There are many ways to rent a property in Singapore. There are also many things that you need to consider when renting, such as the location and type of house or apartment you want. You may also be wondering how much it will cost for your new home each month. This blog post will help explain these questions and more!
Get a license
Before you start looking for a place, make sure you know if you need a rental license. You might be allowed to rent one room in your own HDB flat or sublet or share with someone else without needing an ABSD. If you are not staying in the same household as a person of Singaporean citizenship over 60 years old, you will need a rental license. This license costs $60 and can be obtained from any HDB branch.
Find a property to rent
The most popular places to rent in Singapore are HDB flats and apartments, condo units, landed properties, and home-sharing. There are also many online listings for houses and apartments you can choose from.
An important thing to consider when renting a property is whether or not the place is accessible by public transport. Otherwise, it would be harder for you to commute from work or school.
Another thing you should consider when choosing a place to rent is whether it has the amenities and facilities that you want, such as a swimming pool, children’s playground, gymnasium, etc.
Renting an HDB flat
You can easily check the price of rentals in your area using this website:
It is a website that allows you to check the availability of rental listings. You can also compare prices and make a viewing appointment with your preferred property within two hours.
If you are renting an HDB flat, there are certain income ceilings that you must meet for eligibility. For example, if it is a 2-room flat in non-mature estates, the combined monthly income of the 2 working persons must be $1,900 or less.
Renting a condo unit
The main advantage for those who would want to rent a condo unit is that it would be much cheaper than renting an apartment. However, you should also take note that there are condominiums that have strict rules when it comes to renting out the unit.
Renting a landed property
If you are interested in trying something new or if you prefer having your own space, then perhaps renting a landed property would be for you! The expenses can be quite surprising though; there will also be additional costs like maintaining the garden and monthly body corporate fees to take note of.
Home-sharing
You can potentially save on costs by home-sharing, especially if your accommodation needs are basic; in return for free or low-cost housing, you might also need to agree to certain rules imposed by the resident homeowner. For instance, they could require you to pay overtime in cash (without receipts issued), which means you will need to keep track of your expenses yourself.
Arrange for the rental deposit and monthly payments
If you decide on a property, try to view it in person if possible and get the rental agreement done with them. You will need to pay a deposit before moving in. Make sure that you read through their terms and conditions carefully.
Rental deposits for HDB flats range from $200 to $1,000; while for private properties, the average rental deposit is 1 month’s rent.
Rental payments can also be made in a lump sum, or via renting the property monthly. Usually, you will need to pay at least a month’s rent as a down payment when applying for a rental property. For instance, if your friend asks for $2,000/month in rental fees, you might want to pay $2,000 as a down payment and the remaining $1,000 over 12 months.
Conduct a pre-tenancy inspection with your landlord or agent
The landlord or agent like parc clematis will conduct a walk through of the property with you, which is also known as a pre-tenancy inspection. Here they might point out some defects in the house and agree on how it should be fixed. They may ask for your opinion too. This is where you can familiarize yourself with the premises and negotiate if necessary.
Arrange for utilities and other services to connect
You will need to work out the utility bill sharing arrangement with your landlords too. For instance, you might need to pay half of the water bill each month while they take care of their own electricity bills. You should also make a plan in case there is a breakdown in any of the amenities or services. If you have a fixed-term tenancy agreement, you might need to arrange for any disruptions in your utilities before moving out as it would not be easy to do so later on.
Sign the tenancy agreement
After the pre-tenancy inspection, the landlord would usually provide you with a tenancy agreement to sign. This is where you will list down your details as well as those of your guarantors and disclose any previous rental history. Your landlord will also declare his details here, as well as those of his agent if he has one. The tenancy agreement will state the period of stay, rental fee, etc., so you should read through it before signing.
Conclusion
You can do it! With a little research and planning, you will be on your way to living the good life. Here are some last-minute, top-of-mind steps for you to take before moving into your new place.
Find out what it includes in rent or find an affordable unit that includes utilities; this may require additional paperwork from the landlord or agent. For example, if water isn’t included then make sure there’s a written agreement about how much you’ll pay each month.