The Complete Guide to Renting an Apartment in SingaporeSingapore Property - Real Estate
5 minutes read
(Guest Writer: Adrian Lomezzo)
Singapore is one of the most attractive cities in the world. Whether you are in business or sent to work in the city by your employer, Singapore will meet and exceed your expectations. Because of its metropolitan nature, Singapore is welcoming. The city has also simplified the process of renting apartments to make it easier for visitors to settle.
Considerations when renting an apartment in Singapore are almost similar to the rest of the world. However, there are unique requirements for people renting in Singapore.
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Here is a complete guide to renting apartments in Singapore.
Determine What You Need
Singapore has one of the most dynamic real estate industries in major cities. The industry offers apartment options for single people, couples, families, and any other arrangement you may want for your accommodation. It means that you can get any kind of apartment you will want.
Do you want a single dwelling unit or are you coming to live with your family? Do you want to live with colleagues and share amenities? All these options are available. It is up to you to choose the best kind of apartment for you.
Set a Budget
How much do you want to spend on the apartment? Since Singapore hosts people from all walks of life, you are sure to get an apartment at a reasonable price. With a budget in mind, you will know the kind of apartment to rent.
The price of renting an apartment depends on several factors, including the amenities it provides, the size, and the location of the building. Choose a fairly priced apartment so that you can enjoy value for your money and avoid straining while paying or compromising your opportunities by living in an inappropriate place.
Choose a Location
Singapore has all the types of apartments you would desire. It is up to you to select the perfect location based on your work requirements and personal preferences. The right location will make it easier to get to your business or office. A scenic location will be an advantage because it will add to your peace of mind.
The choice of location comes with other repercussions. For instance, the price of two apartments with the same amenities will differ just because of location.
Apartments in posh neighbourhoods are more expensive than those in suburbs. The choice of an apartment is, therefore, a balancing act between location, price, and the amenities it offers.
Check Listed Apartments
Since you know what you want, have a budget, and have identified preferred locations, it is time to check what the market has to offer. Real estate players have listed numerous apartments on their websites and other advertising platforms. Check the apartments on offer and ascertain whether the amenities on offer match your expectations.
A good listing website gives you a chance to compare prices and the features of each apartment. For this reason, you have the chance to make the most fitting choice and shortlist the top apartments before making the ultimate choice.
Listing websites also provide pictures and videos that will help you to make a choice. Further, there are reviews by other clients that will give you an idea of what to expect from an apartment or an agent.
Visit the Apartment
Set aside a day to visit the apartments you would wish to rent. The visit should come after shortlisting a few of them that have met your desired standards. The purpose of visiting the apartment is to ascertain that the features advertised are similar to what is actually on the ground.
Communicate with estate managers or caretakers appointed for these apartments. You will get a viewing date and time where the managers are present to address any concern that may arise.
Use the opportunity to look out for any anomalies that may not be captured in advertisement photos. It is also a chance to see the surroundings and test whether the location is convenient for your daily activities.
Review Contract Agreement
Every tenant is required to sign an agreement with the landlord or letting agent stipulating how much to pay each month, how to make the payments, and what the payment will cover. The agreement legalizes your stay in the apartment. It will protect you in case of eviction or unfair treatment while renting the apartment.
Most contracts are straightforward and might not require interpretation by a lawyer. However, in case you feel that there are sections that you might not understand, it is advisable to review the contract with an attorney before signing.
Keep a copy of the signed contract, just in case a dispute arises.
Prepare Your Documents
Letting agents and landlords are required to ascertain the identity of people living within their quarters. The exercise is done by reviewing identification documents before signing the tenancy agreement. For this reason, you should prepare your original documents for verification.
You may be asked to provide copies of the same documents for recording purposes. Some of the documents may require authentication by a notary of the public or advocate. Prepare them in advance to avoid delays in processing your rent agreement.
Pay Required Amounts
You must make an advance payment to rent an apartment in Singapore. The first payment is considered a deposit that is refundable when vacating the apartment. It cushions the landlord in case you cannot pay yet would like to vacate the room.
The amount and what it covers is always indicated in the contract. Clear the amount and obtain necessary receipts to enable you to lay claim to the apartment.
Move into the Apartment
Having secured the apartment, it is time to move in. The occupancy date is always indicated in the receipts issued once you make necessary payments. Enjoy your stay and the fantastic life in Singapore.
Singapore is welcoming to strangers and locals. It has all types of apartments imaginable at affordable prices. Choose a convenient apartment according to your needs, preferences, and budget.
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