Serious Old Sinkie Landlord Needs PAP's Help! Should PAP Help Small-timer landlords?

[JohnTan]

I am retired, and own a small shophouse which is rented by a restaurant. The rental is my only source of income.

As the food and beverage industry has been hit hard by the coronavirus pandemic, my tenant has difficulties paying me the rental.

I have passed on the property tax rebate I received from the Government in full to him. He used the property tax rebate to offset the rental. I am prepared to reduce the rental to lighten his load in running the business. However, he is still unable to pay the rental even if it is reduced.

I will be plunged into the deep end if I continue to receive no rental income for a prolonged period.

I need the income to pay for my daily expenses, utility bills, income tax and property tax.

I received a two-month deposit from the tenant, but it cannot tide me over the trying period as I have used most of it for the repair and maintenance of the shophouse.

I applaud the Government for its generous assistance to support workers, businesses and needy families through the Unity Budget, Resilience Budget, Solidarity Budget and the additional funding for the extended circuit breaker period.

I request that the Government provide more support to small landlords during this period.

https://www.straitstimes.com/forum/forum-small-landlords-need-more-help-during-pandemic

 

[A Singaporean]

Who did you vote for in the last election?

 

[bobby]

If you can own a shop house...you don't need any financial assistance from the gahmen.

Tip : Sell your shophouse if it is a burden to you and buy a HDB flat.

 

[SBFNews]

If you can own a shop house...you don't need any financial assistance from the gahmen.

Tip : Sell your shophouse if it is a burden to you and buy a HDB flat.

Exactly. Does he expect to be spoonfed to the day he dies? Typical useless sinkies.

 

[ToaPehGong]

Hope they can really post the real face of this kind of lau CB. Maybe he driving a Mercedes, staying in landed property and suffered major lost in stocks. Then come cry victim. Can own shophouse means not poor bloody leech.

 

[kaninabuchaojibye]

I am retired, and own a small shophouse which is rented by a restaurant. The rental is my only source of income.

As the food and beverage industry has been hit hard by the coronavirus pandemic, my tenant has difficulties paying me the rental.

I have passed on the property tax rebate I received from the Government in full to him. He used the property tax rebate to offset the rental. I am prepared to reduce the rental to lighten his load in running the business. However, he is still unable to pay the rental even if it is reduced.

I will be plunged into the deep end if I continue to receive no rental income for a prolonged period.

I need the income to pay for my daily expenses, utility bills, income tax and property tax.

I received a two-month deposit from the tenant, but it cannot tide me over the trying period as I have used most of it for the repair and maintenance of the shophouse.

I applaud the Government for its generous assistance to support workers, businesses and needy families through the Unity Budget, Resilience Budget, Solidarity Budget and the additional funding for the extended circuit breaker period.

I request that the Government provide more support to small landlords during this period.

https://www.straitstimes.com/forum/forum-small-landlords-need-more-help-during-pandemic

knmbccb! greed really no boundary

 

[shittypore]

Sell the fuking place and give the money away. Children or Gran kids. Than approach Com Care and collect mthly handout, no more problems. These are the fuckers, everything want if free.

 

[Leongsam]

knmbccb! greed really no boundary

In order for small businesses to thrive there must be small landlords because small businesses don't have the liquidity to purchase property to run their business from.

He could sell the unit now but he'd be selling it at a substantial discount as there is no rental demand.

The ones that are most likely to buy his unit under the current conditions would be the big players with deep pockets who can afford to leave the property vacant and wait things out.

The net outcome will be the rich getting even richer when the recovery kicks in.

Surely it is better for everyone if these small landlords are supported because they play a vital roll in the overall economy and ensure that the property market is not completely dominated by the big players.

This guy probably worked hard and lived frugally in order to buy the unit because he was trying his best not to depend on the PAP government. He should be lauded by you guys rather than being condemned.

 

[Nice-Gook]

In order for small businesses to thrive there must be small landlords because small businesses don't have the liquidity to purchase property to run their business from.

He could sell the unit now but he'd be selling it at a substantial discount as there is no rental demand.

The ones that are most likely to buy his unit under the current conditions would be the big players with deep pockets who can afford to leave the property vacant and wait things out.

The net outcome will be the rich getting even richer when the recovery kicks in.

