[EZLINK] Re: Private Property Rental in Singapore - Useful Info
Hi All,
Please take with caution,the person who wrote this seems to be an
agent.
YOu as the person taking the rental unit can change the terms to
suit your needs and can change the terms of the agreement provided
of course if the landlord is willing. Too many times we take for
granted the words of the agents as law. This is an agreement, You
should also cover yourself in case there is some problem . MAke sure
you get the copy of the NRIC of your agent and his business number.
and if the agent is the same for the landlord and tenant there is
grounds for conflict of interest , hence you can say upfront, you
will not pay the agents feesa s he cannot be loking out fo rthe best
interest of both sides. The agent fee is also negotiable and you can
tell the agents i will be giving you this much only this can be a
fixed sum or a percentage. It is a business transaction and as such
negoitable. The agent might not agree and that is up to them too. It
is usually one half month rent for a full year contract, in the
future if you and your landlord agree to extend the lease you do not
have to pay the agent again. You can also write contract for 6
months etc. There is no minimum period of contract length. After
paying your deposit and the landlord get a better offer , you have
the right to get not only your deposit back but also more.
In most cases deposit is only one month not two as stated. PLease
also not that you can demand from the landlord the letter that he
has the right to rent out the unit in case of HDB or in case of
private property the management of the Condo. MAny agents will say
it is not necessary and it is the tenant who will be on the street
in case there is any problem. Please be aware also that in many
cases there is a nexus between agent and landlord to fleece the
tenants of their deposit etc.
Take care
--- In ezlink@yahoogroups.com, "Muthiah Sivalingam" <muthu77@...>
wrote:
>
> *Private Properties Rental*
>
> - The services of an Agent is to bring a Tenant to rent your
property. His
> services end when the Tenant has settled into the apartment. He is
not
> expected to look after the apartment or the Tenant on Owner's
behalf
> throughout the lease period. That will be under property
management for
> which there will be a property management monthly fee of 5-10% of
the gross
> rental.
>
> - The Tenant has to present actual & photocopies of passport,
employment
> pass or any other documents to the Owner for verification under
immigration
> law.
>
> - There are 2 main documents when renting private properties :-
Letter of
> Intent & Tenancy Agreement.
>
> - Letter of Intent will state the intention of the intending
Tenant to rent
> the private properties subject to some terms and conditions to be
negotiated
> and accepted by the Landlord.
>
> - 1 month gross rental needs to be paid to the Landlord as
goodfaith deposit
> when presenting the Letter of Intent for the Landlord to sign
acceptance.
>
> - The security deposit is usually 2 months gross rental. The
security
> deposit is to hold the Tenant to the terms and conditions of the
lease and
> can be forfeited in view of any breach of the terms and conditions
of the
> lease by the Tenant. It is not simply that by way of forfeiture of
2 months
> security deposit, any Tenant can simply walk out of the the lease
contract.
> A lease contract of 2 years is binding on the Tenant and Landlord
for 2
> years and if the Tenant cannot fulfill the 2 years lease due to
reasons
> other than diplomatic clause postings out of Singapore, the Tenant
is still
> liable to compensate the Landlord till end of lease.
>
> - The standard lease of private properties is 2 years with possible
> extension of 1-2 years lease at a mutually agreed rental later.
>
> - The Tenant if a foreigner can request for a diplomatic clause
whereby the
> Tenant is allowed early termination or expiry of the lease in the
event that
> the Tenant is posted overseas. Such diplomatic clause have a
minimum stay
> period of 1 year with 2 months prior notice or 2 months rental in
lieu of no
> notice given i.e. the Tenant has to stay a minimum of 14 months.
>
> - Maintenance of air-conditioning system in private properties is
usually
> the Tenant's responsibility for which Tenant usually sign either a
bimonthly
> or quarterly air-conditioning servicing contract with qualified
> air-conditioning contractor.
>
> - The Landlord shall be responsible for repairs & replacement of
parts or
> any of the air-conditioning system provided the Tenant has taken
good care
> of the normal routine maintenance with a service contract.
>
> - Under the law, the Lessee meaning the Tenant is required to pay
Stamp Duty
> for stamping of the Tenancy Agreement. Cheque payment for stamp
duties are
> to be paid to "Commissioner of Stamp Duties".
>
> - Power supply, gas, telephone, TV license, SCV cable, Fax or
Internet
> services are not included in the rental and is the Tenant's
responsibility.
>
> - The Landlord take care of the monthly maintenance charges by Mgt
> Corporation for the Condo, property taxes, income taxes,
assessments and
> insurance premiums applicable to the Property.
>
> - The Landlord is also to maintain the structural condition,
concealed
> wirings & pipings, electrical, plumbing, fixtures and fittings of
the
> demised premises in tenable conditions.
>
> - The Tenant is to maintain the overall general condition of the
premises in
> tenable livable condition and make sure everything are in neat
useable
> order.
>
> - The Tenant shall be responsible and shall pay for minor repairs,
> replacement of light bulbs, changing of fuses, clearing of basin
and sink
> blockages etc i.e. items that are less than S$100-200/- per item
per job.
>
> - In cases where there is early expiry or termination of the lease
due to
> whatever reasons, the Tenant has to refund back in pro-rata
proportion the
> commission paid by the Landlord. It is entirely reasonable as the
Tenant has
> full control of the situation and any early expiry or termination
has to
> come from the Tenant.
>
> - Commission payable by Landlord is 1 - 1.5 month gross rental for
lease
> between 12 month to 24 months, with an additional half month gross
rental
> for every subsequent 12 months lease or less.
>
> - Commission (as service fee) payable by Tenant is 1 month gross
rental for
> lease between 12 month to 24 months, with an additional half month
gross
> rental for every subsequent 12 months lease or less. This
commission as
> service fee is only applicable when gross rental is S$2500 or less.
>
> - In a direct transaction (S$2500 & below) by Landlord's Agent
with Direct
> Tenant, Landlord's Agent will collect both the commission and
service fee
> payable by Landlord & Tenant.
>
> - In a co-broke transaction (S$2500 & above) by 2 agents, the
Landlord's
> Agent shall pay half the commission from Landlord to the co-
broking Agent.
>
> -In a co-broke transaction (S$2500 & below) by 2 agents, the
Landlord's
> Agent shall collect commission from Landlord.
>
>
> [Non-text portions of this message have been removed]
>
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