The 5-Step Guide To Renting A Property In Singapore For Students

Image result for The 5-Step Guide To Renting A Property In Singapore For StudentsDue to the rising consumer confidence and great economic prospects, the prices of property in Singapore have increased. Rental prices are higher than ever. Particularly for short-term tenants, most landlords aren’t willing to lower the rental price. For foreign students, they’re advised to arrive in the republic early to find the right accommodation.

Whether you’re a local or foreign student studying in a Singaporean university, this 5-step rental guide could help in your search for a good accommodation before your new semester commences:

 

  1. ENGAGE A PROPERTY AGENT AND LOOK FOR HOUSEMATES.

Image result for ENGAGE A PROPERTY AGENT AND LOOK FOR HOUSEMATES.Before you start engaging with a property agent and looking for housemates, you must also determine your preference/requirement and budget: • When determining your budget, remember to include expenditures like telephone, utilities, or cable TV. • When searching for a property, consider these factors to find the best property in the best location: food and entertainment facilities, the location of your school, and public transportation. You can search for condos near the MRT to make your student life easier.  • Contact a local property agent and inform him or her of your preference/requirement and budget before or when you arrive in the country.  • Try to find 2-4 other students to rent with you. You can find them personally or online via student forums or other related websites.

 

  1. PREPARE THE DOCUMENTS FOR TENANCY CONFIRMATION.

Image result for PREPARE THE DOCUMENTS FOR TENANCY CONFIRMATION.Your agent will present you with a good selection of accommodations based on your preference/requirement and budget. Once you make your final decision, your agent will proceed by negotiating offers and rental terms with the property owner’s representatives or the landlords themselves. Upon successful negotiation, you’re required to confirm your tenancy by preparing these documents: • One photocopy of passport  • One photocopy of your student pass  • A month’s booking deposit (generally payable after the signings of Letter of Intent and Tenancy Agreement)

 

  1. SIGN THE LETTER OF INTENT.

Image result for SIGN THE LETTER OF INTENT.The Letter of Intent is a letter that states your intention to lease the property from its owner or landlord. The letter will also include your requirements for the property, like the date your moving in, furnishing, the agreed amount of monthly rental, or tenancy period. Upon signing the letter, you’re required to make a booking deposit. Once the tenant and the landlord signed the letter, the latter has no right to rent the property out to other people. Your deposit serves as a security that you’re the rightful tenant. Until you have received the Letter of Intent and read it yourself, don’t make any payments under any circumstances. Many students make the mistake of paying before they even sign the letter.

 

  1. SIGN THE TENANCY AGREEMENT.

Image result for SIGN THE LETTER OF INTENT.The next document for you to sign is the Tenancy Agreement, which is a legal contract stating the rules both tenant and landlord have agreed to follow. Before you sign, make sure the agreement complies with local laws and relevant policies, which include immigration policy, occupancy rules, or management regulations.

 

  1. MAKE PAYMENTS.

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Other than security deposit, you’ll also have to pay an advanced rental payment. You’re also required to get a stamp duty by IRAS (Inland Revenue Authority of Singapore). The stamp duty is borne by you, and the cost is about 10% of a half-month rental price. Remember to request a receipt for every transaction made to avoid future disputes.

 

Once you’ve moved in and stayed at the property for a few days, you may notice things that you didn’t when viewing the accommodation. Take note of what’s wrong. Problems like leaky pipes or damaged electrical goods should be brought to the landlord. Often times, it’s your landlord’s responsibility to deal with the damages at the property, unless you’re the one causing the damages. Before you settle in, make sure your landlord shows you around and teaches you how to use things.

 

There you go. Follow the above tips if you want to find a good accommodation before the semester starts. These can help make your life easier and avoid problems down the road.

