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As a tenant, am I supposed to hand in a cheque (good faith deposit - which would serve as 1st month rental) together with the LOI? Is this good faith deposit refundable if landlord decides not to lease? Also, do I only submit a cheque for the security deposit once landlord and I sign on the TA? Please advise on the proper procedure. Thanks!
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4 Answers

Hi, yes in order to secure the unit, the deposit and LOI must be handed to the landlord first. And if the landlord changes his or her mind not to rent or reject you due to the tenant profile or whatever reason, your cheque would be refunded back to you.

Regards
Aaron
 9730 8455 
aaronchong2774@yahoo.com.sg Read More
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You are right in the procedure mentioned, unfortunately, there are many tenants and salesperson insisting on doing things the shortcut way which does not serve interest to both landlord and tenants, whichever party they are representing.

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Hi friend,

What fellow agent friends have replied to you are exactly correct.

I am curious though, are you doing this on your own ? or have this been related to you by YOUR AGENT, or the Landlord's agent BUT you do not believe him ?

I am guessing you do not have an agent to represent you.

It is good to have one of your own who can guide you through the whole process AND more importantly, look after your interests at every step of the process.

regards

Steven Wang
Edmund Tie & Co Property Network Pte Ltd
khim.wang28@gmail.com
 9169 5023  Read More
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GAN ENG JOO ONASSIS
Dear Tenant,

Re: Today’s SG Professional Choice- SGAgent.com & SGRealtor.com

No worries, if rejected your lease offer. You will receive your cheque or any mode of payment you issued.

I am contactable at 92222389  or onassis@sgagent.com / sgrealtor.com

In all Areas of Singapore. Sale/Buy/Lease/Rent, Please call and/or drop me an email me. I’m always at your Services.

Onassis Gan | R021244C | Today’s SG Professional l SGAgent.com & SGRealtor.com

EXPERIENCED. PROACTIVE. SINCERITY. FEEDBACK
ACTA (Full); PDCE (Singapore); MSc BIT(Middlesex); BBA (South Australia)

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I pledge myself to maintain honesty and uphold integrity, to pursue my profession and education so that I may provide my clients with outstanding services. Read More
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