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The rental market is heating up, and even rooms with stricter-than-usual restrictions are being snatched up quickly.
In a TikTok video posted on Dec. 10, 2022, TikToker @sgniceproperty shared a tour of a Housing Development Board (HDB) room that was put up for rent.
Located at 38 Toa Payoh Lorong 5, the room was listed for S$1,200 a month, which could be considered as higher than the current average asking price.
A quick Google search revealed that some rooms in Toa Payoh are going for S$900 or S$750. Screenshot via iproperty.com
There was also a caveat: it was mentioned that the rental of the common room -- which refers to a bedroom without an attached bathroom in an HDB unit -- would be one that is "full of restrictions".
Some of the rules that were listed in the video included "can only wash clothes once a month", "no cooking", and "must clean house for the landlord".
Screenshot via @sgniceproperty
In the video, he jokes:
"Just like staying in prison but you get to pay rent. Come experience controlled living at a very cheap cheap rate, with high levels of restrictions, and be thankful to pay S$1,200 only. So so damn cheap."
As of the time of writing, the TikTok video has garnered approximately 115,000 views.
Speaking to Mothership, the TikToker, property agent Arun Kumar, elaborated that the utility bills would also be split equally between the landlord and tenant.
Room snatched up
While some users in the comment section railed against the price of the rent and the rigid restrictions, Kumar shared that the room was rented out within a day of the first viewing.
He conducted viewings of the HDB unit about two weeks after the date of posting, during which it was immediately "snapped up" on the very day.
A total of 18 groups viewed the unit, and some potential tenants offered more than the asking price of S$1,200.
One family of three offered S$1,500 for the room in question, Kumar revealed.
Eventually, the room was rented out to two female coworkers, who are both Malaysian S Pass holders.
According to Kumar, the pair of tenants had expressed their interest in renting the room after seeing his video -- even without seeing the room.
He elaborated:
"When viewed, they agreed immediately. No concerns were raised. In fact, all groups understood the rules. I explained in detail when they arrived."
The tenants are paying S$1,200 per month, and the landlords are a Singaporean couple in their 30s.
As to why the rules were written in such a seemingly bizarre manner, Kumar explained that he usually suggests that the landlords be explicit when setting the rules before he posts rental listings.
This is to prevent "nightmare" tenants.
Additionally, while the rental price might seem rather painful, Kumar opines that he generally considers rental to be quite cheap in Singapore.
"'Expensive' is a misused word. It depends on the area, location, cost of living, and the cost of purchase of a similar property versus the yield for the property owners.
[As a property owner] your rental should cover your mortgage payments, plus maintenance and council charges [and so on].
So, considering that interest rates are high, many properties are actually being rented these days at below break even points."
Top images via @sgniceproperty TikTok