Always the Pessimist, worst case scenario

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Patrick777
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Always the Pessimist, worst case scenario

Post by Patrick777 » Tue, 20 Jun 2006 6:30 pm

I move to Singapore get an apartment on a 2 year lease and my company says we don't like you blah blah blah. I beleive under my work permit I'd have 2 weeks to leave?

What happens about the rent etc? I'm presuming I lose my one months deposit but surley that is it?

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joop
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Re: Always the Pessimist, worst case scenario

Post by joop » Tue, 20 Jun 2006 7:45 pm

Patrick777 wrote:I move to Singapore get an apartment on a 2 year lease and my company says we don't like you blah blah blah. I beleive under my work permit I'd have 2 weeks to leave?

What happens about the rent etc? I'm presuming I lose my one months deposit but surley that is it?
Not sure about your termination clause in the company. You can check your letter of offer.

You can break lease should you fall within the diplomatic clause period, which is normally 12+2 months = 14 months, which requires you to stay put in the apartment for 14 months, or pay rent up to the 14th month.

An alternative is to find an alternative tenant to replace you, on the basis the landlord agrees. Which seems to be the most practical approach if you can't exercise your diplomatic clause.

Good luck. :wink:
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GoTheCon
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Post by GoTheCon » Tue, 20 Jun 2006 8:15 pm

I am in the same position. But one thing brings me comfort: the landlords and agents I have been dealing with are fair-minded and realistic. As I see it, if your job falls through you forfeit your deposit. But if you or an agent (for their fee) can quickly find a replacement tenant before you go, the financial damage would be minimised and you may get part of your deposit back.

Not all landlords insist on two-year rental agreements. You can ask for just one year (doesn't help much if you don't survive your work probation period of a few months) ... but negotiating one year instead of two may just mean you're less able to negotiate on matters like the amount of the rent and new/extra furniture.

Sadly, without unconditional, long-term backing from our employers, it's a risk we take. Best of luck.
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