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Private Properties Rental Step-By-Step

STEP 1   Engage a good agent
  • Real Estate Agent will help you in the following ways:
    1. Advise you on the current market trends and walk you through the selling or buying procedure and legalities.
    2. Marketing of properties, conducting of open houses, publicising the property in traditional and online media or search for tenant’s desired properties.
    3. Acting as an intermediary in negotiations between Landlords and Tenants.
  • After you have found a licensed agent, it is mandatory to sign a CEA Agreement before the agent can represent you.
  • Team Marshe are professional agents from renowned international property agency DTZ.
  • We even help our clients on various issues from minor repairs to handing and taking over rental properties when owners are not in town.
  • Contact us to find out more.
STEP 2   Evaluate and Plan
    1. Decide how much do you want to charge for the rent. You can check on popular property search portals like Propertyguru or call a property agent. Call Team Marshe and we will provide you with a detailed report with the latest rental information.
    2. Decide the rental period, choice of tenants, furnishing and earliest commencement date.
    1. Determine your rental budget you want to set for your new home. The housing budget will largely predetermine the type and location of housings you will be able to afford.
    2. Choosing the right location. Check out the nearest MRT station, bus stops or schools.
    3. Any special needs or wants?
STEP 3   Start Marketing or Search for Property
    1. Stage and show your property.
    2. Clean and tidy up the property. If the property is currently tenanted, you must give some time allowance to touch up and clean up the premises after the current tenant leaves before the start of the next tenancy.
    3. Be flexible with viewings. Entrust a set of keys to a trustworthy agent for viewings will save you many many trips.
    1. Your agent will preselect a list of properties that will meet your requirement.
    2. Round of viewings will be arranged to show you the pre-selected properties including the immediate vicinities and surroundings.
    3. Subsequent viewings can also be arranged to confirm final choices.
STEP 4   Negotiations and Closings
  • Once the Tenant has finally decided on his choice of property, the Tenant’s Agent will then proceed to negotiate the rental terms with the Landlord or his Agent.
  • If the Tenant’s offer is being accepted, the Tenant will need to prepare the following items to confirm the tenancy:

    - A photocopy of the Tenant’s NRIC or Passport
    - A photocopy of Tenant’s Employment Pass or Work Permt
    - One month's rental as the good faith deposit
  • The Tenant’s Agent will then prepare the Letter Of Intent (LOI) proposing Tenant’s intention and requirements to the Landlord.
  • The LOI will be presented to the Landlord to sign and return to the Tenant. In exchange, the Landlord will receive the good faith deposit.
  • After the LOI is duly signed. The Landlord or his agent will prepare the Tenancy Agreement (TA), the official document for the tenancy.
STEP 5   Documentation and Payments
  • The names, passport or NRIC No and corresponding addresses of both Landlord and Tenant should be in the Tenancy agreement (TA).
  • The Landlord must check to ensure the validity of the Employment Pass or Work Permit of all the Tenants.
  • Term of Tenancy is usually 1 or 2 years.
  • Clearly specify the amount of Rent and mode of subsequent monthly payments.
  • Security Deposit is usually one month's rent for every year of lease, payable upon signing of the TA. When the lease term ends, the security deposit will be refunded without interest. However, the landlord reserves the right to deduct from the deposit all costs, damages and expenses arising from the tenant for breaching any of the covenants stated in the TA.
  • The Tenancy Agreement has to be stamped by the Inland Revenue Authority of Singapore and the cost is borne by the Tenant.
STEP 6   Handing and Taking over of Premises
  • The Landlord or his agent will prepare an Inventory List on or before the day of handing over.
  • Check off the items listed in the inventory. Check all electrical appliances, air-con, lightings, water heater etc to ensure that they are in good working condition.
  • If there is anything not working or working unsatisfactory, note it down on the inventory list. Allow the Landlord or his workmen to rectify the defects within a reasonable period. Usually there is a one-month defects free period that if anything is not working within the first month, it will be under the Landlord’s charge to repair and rectify.
  • The Tenant turn on the utilities by this day under his account.

For enquiries, call +65 8666 6944

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