Hi, wanna ask opinions from all sifu here with experience.

Let say i bought a subsale , and after all the money i spent, i had no money to do renovation. As i planned to do major renovation plus all new furniture ( cost a bomb)
by calculations, if i didnt die (touch wood) or permanent disable ( touch wood) , i can have enough fund in 1 year time.

Question
1. Should i rent out for one year agreement.?
my worry : Will people rent if they know im going to take back the property in one year time ? (terrace house btw) The house is not for investment purposes.

2. Should I just leave it and go there to clean every single day.?
Reason: rent out might face tenant problems. not paying. or request me build this and that (cost money too)

The reason i wanted to buy now because landed property will keep going up no matter how bad the economy is. and the location suitable for my kids education and convenient. i can buy cheaper but far far away.. Plus a highway nearby is going to complete in 2 years time.
Yes. I know some people might say "no money then dont buy la"" .

I m a property noob here.

Any suggestions or insight that can share?

Simple...just rent out, and earn some money.
Take it back after a year, and do your renovation.

There are always risks associated to be a landlord. You cant expect just to collect rental without providing some basic things for the tenant or repairs if is landlord responsibility. However default rental is another thing to deal with.

Generally, many tenants prefer long term agreement. However, some may start with 1 year as they are not sure of the place. After that, they may extend or shift. If landlord wants back the house, then give proper notice to tenant for them to shift.

Alternatively, you can apply for personal loan to do your reno if you dont mind paying interest.

Lastly, you can just leave it vacant.

So there is no right or wrong way. Is your house, you decide and not answerable to others.

Hmm... If u r not kind... U dont have to let anyone know that u will be taking back the unit in a year time. By signing a one year tenancy, no one will suspect u will take it back after a year

If u r kind enough, there are some tat really plan to shift every year too

Usually... for some items/things, it will deteriorate quicker if not in used compared to been used daily

So... rent out is better.
Another scenario... Let's say at least u just rent out a room, u indirectly 'employed' a free 'guard' to keep-looking at ur unit compare to a bare unit which easily attracts 'unemployed'

Thank you for your insight.

Thats why i need some insight and be prepared. I do not know "what I dont know".

Thats what i worry too. cz its a terrace house, normally family type tenants will rent. not college student or single person. they only can rent for 10 months then another 2 month(early notice will be given so that they need to find new house) they need to prepare to move out again. If family wanna pindah rumah is such a hassle with kids etc etc.

worry if i didnt tell them in advance, they will "revenge" on my property when i wanna take it back.

Generally, people rent unfurnished houses with the view of long term rental.

No one is obligated to extend rental beyond the contract. Not you, not them.

Any requests for renovation will be brought up before signing, unless its a defect/repair. Don't agree to anything you dont want to, settle.

For your scenario, I would recommend you be upfront with anyone you discuss with that it is a 12 months with no extension.
Say it early, better to filter tenants out asap instead of at the end of a 45 minute call.

I dont understand why you want to clean an empty house every single day...?

Not really worth the hassle of looking+screening+waiting for tenant if your move in timeframe is that short, especially if it's empty landed which is usually only attractive to tenants looking for long term stay.

Just go back weekly/monthly to do basic upkeep (going everyday is a bit much, waste of petrol n cleaning supplies too LOL(

Straight go for rent it option. Empty house aging faster.

I just try to have some sense of humour actually

You might have different plan later so instead of leave it empty for one year why not rent it out first to increase your cash flow.
Worst case later think how to find a reason to stop renting him