Leasing of Private Properties

Leasing or subletting, the whole unit or rooms, the minimum stay is three months (no daily, weekly, monthly…). Ten square metres per occupant, to a maximum of six (tenants plus owners).

Verification

Real Estate Salespersons are to help landlords and tenants comply with laws (Women’s Charter, against vice) by conducting identity checks at the point of signing the lease agreement.

Singapore Citizen or Permanent Resident tenant:

• check and make copies of original NRIC
  • verify name and NRIC number though
    • title search with INLIS — Integrated Land Information Services by SLA
    • login to HDB with SingPass
• check photograph to face
• verify validity of NRIC through ICA website and keep copies of validity

Foreign tenant:

• check, cross-check, and make copies of
  • original immigration / work / student pass
    • Long-Term Social Visit, Student’s Pass
    • Work Permit, Employment, S, Dependant’s Pass, Entrepass
  • original passport
• check photograph to face
• verify permit/pass and keep copies
  • Immigration & Checkpoints Authority
    • Long-Term Social Visit, Student’s Pass
  • Ministry of Manpower
    • Work Permit, Employment, S, Dependant’s Pass, Entrepass
  • employer
    • Employment Pass

Salespersons…

• fill in and have signed Checklist for Lease of Residential Properties
  • both tenant’s and landlord’s salesperson
• keep documents and checks for five years
• remind owners to conduct regular checks on tenants to prevent misuse
• report suspicious behaviour and transactions to the police.

Negligent homeowners:

• two of three diligence checks
• fine not exceeding $6,000 and/or
• imprisonment not exceeding 12 months.

Reckless homeowners:

• no diligence checks
• knowingly harbouring over-stayers / illegal immigrants
• fine not exceeding $6,000 and
• imprisonment six months to two years.

Stamping Tenancy Agreement

Salespersons access e-Stamping system by IRAS to stamp documents.

Tenant pays (the Salesperson back).

Letter of Intent

After a verbal agreement on conditions, a Letter of Intent is a proposal from tenant to landlord to lease property (conditions set by tenant).

• term of lease
  • with optional renewal
  • date of lease starting
• monthly rental
• good faith deposit
  • usually one month’s rental
• additional requirements
  • Diplomatic Clause
  • furnishing
• Expiry of Letter of Intent
  • expiry means landlord returns good faith deposit.

Landlord signs Letter of Intent, accepts deposit, and cannot lease the property to anyone else.

Tenancy Agreement

A binding contract signed by tenant and landlord, with more details than Letter of Intent:

• tenant and landlord’s full details
  • name, address, ID
    • verify identity
• payment details
  • when and how paid
• security deposit
  • one month’s rental for every year of lease
  • refunded at the end minus costs arising from tenant breaching covenants
• termination
  • Diplomatic Clause
  • reimbursement clause (optional)
• inventory of contents
  • supplementary
  • lists all fittings and furniture and condition
  • checked again when tenant moves out

Pay security deposit and first month’s rent (minus good faith deposit).

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Image of Singapore’s shophouses and tall commercial buildings by Jason Goh from Pixabay.