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How do I rent out my unit at [property name] myself
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1. Confirm if your unit is a private residential property or an HDB flat.
2. For a private property, ensure a minimum tenancy of three consecutive months. If it is an entire HDB flat, the minimum rental period is six months.
3. Verify that the potential tenants are legally residing in Singapore (check passports, employment passes, or ICs).
4. Agree on key terms in writing, typically starting with a Letter of Intent (LOI) and good faith deposit.
5. Prepare a Tenancy Agreement. It should include the rent amount, payment terms, security deposit, inventory of contents, and any relevant clauses (such as a diplomatic clause if applicable).
6. Make sure to observe occupancy caps:
• Private units under 90 sqm are capped at six unrelated persons.
• Larger private units may accommodate up to eight persons (from 22 Jan 2024 till 31 Dec 2026).
7. Arrange for stamp duty and confirm who bears the cost.
8. Upon signing, collect the security deposit (usually one month’s rent per year of lease), minus any initial good faith deposit.
2. For a private property, ensure a minimum tenancy of three consecutive months. If it is an entire HDB flat, the minimum rental period is six months.
3. Verify that the potential tenants are legally residing in Singapore (check passports, employment passes, or ICs).
4. Agree on key terms in writing, typically starting with a Letter of Intent (LOI) and good faith deposit.
5. Prepare a Tenancy Agreement. It should include the rent amount, payment terms, security deposit, inventory of contents, and any relevant clauses (such as a diplomatic clause if applicable).
6. Make sure to observe occupancy caps:
• Private units under 90 sqm are capped at six unrelated persons.
• Larger private units may accommodate up to eight persons (from 22 Jan 2024 till 31 Dec 2026).
7. Arrange for stamp duty and confirm who bears the cost.
8. Upon signing, collect the security deposit (usually one month’s rent per year of lease), minus any initial good faith deposit.
Always use a proper contract, stay mindful of immigration rules, and make sure the property is used only for residential purposes.