Found new HDB tenant in 9 hours with 30.2% rental increment & 9.5% rental yield

I found my first HDB tenant in year 2017 within 3 days. 

Read the blog here : JK Holdings: 4-room HDB Rental (Toh Guan @ Jurong East) (Revision 02) (jkfund.blogspot.com)

On January 26, 2022, I found my new HDB tenant in just 9 hours. That's a new RECORD!

Here are the timeline (based on my what's app timings):

3.35 P.M. : I informed my agent that my unit will be available for rental, looking at S$2,400.

7.11 P.M. : Agent proposed one tenant profile and I approved.

7.55 P.M. : Viewing completed! Can you believe it?

8.58 P.M. : Rental of S$2,800 offered for 2 years. What the XXXX !!!

10.31 P.M. : Tenant requested to move in the items on Sunday (Feb 27th) while tenancy lease starts on March 1st. Not a problem!

That's 9 hours duration to secure the deal, the rest are just paper works.

On January 27, 2022 timeline:

12.30 A.M. : Letter of Intent received for signature. That's how hardworking my agent was!

7.52 A.M. : Agent commission agreement form received for signature.

8.50 A.M. : Received tenant good faith deposit.

In short, my existing tenant will end the tenancy lease on February 28th ( he will start moving out the items at mid-Feb ) and the new tenancy lease will start on March 1st. No time wasted. Immediate transition to the brand new 2 years tenancy contract. Sweet!

Rental increased from S$2,150 to new rental of S$2,800.

Rental increased 30.2%

Rental yield now 9.5%

Passive income (2 years) = S$67,200

The HDB private housing loan (Maybank) had been fully paid in year 2014.

S$2,150 rate was 5 years ago and I had not increased the rental since.

S$2,800 rental is the second highest rental for 4-room flat at Toh Guan as there is one unit rented out at rocket high price of S$3,300 in January 2022!

65x rental transacted in Toh Guan (4-room flat) for the past 12 months.

Average rental: S$2,226. 

Median rental: S$2,200.

You can find all the HDB rental caveat here at this link: HDB | Market Rental Rates

I also checked for 5-room flat and Executive Apartment/Executive Maisonette data at Toh Guan, Jurong East.

For 5-room flat, total 50x rental transacted for the past 12 months.

Average rental : S$2,427.

Median rental : S$2,350.

Highest rental : S$3,300 as well.

For EA/EM flat, total 63x rental transacted for the past 12 months.

Average rental: S$2,744

Median rental: S$2,700

Highest rental: S$3,600.

February 11th, 2022: Tenant returned keys but still pay full rent for the month of February.

February 12th, 2022: Started to clean the unit.

February 13th, 2022: Completed cleaning.

February 15th, 2022: Received quotation of S$1,173 to make good the unit.

- Labor and materials to remove peel off plaster outside master bedroom toilet and re-plaster/paint the affected area.

- Labor and materials to paint 1 wall with sealer and white paints (include laying of protection covering).

- Labor and parts to replace 1x cove light.

- Labor to supply and replace the door bell switch and door bell.

- Labor to check and replace cooker hob.

- Labor to supply and replace 1x bidet spray set.

- To supply and replace 2 way tap at master bedroom toilet.

- Labor to supply and install the common toilet door latch.

- Labor to bring down chandelier, disconnect power supply, patches hole and paint.

- Transportation.

February 18, 2022: All touch up completed. I am satisfied.