Rental Of Private Property - Fully Or Partial Furnished

[hentamkings 0]

Hi Everyone,

1. If you currently have a private residential property rented out, did you rent out fully or partial furnished?

2. In Singapore rental market, does the owner usually rent out their private residential property fully or partial furnished?

everyone is welcome to share on this and the horror stories of renting...

Thank you.

[pantieileen 2]

Hi Everyone,

1. If you currently have a private residential property rented out, did you rent out fully or partial furnished?

2. In Singapore rental market, does the owner usually rent out their private residential property fully or partial furnished?

everyone is welcome to share on this and the horror stories of renting...

Thank you.

U ask the tenant when he/she wants to move in and if he/she prefers to have the apartment furnished and if furnished, what does he/she wants the landlord to furnish and then u negotiate the rental rates and then u go buy furniture. It's all up to u lah there is one strict criteria

[Plastic3 0]

This is really up to the landlord,

for condos usually they're at least partial-furnish.

Landed can be unfurnished.

Best,

Mark

Hi Everyone,

1. If you currently have a private residential property rented out, did you rent out fully or partial furnished?

2. In Singapore rental market, does the owner usually rent out their private residential property fully or partial furnished?

everyone is welcome to share on this and the horror stories of renting...

Thank you.

[hentamkings 0]

Thank you Eileen and Mark for your reply.

Was just wondering which is more feasible and practical. personally was thinking partial furnish was good considering you have less headaches with the applicances (faulty and stuff).

[pantieileen 2]

Thank you Eileen and Mark for your reply.

Was just wondering which is more feasible and practical. personally was thinking partial furnish was good considering you have less headaches with the applicances (faulty and stuff).

Then do basic furnish

1)TV in LV and MBR obviously with TV console (go for basic LCD good enough and min 32")

2)Washing Machine (top load good enough)

3)3 seater sofa and coffee table (leather better so end of the tenancy will not break, better if dark brown or black won't see dirt after tenancy still can reuse)

4)4 seater dining table and chairs (ikea good enough)

5) Queen size bed and mattress in MBR (mattress must be new with plastic cover)

6) Fridge (300+ L good enough)

7) Microwave optional

All assuming wardrobes and kitchen are already custom made

If you want to make it better, throw in some carpets. Actually very easy lah, buy used furniture from expats to furnish your rental apartment anyway tenants won't know if brand new or not esp for TV, Sofa, dining table, coffee table. Sometimes u can get like $50 or $100 entire 5piece dining set, sofa $200-500, TV $200-300

[hentamkings 0]

Thank you Eileen for your valuable insights.

I was running a check on a few property websites and was unsure if the rental sum include full or partial furnishings. I think its like what you said. It all depends on the owner and tenant at the end of the day to decide how the rental is to be and at what amount. I have seen people renting out the whole unit with everything (move in condition). However, I do not know the difference in the monthly rental when it is fully or partially furnished.

Also, I was thinking that some owners do not want to be caught in a situation when they have the unit fully furnished and yet the prospective tenant does not want anything. This would be economically wasteful as the owner would have to remove these furnishings and store them in temporary warehouse (I am assuming the owner already has his own fully furnished residence).

Do you face issues with tenants before?

[ZondaR 0]

Thank you Eileen for your valuable insights.

I was running a check on a few property websites and was unsure if the rental sum include full or partial furnishings. I think its like what you said. It all depends on the owner and tenant at the end of the day to decide how the rental is to be and at what amount. I have seen people renting out the whole unit with everything (move in condition). However, I do not know the difference in the monthly rental when it is fully or partially furnished.

Also, I was thinking that some owners do not want to be caught in a situation when they have the unit fully furnished and yet the prospective tenant does not want anything. This would be economically wasteful as the owner would have to remove these furnishings and store them in temporary warehouse (I am assuming the owner already has his own fully furnished residence).

Do you face issues with tenants before?

I think the rule of thumb is to spend about 2 months rental on the furnishings. Honestly, if you spend abit more, buy better stuff, you impress the tenant. Firstly, you can get better rent, and secondly, faster to rent out. if you can't get tenant for 1 month, thats, 50% of your budget already. Buying good furniture and appliance also means it can last longer, so you can even use for 2-3 tenancies...

[Warrior88 0]

Furnish or not, should not be debate here.

Just rent as it is, different tenant different lifestyle.

Mine was fully furnish, tenant dun want, I sold and threw away them.

After 6 months, tenant go broke.

Ever since, I rent them as it is.

If they want more, top up some rent, I will arrange.

Landlord still liable for appliances repair within certain period and amount.

Main thing, must make sure your things are usable.

Doors.. sliding, shower tap leaks, bulb, cooker hood.

