Lease Tenancy

Discuss about where to live, renting a property, tenancy issues, property trend and property investment in Singapore.
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Angelina88
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Lease Tenancy

Post by Angelina88 » Wed, 12 Sep 2007 1:27 pm

Hi All

I had just rent a room. As I do not know whether the place is suitable for me, like landlord, other tenants, environment and other factors, I prefer not to sign a 6 month or 1 year lease with the owner.

The landlord agreed to sign a rental agreement that provides for a one-month tenancy that is automatically renewed each month unless either tenant or landlord gives the other 1 month notice to terminate the agreement.

Please advice me on the pros & cons of such monthly agreement as compare to the term-lease tenancy agreement.


Thank you very much for your help!
:)

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ScoobyDoes
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Post by ScoobyDoes » Wed, 12 Sep 2007 7:38 pm

You may be subjected to price increases on a monthly basis as well as take advantage of any decreases.

Which way it will go us currently up for debate.

hackson
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Re: Lease Tenancy

Post by hackson » Wed, 12 Sep 2007 9:36 pm

Angelina88 wrote:Hi All

I had just rent a room. As I do not know whether the place is suitable for me, like landlord, other tenants, environment and other factors, I prefer not to sign a 6 month or 1 year lease with the owner.

The landlord agreed to sign a rental agreement that provides for a one-month tenancy that is automatically renewed each month unless either tenant or landlord gives the other 1 month notice to terminate the agreement.

Please advice me on the pros & cons of such monthly agreement as compare to the term-lease tenancy agreement.


Thank you very much for your help!
:)
Like what the previous member had mentioned.


Well unless you are not comfortable with the landlord,
you can move out after a month and you won't be oblige to stay on
On the other hand if landlord wants u to move, you'll have to find a place in the shortest time.

c"j)

Angelina88
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Post by Angelina88 » Thu, 13 Sep 2007 11:14 am

Hi guys,

Thank you very much to ScoobyDoes & hackson for your reply.

May I know which type of tenancy agreement would you prefer to sign? 6months/ 1year/ 2year or Monthly?

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ScoobyDoes
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Post by ScoobyDoes » Fri, 14 Sep 2007 12:13 pm

Since i rent whole apartments i go for the two years.... cause i hate to move.

Given that you are talking about renting a room the choice is different an i would go for something shorter...... just in case i don't like living with the people around me. See if you can start with something short with the option to extend longer if you like it. Of course this still leaves you open to the price changes as well.

Cruithne
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Post by Cruithne » Fri, 14 Sep 2007 2:52 pm

Going by the trends for the past 9 months, it's probably cheaper to rent on a 12 or 24 month basis. Rental rates have spiked to nearly twice as much in many areas of Singapore, so monthly, as mentioned above, will make you more vulnerable to these price hikes.

Especially in your case, if the owner finds another tenant willing to pay more, the one month termination clause can work against you.

Conversely, owners are more willing to negotiate for longer leases at lower rates as it saves them the hassle and added costs of finding another tenant.

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