For Landlords

Common Questions Landlords Ask

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1. How Do I Determine the Right Rent for My Property?

Setting the right rent involves balancing market demand with your property’s value. Factors include:

~ Market Comparison: Reviewing rental rates of similar properties in your area.

~ Property Features: Considering the size, condition, and amenities of your property.

~ Current Market Trends: Analyzing trends in rental prices and demand.

We provide a comprehensive rental analysis to help you set a competitive and fair rent for your property.

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2. What Should I Include in a Lease Agreement?

A well-drafted lease agreement protects both you and your tenants. Key elements include:

~ Rent Amount and Due Dates: Clearly stating the rental amount and payment schedule.

~ Duration of Lease: Specifying the lease term and renewal options.

~ Security Deposit: Outlining the amount and conditions for its return.

~ Maintenance Responsibilities: Defining who is responsible for repairs and upkeep.

~ Rules and Regulations: Including policies on property use, noise, and pets.

 

We can help ensure your lease agreement covers all necessary aspects and complies with legal requirements.

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3. How Can I Increase My Rental Yield?

Maximising rental yield involves enhancing your property’s appeal and reducing expenses:

~ Property Upgrades: Consider nicer, modern renovations and better furnishings that are stylish yet affordable. These improvements can justify higher rent.

~ Furnishing Options: Offering fully furnished units can attract higher-paying tenants, especially in high-demand areas.

~ Regular Maintenance: Keeping the property well-maintained can reduce vacancy rates and command higher rent.

~ Targeted Marketing: Ensuring your property is visible to the right audience can reduce vacancy periods.

 

We will guide you on the most effective strategies to enhance your rental yield based on your property’s specific potential.

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4. How Do I Screen Potential Tenants?

Screening tenants effectively is crucial to finding reliable renters. Key steps include:

~ Verification of NRIC and Foreign Passes: Conducting proper checks on NRICs and ensuring foreign passes are valid and registered with MOM (Ministry of Manpower).

~ Filtering Unsuitable Tenant Profiles: Identifying and filtering out tenants who do not meet your criteria by asking the right questions to assess financial stability, rental history, and other relevant factors.

We will assist in ensuring these checks are thoroughly conducted to secure trustworthy tenants for your property.

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5. What Are My Responsibilities as a Landlord?

As a landlord, your responsibilities include:

~ Property Maintenance: Ensuring the property is in good condition before handover and addressing maintenance issues in the midst of the contractual period

~ Legal Compliance: Adhering to local landlord-tenant laws and regulations.

~ Tenant Communication: Responding promptly to tenant concerns and requests.

~ Safety Standards: Maintaining safety standards for your property.

 

We will guide you through your responsibilities and help you stay compliant with all relevant laws.

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6. How Do I Handle Repairs and Maintenance?

Effective management of repairs and maintenance involves:

~ Detailed Inspections: Inspecting the property to identify issues early before handover to tenant.

~ Emergency Repairs: Addressing urgent repair needs promptly.

~ Service Providers: Coordinating with trusted contractors for repairs and maintenance.

~ Tenant Communication: Keeping tenants informed about repair schedules and processes.

 

7. What Do I Do if a Tenant Defaults on Rent?

Handling rent defaults involves:

~ Late Fees: Applying late fees as outlined in the lease agreement.

~ Communication: Contacting the tenant to discuss payment issues and potential solutions.

~ Legal Actions: If necessary, pursuing legal actions such as eviction in accordance with local laws.

 

We can provide guidance on managing rent defaults and taking appropriate actions if necessary.