Renting a property in Singapore, whether you’re a local or expatriate, can be exhausting. From looking at tens of properties at a time to dealing with brokers and legal paperwork, the process gets pretty old quick. Here are 5 tips to finding the right rental property in Singapore while limiting spent resources.
Decide Your Starting Point
If you are an expat moving to Singapore and is searching independently, you can approach a property agent or use an online portal that can offer leads to good properties in specific neighbourhoods. Most property portals in Singapore have extensive listings, so it should be fairly easy to find a property that suits your lifestyle needs and demands. On the other hand, if you are being sponsored by a company, approach them for housing assistance.
Decide on Location
It’s very common for people to have a hard time deciding where to move to. Pick a location that is generally more convenient for your family and yourself. Areas that are close to your school, work, or place/s of interest should be your primary target locations. Keep in mind that the closer you are to business centres and financial or tech hubs, the cost of rent generally climb higher.
Decide on Budget
How much are you comfortable allocating to monthly rent in Singapore? Is it a personal lease or is your employer shouldering all or some of it? Have a range in mind, such as $1,000 to $3,000 per calendar month. Knowing your budget beforehand is vital as it determine which property rentals you can entertain. Ideally, you should set a budget that does not eat up your entire monthly income. A safe range would be a monthly rent that’s equal to 50-60 percent of your monthly income.
Decide on the Type of Housing
Eighty percent of people living in Singapore are in public housing or what is colloquially termed as HDB, which is short for Housing Development Board. HDB flats are more affordable and some even come furnished, making moving in much simpler. On the other hand, a house for rent in Singapore is ideal for larger sized families yet tends to cost more. If you plan on staying permanently, leasing a house is a much wiser investment.
Decide on Amenities and Facilities
Consider the accessible amenities close by. Does the property have access to an MRT station? Are there supermarkets and department stores you can go to for basic needs and supplies? Aside from outdoor amenities, consider available indoor facilities, such as an in-house laundry room, swimming pool, gym, Jacuzzi, tennis court, and whatever your heart desires. Apparently, rental properties that carry these luxury amenities will charge a higher premium, so again it comes down to your budget.
Start your Singapore property search right using the five tips above. A few hours of taking the time to read this guide along with other helpful resources online can save you money and time from getting sucked into a bad property or a bad contract.