Review Tenancy Agreement: Carefully examine the signed tenancy agreement.
Correct Deposit Amount: If the agreement explicitly states a 2-month security deposit, you have grounds to address the discrepancy with the agent.
Incorrect Deposit Amount: If the agreement mentions only a 1-month security deposit, unfortunately, it weakens your position for demanding the additional month's deposit.
Contact the Agent:
Clarify the Mistake: Contact the agent and explain the discrepancy between standard practice (2 months' security deposit) and the actual amount received.
Seek a Solution: Depending on the agreement, you can discuss solutions with the agent:
If agreement states 2 months: Request the agent to collect the additional month's security deposit from the tenants. The agent might need to explain the error to the tenants and negotiate collection.
If agreement states 1 month: While less ideal, you might have to accept the situation. However, you can still emphasize the importance of responsible tenancy to the tenants, ensuring they understand your expectations for maintaining the property.
Future Reference: For future tenancies, ensure the tenancy agreement clearly states the required security deposit amount (2 months' rent) before signing with the agent or tenants.
Additional Tips:
Consider Legal Advice: If the agent is unresponsive or the situation escalates, consider consulting a property lawyer for specific guidance based on your tenancy agreement and Singaporean tenancy laws.
Professional Reputation: Letting the agent know you're concerned about their professional reputation for adhering to standard practices might encourage them to find a solution.
By following these steps and having a clear communication with the agent, you can try to rectify the situation and ensure proper security deposit collection in the future.
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