Most Singaporeans think that renting out their flat or condo is an easy way of making some passive income.
Sure, it might take a month or two of talking to potential tenants and conducting viewings before you get your property rented out. But once you do that, you’ll earn a steady stream of rental income, every single month.
Now, what these folks don’t realize is that there are plenty of costs involved in becoming a landlord as well, including…
Just got an offer from a tenant? Congrats! You’re all set to generate a steady stream of passive rental income every month.
Don’t pop the champagne just yet, though. Before you can rent out your apartment to your tenant, you’ll still have to take care of certain things, including getting your Letter Of Intent, drafting the Tenancy Agreement, and getting that agreement stamped. Continue reading
So you’ve finally fulfilled your property’s MOP, and you can now rent out your property and reap that rental yield. It’s time to become a landlord!
Now, from an outsider’s point of view, becoming a landlord looks pretty simple. All you’ve got to do is list your flat on one of those property sites, conduct a few viewings, and find your ideal tenant.
But before you can do all that, you’ll have to first figure out how much rent to charge.
Everyone loves the idea of passive income, and one of the easiest ways to generate a steady stream of it is to rent out your home.
There’s one caveat, though… not everyone is eligible to rent out their property.
