My previous Japanese tenants (couple with young daughter) had decided my unit (936sqft 2beds) was too small for them (stayed at my unit for 3.5yrs & recently add a baby boy to their household). They decided not to renew after their lease ends 30/9 & shifted to my neighbouring blk’s 3bed unit.
My agent found another Japanese tenant (MD of a Japanese Co) & secured a 2+1 years lease for me at $3.3k per month. Quite a good deal i must say in today’s market. New tenant would be moving in coming Mon (8/10) & i only have exactly 1 week to get the unit ready (minor touch up required).
Me & wife would be staying over next 2days (Fri & Sat) to complete the touch up as well as enjoy it (cheap staycation 🙊). From day 1 since we bought the unit back in 2015 (bought with Tenancy) we never had a chance to hang around. Centris is located on top of Jurong Point and it is extremely convenient. We plan to catch a movie 🍿 🎥 or 2 over the weekend. It’s been years since we last went for a show. 😓
Rents had been sliding since we bought. Back in 2015 the unit was tenanted for $3.8k. Renewed for $3.7k in 2016 (2yrs) & extended for another 6mths at $3.5k (2018). Now only left $3.3k and it is considered very good as past 3mths URA history shows average rents are fetching around $3k for Centris. Fortunately we did a 3yr fixed mortage loan with BOC last year at 1.68% ($2.3k per mth so still positive cash flow!). Hopefully come 2020 the rental market will recover. 🙏🏻