Planning to live in Singapore? Are you looking for a suitable condominium for rent here? Well then, this list of do’s and don’ts will make your search easier. So, have a look.
Check the expatriate clause
Before you sign on the rent agreement, ensure that it includes the expatriate clause. This clause ensures you do not lose the security deposit if you terminate the lease prematurely as long as you give 2-months’ notice. Some landlords conveniently forget to include this clause, because this forgetting business works to their advantage. If the agreement doesn’t have this clause, give that property a pass and look elsewhere.
Check the rent agreement for unusual terms
As you might know, if you want to rent a condominium in Singapore, you will have to deposit a security, which is usually one month’s rent. Sometimes landlords include unusual terms, such as a higher rental condo price for no or minimal deposit or a substantially lower rental price for a high deposit.
If you see such terms in the rent agreement, it is best you don’t sign it. Such terms might mean trouble in future. For instance, a higher rental price for no deposit might mean that the landlord is bootstrapped and probably struggling to pay mortgage payments. If you take such a condo for rent, you might find yourself in a situation where the owner might ask you to move away at a very short notice.
Set both minimum size requirement and minimum bedroom requirement
Space here comes at a premium and it would not be a good idea to keep a spare room which you will not use more than two or three times a year. You will be surprised and probably impressed to find many bedrooms squeezed into a small space in many condos. Therefore, you should have minimum size requirement as well as minimum bedroom requirement.
Having unrealistic expectations
If you have not been able to find a suitable condo for the past few months, you should ask yourself if your expectations are realistic. Many expats search for a cheap condo in Singapore, but such a thing does not exist anymore. There are small condos, big condos, reasonably expensive condos, expensive condos, and very expensive condos. There are no such things as cheap condo in this part of the world.
Hunting for a condo without an agent
If you are new to this part of the world, you should seriously consider hiring an agent to help you find the suitable condo location. An experienced real estate agent will have in-depth knowledge about Singapore’s property and be able to find you a suitable condo quickly.
Forgetting to consider commute time
In all likelihood, you would want to live in a place that’s reasonably close to your office and has all modern amenities, right? Most people check what schools, malls, restaurants, cafes, and bars are located but often forget to consider commute time. When checking the commute time from a particular place, take into account the bus or MRT route also.