Tuesday, October 4, 2011

Real Estate Rent In Singapore – Step By Step Guide

  1. Find a Singapore real estate agent or look through online ads / newspaper classifieds ads (3 sections to look under – private properties for rent, hdb for rent, landed properties for rent)
  2. View available properties for rent and gauge location amenities, facilities, accessibility to workplace & school
  3. Shortlist properties of interest and proceed to submit offer proposal to landlord – official document is called the "Letter of Intent" or LOI
  4. Together with LOI, tenant provides a 1-month deposit (goodfaith / goodwill deposit) to try to secure the landlord's acceptance of the offer. LOI may either be totally rejected (deposit will be refunded) or amended by landlord and returned to tenant for confirmation
  5. After LOI is accepted, landlord will proceed with requests made by tenant (e.g. provide additional furnishings, cleaning, servicing works)
  6. Concurrently, the legal Tenancy Agreement (TA) will be prepared and signed by both parties
  7. Upon TA being signed, tenant will give to landlord any other outstanding payments (any additional deposit & 1st month's rental in advance, together with the fees for stamping the document)
  8. Activate subscription to home telephone line, internet, cable TV & utilities
  9. During handover of property, an inventory list will be prepared by the landlord and both parties will take stock of the items in the property. These items will be returned in its original condition (notwithstanding normal wear and tear) at the end of the lease
You can find more articles about Singapore real estate in our blog. Stay updated via email, facebook or twitter, or contact us direct if you have any queries about property market in Singapore.

singaporerealestate - About the Author:
More about Singapore real estate info