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Guide and Tips for Tenants ..
Engage a professional Realtor
Being a local Real Estate Consultant in Singapore
specalising in Sentosa Cove Homes, we will be in a better position to recommend
you a suitable property meeting your varied needs at the same time securing the
best offer for you.
We regularly provide an updated list of comprehensive property listings here on
this site online. Besides, we also access or share the same database of property
listings in Singapore used by most property companies.
Our Services
Through consultation and discussions and we 'll be able to understand your
relocation requirement and expectations and we endeavor to meet these needs to
the best of our abilities.
Our services cover recommending the selection of Properties, house inspections,
tenancy negotiation to the final taking over and moving in to the premises. We
will assist to ensure that all Tenancy documentation are in order and you are
signing and dealing with the rightful owners of the property you selected.
It is our mission to ensure that every part of the Relocation process is well
taken care of making the Tenant relocation real Easy and Hassle-free.
Do send us an
email or call us at +65 62727
800 if you would like to engage OneSentosa.com to do the search and
recommendation for you.
Decide
your needs and make your wish list for your home away from HOME.
Beside choosing the exclusive premier location in
Sentosa Cove, you may want to determine the type of housing you need. Ask
yourself ...
Is it a landed villas or an apartment or penthouse
that you need?
2, 3 or 4 or more bedrooms ?
Specific type of condo Facilities you desired, eg. private berth, lap pools etc
?
Focus on the features you want in your new home and knowing what you're looking
for will help you to focus your search.
Note: Rental Price - budgeting yourself will also
evaluate what are the type of apartments or houses that are suitable for you.
Once
you have decided on take up a property, to do the rental documentation, you
would need to prepare the following:
-
Photocopied passport / IC
-
Photocopied employment pass (if required)
-
One month's rental for the goodfaith deposit
We will then prepare the necessary documents for
you such as the Letter of Intent ( LOI )and Tenancy Agreement.
A) Letter of Intent ( LOI )
The Letter of Intent is a document stating your
intention to lease the premises and your proposed requirements to the landlord.
It normally include the following clauses:
1.
Goodfaith Deposit
This is the booking deposit, usually equal to one
month's rent to confirm the booking of the proposed Tenancy. After the landlord
signed the Letter of Intent and accept this deposit, he cannot rent the property
to other party. This deposit will become part of the security deposit or advance
rental after the Tenancy Agreement is signed.
2.
Security Deposit
The amount of the security deposit is usually
stated in the Letter or Intent. The market practice in Singapore is usually one
month's rent for every year of lease. It will only be payable upon signing of
the Tenancy Agreement. When the term of the lease ends, the deposit will be
refunded without interest. However, the landlord reserves the right to deduct
from the deposit all reasonable costs and expenses arising from the tenant for
breaching any of the covenants stated in the Tenancy Agreement.
3.
Term of Lease
The standard average lease period is usually 2
year, with an option to renew the lease for another 1 year. For the lease
renewal option, the landlord would normally require that you give 2 or 3 months'
advance notice of your intention to renew. Most landlords will not accept leases
that are less than 1 year.
4.
Diplomatic Clause
This clause is to protect the Tenant in the event
that he is no longer employed and or need to be transferred to other countries
midway through the Tenancy period. With the clause, he can terminate the lease
after 12 months by giving 2 months notice and the security deposit will be
refunded. The market practice is that most landlords will only include the
diplomatic clause if the lease is more than a year.
5. Your other Requirements
Ensure that all your requests and requirements are
stated in the Letter of Intent. Once the landlord had agreed and signed on the
Letter of Intent, he is bound by the agreement to accede to your requests.
Partially furnished apartments or house
usually only comes with basic furnishing such as curtains and lightings.
Although the house may be partially furnished at the time of viewing, you can
always request the landlord to fully furnish it or request him to get certain
items that you need.
Fully Furnished tenancy means the apartment
or house you are renting include basic furnishing mentioned above plus all the
main furniture and the essential electric appliances such as refrigerator,
washer and dryer.
The level of furnishing required are always
negotiable on a case to case basis and it eventually determine the final rental
amount.
