The typical lease term for renting property in Singapore ranges from one to two years, although shorter terms of six months or one year are also available, particularly for serviced apartments. It is common for tenants to renew their lease for another term at the end of their initial lease period.
Furnished vs Unfurnished Rental Properties
In Singapore, both furnished and unfurnished properties are available for rent. Furnished properties come with furniture and household items, while unfurnished properties are usually rented with just the basic fixtures and fittings.
Furnished properties in Singapore typically include a bed, mattress, sofa, dining table and chairs, television, refrigerator, and other essentials. Some properties may also include air conditioning, washer and dryer, and kitchen appliances.
Standard Clauses in Lease Agreements
In a standard lease agreement in Singapore, there are several key clauses that are typically included:
- The names of the landlord and tenant
- The rental amount and payment terms
- The length of the lease
- The security deposit amount
- The responsibilities of the landlord and tenant, including maintenance and repair responsibilities
- The use of the property, including any restrictions or limitations
- The conditions for renewing or terminating the lease
- Any restrictions on subleasing or assigning the lease
Additional Clauses in Lease Agreements
While not mandatory, there are several additional clauses that may be included in a lease agreement in Singapore. Some common ones include:
- The provision for a break clause, which allows either the landlord or tenant to terminate the lease before the end of the agreed term
- The inclusion of a rental increase clause, which allows for a predetermined increase in the rental amount over the course of the lease
- A clause specifying the use of the common areas of the property, such as a swimming pool or gym
- A clause specifying the responsibilities of the tenant regarding the use of the property, such as keeping the property clean and tidy and not causing any damage.
Expat Awareness When Signing a Lease Contract
Expats in Singapore should be aware of several key factors when signing a lease contract, including:
- Understanding the terms and conditions of the lease agreement, including the rental amount, security deposit, and any restrictions or limitations
- Familiarizing themselves with the responsibilities of both the landlord and tenant, including maintenance and repair responsibilities
- Taking note of any clauses related to renewing or terminating the lease, as well as any restrictions on subleasing or assigning the lease
- Checking the condition of the property and noting any damages or faults before signing the lease agreement
- Understanding the local laws and regulations regarding rental properties in Singapore.
Condition Reports Before Signing a Lease Agreement
Condition reports are not common in Singapore before signing a lease agreement, but it is still recommended that tenants thoroughly inspect the property before signing the lease and make note of any damages or faults.
Qualifications and Licenses for Letting Agents
In Singapore, letting agents are required to be licensed with the Council for Estate Agencies (CEA). To become a licensed letting agent, individuals must pass the CEA’s licensing examination and meet the CEA’s minimum educational requirements.
Association for Reputable Letting Agencies
The Council for Estate Agencies (CEA) is the main association for reputable letting agencies in Singapore. The CEA is responsible for regulating the real estate agency industry in Singapore and ensuring that letting agents adhere to professional standards and ethical practices.
For more information, interested parties can visit the CEA wesbite.
