Singapore Rental Properties

When writing about Singapore rental properties, I have made the observation that the attention is always on the tenant. The tenant is advised on how to find the best rental property, how to locate the best realtors to assist him, what to look out for and a list of many do’s and don’ts. However, the business of renting property is not one sided. There are things an owner or landlord of any Singapore rental properties needs to do so that the journey of renting out the houses will be smooth.

Rule number one: Establish good relationship with the tenant. You don’t want o experience rivalry between you and the tenant because it will not be easy. You may think that such a rivalry will not affect you in any way because you are the “boss” in this case, but you are wrong. Learn to live with the unchangeable differences you may have with the tenant, and learn to compromise where necessary. Relate to the tenant as a person.

Number two, as the owner of any Singapore rental property; ensure that you don’t get into trouble with the authorities when they find out that you have rented out space to a terrorist or someone living there illegally. Ignorance is no defense, and the law requires that you check the documents of any person who is not a Singaporean citizen to ensure that they have the permit to live in Singapore. Do not settle for the documents he shows you; go further and confirm with the management of where he works.

Rule number three: Have enough contacts of contractors, plumbers, electricians, et cetera. You will need them when an urgent repair is necessary. Otherwise you will have tenants vacating when there is a leakage in their bathroom that has not been attended to over the past five days. It is not fair to expect timely payment of rent from the tenant yet to delay making any form of repairs done. If your daily schedule is too tight, it is always good to employ an agent who will take care of the things that ought to be done. An agent is also good because he will act as the intermediate between the tenant and you. This is because the tenant may need to see you but the time the tenant is available may not coincide with the time you are available.

Number four, flexibility, flexibility, flexibility. If at all you are the rightful owner of the Singapore rental property, I don’t see why you should let tenants walk away from a potential rental agreement simply because you are rigid to what you say. Have some form of flexibility. 

For instance, the tenant may opt for a higher monthly rent rather than have the cost of repairs on their shoulder. The extra amount of rent is what you use in the case where a repair is needed. This may work to the advantage of the Singapore rental property owner, because repairs usually come once in a blue moon.

Mindy Yong 杨雯诗

CEA Registration Number : R021232Z

Tel: (+65) 91002985
Fax: (+65) 64021826

mindy@mindyyong.com

KF Property Network Pte Ltd
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