Hi Damon,
Welcome to Singapore. Some potential pointers you need to take note of when renting in Singapore:
1) Security Deposit for rental is payable at 1 month rent for every 1 year rent you intend to take. Meaning if you are renting for 2 years straight, then the Security Deposit payable is 2 months.
2) Monthly rental is to be paid in advanced on a monthly basis. All rental payment and deposit payment is to be paid to the landlord's account. Therefore you need to verify the identity of the landlord and ensure that you are paying into the right account.
3) Stamp fees is payable by tenant on the Tenancy Agreement, and is usually calculated as 0.4% of the total rent amount in the agreement.
4) Tenant will need to apply for their own utilities account (water, electricity, gas, internet). The suppliers will bill the tenant on monthly basis and Tenant can make arrangements to pay the bills via Internet Banking or the various online system available.
5) Agent fees will be applicable if you engage the services of an agent to help you with securing the rental. The fees is applicable at 0.5 month rent for every 1 year lease you sign and 8% GST can be applicable on this amount. (Take note that GST will be increased next year).
Hope the above helps. I have an experience team of consultants who are helping new Singapore expats like yourself settling into Singapore and if you like to engage the services of an agent, we are in good position to assist further.
I have been in the real estate business since 2009, with more than 13 years of experience serving the Singapore real estate market.
I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.
Over the years, I have also established a network reaching out to more than 9,400 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.
With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.
We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!
Warmest regards,
Geryl Lim
Associate Group Director
Salesperson Registration No. R014783H
Email: geryl.lim@orangetee.com / geryl7772@gmail.com
OrangeTee & Tie Pte Ltd 430 Lorong 6 Toa Payoh #01-01 OrangeTee Building Singapore 319402
Estate Agent Licence No. L3009250K
+65 92787772
www.geryllim.com
My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0
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Note: We value your home as much as you do! Find out the indicative value of your home at http://bit.ly/UrHomeMatters and get monthly update on your home value. Restructure your portfolio with us, speak to us!
Tenants can visit http://bit.ly/SGExpatRental (Official Rental Requirements - Singapore Expatriates) to indicate your rental requirements.
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