Getting Advise On Renting Out Rooms At Pinnacle @ Duxton

[lovesleeping1981 0]

Dear Forumers, my fiancee and I are thinking of renting out the bedrooms once we get the keys.

1) What would be a reasonable rental price for a bedroom there? (I am intending to rent out 2 bedrooms and we stay in MBR)

2) I am not intending to put any furniture in the bedrooms yet cos I'm not sure if the future tenants would want to bring their own bed when they come over.

If it a norm for tenants to bring their own furniture over?

Thanks.

[lovesleeping1981 0]

I see. thanks for pointing out the mattress issue. Will get 2nd hand furniture. Saw some sites selling 2nd hand furniture for very good prices. Even if I not renting out, I think I will also get those 2nd hand deals.

[charemme 0]

Hi,

Im doing the same and its has been 2 years...

I get all the furniture from Ikea, even mattress. most of my tenant are not fussy people.. so they are still using the sane mattress left behind by the previous tenant.

to the tenant, even if you ask them to get their own mattress, they might have a issue with that... unless they request.

for first timer, do not buy furniture until you got a confirm tenant in case the tenant has got their own furnishing.

I remember, mattress, bedframe , table and chair + cupboard is within 200-300 bucks.

Fan from courts about $49.

Rental rate depends on your location and also availability of aircon, furnishing and number of pax per room .

but do note, if your tenant on air 24hrs daily.. can you imagine your PUB bills??

Currently my tenant are paying me non aircon rate. but once my reno is done.. I will have aircon in each room

however I will not charge extra for aircon but instead ask them to split the extra PUB with me.

If you need recommendation for rental agent, u can pm me..

I have been using the same agent for the past 2 yrs, and the same for my mom

[Batman 0]

that place so new, havent even TOP. can rent meh?

hmmmm.... dun b suprised that pple from e authorities also surfing RT

[lovesleeping1981 0]

Hi Charemme, thanks for the advise. How soon should I start hunting for tenants? Is 1 month enough for agents?

Hi Batman, yes can rent out since I only renting out rooms instead of the whole flat. Even if you are the authority, I have nothing to hide. Thanks for your concern anyway. Any advise is appreciated.

[charemme 0]

Hi Charemme, thanks for the advise. How soon should I start hunting for tenants? Is 1 month enough for agents?

As long as you are ready to rent out, you can call the agent to start bringing viewers to the unit.

Eg, say your place will be ready by next wk, u can call the agent now.. and tell him u wan to rent.. schedule all appoint to come in by next wk

so this week, he will be able to start taking note potential client.

the normal time frame from sourcing to secure one might take 2 wks to 1 month. Some may pay deposit than move in the following month.

Let your agent know your criteria for tenants so you dun waste each other time.

I will PM you some info, not convinent to post here.. might get flame

Edited November 12, 2009 by charemme

[lovesleeping1981 0]

As long as you are ready to rent out, you can call the agent to start bringing viewers to the unit.

Eg, say your place will be ready by next wk, u can call the agent now.. and tell him u wan to rent.. schedule all appoint to come in by next wk

so this week, he will be able to start taking note potential client.

the normal time frame from sourcing to secure one might take 2 wks to 1 month. Some may pay deposit than move in the following month.

Let your agent know your criteria for tenants so you dun waste each other time.

I will PM you some info, not convinent to post here.. might get flame

wow, didn't know that they only need such a short time. This is useful.

Thanks for all the advice given. I need them badly since I totally have no experience in renting and I heard many bad experiences with renting.

[charemme 0]

the waiting time depends on luck..

my fastest is 1-2wks.. I will always try to accomodate the viewing time.. like evening time on the same day my agent call.

and of cos, if you are not fussy, and dun mit a fussy viewer.. than its quite fast.

my mom unit lagi fast... 1st tenant, within 1 wk.. 2nd tenant also within a wk

my neigbour on the other hand, took like 1 mths plus or more and end up didnt rent

cuz they keep changing and reshedule appt.. awhile they wan female.. than decided want male only

keep changing their mind.. finally told my agent say dont wan already. wasted his time for 2 months

[looneygas 13]

Imo, there is no need for rental agents. You can easily source for tenants on the web. Plentiful. You can take your pick among the cherries rather than letting cherries, berries, longans and lychees come and go just because someone else says so. Save both sides the commission. Less sourness if u get a rogue agent. Minimal paperwork involved. Why go through the hassle of getting a third party to invite more uncertainty?

