Rental Deposits

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Rental Deposits

Post by mrdooby » Tue, 14 May 2019 5:47 pm

Hi fellow expats,

I'm currently looking for apartments after recently arriving in Singapore and was looking into the sing-guarantee escrow thing after visiting this forum and seeing the advert.

I'm from Australia and pretty unfamiliar with this sort of thing. Before I go and register, etc. I wanted to ask around and see if this is a good idea.

Has anyone used that company before and what are your experiences?

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Re: Rental Deposits

Post by PNGMK » Tue, 14 May 2019 7:49 pm

No. I don't really see the need. The most critical document is the Tenants Agreement in Singapore. There is no overarching tenancy act like Australia so everything needs to be covered in the TA. Most important things are ensuring your liability if you need to terminate (and how to terminate) and conditions required for return of deposit. There is also no agency to hold a bond in so that can be difficult at the ned of the lease. It's a bit of a renters market so bargain hard - you can and should ask for EVERYTHING you need prior to signing the TA and include it in the TA (new white goods, repairs, upkeep issues).
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