how do i rent a condo in singapore

How do I rent a condo in Singapore?

1. Search for condos for rent.
2. Ensure you’re getting the best rental rate.
3. View the condo (and the neighborhood!)
4. Draft a Letter of Intent (LOI) and pay the Good Faith Deposit.
5. Sign the Tenancy Agreement.
6. Pay the Rental Stamp Duty.
7. Do an inventory check.
8. You’re ready to move in!

Full Answer

How much does it cost to rent a condo in Singapore?

1000 Condos for rent in Singapore. 1000. Condos for rent in Singapore. Whole Unit - CBD. $6,500.

How long does a lease last in Singapore?

Term of Lease – Usually, the rental period in Singapore is 1 or 2 years. Just make sure to state how long you plan to reside in the property. When the time comes for you to renew it, be sure to inform your landlord 2-3 months prior to your end date.

Can I rent out my private property or condo?

Because you own a private property or condo, you’re free to rent it out (in whole or in part) without any government approval. However, you’re still subject to certain stipulations. Firstly, you mustn’t rent your condo out for less than 3 months at a time (this means Airbnb is a no-go).

Can I Rent my condo out for less than 3 months?

Firstly, you mustn’t rent your condo out for less than 3 months at a time (this means Airbnb is a no-go). Next, you’ll also need to adhere to the occupancy cap rule, which states that the maximum number of unrelated occupants that may be accommodated in a property is six.

What to ask for prior to key handover?

What is a TA in a tenancy agreement?

How long is the warranty on a rental unit?

What is a LOI in a rental agreement?

How much is a security deposit for a 2 year lease?

What does "fully furnished" mean?

Can a real estate agent schedule a viewing?

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Can foreigners rent condo in Singapore?

Foreigners can rent either an entire apartment or just a room, sharing the unit with other tenants.

How do I rent a place in Singapore?

Steps to renting a home in SingaporeView the properties. ... Send the Letter of Intent (LOI) with a good faith deposit, when you settle on the unit you like. ... Pay the rental stamp duty. ... Check and sign the Tenancy Agreement (TA). ... Take pictures of everything on the inventory list, especially things that are already damaged.More items...•

Can you rent a condo?

Yes, you can - but there are rules landlords must adhere to in order to generate potential rental income. Condos have their own additional rules landlords must follow to maintain property values and serve the community's best interests.

Can I rent out my condo without agent?

Because you own a private property or condo, you're free to rent it out (in whole or in part) without any government approval. However, you're still subject to certain stipulations.

What is average Singapore rent?

Housing & Accommodation Cost in SingaporeRent in SingaporeAverage Monthly CostOne bedroom apartment (city)2,700- 3,000 SGD1,50,000- 1,65,000 INROne bedroom apartment (outside of city)1,900- 2,200 SGD1,04,000- 1,21,000 INR

What is the minimum rental period in Singapore?

Rental period You must rent an HDB flat/ bedroom for at least 6 months. Owners can apply to rent out flat/ bedrooms for a maximum period of 3 years per application if their tenants are all Singaporeans or Malaysians.

How do I rent a condo unit?

How to rent a condo: 12 tipsCreate a list of what you need and want. This narrows your search. ... Avoid online scams. ... Visit the place at different times. ... When possible, deal directly with the owner. ... Read all documentation. ... Know your state and local laws. ... Check your lease for insurance requirements. ... Ask questions.More items...

Which is better condo or apartment?

If you're looking for a range of amenities, a condo might be a better option for you. No equity – If you're renting an apartment, you're not building equity in your own home like you would if you owned a condo. When you rent, you're helping build your landlord's equity instead.

Whats the difference between an apartment and a condo?

What's the difference between a condo and an apartment? A condo is a unit owned by an individual, who either lives in the unit or leases it out. An apartment is a unit in a building that is owned by a landlord. The landlord owns the entire residential building and leases individual units to residents.

How do I become a landlord in Singapore?

Being a landlord for the first time: Tips for new landlords in SingaporeHow much can you charge?Know your potential tenants.Screen your potential tenants.Know Singapore's housing laws.Put everything down in writing.Special conditions for expat tenants.Conduct an inventory check.Specify the method of rent payment.More items...•

Can I rent out my HDB and stay in condo?

If you own a HDB and a condo, you can rent out either one or stay in both properties. In my opinion, I would suggest that you live in the condo to enjoy the lifestyle living while renting out your HDB. HDB rental yields are much higher as compared to a condo.

Is subletting condo legal in Singapore?

Is subletting private property legal in Singapore? The short answer to the question is yes, but with conditions. Since June 2017, the Urban Redevelopment Authority (URA) mandated that all rental leases must last for a minimum of three consecutive months.

What is the procedure for renting a house?

Step 1 – Look for a property to rent. ... Step 2 – Conduct viewings. ... Step 3 – Decide on a letting agent. ... Step 4 – Make an offer. ... Step 5 – Tenant Referencing. ... Step 6 – Pay Tenancy Deposits. ... Step 7 – Sign the Tenancy Agreement. ... Step 8 – Documents and Inventory.More items...•

How much is a rental deposit?

How much can a landlord ask for? A tenancy deposit cannot usually be more than 5 weeks' rent.

How do I become a landlord in Singapore?

