2+1 rental contracts + increasing rents!

[zzm9980]

Ok, not sure about the copyright issues. But go to the Asiaone Singapore forums and look any post with "Ang Moh" in the subject, or anything to do with cost of living or Jobs.

[x9200]

Whilst landlords are not a charity, correct, I don't see why I should be viewed as a walking Credit Card for some to abuse at will.

Then don't rent those units and you won't be abused.

Gosh Nobody would rent "those units" or complain over here if knew up-in-front that the LL was going to abuse them at the renewal time.

[nakatago]

Whilst landlords are not a charity, correct, I don't see why I should be viewed as a walking Credit Card for some to abuse at will.

Then don't rent those units and you won't be abused. Sadly, locals won't be too sympathetic to your complaints. They mostly blame us (well, Caucasians and ABCs) for everything being so expensive:

URL CENSORED DUE TO COPYRIGHT ISSUES

One of many threads with the same theme: Blame "FT" or "Ang Mohs". Don't read too much, your brain will hurt. It is essentially a Singlish version of the South Park "Dey touk err jebz" episode.

"DERKA DURR!!!"

The problem is, there is a genuine scarcity of rent-able places, especially those who are not on an expat package. Moreover, some LL's come up with elaborate schemes to either fleece the tenant or drive him away which is a pain.

And moving is such a pain in the arse.

[zzm9980]

Whilst landlords are not a charity, correct, I don't see why I should be viewed as a walking Credit Card for some to abuse at will.

Then don't rent those units and you won't be abused.

Gosh Nobody would rent "those units" or complain over here if knew up-in-front that the LL was going to abuse them at the renewal time.

Sorry, should have phrased it then to "don't renew the lease". You lease initially for two years, then have first-shot to renew at a new price for one more year without having to make a new offer on lease and hope the landlord likes your "profile" more than others.

I guess that seems non-intuitive to westerners who are used to all kinds of renter protection policies where a LL can't discriminate, and the concept of a LL considering your "profile" would mean instant lawsuit. But in Singapore those don't exist, and a LL can discriminate.

[nakatago]

. But in Singapore those don't exist, and a LL discriminates.

FTFY.

[ScoobyDoes]

Sorry, should have phrased it then to "don't renew the lease". You lease initially for two years, then have first-shot to renew at a new price for one more year without having to make a new offer on lease and hope the landlord likes your "profile" more than others.

Well, I did tell Mac to walk away so you seem to be telling me something I already said and trust me I'm not complaining about anything...... I just walk away and the LL can screw himself for all I care.

And these days it is less the Westerners and more the Mainlanders that are pushing up prices and taking jobs for now so people might be complaining in all the wrong places. Having said that the other problem is locals not wanting to do the work that FT end up being employed for so, in exactly the same way as LLs increasing rents by 50%, they end up being their own worst enemy with either greed or a pretend value of class driving sentiment......and long term empty apartments.

[macaroonie]

It doesn't really make financial sense to rent here long term does it? Long term as in >5 years.

[zzm9980]

It doesn't really make financial sense to rent here long term does it? Long term as in >5 years.

Not if you plan to become a PR, and can take advantage of CPF to pay your mortgage.


As explained to me, a simplification of how it works (someone correct me if Im wrong)

20% of your monthly pay, or 20% of $4500, whichever is less, is a mandatory deposit into CPF every month. This portion isn't taxed.

Employer matches ~16.5% of the same amount.

This money can now be used towards a down-payment and/or monthly mortgage payments.

I know it's a bit more complicated than that, but that's how it's been explained by all of my coworkers and the #1 reason they harp on me to apply for PR as soon as I can. (1yr of P1 EP they say, I'm skeptical after reading these forums though)

[sundaymorningstaple]

Approximately 70% of it can be used to service a mortgage or down payment. the other 30% goes into your medisave account & special account. What goes into the special account you cannot use until retirement. The only way to get it out sooner is to give up your PR.