Edited November 12, 2009 by looneygas

[zirhk3355 1]

I also agree no need to have rental agents. You need an agreement, go download from the web; I also posted a sample agreement on this forum.

For your location, its wonderful. If I were u, I will do up as a serviced apartment. Give free utilities (cap at certain amt), free broadband, free cable tv, f/furnished + weekly housekeeping. Engage a day maid to go clean, wash/iron clothes for ur tenant.

Then come wack on the price. An 2-bdrm unit at Icon can fetch $4K+, with services can fetch above $5K.

If ur place is nicely-renovated, high-floor and you provide those free services I suggested, you can safely put asking price $1,000/mth for your common room, maybe can close at $950 or $900 at least!

So dun spoil market hor; your location so good if rent anything below $900, other Landlord sure die...yes I am also renting out my rooms at Commonwealth...

If you need any further advice can pm me...

Edited November 12, 2009 by zirhk3355

[charemme 0]

True up to individual to engage agent or not.

Cuz actually can save on the comm.

I picked an agent, because I didnt want to handle all the calling in..

I wouldnt have the time and energy to filter all the calls. So for me.. agent will filter all the calls based on my criteria and schedule viewing accordingly.

Save me alot of trouble.

I mean that is for me, not sure if its the same for others

Edited November 12, 2009 by charemme

[charemme 0]

I also agree no need to have rental agents. You need an agreement, go download from the web; I also posted a sample agreement on this forum.

For your location, its wonderful. If I were u, I will do up as a serviced apartment. Give free utilities (cap at certain amt), free broadband, free cable tv, f/furnished + weekly housekeeping. Engage a day maid to go clean, wash/iron clothes for ur tenant.

Then come wack on the price. An 2-bdrm unit at Icon can fetch $4K+, with services can fetch above $5K.

its a damx good idea!!! Can earn so much more

[looneygas 13]

True up to individual to engage agent or not.

Cuz actually can save on the comm.

I picked an agent, because I didnt want to handle all the calling in..

I wouldnt have the time and energy to filter all the calls. So for me.. agent will filter all the calls based on my criteria and schedule viewing accordingly.

Save me alot of trouble.

I mean that is for me, not sure if its the same for others

Actually, u can request only sms/voice msg in your ad. There will always be people who choose to call. Well, drop them if you want to because it could be an indication of their ability to follow simple instructions. P@D will have loads of potential tenants. It allows you the flexibility to pick and choose. TS will be surprised at what can be gotten without going through an agent. To me, that's a huge advantage

Edited November 13, 2009 by looneygas

[B2B 0]

Dear Forumers, my fiancee and I are thinking of renting out the bedrooms once we get the keys.

1) What would be a reasonable rental price for a bedroom there? (I am intending to rent out 2 bedrooms and we stay in MBR)

2) I am not intending to put any furniture in the bedrooms yet cos I'm not sure if the future tenants would want to bring their own bed when they come over.

If it a norm for tenants to bring their own furniture over?

Thanks.

When you are getting your keys? Pinnacle Duxton has 1800 units- that's alot.. I remember when Citisquare which has round 900 units TOP, everyone was rushing to rent out at the same time. So basically, you have to make your unit stand out - the basic amenities like fridge, w/machine would definitely be a draw. If you can find cheap and nice furnishings and maybe throw in a bed and mattress, which is in live-in condition, definitely easier to attract those expats who needs a place fast.. Otherwise your neighbours will be getting the tenants. remember the longer it is vacant, you are losing out on your monthly rental. if your rental is high, don't stinge on furniture and furnishings! cheers

[forgotten 1]

What are the document that you have asked from your tenants if they are not locals? Their employment pass and what else? I must make sure my tenants are not illegal immigrants hehe.

I'm not going to hire an agent to rent out my rooms cos I'm basically broke after paying for the resales unit purchase.

Thanks.

Edited November 19, 2009 by forgotten