Most people don’t want to keep moving ! So they prefer not to rent, and they also like to do their own renovations. But for us we don’t mind moving and renovation not a big deal for us! So it’s still possible, depending on what are your priorities :)
Bcuz these are expensive houses. The area I’m renting in cost abt 4-5mio. If I buy, mth repayment is 17k. But rental is abt 10k However my property is nearer to mrt and can fetch gd prices to cover the rental. These kind of game only happen at high quantum properties. Haha. Cuz atas area and landed has low rental returns
But there is a net loss as the property that you are renting out is subjected to higher property tax rates and you need to pay income tax on the rental too
If you factor those in, there may be some nett loss, but it’s ok because for the property there is capital appreciation! And also the place we are renting is actually where we need to be in terms of kids school, etc, but yet not where we feel we want to invest our money in.. 😊
Hi there! It depends on the clause in the contract. Most ‘Option To Renew’ clauses states that tenant has the option to renew for a certain amount of time as long as it’s at the prevailing market rate. Some landlord try to say that the market rate is very very high so as not to let the tenant agree to the new rental rate. But if tenant really were to go and challenge this, tenant will still usually win the case!