Keep them well maintain and neat, especially after every rental renewal

Nett income is only 10 mths, considering, minus 2 months from

Agency fees, conservancy fees, income tax, property tax.

You really no have any budget to spend on furnishing except repairs.

Rental yield for private is only 3% nia ...

Trust me... tenant will appreciate more is your house is well maintain than furnish one.

[hentamkings 0]

Thank you ZondaR and Warrior.

Warrior,

I guess you should have come across a few tenants. Do they usually want it unfurnished(everything is in there except furniture and applicances)? Thank you for highlighting on the income is actually 10 months, which is very true. Not to mention the possible problems that you may face with the tenant.

Is 3% yield good enough for you or what yield is considered satisfactorily? on this yield thing, there are recent news and discussions that the yields are pretty low nowadays because the purchase price was high. Any thoughts?

[Christian 0]

Hi Hentamkings,

Actually you can rent out partial if that is what you want. Because in the "Condo" market there are people who wants partial so that they can bring in their own furniture. However if is HDB, usualy the target market have limited funds, so they do not have their own furniture and they want it ready.

So for Condo / landed, partial is absolutely fine!

Anything else?

Cheers

[snailtrails 0]

Hi Hentamkings,

Actually you can rent out partial if that is what you want. Because in the "Condo" market there are people who wants partial so that they can bring in their own furniture. However if is HDB, usualy the target market have limited funds, so they do not have their own furniture and they want it ready.

So for Condo / landed, partial is absolutely fine!

Anything else?

Cheers

Depends on your luck.

I've had horror landlords in the past, gave me decades old furniture, refused to shift them out and when my lease expired, claimed that I had damaged the furniture and demanded full reparations.

Of course with a couch bought in the mid-80s or 70s, no one repairs those, so they insisted on new ones!

OTH, I've had one ok-ish landlord, gave me older furnishings (fridge, washing machine, TV, TV cabinet, bedroom cabinets) but when I reported they were broken due to age, he replaced them with brand new ones.

[hentamkings 0]

Hi Hentamkings,

Actually you can rent out partial if that is what you want. Because in the "Condo" market there are people who wants partial so that they can bring in their own furniture. However if is HDB, usualy the target market have limited funds, so they do not have their own furniture and they want it ready.

So for Condo / landed, partial is absolutely fine!

Anything else?

Cheers

Hi Christian,

Thank you for your answers. Could you define your idea of partial? I read up a few websites and partial = with furniture, but without appliances. and full = everything is there for any person to move in and stay.

[pearljam 1]

Good Morning,

Sorry to hijack your post. I have just bought an apt with tenancy till Mar'12. There is a clause written in the TA which I would like to seek opinions on. It says " Landlord shall on written request of tenant made not less than 3 mths before the date of expiry of this tenancy, at the expense of the tenant, grant to the tenant a further term of 1 yr from the date of expiry of this tenancy at the then prevailing market rent.... in the event of failure to reach agreement as to the rent, the rent shall be determined by a valuer to be appointed by the landlord and the tenant.

I have some queries regarding this clause:

1) If I had decided not to rent out the apt anymore, I would need to give 3 mths notice to the tenant?

2) Or if we had decided to rent out for 1 more year, we are able to increase the rent?

Thanks

[hentamkings 0]

Good Morning,

Sorry to hijack your post. I have just bought an apt with tenancy till Mar'12. There is a clause written in the TA which I would like to seek opinions on. It says " Landlord shall on written request of tenant made not less than 3 mths before the date of expiry of this tenancy, at the expense of the tenant, grant to the tenant a further term of 1 yr from the date of expiry of this tenancy at the then prevailing market rent.... in the event of failure to reach agreement as to the rent, the rent shall be determined by a valuer to be appointed by the landlord and the tenant.

I have some queries regarding this clause:

1) If I had decided not to rent out the apt anymore, I would need to give 3 mths notice to the tenant?

2) Or if we had decided to rent out for 1 more year, we are able to increase the rent?

Thanks

Hi, from the wordings, it seems like if your tenant make a request to you by Dec 2011 to extend the lease for another year, you have to say yes. also the rent amount is to be decided by the prevailing market rent (which i guess can be adjusted up or down and not fixed based on current rent). also the wordings seems like if tenant want to continue to rent, you have no choice but to say yes subjected the the final deciding factor: the rent amount. i may be wrong and i strongly suggest you check with your lawyer (the one who help you with the sale) and ask them for a favor to explain this clause.

[tanya77 0]

I believe partial furnish is a better option than fully furnished property. since, you can custom the interiors according to your own choice. also, it's between tenant and buyer to negotiate on the rent.