If you are going to rent a private condominium in Singapore, there are several major
factors to be considered before signing the Tenancy Agreement.
First of all, you normally need to appoint an agent to service you. He or she should
be someone who is familiar with the location and type of property you are seeking.
It is preferred that he or she is from a Listed Housing Agency and also a member
of the Institute of Estate Agents (IEA). You should be open with the agent in order
to get the optimal outcome.
Normally you do need to consider and discuss the following:
- Size: How many people will live with you and hence how many bedrooms and thus,
how large the unit you need;
- Facilities: Many large condominium projects do have full facilities, but sometimes
you may opt for boutique developments with limited facilities in the case of seldom
usage of such facilities;
- Amenities: Usually tenants need to look for banks, shops, markets within walking
distance;
- Duration of lease: In Singapore, it is normal for landlords to want a lease period
of 12 months or more, with a standard security deposit of 1 month rental;
- Furnishing: Generally there are choices of unfurnished, partly furnished, and
fully furnished units;
- Budget: Aside from monthly rental, you should also consider other living expenses
such as utility bills, phone charges, and usually also repair items for those costing
SGD 150 or less per item.
It is also important to be very sure that the landlord is indeed the owner of the
property, and not a lessee looking to sublease the property without proper authorization
to do so. There have been cases where the tenants are left out of pocket as a result
of such irresponsible dealings.
Prior to taking possession of the property, you should also ensure that in the event
that certain specific repairs and renovations are required, that they are all properly
listed in the Tenancy Agreement and are done before hand-over.
Note that it is also common practice in Singapore for the tenant to bear the stamp
duty for the Tenancy Agreement.