1) Tenant has to provide a Letter of Intent (LOI):

• To inform landlord on the intention to rent the property, together with the requests/requirements and the rental price.
• For a 1 year lease, 1 month deposit (cheque to owner) is required. For a 2 year lease, 2 months deposit is required.
• Tenant’s agent will present the LOI together with the cheque to the owner/owner’s agent.
• Owner will decide whether to accept or reject the offer.

2) Once Landlord ACCEPTS the LOI:

• Landlord’s agent will prepare the Tenancy Agreement (TA) contract.
• Tenant’s agent will explain the TA to the Tenant on the clauses and things to take note in the contract (like minor repairs, diplomatic clause etc).

3) If Landlord REJECTS the LOI:

• Landlord will need to return the deposit back to the Tenant. There will be no binding contract.

4) Both Landlord and Tenant AGREES on the contract

• Both will sign the contract and each party will get a original copy.
• Tenant’s agent will go through the house inventory together with the Landlord’s agent.
• Tenant’s agent will send the TA for stamping by Inland Revenue Authority of Singapore (IRAS) to legalize the contract.

COSTS INVOLVED

1) Deposit (1 year will be 1 month deposit ; 2 years will be 2 months deposit)

2) Rental (First month rental has to be paid upon signing of the TA)

3) Opening of the utilities account ($500 deposit for foreigners)

4) Stamp duty fees (Number of months rental x 0.4%)

5) Agency fees (2 year lease, 1 month fees ; 1 year lease, 0.5 month fees)

6) Servicing of the air-conditioners every 3 months

7) Internet services (eg Starhub, M1 and Singtel)