Checks and balances on exorbitant rental increases

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macaroonie
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Checks and balances on exorbitant rental increases

Post by macaroonie » Mon, 26 Dec 2011 2:05 pm

Are there any organisations in Singapore that keep track of the exorbitant increases in rental? If the increases are way above inflation and CPI, what sort of a justification is there? Is >50% within 2 years justifiable? or is this just how Singapore works.

Thanks anyone, appreciate it!

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sundaymorningstaple
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Post by sundaymorningstaple » Mon, 26 Dec 2011 2:28 pm

Macaroonie, you been here what? Two or three years now? You already know the answer to that one. A LL can ask for anything they want when it comes to lease renewal time. It's how they can ditch tenants that they don't want, or to empty the unit in time to sell the property without the inherent problems of selling with a sitting tenant. There are now "some" laws to reign in rouge agents, but there is nothing to stop a LL for asking for the moon.

But, happy holidays anyhow!

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macaroonie
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Post by macaroonie » Tue, 03 Jan 2012 1:43 pm

Gosh and here i was hoping that with all the recent changes the ridiculous prices would also be examined! Wishing thinking!

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Post by cufflinks939 » Tue, 03 Jan 2012 3:13 pm

It's a free market, ruled by forces of supply and demand..

If someone wants to charge $60 for a hamburger, that is their prerogative. However, it is the buyer's prerogative not to buy it and drive them out of business as a result!
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Post by x9200 » Tue, 03 Jan 2012 9:58 pm

cufflinks939 wrote:It's a free market, ruled by forces of supply and demand..
...and greed.

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Post by JR8 » Tue, 03 Jan 2012 10:04 pm

x9200 wrote: ...and greed.

... as is especially evident in SGns.

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Post by the lynx » Tue, 03 Jan 2012 10:29 pm

JR8 wrote:
x9200 wrote: ...and greed.

... as is especially evident in SGns.
Which is why I never go through them. Have always gone by personal recommendations from friends, neighbours etc. Requires luck and effort but definitely worth it.

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Post by x9200 » Wed, 04 Jan 2012 7:47 am

Actually for non-opportunistic situations the kiasuism is probably the most influential factor. Never seen so many vacant apartments as of the peak of the rental some 3y ago.

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Post by kimora » Thu, 05 Jan 2012 7:27 pm

Two different leases later (each was two years), being a good tenant, asking for zero repairs gets you nowhere! So now we are locked in for 3 years and yes it is a disgrace that you can't take up your issues nowhere and landlords can pretty much screw the tenant.

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Post by JR8 » Thu, 05 Jan 2012 8:17 pm

kimora wrote:Two different leases later (each was two years), being a good tenant, asking for zero repairs gets you nowhere!

As you (should) know you are liable up to a certain level (say $100-300) for minor repairs. You signed that in the lease so you can't gripe about it.

If you did not ask the landlord to make repairs that would have cost above that, then that is your decision. Not a good one though I'd suggest as you might be held negligent in reporting damages (as typically required by the lease).

Being a mature and responsible tenant that pays rent on time definitely wins credit with most landlords (I speak as one). The last landlord I had in SG (local SGn Chinese) was great, as was the agent, but I appreciate not everyone is so lucky.



So now we are locked in for 3 years and yes it is a disgrace that you can't take up your issues nowhere and landlords can pretty much screw the tenant.

What issues do you have? The landlord can't just 'screw the tenant', although it seems from reading here that some do try. Or are you suggesting SG should have rent control?

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Post by carteki » Fri, 06 Jan 2012 9:06 am

kimora wrote:Two different leases later (each was two years), being a good tenant, asking for zero repairs gets you nowhere! So now we are locked in for 3 years and yes it is a disgrace that you can't take up your issues nowhere and landlords can pretty much screw the tenant.
And the tenant can just pack up and leave at the end of the lease. They are not holding a gun to your head to stay. If they don't know what a good deal they have - nothing you tell them is going to make a difference (until they have a bad tenant).

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Post by Segue » Fri, 06 Jan 2012 1:45 pm

Even if you are a perfect tenant, you almost always get screwed as an incumbent tenant. Landlords will typically increase rent well beyond what the market rate is, thinking that you will take it since its too much trouble to move.

The only thing you can do is counter with a rate that you think is reasonable. If they don't accept, find another place that has been sitting vacant for two months and the landlord realizes that his expectations are not realistic.

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