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Question re: housing

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Koodum
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Question re: housing

Postby Koodum » Fri, 28 Jul 2017 1:39 am

Hey all,

Excited to say I'll be joining you all in Singapore next month.

Quick question: I've been figuring out housing in Singapore, and ran into a question.

Agent is requesting first month rent + deposit + fees up front today, one month before arrival in Singapore. I've requested to sign Letter of Intent (LoI) and provide deposit of one month, and pay rent + fees on arrival after inspecting the property. Agent refused LoI.

Should I be concerned or is this business as usual? It's a short stay rental - six months.

Apologies if the question is rather straightforward - but I'm trying to wrap my head around this. Any perspective you have would be highly appreciated ;)

Best,

emergency234
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Re: Question re: housing

Postby emergency234 » Fri, 28 Jul 2017 6:10 am

Koodum wrote:Agent is requesting first month rent + deposit + fees up front today, one month before arrival in Singapore. I've requested to sign Letter of Intent (LoI) and provide deposit of one month, and pay rent + fees on arrival after inspecting the property. Agent refused LoI.

Should I be concerned or is this business as usual? It's a short stay rental - six months.


The agent is trying to pull a fast one! Don't pay anything before seeing your rental.

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Strong Eagle
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Re: Question re: housing

Postby Strong Eagle » Fri, 28 Jul 2017 7:22 am

Additionally, a letter of intent has no legal standing. Never give anyone any money until you sign a tenancy agreement that you have fully read and agree to. You can sign a LOI if you want to but it means nothing... you or the landlord can still walk away, particularly the landlord. Therefore, never give any money.

The really shitty real estate agents will try to convince you that you will lose the property if you don't give money with a LOI. Don't do it. The landlord can change the terms of the tenancy agreement, then claim the deposit money because you won't accept the updated agreement.

Also, unless you have engaged your own agent, absolutely refuse to pay any agents fees on the part of the landlord's agent... it's another dirty trick common in Singapore.

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martincymru
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Re: Question re: housing

Postby martincymru » Fri, 28 Jul 2017 8:54 am

Remind me
1. Does the agent need to be registered?
2. Is 6 month tenancy now allowed in Sg? If yes, what minimum term did it used to be?
3. Can the term be less than 6m?
4. Is there a maximum term legally allowed?
5. Tenancy Agreement must be stamped?

brian_singapore
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Re: Question re: housing

Postby brian_singapore » Fri, 28 Jul 2017 5:38 pm

I believe the minimum term was just changed from 6 months to 3 months.

The only cap on the length of a lease I have heard of is for HDB flats, which I believe is 18 months.

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ecureilx
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Re: Question re: housing

Postby ecureilx » Fri, 28 Jul 2017 6:51 pm

martincymru wrote:Remind me
1. Does the agent need to be registered?
2. Is 6 month tenancy now allowed in Sg? If yes, what minimum term did it used to be?
3. Can the term be less than 6m?
4. Is there a maximum term legally allowed?
5. Tenancy Agreement must be stamped?


Unlicensed agents or agents with expired license do end up in court.

CEA has been enforcing their new powers of late against agents who aren't registered.

IT Is illegal, on top of above, to collect money representing a landlord without being registered. That's Police = crime.

Tenancy agreement must be stamped.


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