Singapore is well-known as one of the world’s richest financial centers. Established adults and young professionals alike flock here in an effort to find opportunities for a better life, whether that’s in the professional or personal sense. However, this brings with it the need for more housing. Luckily enough, there are numerous HDBs and rooms for rent in Singapore that can accommodate.
Renting or leasing overall is not a simple matter. There are certain rules and regulations that both landlords and tenants must be aware of before trying to do so. Here are some of the most common queries about it, answered:
Directions for Tenants:
What is the criteria for renting?
The eligibility criteria to rent a bedroom or a flat for tenants are as follows:
- You must be a Singaporean Citizen
- Or you must be a Singaporean PR (Permanent Resident)
- Or a non-Singaporean citizen who has a Long-Term Social Visit Pass, Dependent Pass, Student Pass, Work Permit, S Pass, or Employment Pass. The documents must have a validity period of 6 months from the date of their rental application.
How can tenants rent on Ohmyhome?
- First, you have to download the Ohmyhome app from the App Store or from Google Play Store. Create an account.
- Then, you have the option to “Explore Listings” in order to view the available rooms or flats in your location (be sure that the location service on your mobile device has been turned on). You can also choose to key in your desired location onto the app’s search bar to find rooms and flats. Filter the results according to the number of bedrooms, your budget, and the amenities available in the flat.
- In order to view the room’s details, just tap on the listings. Click “Contact Owner” in order to arrange a viewing.
Directions for Landlords:
What are the criteria for landlords to lease their rooms?
First and foremost, all landlords must be an official citizen of Singapore if they want to lease their entire HDB flat. They also need to meet the 5-year MOP or Minimum Occupation Period. This can be lessened into a 3-year MOP if the flat was purchased without a Housing Grant from the open market.
Furthermore, landlords must get an approval from the Housing and Development Board (HDB) in order to rent out their flats.
What do landlords need to do?
First, you need to check your would-be tenant’s eligibility to rent a flat or a room from you.
- Discuss the lease period and the rental amount with your tenant. Once you both agree, you need to grant a tenancy agreement accompanying an inventory list.
- You must keep photocopies of your tenant’s important documents such as Student Pass, Work Permit, passport, etc.
- Upon signing the tenancy agreement with your tenant, collect an advanced rental payment of 1 month and the deposit (1 month per year of lease). Tell your tenant that they have to pay for stamp duty within 2 weeks from the date in your tenancy agreement.
What is the minimum renting period?
Six months is the minimum renting period for Singaporean tenants in both private residential properties and HDB flats. This was established to encourage a safe and peaceful neighbourhood throughout the nation.
On the other hand, the maximum rental period is 3 years for each application. But it can be shortened to 1.5 years if one of your tenants is a non-Malaysian or a non-Singaporean citizen. This means that renting out your property to Airbnb and other home-sharing websites is illegal. However, there is a possibility it could be changed after the Urban Redevelopment Authority (URA) reviews their policies.
How do you rent on Ohmyhome?
- Download the Ohmyhome app from the App Store or from Google Play Store. Create an account.
- At the bottom right corner of the app’s homepage, click on the Post My HDB link. Just follow the 6 simple steps in the app afterwards.
- Make sure you already have obtained the HDB’s approval to rent your flat out.