Property In Singapore Can Be Purchased For Many Different Purposes

 

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The island and country of Singapore is a great place for people to live with a mix of cultures, languages, beautiful flats, homes, and offices. They also offer lots of fun little shops, stores and malls that make it quite interesting with all the different things that are sold. One of the best things about the city is that it is always kept so clean, it is very important to the people in power so they are very strict about it’s upkeep. Construction and improvements on roads and buildings, along with rehabbing older buildings and preserving their older and more attractive sites are constantly going on in Singapore. Part of this is because a large percentage of the people in Singapore are very wealthy due to the many businesses and different ways of making a living. There is also a large number of different trades that sell various items to the people of Singapore so it its easy to make a living, especially with the large amount of vacationers and tourists that come to the area. It is one of the biggest tourist attractions and money making countries in Asia.
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There is a large mix of different cultures in Singapore, but the four that are the biggest are the British, the Chinese, the Malay, and the Indian. The city is a very popular place to live because of all the different businesses, and the mass transit system that makes it so easy for everyone to get around Singapore. They are continuously building new homes, apartments and condos, and new residential developments on the island which attracts people to want to invest in Singapore property. There is a large number of developments in Singapore that can be bought and used as an investment, to rent out or to buy for yourself. The country has worked very hard to build a huge rapid transit system for the people, it is easy for it’s people to get any place on the island they need to go. There are also thousands of flats that are built that go very high with a large amount of stories by the Housing Department for families that need homes. There are a large number of very nice residential neighborhoods where homes are built for the wealthy in Singapore. Because there are such large numbers of people that come to live here and visit, it is an ideal place in which to make money buying property in Singapore. Whether you want to buy a commercial site for a business or a residentialproperty in Singapore, the potential to make money here is endless and would make a great place to invest.

Landed Property – Four Things You Need to Know About Them

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What are landed property? And how can you invest in them? Though such questions don’t really concern you if you aren’t planning on investing any time soon, those who do wish to invest in Singapore’s propertymarket, particularly landed types of housing, must know the fundamental components constituting the real estate. Only then can you make sound business decisions that are congruent to future investment goals and retirement objectives.
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What is Landed Property? 

The general definition of the type of housing, at least in Singaporean borders, is a property wherein the owner has the deeds to the land being occupied by the property itself. This normally pertains to detached and semi-detached housing as well as terraced estates. To gain a better perspective, the counterpart to landed property are apartments and condo units, both of which are strata-titled.
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Why are There Landed Property? 

In the real estate business, a landed house for sale in Singapore is geared towards generating income for the property owner without him/her providing any ongoing maintenance and repairs. Landed properties date back as far as medieval Europe, when landed properties were subdivided into a manoralism and family farm structure. Nowadays, modern landed estate have quite similar characteristics and purposes but are governed slightly different.
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Why Invest in Landed Property? 

Among the different types of investment housing available in Singapore, landed property is one of the few that generates a competitive rate of passive income by means of monthly rent or lease. Historically, landed property has always been considered an excellent investment opportunity for growing wealth. Demand for properties in countrysides and suburbs is constantly increasing. Over a short time horizon, any investment put in landed estate will generate better gains that cannot be found elsewhere. The potential returns can be further amplified by the fact that Singapore’s economy is poised to expand in the future.
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How to Invest in Landed Property? 

While highly encouraged, investing in landed property should be carefully planned for. The benefits and good features of the property should be weighed with its unique set of risks. When investing in landed property, tailor your choices based on your investment capital. For small investors, it would be strategic to stick with shares of realty agencies and real estate investment trusts. These options provide more liquidity as opposed to directly owning a landed estate.

Final Notes 

 

One should conduct proper research before buying a landed house for sale in Singapore. Many offerings for landed property allure private investors with large shares. However, what is not stipulated is the fact that it can take some time before these assets generate passive income. In addition, verify if your contact regarding the Singapore landed property is indeed the true owner of the property. You do not want to be wasting both time and money if he/she is not allowed to sell the estate legally.

While landed properties involve more complex stipulations than traditional single-family homes or apartment units, its liquidity and potential ROI make them invaluable additions to any investment portfolio.