Surely it is better for everyone if these small landlords are supported because they play a vital roll in the overall economy and ensure that the property market is not completely dominated by the big players.

This guy probably worked hard and lived frugally in order to buy the unit because he was trying his best not to depend on the PAP government. He should be lauded by you guys rather than being condemned.

property ownership is a joke in sinkieland ..ownership is time sensitive ,meaning 99 years leasehold...translated to depreciating by hours ,days ,months and etc

what PAP had done is property appreciation and artificial demand lump into one ...which cannot be sustained at all ...short term gains yes ,long term gain ,NO .

there is no way you can take a stategic position in property ownership even for short term gains as the govt has this land acquisition act ..and all property owners are at their mercy

who ever said to have made a fortune in prpperty markets in sinkieland are all were insiders within the party circle

 

[Leongsam]

property ownership is a joke in sinkieland ..ownership is time sensitive ,meaning 99 years leasehold...translated to depreciating by hours ,days ,months and etc

what PAP had done is property appreciation and artificial demand lump into one ...which cannot be sustained at all ...short term gains yes ,long term gain ,NO .

there is no way you can take a stategic position in property ownership even for short term gains as the govt has this land aquition act ..and all property owners are at their mercy

who ever said to have made a fortune in prpperty markets in sinkieland are all were insiders within the party circle

I have no idea how many more years he would have on his lease. How do these refurbished shophouse properties work?

 

[Nice-Gook]

I have no idea how many more years he would have on his lease. How do these refurbished shophouse properties work?

i KPKB not for his sake alone but in general

 

[JohnTan]

In order for small businesses to thrive there must be small landlords because small businesses don't have the liquidity to purchase property to run their business from.

He could sell the unit now but he'd be selling it at a substantial discount as there is no rental demand.

The ones that are most likely to buy his unit under the current conditions would be the big players with deep pockets who can afford to leave the property vacant and wait things out.

The net outcome will be the rich getting even richer when the recovery kicks in.

Surely it is better for everyone if these small landlords are supported because they play a vital roll in the overall economy and ensure that the property market is not completely dominated by the big players.

This guy probably worked hard and lived frugally in order to buy the unit because he was trying his best not to depend on the PAP government. He should be lauded by you guys rather than being condemned.

I'm also a small landlord but I have deeper pockets than this sort of old farts. Perhaps I should buy him out at a discount, and follow your advice of waiting this pandemic out before upping the rent by 50%.

 

[Splendicker]

No one save for rainy days in this episode? Or to down grade rather asking for social help, no shame no gain, hax3.

 

[bobby]

This gong chee bye uncle should just carry on collect rent as normal and make the tenant approach the gahmen for rent subsidy....

 

[Nice-Gook]

I'm also a small landlord but I have deeper pockets than this sort of old farts. Perhaps I should buy him out at a discount, and follow your advice of waiting this pandemic out before upping the rent by 50%.

no matter how deeper pocket you have PAP can wipe you out in seconds

remember ,the grand old building adjacent to MPH ..near national library ...think the current value may near a few million less than a billion...it belonged to a buisnees man ...for no reason the govt force an aquition, think in the 80s and compenasated 1 million ...even at that time ,i think ,the actual value runs to several millions...the resson cited was for preservation for historical sake

the owner contended if preservation is the only resson he could do better under preservation act ...govt refused ..the owner took the govt to court...after appeal after appeal he lost not only his property but all the monies spent on courts and lawyers

 

[JohnTan]

no matter how deeper pocket you have PAP can wipe you out in seconds

remember ,the grand old building adjacent to MPH ..near national library ...think the current value may near a few million less than a billion...it belonged to a buisnees man ...for no reason the govt force an aquition, think in the 80s and compenasated 1 million ...even at that time ,i think ,the actual value runs to several millions...the resson cited was for preservation for historical sake

the owner contended if preservation is the only resson he could do better under preservation act ...govt refused ..the owner took the govt to court...after appeal after appeal he lost not only his property but all the monies spent on courts and lawyers

The original land acquisition act allows the government to buy your land for what the land is worth, discounting its location or neighbouring amenities as these factors were not directly due to the efforts of the landowner. The government would only compensate you for property enhancement due to your direct efforts like repairs and improvements built by you.

