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789
13-05-12, 18:09
I read from Propertysoul.com that tenants for MM apartments usually sign very short rental contract instead of the usually 1 or 2 years.

Is this true?
carbuncle
13-05-12, 18:55
Never heard of that site. Whats its agenda?
Sleepyhead
13-05-12, 21:01
Not unusual wat... Not just MM but normal condos too.

My colleague, an expat, signed a 6 months lease whilst waiting for the wife to relocate over later, at which point I guess she will choose a better and more suitable unit for a longer lease?
radha08
13-05-12, 23:20
Never heard of that site. Whats its agenda?

AGENT detected....:scared-1:
heehee
13-05-12, 23:54
Generally, good and easily marketable rental property will not accept lease less than 1 year.


Not unusual wat... Not just MM but normal condos too.

My colleague, an expat, signed a 6 months lease whilst waiting for the wife to relocate over later, at which point I guess she will choose a better and more suitable unit for a longer lease?
richwang
14-05-12, 03:00
Yes, some sign 6 months contract - pay higher rental.
There are some trying to sign 1 month contract (for NUS visiting lecturers) - paying 50% higher rental. Project Management Committee has to come up with house rule to ban it.

Thanks,
Richard
smallant
14-05-12, 04:39
MM operate same rules as condos .. Not hotels ... So be careful .. CEA uncles will gives the Agts involved a Kopi call & likewise ura will invite Owners for tea sessions .. ;-)
789
14-05-12, 10:29
Yes, some sign 6 months contract - pay higher rental.
There are some trying to sign 1 month contract (for NUS visiting lecturers) - paying 50% higher rental. Project Management Committee has to come up with house rule to ban it.

Thanks,
Richard
So does it mean that rental yield for MM apartments could actually be lower because we need to factor in the vacant period in contracts?
DC33_2008
14-05-12, 12:13
Thy become service apartments:eek:
So does it mean that rental yield for MM apartments could actually be lower because we need to factor in the vacant period in contracts?
carbuncle
14-05-12, 12:20
Yes, some sign 6 months contract - pay higher rental.
There are some trying to sign 1 month contract (for NUS visiting lecturers) - paying 50% higher rental. Project Management Committee has to come up with house rule to ban it.

Thanks,
Richard
1 month stay hotel la. Duh...
carbuncle
14-05-12, 12:21
MM operate same rules as condos .. Not hotels ... So be careful .. CEA uncles will gives the Agts involved a Kopi call & likewise ura will invite Owners for tea sessions .. ;-)
Wonder if neighbourhood kopitiam or starbucks
Sleepyhead
14-05-12, 21:28
My parents, when advertising their PC for rent within the compound's notice board, got called up from 2 families wanting to rent the unit for 3-4 months whilst their own unit gets renovated. They were willing to pay a bit more than the usual asking price.

So looks like there is demand for 6 months or shorter lease term.

My parents declined though.
vip
14-05-12, 23:31
I read from Propertysoul.com that tenants for MM apartments usually sign very short rental contract instead of the usually 1 or 2 years.

Is this true?

Sorry, I've rented a MM to stay myself but never owned one.

I am just saying this from my experience of renting my three one-bedroom units and a two-bedroom unit. Over the years, the tenancies of the former are much shorter and less stable compared with the ones of the latter.

P.S. If agents can have their sites, why can't property owners set up their blog?