What to do before finding a whole unit for rent in Singapore?
There are certain factors to consider before setting out to find a property rental Singapore house. This needs to be done so you can effectively search for the right property for you. In this section, we will cover the two things you need to do before finding a property for rent in Singapore.
#1 – Deciding on your budget
Staying in a rented place means that you will have monthly expenses to prepare for. Aside from the monthly rent, you will also be paying monthly utility bills. There will also be some upfront fees once you pick a place to rent. Furthermore, there will also be some maintenance fee depending on the property rental Singapore community. Thus, make sure that you have a budget planned and prepared for these expenses.
A planned budget will be able to help you find the suitable property for rent. Location is important if you want to find a whole unit for rent in Singapore that you can afford. The more far away you are from the Central Region of Singapore, the less the cost you will pay for rent. Furthermore, your budget should also be flexible. This is so you can have more rental options and not get stuck with limited choices that do not fit your needs. Therefore, you must set an upper limit rental budget.
#2 – Deciding on the property type and location
There are many property rental Singapore options. You can find a room for rent where you will need to share the house with other tenants. You can also opt for a whole unit for rent in Singapore so you’ll have the entire space for yourself. Either way, you will still need to decide on that.
Another important factor to decide on is its location. Do you prefer a place for rent near your work? Do you want a rental house that is a few-minutes walk away from the MRT stations?
Furthermore, you also need to take account the needs of your family members that will live with you. Does the location of the property for rent meet their needs as well? Thus, pick a location that will be beneficial for the whole family?
How to find a whole unit for rent in Singapore?
Now that you have decided on the property rental Singapore house type and the budget, it is time to look for prospects. The best way to search for a property for rent in Singapore is through an online listing portal. The two most prominent listing portals in Singapore are PropertyGuru and 99.co. These portals are easy to use since you can refine your searches based on what you are looking for. You can pick a location and a budget range and the portal will provide you the results you need.
Once you have completed searching online, you can save the ones you like. Then, contact the seller to schedule for a visit. If you do not have time to do all of these, you can seek the help of a trusted property agent. These agents can do the researching and the property visitation on your behalf. Furthemore, they can find the most suitable properties for you to choose from.
It is recommended that you visit the location of the property in different times of the day. This will help you get a clear idea of the neighborhood. You should also check out the facilities and amenities nearby. Make sure that you can afford the prices so you will be able to live there conveniently.
What to do after finding a whole unit for rent in Singapore?
Once you find the property rental Singapore unit that you want to live in, it is time to begin the rental process. There are two steps that you need to go through to be able to rent a property in Singapore.
Step 1: Sign the Letter of Intent
The Letter of Intent is a legal document that states the intention of the tenant to lease. In this document, there are a few important things that you need to make clear of. The first one is the Diplomatic/Repatriation Clause. This clause is important because it allows a tenant the power to end the lease contract after a two month’s notice.
The other things that you need to look out for is the booking or Good Faith deposit and the security deposit. The amount of these deposits should be clearly stated. Then, check if the lease term period is exactly what was agreed on. Also note if there is an option to renew.
Step 2: Sign the Tenancy Agreement
The Tenancy Agreement serves as the official contract between the tenant and the landlord. Once this is signed, the tenant is required to pay an advance rent and the deposits. Furthermore, the tenant should also pay the stamp duty. The exact rate depends on the rental amount and the leasing period.
Need more information on property rental Singapore houses?
That is how you find a whole unit for rent in Singapore. As you can see, renting a property in Singapore is a legal process. Therefore, it is important that you are prepared financially and have sufficient time to do all the procedures. If you want to learn more about property for rent in Singapore, read more of our articles on our website, SRX Property.