USING A PROPERTY AGENT
Renting property in Singapore gives expats the opportunity to live in a comfortable housing unit when in the country. Whether you are looking to get a HDB for rent or a rental house in Singapore, it is important to follow a few steps in order to make this a smooth transition. One of the first things you will need to do is use a property agent. This is a professional who will guide you through the property acquisition process as well as being the person who works out and organizes your agreement.
MAKING AN OFFER
When using an agent and find the ideal property you want you will then need to make an offer. This is the process in which you offer the property owner the rental terms and amount you are looking to pay. The offer will show the landlord that you are serious about renting a property and are looking to give them what they want in terms of rental compensation. By making a good offer you will increase your chances of getting it accepted and then be able to move to the next steps in the process.
SUBMITTING LETTER OF INTENT
The next step you will need to take when renting property in Singapore is to submit a letter of intent. This is a document in which you express your intention to rent the property at and agree upon rate and for a certain period of time. In the letter of intent you will clearly state the length of your stay as well as how much you are willing to pay each month to live in a particular rental housing unit.
SIGNING TENANTS AGREEMENT
After submitting the letter of intent you will then need to sign the tenant’s agreement. This document is a legal contract in which you sign a paper stating that you will stay in the unit for a specified amount of time as well as pay the agreed upon rate.
Expats looking to rent property in Singapore will then need to pay the agent commission as compensation for getting the rental agreement successfully completed. Then there is stamp duty where the tenants agreement is stamped by the Inland Revenue Authority which provides legal recognition of the rental agreement. Once stamp duty is done then the tenant can move into the property and begin living in it. Renting property in Singapore is a lengthy process but if you follow these steps you will be able to make renting property in Singapore a smooth transition as an expat.