Nowadays is easy to search online for rental property, but as a tenant especially when you are a foreigner, it is always a challenge to ensure things are right from before starting the lease till the end of the tenancy.
Some factors you must seriously consider when renting a property in Singapore.
3 stages in the renting process
Pre-renting
Letter of Intent to lease the property
• Why is the letter of intent (LOI) important?
• How to prepare the letter of intent?
Ownership proof
• How to check the ownership of the rental property?
• Do all owners consent to the lease?
Approval by mortgagee
• Is the mortgagee consent to the lease?
• What happened upon the bank’s foreclosure?
Approval from authority to rent out the property
• How to ensure the landlord obtained approval from the authority/HDB to rent out the property?
Booking deposit
• If I do not agree with the terms of the tenancy agreement, can I get back my initial booking deposit?
During lease
• What is the tenant’s right?
• What are the tenant’s implied covenants?
• Can I terminate the lease agreement prematurely?
• What can I do if the landlord refuses to carry out the repair of the defective items in the property?
Upon expiry of the lease
• How to resolve disputes with the landlord regarding the condition of the property during handover?
• When is the responsibility as a tenant end?
Most of the time issues arise due to lack of proper documentation and inexperience to handle situations in the renting process, therefore we provide a tenant service package to ensure peace of mind when you are renting a property in Singapore.
