Serious Record No of FTs but Rents Kept Falling!

[ginfreely]

You have a maid do it. If you have your own maid, you send her to the apt and let her spend 1-2 hrs there. Replenish with cleaning supplies and toileteries. If convenient to MRT, she can go there herself. Usually, I already have the cleaning supplies at the apt, (eg. mop. bucket, broom, etc). when the tenant wants to clean up, they can use it. Otherwise, the maid will use those to clean. She will bring toilet paper, clean, mop, do the laundry like wash the bed sheets and pillow cases. If you want a good thorough cleaning, then at least 2 hrs. But this only happens when the tenant moves out. Its not a daily service. There is also a cleaning fee that I charge for the tenant. Unfortunately, its not a lot. Its like only $21. In other countries, the cleaning fee can be $100. Its a one time cleaning fee charge. Neighbours don't complain, they are doing the same too. Or at least they have regular tenants. If its only men going in and out of the apt at all hours of the day, then you will see the neighbours start to complain.

So it's not daily housekeeping. How long do they usually stay? Looks like alot of work to clean , mop and wash bedsheets etc after tenants leave. If they don't stay long it's not worth the extra work, especially when no maid. Why cleaning fee so low? $21 can't hire part time cleaner.

 

[ginfreely]

Agents are the biggest rip offs. when you have criagslist, airbnb, propertyguru, etc, why use an agent. I have had more problems with agents then with tenants.

I don't mind paying agents as long as they can get me higher rental. But you got to control them and not let them control the rental price.

 

[ginfreely]

get your maid to do it like f trash Premanjali Gupta who called sgian SHITS after studying in our U for free and getting a good paying job with Synthesio
........ she was renting out a condo room with maid service thrown in.......... which is illegal BUT then local laws are for locals only?

Is it illegal subletting? Why no raid on her?

 

[Papsmearer]

So it's not daily housekeeping. How long do they usually stay? Looks like alot of work to clean , mop and wash bedsheets etc after tenants leave. If they don't stay long it's not worth the extra work, especially when no maid. Why cleaning fee so low? $21 can't hire part time cleaner.

The length of stay is dependent on your pricing too. Weekly rate are anywhere from 10-15% of the nightly rate and the monthly is rate is up up to 20% off the weekly rate. I have yet to clean one of my apts after a tenant leaves. I have always got some DW or other people that will do it for me. You give them $30-40 for 2 hours, and they will do a good job of cleaning. Yes, the $21 does not recover the cleaning costs at all, but that is the market for it in singapore. This kind of labour is cheap. You must have some relatives that have a maid. Borrow her for 2 hours, and that's all you need.

 

[Papsmearer]

I don't mind paying agents as long as they can get me higher rental. But you got to control them and not let them control the rental price.

If you are willing to pay half month's rent, then that's good. But whatever the agent can get for you, will be a 2/3 or half of what you can get through AirBnB.

Let's say you have an older condo that is normally rented for $3000 per month. That equates to about $100 per night.

But lets say that you can get $175 per night for the same place on AirBnB, that's $5250 per month. Even if you have only 75% occupancy for that month on average, that is almost $4000 per month. 33% more then the conventional rent. Don't forget too that even in a regular rental, you still need thorough cleaning after the tenant ends his one year lease. Plus sometimes, you need to repaint the place and what not.

 

[ginfreely]

The length of stay is dependent on your pricing too. Weekly rate are anywhere from 10-15% of the nightly rate and the monthly is rate is up up to 20% off the weekly rate. I have yet to clean one of my apts after a tenant leaves. I have always got some DW or other people that will do it for me. You give them $30-40 for 2 hours, and they will do a good job of cleaning. Yes, the $21 does not recover the cleaning costs at all, but that is the market for it in singapore. This kind of labour is cheap. You must have some relatives that have a maid. Borrow her for 2 hours, and that's all you need.

Actually can, but need to ask favour from others and difficult in the long run to borrow other people maids . Illegal too I think..

 

[ginfreely]

If you are willing to pay half month's rent, then that's good. But whatever the agent can get for you, will be a 2/3 or half of what you can get through AirBnB.

Let's say you have an older condo that is normally rented for $3000 per month. That equates to about $100 per month.

But lets say that you can get $175 per night for the same place on AirBnB, that's $5250 per month. Even if you have only 75% occupancy for that month on average, that is almost $4000 per month. 33% more then the conventional rent. Don't forget too that even in a regular rental, you still need thorough cleaning after the tenant ends his one year lease. Plus sometimes, you need to repaint the place and what not.

Sounds good deal. So what's your vacancy rate like? Is 75% achievable usually? URA was doing some study or questionnaire on short term rental some time ago, who knows maybe will become legal soon.

 

[Papsmearer]

Sounds good deal. So what's your vacancy rate like? Is 75% achievable usually? URA was doing some study or questionnaire on short term rental some time ago, who knows maybe will become legal soon.

If good location, maybe 90% occupancy every month, especially if you have been well reviewed on AirBnB. If you are so scared of whether this is illegal or not, don't do it. U think FTs and foreigners doing illegal subletting and what not, are wringing their hands wondering whether its legit or not? thousands of them are doing it and earning money. If you are so kiasu, don't do it.

 

[ginfreely]

If good location, maybe 90% occupancy every month, especially if you have been well reviewed on AirBnB. If you are so scared of whether this is illegal or not, don't do it. U think FTs and foreigners doing illegal subletting and what not, are wringing their hands wondering whether its legit or not? thousands of them are doing it and earning money. If you are so kiasu, don't do it.

I where got kiasu ? Just kiasi only. Nevermind my tenancy still long, can wait and see.