B)
Tenancy Agreement
After the Letter of Intent is duly signed, the
landlord or the agent will proceed to prepare the Tenancy Agreement.
The prospective tenant will need to prepare the
rest of the security deposit and advance rental upon signing of the Tenancy
Agreement minus the goodfaith deposit paid earlier.
For 1 year lease - 1 month's security deposit and
1 month's advance rental.
For 2 years lease - 2 month's security deposit and
1 month's advance rental.
Important Clauses to take note when signing the
Tenancy Agreement are:
1. Diplomatic and Reimbursement Clause
As mentioned above, this clause is to protect the
Tenant in the event that he is no longer employed and or need to be transferred
to other countries midway through the Tenancy period. With the clause, he can
terminate the lease after leasing for 12 months by giving 2 months notice and
the security deposit will be refunded. The market practice is that most
landlords will only include the diplomatic clause if the lease is more than a
year.
In a typical Tenancy Agreement, there is usually
the reimbursement clause together with the diplomatic clause. This clause states
that if the tenant exercise the diplomatic clause, he will have to reimburse
part of the commission the landlord had paid to his agent. Since landlord grants
the diplomatic clause, he would normally ask for the reimbursement clause to be
included in the tenancy agreement.
2. Public Utilities, Telephone and Cable
Television
The installation charges and the monthly bills for
the following services are under the Tenant's responsibility:
-
SP Services - the water and electricity supply
-
City gas - piped gas in selected areas ( if
applicable )
-
Singapore Telecom- residential telephone line
-
Starhub Cable Vision (SCV) - cable TV and
broadband internet access
3. Maintenance and Repairs
The Tenant is responsible for maintaining the
premise and carry out minor repairs at his own costs. In a standard Tenancy
Agreement, the tenant will only be responsible if the amount of the repair does
not exceed S$100 or up to S$300 depending on the type of apartment or houses.
Major repairs fall under the Landlord's
responsibility provided that the damage or malfunction of appliances is not
caused by the tenant's negligence.
The Tenant will have to take up service contract
for items such as air-conditioning, gardening, pest control or pool servicing if
applicable.
4.
Term of Lease and Option to renewal
The standard lease period is 2 year with an option to renew the lease for 1 year
subject to an adjusted rental to be agreed upon.
5. Stamp Duty
In Singapore, Tenancy Agreement will need to be
stamped by the Inland Revenue Authority of Singapore. Only after the Tenancy is
stamped then it can be considered a valid contract as evidence in court for any
disputes that may arise in the future with your landlord. This is to protect the
interest of both parties. The stamp duty is usually borne by the tenant.
Computation of the stamp duty fee:
|
ONE YEAR LEASE
OR LESS |
|
(rental
amount x 12)
250 |
then round up to
the
nearest dollar
plus |
+ $2 for
duplicate copy |
|
MORE THAN ONE
YEAR to THREE
YEARS LEASE |
|
(rental
amount x 12)
250 |
then round up to
the nearest
dollar then
multiply by 2
plus |
+ $2 for
duplicate copy |
|
MORE THAN THREE
YEARS LEASE |
|
(rental
amount x 12)
250 |
then round up to
the nearest
dollar then
multiply by 4
plus |
+ $2 for
duplicate copy |
We will assist the landlord will prepare an
Inventory List on or before
the day of handing over.
Check the items listed in
the inventory. Make sure all
electrical appliances,
air-con, lightings, water
heater etc are in good
working condition.
If there is anything that is
unsatisfactory, note it down
on the inventory. The landlord
will then rectify it within
a reasonable period to the
Tenant's satisfaction .
Depending
on the duration of the
lease, the typical commission
payable to the Property
agent is :
Half a month's rent for
one-year lease and
One
month's rent for two-year
lease.
Do send us an
email or call us at
+65 62727 800 if you
need any assistance or
clarification on the above.
You may also contact us by
filling up the
simple form here.
For more information
on our services ,
Please
feel free to call us at (65) 62727 800 or drop us an
email .
Our property consultant will get in touch with you to assist you.
Thank you ! |