How to Rent Property in Singapore

 

Some people simply aren’t comfortable with the concept of buying a home in Singapore and would rather rent one instead based on a number of reasons. There are many options available when considering the various kinds of property to rent in Singapore. It’s good to know ahead of time what you’re looking for. Some available property types to rent may include the following:

 

Landed Property

Based on the size and location of the home, the average cost of rent for landed properties can range from $10,000 – $30,000 a month. Landed property can include different types, such as terrace homes, semi-detached homes, detached homes, or bungalows.

High-Rise Buildings

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Remember to get permission from the Housing Development Board before buying a HBD flats.

 

1. HBD Flats in Singapore

Keep in mind that if you decide to sublet a whole apartment you’ll need permission first from the Housing Development Board. Furthermore, subletting one bedroom only works with flats that have three bedrooms or more. Therefore, an entire unit may cost between $2,000 – $3,000 a month depending on the location and condition, while a single room may run anywhere between $500 – $1,000.

 

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Service apartment typically have gyms, business centres, cleaning services, and cafes for the residents.

 

2. Service Apartments

Service apartments typically have gyms, business centres, cleaning services, and cafes. The average monthly price can vary from $2,500 – $6,000 for just a one bedroom apartment and as much as $5,000 – $10,000 for a two bedroom rental.

 

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Price range depend on renting a master bedroom or a common room.

 

3. Room Rental

The monthly expense of sharing a rental apartment can range from $500 – $1,500 a month based on whether you’re renting a master bedroom or a common. It’s crucial to agree ahead of time on certain issues like sharing the expense of electricity and other utilities including water and gas.

 

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Condominium is unique properties provide with security, pools, and gyms.

 

4. Condos

Condos are unique properties that offer things like security, pools, and gyms. Smaller condos will likely not have as many amenities as larger condos. The average cost for a monthly condo rental can range from $2,500 – $10,000 overall.

 

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Steps to Rent in Singapore

After you understand all your options to rent, consider the following steps in order to successfully rent what you’re looking for.

 

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Having a clear-cut budget in mind to decide which type of property you are renting.

 

• Determine your budget.

Having a clear-cut budget in mind will greatly help you decide what kind of property to rent in addition to its location. Make sure that your budget can cover any unforeseen situations along with adequately covering the rent in case anything happens.

 

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Think smart and all the consequences before you decide to rent a property.

 

• Determine what kind of property you want to rent as well as the location.

Key aspects to consider when deciding where you want to rent in Singapore include the options for public transportation, the facilities you need, the number and age of all family members, how far away you’ll be from work and/or school, and all the particular amenities you want, like libraries, malls, and grocery stores.

 

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Take notes and photos of each property you visit to decide which the best and purchase it.

 

• Schedule property viewings.

Visit your shortlist of properties and take notes and photos of each one to help you decide later which one is best. If possible, view the property at different times throughout the day in order to get a good ‘sense’ of that particular neighbourhood. Then, make an even shorter list to narrow your search down even further. Note any extra furniture or repairs you need prior to moving in.

 

• Letter of Intent

Once you’re sure which property you want to rent, it’s customary to sign a ‘Letter of Intent’ that shows your intent to lease along with any other requirements you may have. Pay close attention to the details of the Letter of Intent for best results.

 

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• Signing Your Tenancy Agreement

After you sign the ‘Letter of Intent’ and submit your deposit, you’ll sign what’s called a Tenancy Agreement. Lastly, you’ll need to pay your rent in advance at the time of your signing.

It’s important to go over your inventory list in order to ensure that each item is present and to also note any defects you may notice. Be sure you get all the available keys for your apartment as well.