If you buy a private condominium on or after 11 Mar 17 you are subjected to a Seller Stamp Duty when you sell within the first 3 years regardless of whether its a new or resale unit.
If you rent out the whole condominium, the general practice for security deposit will be 1 month rent for a year lease and 2 months rent for 2 years lease.
Tenant will likely pay for utilities and maintenance will be bore by Landlord.
Having said, do note that these are general practices and may varies with individual leases as everything is negotiable.
Should you have further question, you may write to firstname.lastname@example.org
Gavin Read More
Based on your enquiry, Im assumming that you are considering a purchase for investment and renting out.
If this is the scenario, do take note of the 7%ABSD and 3%BSD.
You need to hold at least 3 years to avoid seller stamp duty.
Another important factor is the financing portion
If you still have outstanding property loan.
2nd loan can only get 50% and 25% cash upfront.
Should you have other questions, please do not hesistate to contact me.
+65 9029 4371
Www.shawnchew.com Read More
There are 3 questions I read from your query:
(1) Holding period:
Both resale or new condo are private property, thus no laws, rules or regulations to prohibit you from selling.
Only IRAS will impose a Seller Stamp Duty if you sell a real estate (property) within 3 years (12/8/4%).
(2) How much shall a tenant provide as a deposit:
1 month for 1 year lease
2 month for 2 year lease
(3) Fees involved:
Items Tenant has to take care off:
PUB bill / Wi-Fi / Cleaning / Aircon servicing / Maintenance of Electrical appliances.
All the above usually kept at a fixed amount; e.g. $150 & below per item under tenant. Something similar to car insurance access.
Condo maintenance fee (MCST)
It is advisable to provide essential items in a condo for leasing, such as bed, sofa, dining table, chair, washing machine & fridg etc.
Anything less will be under expectation of potential tenant.
Hope the above answer to your main concerns, but if there are more queries, please feel free to contact me at 90110636 , or email: email@example.com if more information is needed.
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For new or resale condo, you will have to hold for at least 3 years before you can sell so as not to incur Seller's Stamp Duty (SSD). However, if the price were to run up, you can sell anytime as long as you are satisfied with the upside gain.
For rental, the amount of security deposit is dependent on the lease period, the market practice is every 1 month rental for 1 year lease. However, some landlord will request for a higher deposit in certain cases.
The maintenance fees will be borne by the owner whereas the tenants pay for the utilities.
Please feel free to contact me so that I can share with you some projects which has good rental returns and most importantly very good upside potential!
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