Property Renting Guide Singapore
Having a checklist before renting a place helps you make an informed choice. Hiring a real estate professional surely helps, he/she will ensure that you are able to find a suitable place to reside in temporarily, but it would help you to make your own list of things you are looking for in a rental property - and to tick them off as you go so that you choose the place that best suits your choice.
• Budget: The first and foremost thing you would need to consider before anything else, basically how much do you want to spend on your rent. Determining your budget narrows down your search to the best choices that meet your needs filters your search making it more efficient.
Having a budget in mind does not only mean taking your rent into account but also associated expenses like security expenses and maintenance expenses into account. Having a little extra always helps… right.
• Location: Now that we have set the budget let’s move on to the next important thing “Location”. Depending on the no. of members who are moving in, you’d probably like a place that’s conducive to everyone. If you are single you would like to see if there are cool places to hangout nearby, if you’re married, you’d like to look into schools, children’s parks etc.
Distance from your/your spouse’s workplace, quiet and serene environment and many other factors come into play while choosing a location. So, you need to have a checklist in place so that we can help in find you a house of your choice.
• Size and layout: Even if it is only temporary, you have to consider the size if the property you are renting. Can it fit all of your belongings? Is it of a size and layout that you are comfortable with?
If there is a possibility of you staying in your temporary home for an indefinite period of time, you will need to think about whether this is a space that you can grow into. Similarly, if you have a family with you, then you might consider the number of rooms you and your family need.
If there is not enough space for all of your belongings and you are determined to make this particular rental property your new temporary home, you will need to rent an additional storage unit. You will then have to calculate the cost of renting a storage unit and the duration that you will need the additional storage for.
As an alternative, you may opt to sell the furniture that cannot fit into your new rental home. This does not necessarily apply only to space; however, you might find that a bed that you're bringing into your new home cannot even fit through the front door. These potential inconveniences should also be taken into consideration when deciding on a rental property.
• Facilities: Another factor to consider is the kind of facilities available to you and your family. For example, if you are renting a condominium unit, you should look at the facilities which are available to you, such as access to the condominium's gymnasium, swimming pool and enclosed car park.
If you are renting a HDB flat or a landed residential property, you will need to look at the proximity of grocery shops, markets, shopping malls and sports amenities. If these facilities are what you are looking for and they are conveniently available to you, then the property is worth considering.
• Transportation: Is the location served by a large number of bus and other public transportation services? Is the place properly connected with multiple mode of transport? Does it have multiple/alternative routes?
Accessibility to a location saves your commute time…..time which you can spend doing things like playing with your kids, hanging out with your friends etc. Considering the amount of time you and your spouse or your child might spend commuting, it is important to take it into consideration while you choose a property to rent.
• Furnishing: Rental properties can be partially furnished, fully furnished or completely void of any furnishings. Moderately furnished rental properties are usually kitted out with light fixtures, air-conditioning and basic laundry and kitchen equipment.
Fully furnished properties more often than not include additional items such as beds, sofas and a television. It is better if you are aware of the level of furnishing that will be provided beforehand, what’s useful for you and what’s not and how much would it cost you to use it.
• State of the property: Inspect your options in person. Check if there are any signs of a leaking roof or a pest infestation. You should also check if there are cracks in the ceiling or in the walls. A careful examination of the place helps you feel content with the choice you’ve made and helps avoid any surprises in the future.
After a careful examination, do make sure that you discuss it with the landlord beforehand, especially if you plan to rent it. Check with the landlord to see if he/she will take responsibility for the rectification works, if necessary, including expenses that might be needed before moving or doing your stay. A clear discussion with regards to the maintenance of the property helps both parties as both you and the landlord now have a system in place if any inconvenience occurs in future.
• Lifestyle choices: Make sure to sit down and have a conversation about your lifestyle, ask them if they have any apprehensions about certain things that they’d like you to consider. Convey your views and see whether they agree/ not. The topics may range from pet restrictions, to the maintenance expenses, the number of guests that are allowed, if they have apprehensions about certain kind of food etc. More often than not, people agree on most things and compromise if they like each other.
• Neighbourhood: When you do go for a rental viewing, make sure to observe the neighborhood of the rental property you are viewing, make sure the ambience is to your liking and make an informed decision.
Try having a conversation with your closest neighbors as well, you’ll get real time information what it’s like to live in that neighborhood, the quality and availability of amenities etc. If you can imagine yourself living there, then the property is worth considering.
And if you need help with any of it, feel free to tell us, we’re always here.