Are 12 month leases hard to get for Condo / Apartment?

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mikehayes
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Are 12 month leases hard to get for Condo / Apartment?

Post by mikehayes » Sat, 17 Jun 2006 4:24 pm

Hi all,

Relocating with wife to Singapore in July '06. Being put up by sponsor company in accomodation for 2 weeks while a relocation agend helps us find an apartment.

Hearing from some other expats it may be difficult to find a place for only a 12 month lease (moving to Europe after the 12 months)

Any advice / experience with this?

Regards,
Mike

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joop
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12 month leases in Singapore

Post by joop » Sun, 18 Jun 2006 12:16 am

When rental market picks up, it is more difficult to convince owners to take on one year leases, however it is still possible with some owners and also depends on the locality, and less popular localities, it would be still possible for one year leases. For properties with high demand, it may be more difficult to have leases less than 2 years.

So it all depends. :)
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simmo
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Post by simmo » Mon, 19 Jun 2006 4:58 pm

I have a friend who negotiated a 12mth lease about a year ago. It cost him an additional S$200/m on a $2000/m lease.

Patrick777
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Renting

Post by Patrick777 » Mon, 19 Jun 2006 7:33 pm

What happens if you leave before surely you just lose your 1 months deposit?

Worried as I'm going to be coming but making a call on staying in about 1 years time.

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Post by NJ » Tue, 20 Jun 2006 3:58 pm

my understanding is that most leases are for two years but you can have a 'diplomatic' clause written in whereby you odn't get penalised after the one year if you leave the condo because you are leaving the country. This might fit your situation. Talk to the relocation consultant, I would assume that they should know about this.

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12 months lease is possible

Post by UKexpat » Wed, 28 Jun 2006 1:23 pm

Although 2 years leases are standard, if you put in an offer for 12 months it may well be accepted. That is what we did, twice, and it is fine. The first time we actually got gazumped so that was unsuccessful! But the apartment we are in now we have on a 12 month lease and did not have to pay any extra rent, except a one off commission payment to our agent as she would have lost out on half of her commission for the shorter term lease.

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Re: Are 12 month leases hard to get for Condo / Apartment?

Post by bunty » Wed, 28 Jun 2006 1:52 pm

mikehayes wrote:Hi all,

Relocating with wife to Singapore in July '06. Being put up by sponsor company in accomodation for 2 weeks while a relocation agend helps us find an apartment.

Hearing from some other expats it may be difficult to find a place for only a 12 month lease (moving to Europe after the 12 months)

Any advice / experience with this?

Regards,
Mike
I understand the rental market is quite hot.... so owners might agree for a 1 year lease, if they want to again leaase out at higher rates after 1 yr.

kaurikid
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One year leases

Post by kaurikid » Sat, 01 Jul 2006 9:15 pm

Been in Singapore for a while.

The property market is going up , landlords seem to be more willing to take one year lease as it is to their advantage.

The other option is to stay in a Serviced Apartment such as The Wilby,Treetops they are very flexible and full of people on short term contracts :D

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RE

Post by bright_wave » Wed, 16 Aug 2006 3:39 pm

Hi,

I've always asked for a 12 months lease + option to extend to agents / owners, so far none of them asked me to pay additional for that although they did try to get me to extend to a 2 years contract saying that they will decrease 50 dollars or so if I extend. I usually get away with it. 8-)

my 2 cents worth.

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