Property Renting Tip #7: Lease Period

It is common to have a one to two year lease period in Singapore, typically two years if it is a comfortable duration for both the Landlord and Tenant.In the event you want to have a longer lease term but are not sure if you want to keep the same rental rate, you can have […]

Property Renting Tip #6: Who are your Tenants?

(Reference:www.ica.gov.sg, www.mom.gov.sg) The Immigration Act declares that it is an offence for any person to harbor illegal immigrants. Do your due diligence to ascertain that your Tenants hold a valid permit or passto let them stay in Singapore. The Act sets out the threefold test of due diligence: The defendant has required the person to […]

Property Renting Tip #5: Rental Rate

Would you rather accept a lower than expected rental or leave the rental unit vacant when you are not able to find a Tenant who can pay your expected rental? Besides looking at the rental yield, which is dependent on the purchase price, another element to help in making such a decision is to understand […]

Property Renting Tip #4: Utilities handover

(Reference: www.singaporepower.com.sg) You do not need to terminate the existing power supplies or utilities for the new Tenant.All you have to ensure is that the next occupier submits a request to SP Services (Singapore Power,an energy utility company) to change the billing party of the said premise with an effective date. If you have a […]

Property Renting Tip #3: Rental Approval

(Reference: www.hdb.gov.sgwww.subcourts.gov.sg) For renting of an HDB flat, you have to apply for rental approval or renewal (this can be done online) before you lease the unit, and after meeting the Minimum Occupation Period (MOP). If the unit is not approved for rental renewal and the Tenants have to move out, the Landlord has to […]

Property Renting Tip #2: Stamping the Tenancy Agreement

(Reference: www.iras.gov.sg) Stampingthe Tenancy Agreement (TA) is an important protection to both the Tenant and the Landlord.This document binds both parties until the end of the lease. Evasion of stamp duty is a serious offence in Singapore.In most TAs, this cost is borne by the Tenant. The TA is the only contractual document given to […]

Property Renting Tip #1: Are You Landlord Material?

Do you have what it takes to be a Landlord? The responsibilities of a Landlord are considerable. It’s not just about providing a space for your Tenants.There are rents to collect, repairs to attend to and maintenances to deal with. You also have to handle unsatisfactory Tenantsand consider the relevant laws. As a Landlord you […]

Property Buying Tip #12: Defects Liability Period

(Reference:www.bca.gov.sg) Many buyers have the impression that the one year defects liability period for brand new property starts from the day the Buyer collects the key when the unit hasreceived its TOP (Temporary Occupation Period).This is not correct. It is effective when the property’s TOP is announced, i.e., it is based on the date of […]

Property Buying Tip # 11: Concurrent Ownership of HDB and Private Property

(Reference: www.hdb.gov.sg) The current regulation does not allow you to buy a public housing or Housing Development Board (HDB) Flat if you own private property in Singapore or any other countries (unless you disposethe private property within six months of the purchase date of a non-subsidized flat). There is no restriction on the number of […]

Property Buying Tip #10: Co-Ownership

In Singapore, there are two forms of co-ownership for residential property. (1) Joint Tenancy [right to survivorship] Two or more parties have rights to the land as if they were a single owner. It also implies the right to survivorship i.e. when one party dies, his or her share automatically passes on to the other […]