Being a landlord for the first time: Tips for new landlords in SingaporeHow much can you charge?Know your potential tenants.Screen your potential tenants.Know Singapore's housing laws.Put everything down in writing.Special conditions for expat tenants.Conduct an inventory check.Specify the method of rent payment.More items...•

What to consider in renting an apartment?

Factors to Consider Before Renting an ApartmentLocation, Location, Location.Total Costs.Convenience.Kitchens and Bathrooms.Furniture Considerations.Must-Have Features and Amenities.Pets.Parking.

Condo & Apartment For Rent, 2 Bedrooms in Singapore - PropertyGuru

There are 1,810 condos & apartments For Rent, 2 Bedrooms, you can use our elegant property search tool to find the right rental properties with detailed information , including maps and photos.The options in our database is limitless.

Private Apartment for rent in Singapore | iProperty.com.sg

Sea Pavilion Residences. Blk 494, Upper East Coast Road, 466522

7203 Condos & Apartments for Rent in Singapore | PropertyGuru

7203 Condos for rent in Singapore. Find studios, 1 / 2 / 3 / 4 / 5+ bedroom apartments, condos, executive condos for rent @PropertyGuru Singapore.

6 Steps for Foreigners to Rent a Condo in Singapore 2021

Living in a new place is very exciting – new things, places, and people you meet and adventures you get to experience. But how do you get started?

6 Steps for foreigners renting a condo in Singapore

You may choose to live near your workplace for convenience, and there are multiple factors to consider such as nearby MRT stations, bus stops, shopping centres, hawker centres, and recreational facilities. Ohmyhome’s property portal provides a quick and hassle-free way to search for properties.

Need help finding a place to rent?

Our in-house agents can help source for a place to rent or purchase. For more information you can visit our FAQ or learn more how the Ohmyhome app works.

Ohmyhome

Excited by the prospect of enjoying condo facilities within your reach, 24/7? Renting a condo is a popular choice for home searchers and with good reason! Forget condo staples such as swimming pools and gyms, these days you’ll find more imaginative facilities such as sprawling clubhouses with exciting entertainment areas for your next party and even a rejuvenating Himalayan Salt Room plus spas in more holistic developments..

Rent a Condo with Ohmyhome

Enjoy Ohmyhome’s world-class Condo Tenant Agent Service! Experience exceptional speed and dedicated customer service with our tried-and-tested formula: innovative Proptech combined with the excellent teamwork of our real estate consultants, customer care, and technical support teams. Book a consultation with us now!

How to rent out a condo?

7 Steps to Rent Out Your Condo. Step 1: Check your eligibility. Step 2: Calculate your costs. Step 3: Determine your pricing. Step 4: List your property. Step 5: Conduct viewings. Step 6: Wait for a suitable offer. Step 7: Background check, LOI, Good Faith Deposit, etc. You probably already know this, but as the owner of a private property, ...

When to conduct multiple viewings?

Conduct viewings in the morning or evening, when it’s not too hot. If you’re conducting multiple viewings in a single day, make sure to schedule enough time in between. You don’t want to rush your tenants through the process. Make sure you’re well-dressed.

Can you use the gym in a condo?

If you’re staying in the condo and paying this fee, you’ll get access to facilities such as the gym, pool, etc. But now that you’re renting your condo out, you’re not allowed to use the facilities anymore. This means that you might choose to buy a gym membership that costs you $100 per month.

Do domestic caregivers have to be part of the same family unit?

This applies to all persons residing within your home, as long as they’re not part of the same family unit. That said, domestic caregivers who are hired by your family are considered part of the same family unit and therefore not subject to the rule. Step 2: Calculate your costs.

Can you rent a condo without government approval?

Because you own a private property or condo, you’re free to rent it out (in whole or in part) without any government approval. However, you’re still subject to certain stipulations. Firstly, you mustn’t rent your condo out for less than 3 months at a time (this means Airbnb is a no-go).

What to ask for prior to key handover?

For precaution, ask for an inventory record of the contents of the condo prior to key handover, which has been signed and vetted by you. Note the condition of existing items and furniture to avoid the risk of forfeiting your security deposit at the end of your lease.

What is a TA in a tenancy agreement?

The Tenancy Agreement (TA) will be drawn up once all the details are agreed upon. Make sure you closely go through it and ask anything that doesn’t seem right to you or you don’t understand. The TA should include details of what monies need to be paid and when, everyone’s contact details, details of termination clauses, duration of the tenancy, and who is responsible for what maintenance costs.

How long is the warranty on a rental unit?

From the move-in date, there will be a one-month warranty period.

What is a LOI in a rental agreement?

Once you are sure of your new resting place, it is time to chope the area by drafting a Letter of Intent (LOI), a document that states a tenant’s interest in renting. Make sure to include all terms and conditions discussed in the LOI, particularly if you have negotiated for any extra stuff, such as whether guests are allowed or additional furniture to be provided.

How much is a security deposit for a 2 year lease?

A standard security deposit for a 2-year lease is often equivalent to 2 months’ rent , so it is often a reasonably large sum of money. Singapore can be a bit traditional at times, and you will usually have to pay this payment by cheque.

What does "fully furnished" mean?

This means the house, apartment, room, or unit comes with a complete set of furniture, white goods (e.g. washing machine, refrigerator), and appliances (e.g. microwave, television, oven).

Can a real estate agent schedule a viewing?

Once you have got your reliable real estate agent on board, they can now initiate scheduling viewings for you. They can coordinate with the different owner’s agents and get appointments arranged at times that fit you.