What are the rules may easy to break when renting a house and moving in Singapore?
Friends living in Singapore may feel the same: life in Singapore is not that expensive? When it comes to living costs, we have to talk about food, clothing, housing and transportation. Clothing and food in Singapore are really not expensive, and even we often think that the clothes and food here are actually much cheaper than many big cities in China. As for travel, if you don’t want to buy a private car, Singapore’s public transportation is also within the acceptable range. Because what everyone is most concerned about is ‘living’. Today, we will not talk about those rich people who come to Singapore to buy apartments and villas.
Today, we will focus on renting in Singapore, as well as the various renting pits that can only be learned through blood lessons and experience.
1. Various rental laws and regulations
The Singapore Housing Development Board has various strict legal regulations for tenants and tenants
. If you do not understand these terms, you may face strict legal penalties. First of all, the HDB can only be rented out as a whole, and the minimum lease period must be more than 6 months.
This means that as tenants, we can only rent the whole set for more than 6 months,
and cannot rent out a single room as a second landlord. In addition, the Singapore Housing Authority also stipulates that wp holders (except Malaysians) cannot rent entire HDB flats. If you choose to rent an apartment, although the price is higher, the minimum rental period can be 3 months or more. This means that once we decide to rent, we won’t be able to move for at least three months. The reality is that the average landlord will require the tenant to sign a 1-year or 2-year lease.
2. Looking for an intermediary VS not looking for an intermediary
Most of the small partners may have faced such a dilemma when renting in Singapore. Should they find a real estate agent or directly find the owner to rent a house? Below we will give you a comparison of the pros and cons of these two options as a tenant:
However, no matter which one you choose, it is important to note that a 1-year lease is generally signed. Many small partners think that if they need to move out before the lease term expires, they only need to lose the deposit. But the actual situation is not the case. If the tenant wants to move out before the lease expires, the tenant needs to seek the consent of the landlord, and find a new tenant to bear the unfinished part of the lease, otherwise the landlord has the right to ask the tenant to make up all the rent. . That is to say, if the friends decide to move out after 2 months of signing the contract, it is very likely that they need to continue to make up the remaining 10 months of rent to the owner or intermediary.
3. Various Hidden Costs Before renting a house
Most of my friends may be the same as me thinking that renting a house is just rent and deposit, plus a water and electricity fee at most. I didn’t realize it until I rented it myself.
Of course, these are not including rent, various furniture and moving expenses, so Singapore is rated as the country with the highest cost of living in the world.ht to ask the tenant to make up all the rent. . That is to say, if the friends decide to move out after 2 months of signing the contract, it is very likely that they need to continue to make up the remaining 10 months of rent to the owner or intermediary.
4.Stamp duty
In simple terms, rental stamp duty is the same as buyer’s stamp duty, and it is a proof of the legalization of the contract between the tenant and the landlord (to ensure that if there is a dispute in the future, only the tenancy agreement that has paid the stamp duty will be legally recognized).
Within 14 days of signing the contract between the landlord and tenant, the tenant will be required to pay a fee equal to 0.4% of the rent. (Example: renting an HDB flat with a rent of 2,000 for one year, the rent required in that year is 24,000 Singapore dollars, and the stamp duty to be paid is 0.4% of 24,000 = 96 Singapore dollars / year. )
This fee is usually collected by the agent and paid on behalf of the tenant. If you are unsure, you can also pay it yourself through the tax office’s website (delayed payment may result in a penalty).
I hope that after reading today’s content, everyone will take less detours in the matter of renting, and avoid more unnecessary losses caused by future problems.
By Move Move Movers
