4 Ways to Save Money When Searching for Property to Rent in Singapore

Finding an affordable place to live in Singapore can seem like hunting for a needle in a haystack. There are many real estate options available to you, but the competition for each listing can be tough. It could take you several days or longer to find the right place to live, but that property may be quickly snatched up by someone else before you act on it. In some cases, you may be forced to rent a space that is more expensive that you had hoped due to limited options and competition. While these are unfortunate realities for many people who are trying to find a great place to rent, the fact is that there are a few ways that you can save money when searching for your next rental property in Singapore.

 

Consider All of the Options

You may have a desire to live in a studio apartment or a smaller apartment, but you may find a better overall value when you think outside the box. For example, renting a privately owned condominium just a short distance from an apartment that you are interested in may be a more affordable solution. You may qualify for an HDB flat. This is a type of government subsidized housing solution that is available to those who qualify. Researching the qualification requirements could be beneficial for you if you want to save money on your rental.

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Start Your Search Early

There are new property rental listings added to the choices on a regular basis. When you start searching for a property early, you will theoretically have access to a larger number of listings. Of course, you do not want to start your search so early that you cannot act a property that meets your needs. However, the landlord may be willing to allow the property to sit vacant for a few weeks if you are a qualified tenant who has a solid rental history verified by previous landlords.

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Consider All Related Expenses

Another idea is to pay attention to all related expenses. It is one thing to find a property with a rental rate that is within an affordable range for you, but other expenses in your budget will also adjust when you move. For example, an older and larger property may be less energy efficient than a newer and smaller property. Therefore, you may notice your utilities expense decline after moving. Making all of the adjustments to related expenses in your budget can help you to determine which option is the most affordable one for all expenses.

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Negotiate the Terms

When there is stiff competition in the marketplace, you may feel as though you have no leeway to negotiate less terms. However, landlords want to get their property occupied quickly, and they want to work with a qualified tenant with a solid rental history. If they believe that you are the right tenant for their property, there may be some room to negotiate with the lease terms. For example, you may negotiate a slightly lower monthly rate in exchange for extending the lease by a few months.

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As you can see, there are numerous steps that you can take to get a better overall deal on your rental property in Singapore. Whether you are just starting your property search or you have already been searching for the right place for several days or weeks, you can begin applying these tips to your efforts today. It is possible to get a great deal on your rental when you follow these tips.