost about 1 1/2 months rental plus he left the place in a mess; Even 1 month deposit cannot cover as the arrears was 2 1/2 months

 

Foreigners will usually excercise diplomatic clause if they lost their jobs ..... this is also another issue and can result in outstanding payments    

 

Judging from the description you must be living in the cloud. 

Wear and tear mate haha, 1.5 year of us taking over had

 

- Washing Machine breakdown - Replace

- Air Con Breakdown - Replace

- Water heater leak - Replace

- Tabletop broke (see below) - Replace

 

attachicon.gifIMG_0571.JPG

 

The previous landlord must have been quite stingy, anyway we replace all to new items and its been good since. Considering the sofas, bed's, curtain etc etc all more than 10 yrs old and the tenant is fine its actually pretty good. Good fortune for me to buy with this chap renting.

 

What kind of profession can we expect to do such harm to furnitures and live in a condo? 

I thought those are usually gentlemanly office workers. 

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To be honest I didn't recall what the material was but to be fair that countertop was 15 years old already and installed by the developer (probably on the cheap). Lol I recall when I viewed the unit the agent warned me to be prepared :D

 

 

Kitchen basin support table quite badly broken until the other side ‘sengkek’ must have put something really heavy ; is this solid wood?? As usually mostly people use synthetic top made of plastic or granite as this wet area is a real headache if chipboard lagi worse -if the water goes in thru the silicon (or if the installer use cheap $2-$3/- silicon

 


Most furnishing provided by landlord are cheap (i.e ikea chipboard style) and the furnishing already 8 + years so everything is abit touch and go. Not to mentioned got kids etc anything can happen, usually if can rent out unfurnished is best but since I got this with tenant and furnished just deal the hand I got. 

 

It was a good price anyway, even if I had to replace all the furnishings I would still close the deal  [laugh]  

 

 

Judging from the description you must be living in the cloud. 


 

What kind of profession can we expect to do such harm to furnitures and live in a condo? 

I thought those are usually gentlemanly office workers. 

 

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Neutral Newbie

There will be still situation where the are tenants having problems with lease or breaking lease prematurely. Nonetheless it is important to have terms in tenancy to protect landlord's interest like forfeiture of deposit and penalty.

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If I rent my condo to my wife for$1 so that she can manage all the rental together with the properties under her own name, and say she gets to keep all the rental proceeds, what is the income that I shd declare for income tax purposes?

Edited by Chongster
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If I rent my condo to my wife for$1 so that she can manage all the rental together with the properties under her own name, and say she gets to keep all the rental proceeds, what is the income that I shd declare for income tax purposes?

1. You can’t as the property is not under her name. If have her name then the pay out is according to the % owned.

 

2. Risks are too high.

Edited by Showster
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1. You canât as the property is not under her name. If have her name then the pay out is according to the % owned.

 

2. Risks are too high.

Thanks. I can’t as in there is a law against subletting in sg? If I enter into a lease agreement that expressly permits subletting, can i not rent it out as a master tenant? Edited by Chongster
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Thanks. I canât as in there is a law against subletting in sg? If I enter into a lease agreement that expressly permits subletting, can i not rent it out as a master tenant?

Subletting has to be declared.

 

For this, it’s obvious that your wife does not stay there and can’t sublet. If your wife stays there, the subletting amount also has to make sense.

 

This arrangement will only invite yourself to IRAS tea.

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Subletting has to be declared.

 

For this, it’s obvious that your wife does not stay there and can’t sublet. If your wife stays there, the subletting amount also has to make sense.

 

This arrangement will only invite yourself to IRAS tea.

 

If say 

Condo A is your home, under wife's name (who is a housewife)

Condo B is under your name, but being rented out.

Is it against the law to declare rental income from B under your wife's income tax? 

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