Factors Involved In Renting A Room In Singapore

Finding rooms for rent in Singapore can be challenging

, what with the multiple options on offer. Depending on personal preferences, there are several factors that one needs to take into account while considering rooms for rent:

space

amenities

locality

duration of lease

the type of room they want to rent

budget

proximity to work, shopping options

kind of furnishing etc.

Offer to rent letter

Once youve finalized the place you want after looking at different options in rooms for rent, there are a few formalities that one needs to go through. For starters, youll need to give the landlord a formal offer to rent the property through a Letter of Intent. Signing this letter means that the landlord has officially accepted your offer. The agent assigned by the property owner mostly helps prepare the necessary documents.

Letter of intent

This is a proposal made by you to the landlord expressing your interest in leasing the rooms for rent and any requirements that you have. Most landlords tend to verbally agree on the requirements you have. As an expression of good faith, rental agreements start with the Tenant giving the Landlord 1 months rental in advance as a deposit.

Term of lease

This normally ranges between 12 to 24 months plus you have the option of renewing it for another 12 to 24 months after the tenure is over. However, its possible to get rooms for rent for a shorter period, though the rent may significantly go up. When the market performs well, landlords prefer to have long term leases of 12-24 months to lock-in the good rental rates. You may be required to give a notice at least 1 month advance notice for renewal to the Landlord.

Good faith deposit

Before taking up rooms for rent in Singapore one may need to provide good faith deposit which is usually the amount of one months rent. Good faith means that the landlord has accepted the deposit and has signed the letter of intent. He will not lease the property to renters until the Tenancy Agreement is signed.

Security deposit

Also, prior to taking rooms for rent it may be necessary to pay a deposit amount that is kept by the Landlord as security. The tenant should pay this amount only after the Tenancy Agreement is signed; and will be refunded to the Tenant once the lease term expires and is returned interest free. In addition, the landlord has the right to deduct all costs of damages and expenses that resulted from breach of contract.

by: Melissa Marietan

POST COMMENT

Five Factors Which Would Affect Release Of Formaldehyde The Factors That Influence The Capacity Of Stone Crusher Factors To Focus On To Shed Bodyweight Factors To Avoid While Preparing The Sba Disadvantage Narrative Certain Factors To Consider When Deciding On A Kvm Switch For Your Office Network Important Factors You Must Know About Heating Contractor Alexandria Considering Factors Of Hgh Hormones Factors To Consider Before Hiring A Work Injury Lawyer Factors To Consider When Choosing Blank Dvd Media Factors Influencing The Process Of Injection Molding Factors To Consider When Choosing A Conference Meeting Venue Factors To Consider When Hiring Fencing Company Factors That Determine Share Prices