 

[nirvarq]

I won't believe him.

A restaurant rental is way above 10k at least the size of 2 shops, They're less than 500k when PAP opens up for original rentals operators to allow purchase even half shops are already rented out at 3~4k minimum. Depends on 10k+ a month to survive when you don't even work ? Good life sial....

These are the worst greedy properties owners that raise and raise rental to exorbitant prices in SG.

 

[Nice-Gook]

The original land acquisition act allows the government to buy your land for what the land is worth, discounting its location or neighbouring amenities as these factors were not directly due to the efforts of the landowner. The government would only compensate you for property enhancement due to your direct efforts like repairs and improvements built by you.

what crap are you spewing John?

what is worth of anything ?...a diamond may worth a lot of money to you but aimply a stone to monkeys ...anyone who knows the fundamental of economics knows a value or worth is determined by supply and demand has ...no material has no worth or value except for the scarce supply available and its demand as of its time

eg,the whole of sinkie land or country didn't have much of value except for some orang asli fisherfolks ..neither did the sultan in control thought much of the worth of Sinkiland as a property too ...so,the Raffles bought it for peanuts ...had the British not put all those efforts you thus mentioned ,your property is only good to bury you

 

[JohnTan]

what crap are you spewing John?

what is worth of anything ?...a diamond may worth a lot of money to you but aimply a stone to monkeys ...anyone who knows the fundamental of economics knows a value or worth is determined by supply and demand has ...no material has no worth or value except for the scarce supply available and its demand as of its time

eg,the whole of sinkie land or country didn't have much of value except for some orang asli fisherfolks ..neither did the sultan in control thought much of the worth of Sinkiland as a property too ...so,the Raffles bought it for peanuts ...had the British not put all those efforts you thus mentioned ,your property is only good to bury you

You should study the land acquisition act better. Spewing insults does little to hide your ignorance.

Ah Gong was a damn fine lawyer and he wrote laws to allow the early PAP government to acquire vast tracts of land legally for low costs. Most governments elsewhere, especially nigger and asiatics, would have outright evicted the landowners with police or get outsourced militias to illegally do it.

The land acquisition act has been revised several times and land owners now get a better deal.

https://www.edgeprop.sg/property-news/are-you-compensated-fairly-land-acquisition

 

[Hypocrite-The]

The original land acquisition act allows the government to buy your land for what the land is worth, discounting its location or neighbouring amenities as these factors were not directly due to the efforts of the landowner. The government would only compensate you for property enhancement due to your direct efforts like repairs and improvements built by you.

Yes pap really compensate the owners well.

Changes to Land Acquisition Act will benefit land owners: Indranee Rajah
Senior Minister of State for Law Indranee Rajah in Parliament outlining the changes to the Land Acquisition Act, Aug 5, 2014. Photo: Channel NewsAsia
Senior Minister of State for Law Indranee Rajah in Parliament outlining the changes to the Land Acquisition Act, Aug 5, 2014. Photo: Channel NewsAsia
Published05 August, 2014
Updated 05 August, 2014
The ‘betterment levy’, imposed on the compensation a land owner gets when the land is acquired, will be removed

SINGAPORE — Land owners will now be better compensated when part of their land is acquired for development, following changes to the Land Acquisition Act.

Following amendments passed in Parliament today (Aug 5), the “betterment levy” — a fee imposed on the compensation a land owner gets — will be removed. This fee is equivalent to the rise in value of the area around the acquired land as a result of developments.

Senior Minister of State for Law Indranee Rajah outlined the changes: “Previously, if after having acquired Part A, the value of Part B goes up, when you compensate the owner for Part A, what we would have done is deduct the increase in Part B. So effectively the owner gets less. In this instance, what we are saying is we will no longer deduct the increase to Part B, which may have risen as a result of whatever else developments take place around that land. And in this way, the land owner benefits.”

The amendments to the Act will also minimise inconvenience to individual unit owners, and quicken the acquisition process and disbursement of compensation. For instance, the Management Corporation of strata-titled developments will be able to act on behalf of the individual unit owners when common property is acquired. Currently, when common areas in strata-titled developments such as carpark lots are acquired, all unit owners must go through the entire acquisition process even if their own units are not affected by the acquisition. CHANNEL NEWSASIA