Select one of the frequently asked questions below to learn more about renting or leasing out homes in Singapore.
Frequently Asked Questions
Renting a Home in Singapore
Renting a home in Singapore involves searching for a property, arranging viewings, negotiating rental terms, signing the tenancy agreement, and paying the security deposit and first month’s rent. It’s advisable to engage a licensed property agent for smoother transactions.
To rent a property in Singapore, tenants usually need to provide a copy of their passport, employment pass (for expatriates), and proof of income or employment letter. Landlords may request additional documents for verification.
The security deposit in Singapore is typically one month’s rent for a one-year lease or two months’ rent for a two-year lease. This deposit is refundable at the end of the tenancy, subject to terms and conditions in the agreement.
Foreigners can rent private properties or HDB flats in Singapore. However, renting HDB flats is subject to eligibility criteria, including the landlord’s compliance with the Minimum Occupation Period (MOP) and non-citizen quota.
The MOP is the period during which HDB flat owners must live in their property before they can rent it out entirely. This period is usually five years and applies to Singaporean-owned public housing.
Rental prices in Singapore vary depending on location, type of property, and size. On average, a one-bedroom apartment in the city center may cost SGD 3,000–5,000 per month, while properties in suburban areas may range from SGD 1,800–3,000.
Utilities such as water, electricity, and internet are typically not included in the rental price in Singapore. Tenants need to pay for these separately unless stated otherwise in the tenancy agreement.
Tenants are responsible for timely rental payments, maintaining the property, and notifying the landlord of any damages or repairs. They must also adhere to the terms of the tenancy agreement, such as not subletting without permission.
Terminating a lease early requires mutual agreement between the tenant and landlord. Some tenancy agreements include a diplomatic clause or early termination clause that allows for termination under specific conditions, such as job relocation.
To protect your deposit, ensure a detailed inventory list is signed at the start of the lease. At the end of the tenancy, return the property in good condition, adhering to the terms of the agreement. Engage a property agent to mediate disputes if necessary.
leasing out your property for Rental Income
Before renting out your property, ensure you meet all legal requirements. For HDB flats, you must meet the Minimum Occupation Period (MOP) and comply with the non-citizen quota. Private property owners face fewer restrictions but must adhere to tenancy regulations.
The rental price depends on factors like property location, type, size, condition, and market demand. Research similar properties in the area or consult with a licensed property agent to set a competitive rental rate.
Yes, rental income in Singapore is subject to income tax. You must declare your rental income, minus allowable deductions, in your annual tax returns with the Inland Revenue Authority of Singapore (IRAS).
You’ll need a tenancy agreement, the tenant’s identification documents (passport, employment pass), and a signed inventory list. For HDB rentals, you must also register the tenancy with HDB within seven days of the lease commencement.
Hiring a property agent can simplify the process. Agents can help with marketing your property, screening tenants, drafting tenancy agreements, and managing the leasing process. Ensure you engage a licensed agent registered with the Council for Estate Agencies (CEA).
The typical lease term is one to two years, with the option to renew. Short-term rentals of less than three months are not allowed for private properties and HDB flats unless they meet specific exceptions.
A tenancy agreement should include the rental amount, lease term, payment schedule, security deposit, tenant and landlord responsibilities, maintenance terms, and clauses for early termination or renewal. Clear terms help prevent disputes.
Tenants are usually responsible for minor repairs and maintenance, such as replacing light bulbs or aircon servicing. Landlords are responsible for major repairs and structural issues unless otherwise stated in the agreement.
Screen tenants by checking their employment status, creditworthiness, and references. We will assist with tenant screening to ensure you find reliable renters who can meet their obligations.
Risks include late payments, property damage, and non-compliance with regulations. To mitigate these risks, conduct thorough tenant screening, draft a comprehensive tenancy agreement, and consider landlord insurance for additional protection.