#16 This Co-living Guru rented out 1200 rooms! Ft. Rental Trends and Scams!

This Co-living Guru rented out 1200 rooms! Ft. Rental Trends and Scams! | NOTG S3 Ep16 

On this week’s episode of Nuggets On The Go, Melvin Lim, Grayce, and Yu Rong from PropertyLimBrothers are joined by special guest, Eugene Lim, founder of The Assembly Place! After deciding to become a Real Estate agent to pay off his university fees, Eugene embarked on a path that would eventually lead him to establish The Assembly Place— a co-living operation.

Starting from an inter-terrace at Jalan Elok less than a year before the pandemic, find out how he surfed through the tides of COVID and circuit breakers, to obtain not only more rooms but even acquiring a competitor!

We breakdown co-living from the point of views of the tenant, landlord, and operator, as well as the current market trending. Tune in for tips, and Yu Rong’s advice on how to prevent falling into rental scams, all on this week’s Nuggets On The Go!

(00:00) Introduction
(02:04) Get to know Eugene Lim
(08:08) What is co-living
(09:41) Eugene Lim's social experiment for co-living
(11:12) 2019 Rental rates
(12:25) Eugene's acquired number of units back in 2019
(16:04) Co-living tenants point of view
(19:14) Pool of tenants
(21:03) Why co-living is better?
(21:33) Cap for Monthly utility
(23:04) Conflicts between tenants in the same apartment
(24:40) Tenant matching
(25:19) Tenant's privary in a co-living space
(26:52) How The Assembly Place solve tenant conflicts
(28:05) Co-living landlords point of view
(36:37) Realtor or Co-living operator (Pros and Cons)
(39:48) Partitions
(42:33) Tenants arriving to Singapore
(43:41) Minimum contract period of The Assembly Place
(43:59) Lease agreement
(44:18) Minor Repair Clause
(48:37) Co-living operators point of view
(55:25) Key factors for increasing rental
(56:05) Transitioning from part-time to full-time operator
(59:37) Other co-living competitors
(1:00:17) What is Strict Lease Model?
(1:00:47) Big players in co-living industry in Singapore
(1:01:19) The Assembly Place expansion
(1:03:10) Co-living business success
(1:06:00) Upcoming The Assembly Place platform
(1:08:58) Co-living courses
(1:10:53) Co-living B2B
(1:13:40) Rental Scams
(1:15:31) George's Rental Scam story
(1:17:26) Prevention from rental scams
(1:22:13) Conclusion
(1:22:43) Bloopers

Watch the video on our NOTG YouTube Channel:
https://youtu.be/t0lfsYMSKlg